Electric Motor Market Expected to Reach $117,288 Million Globally by 2022
The electric motor market was valued at $ 91,401 million in 2015 and is projected to reach $117,288 million by 2022, growing at a CAGR of 3.7% from 2016 to 2022 according to a new report by Allied Market Research. Further, in terms of units, the electric motor industry is projected to reach 853 million units by the end of 2022, at a CAGR of 4.2%.
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