According to the research report titled ‘Global Electric Motor Market 2022-2028’, available with MarketStudyReport, global electric motor market is poised to generate revenues worth USD 24,625 million by the year 2028, expanding at a 3.1% CAGR during the study period.

The mounting disposable income, technological breakthroughs, rising electricity consumption, and increasing usage of electrical equipment as well as machines are some of the prominent factors driving the growth of global electric motor market.

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For the uninitiated, an electric motor is a group of machines that use electromagnetic phenomena to convert electrical energy to mechanical energy. Direct current (DC) sources, such as rectifiers or batteries, or alternating current (AC) sources like inverters, electric generators, or the power grid can be used to power electric motors

Notably, the research report on ‘global electric motor market’ provides vital information pertaining to the growth drivers, challenges & limitations, and other revenue prospects that are impacting the growth trajectory of this business vertical. It also offers a comparative analysis of the historical and the current market trends to formulate the compound annual growth rate (CAGR) of this industrial landscape during the study duration.

A comprehensive analysis of the various market segments, such as the technology type, power output, and application scope has also been also encompassed in the study. Moreover, the report also talks about the regional reach as well as the competitive analysis of this business sphere.

In terms of technology type, the market is divided into AC motor, ED motor, and DC motor. With respect to power output, global electric motor marketplace is segmented into fractional HP output, low-voltage integral HP output, and high voltage integral HP output.

Based on the applications spectrum, the market is fragmented into food & beverage, oil & gas, water treatment, chemicals, metal & mining, power generation, industrial, and others.

From the regional point of view, this business space extends to Europe, North America, Asia Pacific, and the rest of the world.

Wolong Electric Group Co. Ltd., WEG S.A., Toshiba Corporation, The Yaskawa Electric Corporation, The ebm-papst Group, Teco-Westinghouse Motor Company, Siemens AG, Rockwell Automation Inc., Regal Rexnord Corporation, Nidec Corporation, maxon Group, AMETEK Inc., Altra Industrial Motion Corporation, and ABB Ltd. are the prominent companies in global electric motor industry landscape.