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Electric Motor Market Future Growth, Competitive Analysis and Competitive Landscape till 2032

This report on the global Electric Motor Market from Reports and Data provides a comprehensive analysis of the current and emerging market trends along with key industry developments to assist users, readers and investors in understanding market scenarios fully. A thorough primary and secondary research was conducted to formulate the report, and the data was verified by experts and experts in the field. Diagrams, graphs, tables, figures, and other pictorial presentations were used to present the data in a professional manner.

The global electric motor market size was USD 123.10 Billion in 2022 and is expected to register a rapid revenue CAGR of 6.9% during the forecast period. Rising demand for Electric Vehicles (EVs), and demand for energy-efficient motors along with shifting dependency on renewable sources of energy and stringent government regulations to control energy emissions are major factors driving market revenue growth.

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 Market Overview:

Over the past few years, the manufacturing and construction industry has steadily expanded in terms of revenue, and during the forecast period, 2023-2032, it is expected to grow at a robust rate. A number of factors have contributed to this, including rapid growth in the construction and building industries, rapid industrialization and urbanization across the globe, and technological advancements in manufacturing. Due to growing awareness of environmental impact and carbon emissions in recent years, green construction and energy efficient buildings have become increasingly popular. The global market is expected to grow during the forecast period due to factors such as a rapidly growing global population, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovations and reconstructions worldwide, and an increase in eco-friendly construction activities. Other factors expected to boost global market growth include rising disposable income, government schemes, and private investments to support manufacturing and construction industries.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, R&D investments, and joint ventures to gain robust footing in the market.  Some of the major key companies operating in the global Electric Motor Market Report include

  • ABB,
  • Hitachi Energy Ltd.,
  • Nidec Corporation,
  • Siemens,
  • Johnson Electric Holdings Limited,
  • Ametek Inc.,
  • General Electric,
  • Denso Corporation,
  •  

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Electric Motor Market Segmentation:

Type Outlook:

  • Residential
  • Commercial
  • Industrial
  • Agriculture
  • Transportation

 

 Application Outlook:

  • Automobile
  • Medical equipment
  • Heating, Ventilation, Air Conditioning (HVAC)
  • Household appliances
  • Industrial appliances

 

 Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Electric Motor Market. Electric Motor