AC Motors are electric motors that use alternating current (AC) to convert electrical energy into mechanical energy. They are used in a wide variety of applications, including industrial and home appliances, power tools, consumer electronics, and automotive uses. AC Motors are one of the most commonly used electric motors due to their simplicity, low cost, and wide availability.
AC Motors are used in various applications such as pumps, fans, compressors, conveyors, and machine tools. They are also used in a variety of power tools, appliances, and automotive systems. AC Motors are used in a variety of industries, including automotive, industrial, oil and gas, and power generation.
Increasing demand from the automotive and industrial sectors is the major factor driving the growth of the global AC motor market. The increasing demand for energy-efficient motors is also expected to fuel the growth of the AC motor market during the forecast period.
The global AC Motor market was valued at US$ 17940 million in 2022 and is anticipated to reach US$ 20080 million by 2029, witnessing a CAGR of 1.6% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global AC Motor Market available at: https://www.themarketreports.com/report/global-ac-motor-market-research-report
This report aims to provide a comprehensive presentation of the global market for AC Motor, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding AC Motor.
The key players are ABB, Siemens, Brook Crompton, Regal Beloit, TMEIC, Nidec Corp, Yaskawa, Lenze, WEG, Sicme Motori, T-T Electric, Wolong Electric, Haerbin Electric, Changsha Motor Factory, Tellhow Shenyang Electric Machine, XEMC, Yongji Xinshisu Electric Equipment, Shanghai Electric Group, Jiangsu Dazhong, Nanyang Explosion Protection Group, Simo Motor, SEC Electric Machinery etc. Top 3 companies occupied about 31% market share.
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