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Electric Motor Market To Offer $195.2-Billion Investment Opportunity in 2030

The electric motor market is expected to exhibit a CAGR of 4.8% during the forecast period (2020–2030) due to the increasing compliance for energy-efficient electric motors, surging demand for electric vehicles (EVs), and growing usage of these devices for varied applications. Apart from this, the soaring sale of heating, ventilation, and air conditioning (HVAC) appliances is expected to increase the revenue of the market from $118.2 billion in 2019 to $195.2 billion in 2030.

Anything with moving parts mostly has a motor, which is why the demand for such devices is so high. At present, the surging demand for customized electric motors is fueling the electric motor market growth. End-users are adopting high numbers of customized electric motors to avoid compatibility issues. Suppliers are offering these motors to meet the specifications and needs of customers and differentiate their products.




The customization process includes the attachment of cables or addition of brackets, gears, mounting plates, pulleys or lead screws. Such customization also increases the efficiency of the electric motor, thereby saving the money and time of buyers. Another factor driving the growth of the electric motor market is the growing application of these motors in pumps, grinding mills, power tools, fans, alternators, refineries, propulsion systems, hoists, and metal rolling equipment.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/electric-motor-market/report-sample

Additionally, the usage of electric motors is rising significantly in the automotive, agriculture, marine, water and wastewater, cement, oil and gas, metal and mining, and pulp and paper industries due to the rapid mechanization of several processes here. This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings



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