Electric Motor Market to Reach USD160.11 Billion until 2026
Booming heating, ventilation and air conditioning industry to drive the Global Electric Motor Market through 2026 According to TechSci Research report, “ Global Electric Motor Market By Type (AC Motors, DC Motors and Hermetic Motors), By End Use (Residential, Commercial, Industrial, Transportation and Others), By Output Power (Above 1HP and Upto 1HP), By Region, Competition Forecast & Opportunities, 2016 – 2026’’ , the Global Electric Motor Market is projected to cross USD160 billion by 2026, on account of growing demand from various small scale industries such as paper and pulp, textile industry and others. Moreover, shifting trends towards electrical vehicle technology along with regulations such as Minimum Energy Performance Standards (MEPS) to bolster the Global Electric Motor Market through 2026. Global Electric Motor Market can be segmented based on type, end use, output power and region. In terms of type, the market can be bifurcated...