Electric Motors Market Size, Major Strategies, Key Companies, Revenue Share Analysis, 2030
Electric Motors Market Overview: The Global Electric Motors Market size is projected to be worth USD 1,77,665.92 million by 2030, registering a CAGR of 5.38% during the forecast period (2022–2030). The awareness of environmental protection and the focus to lessen the carbon footprint is likely to drive the market for electric motors. The eclectic motors market is also driven directly by the radical pace of commercialization and industrialization which would power up the conduction activities across the globe, especially in the region of Asia-Pacific. The demand due to this has increased more for industrial equipment which shall further enhance the electric motors demand across the globe. There are major factors such as awareness of the environment and the focus to lessen the carbon footprint are major factors that are contributing to the market growth of electric vehicles. Thanks to the technological innovation that has been transforming the automotive industry facade as the w