DC motors generate torque directly from DC power using internal commutation and stationary magnets. Brushless DC motors use rotating magnets and stationary coils. AC motors have a stationary stator with coils powered by AC current to generate a rotating magnetic field, and a rotor given torque.
DC motors offer excellent speed control but require more maintenance due to brushes. AC motors are cheaper, more reliable with no brushes, allow for speed variation, and have high power factors, making them suitable for most industrial applications powered by AC sources. Both motor types have advantages dependent on the application.