Electric Motor Market Expected to Reach $169.1 Billion by 2026
The global Electric Motor Market is expected to grow from an estimated USD 113.3 billion in 2020 to USD 169.1 billion by 2026, at a CAGR of 6.9% during the forecast period. Increased demand for HVAC systems in residential, commercial, and industrial end-users in the Middle East and the Asia Pacific regions along with the growing use of electric motors across major industries is the driving factor for the growth of this market. Emerging robotics technologies and the demand for...
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