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, m...