Global Electric Motor Market Analysis by Motor Type, Power Output, Rotor, Application, End Use, and Region and segments forecast till 2033 The electric motor market is valued at USD 121,020 million on 2022 and is anticipated to reach a value of USD 203,320 million in 2030 expanding at a CAGR of 6.7% over the forecast period. Electric motor is referred to as a type of an electrical equipment that is powered by the ability to transform electrical energy into mechanical energy. The interaction between its electric current and magnetic field in a wire facilitates its efficient operations. It is made up of six pivotal parts including rotor, field magnet, commuter, axle, brushes, and a DC power supply. The escalating demand for continuous power supply along with rapid urbanization and industrialization are primarily augmenting the outlook of this market vertical. https://wemarketresearch.com/reports/electric-motor-market/142/