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Electric Motor Market Analysis, Segments, Leading Player, Application by 2031
The electric motor market is expected to grow rapidly, with a year-on-year (YoY) growth rate of 4.2% in 2021 to 1.2 billion units. According to the FMI analysis, demand for DC motors will increase by 2.2% to 339 million units in 2021, while demand for AC motors will increase by 5.1% to 837 million units. The global electric motor market is expected to grow at a 5.6% CAGR between 2021 and 2031,...
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