As per Market Research Future (MRFR)’s assessment, the global electric motors market is anticipated to thrive at a CAGR of 6.2% during the forecast period 2017 to 2023. The key advantages offered by these motors over conventional motors are longer life span, reasonable maintenance cost, lower energy consumption, etc. These factors are poised to aid demand generation for electric motors over the next couple of years.
The global demand for electric motors market is expected to grow at a CAGR of 6.2%, accelerating over the forecast period of 2017-2023, asserts Market Research Future (MRFR) in a comprehensive study. Electric motors are key components in various durable goods, HVAC applications, compressors, machine tools, electric cars, power tools, and automated robots.
One of the key drivers for the growth of Electric motors market is the ... Read more