According to IMARC Group, the global electric motor market size reached US$ 107.0 Billion in 2022. Looking forward, the market is expected to reach US$ 135.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
The report has segmented the market by motor type (AC motor, DC motor, others), voltage (low voltage electric motors, medium voltage electric motors, high voltage...
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