AC Electric Motor Market Top Key Players and Recent Trends by Forecast to 2031
AC electric motor possesses high torque, requires less maintenance, has low noise level, and provides better torque to weight ratio. This motor is used in various applications such as automobiles, industrial machinery, and robotics. All these factors drive the AC electric motor market growth. Major players such as Mitsuba Corporation, Portescap, and Siemens AG launched new electric motors in the market. The AC electric motor market size was valued at $15.7 billion in 2021, and is estimated to reach $25 billion by 2031, growing at CAGR of 4.7% from 2022 to 2031. The report also highlights the qualitative aspects in the study. Additionally, the unit takes in the key findings, in terms of market overview and investment prospects. The market report also involves the competitive landscape containing the profiles of top ten major players in the industry. The frontrunners have been thoroughly assessed based on their revenue size, service/product portfolio, regional presen...