Global Electric Motor Market: Industry Analysis and Forecast (2021-2027)
The increase in need for energy-efficient motors, increase in demand for electric motors particularly in agriculture and industrial sectors, rise in awareness about electric & green vehicles among customers, and government funding for emerging efficient electric motors are some of the key factors expected to drive the growth in the global electric motor market size throughout the forecast period. An increase in earning level leading to rising disposable income is majorly boosting the demand for the global electric motors market.