Global Electric Motor Market is estimated to be US$ 205.60 billion by 2030 with a CAGR of 6.1% during the forecast period.Global Electric Motor Market accounted for US$ 114.2 billion in 2020 and is estimated to be US$ 205.60 billion by 2030 and is anticipated to register a CAGR of 6.1%. The rise in demand for greater machine control in the automotive industry, owing to the high efficiency of AC synchronous motors, drives the growth of the electric motor market. Regulations such as the Minimum Energy Performance Standards (MEPS) promote the global growth of the energy efficient electric motors market. Material handling systems are the primary consumers of fractional horsepower (FHP) motors, increasing their global demand. Furthermore, due to heat dissipation, the adoption of motors ranging from 21 to 60 V in HVAC sectors is expected to be high in the approaching years.Link: https://www.prophecymarketinsights.com/market_insight/Global-Electric-Motor-Market-By-353