ELECTRIC MOTORS MARKET

COMPLETE GROWTH OVERVIEW ON ELECTRIC MOTORS MARKET WITH HIGHER CAGR OF 7.57% TO HIT BY $ 143.2 BILLION BY 2023


The electric motor manufacturing market consists of sales of electric motors. A motor converts electrical energy into mechanical energy and supplies power to devices. The motor manufacturing market is segmented into AC motor and DC motor. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance. These include components such as rotor, bearings, stator, air gap, windings, and commutator. Devices that use electric motors consist of fans, blowers, household appliances, disk drives, batteries and power tools, machine tools, domestic appliances, HVAC applications, electric cars, and automated robots. The global electric motor manufacturing market was worth $106.9 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.57% and reach $143.2 billion by 2023.

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Some of the key players of Electric Motors Market:

ABB Ltd.; ARC Systems, Inc.; Asmo Co., Ltd.; Brook Crompton UK Ltd.; Emerson Electric Co.

The Global Electric Motors Market research report offers an in-depth analysis of the global market, providing relevant information for the new market entrants or well-established players. Some of the key strategies employed by leading key players operating in the market and their impact analysis have been included in this research report.

Segmentation by type:

Alternate Current (AC) Motor; Direct Current (AC) Motor; Hermetic Motor

Segmentation by application:

Industrial Machinery; Motor Vehicle; HVAC Equipment; Aerospace & Transportation; Household Appliances; Other Commercial Applications

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