4The global electric AC motors market is valued at approximately USD $136.34 billion in 2024. It is expected to grow at a CAGR of 6.9% from 2024 to 2034, according to a new Factview Research report. These motors, which convert alternating current into mechanical energy, are indispensable across industries such as manufacturing, HVAC, transportation, agriculture, and residential applications, owing to their efficiency, reliability, and scalability.
