The best replacement for induction motor is synchronous motor.

The best alternatives to induction motor are rated as following:
★★★★★  synchronous motor
★★  permanent magnet
★★  universal motor
★★  servo motor
★★  permanent magnet motor
★  universal
★  brushless motor
★  brush motor
★  ac motor
★  ecm motor
★  inverter duty motor
  brush
  induction generator
  dc magnet motor
  stepper motor
  asynchronous motor
  wound rotor induction motor

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induction motor
synchronous motor
permanent magnet