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Global Electric Motor Market – Analysis and Forecast (2018 – 2024)

The global electric motor market is expected to grow at a CAGR of 5.9% with its market size attaining a value of USD 145.3 billion by 2024. Electric motors are electro-automated procedures that perform operations on the basis of electromagnetic induction since they are extensively efficient and durable. Furthermore, these devices entail low maintenance, have high resolution for shifting voltages. The growth of electric motor market is attributed towards low cost of electric motors as compared to that of fossil-fuel engine as a result of which these systems are witnessing greater utilization in varied industry domains such as oil & gas and automotive domain.

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Global Electric Motor Market – Analysis and Forecast (2018 – 2024)

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  1. Global Electric Motor Market enquiry@vynzresearch.com www.vynzresearch.com

  2. Market Is Driven Factors Increasing compliance for energy efficient electric motors are the key driving factors pertaining towards the growth of electric motor market across the globe. Electric vehicles help in reducing the contamination in air and helps in stabilizing the problem related to crude oil prices. Moreover, apart from involving high initial set up cost the electric vehicles enables reduced working cost for the users that is further strengthening its demand worldwide. Additionally, several countries are embedding their focus upon long haul scenario and cost savings benefit. Explore Full Report Description at: https://www.vynzresearch.com/semiconductor-electronics/global-electric-motor-market

  3. market segmentation • On the basis of motor type, the global electric motor market is segmented into DC motor, AC motor and hermetic motor. Among these segments, AC motor has been contributing largest revenue throughout the estimated period. The growth of this segment is attributed towards increasing adoption of various industries for instance cement, paper & pulp and chemicals and wastewater treatment thereby strengthening the growth of electric motor market across the globe.

  4. Geographic Overview • Geographically, electric motor market in Asia-Pacific is the largest electric motor market. The key factor behind the largest share of the region is extensive acceptance of these systems in both passengers and commercial car segment in this region, accentuating growth in the construction and manufacturing domain in various developing countries of this region.

  5. Competition among keyplayers • The market structure of electric motor market is consolidated structure and the key players operating in the global electric motor market includes Johnson Electric Holdings Limited, AMETEK, Inc., Franklin Electric Co., Inc., ASMO Co., Ltd., Denso Corporation, Robert Bosch GmbH, SL Montevideo Technology, Inc., Siemens AG, ABB LTd. and ARC Systems, Inc.

  6. In THANK YOU! https://www.vynzresearch.com/semiconductor-electronics/global-electric-motor-market/request-sample enquiry@vynzresearch.com www.vynzresearch.com US/Canada Toll-Free: 1-888-253-3960

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