Driving the Future: Trends and Innovations in Automotive Electric Motors

December 1, 2023 ⚊ 1 Min read ⚊ Views 39 ⚊ BLOG

The electric motors market size is estimated at 958.3 million units in 2023. Increased demand for HVAC systems and electric vehicles coupled with the surge in renewable energy integration are likely to drive the electric motors market growth during the projected period. Furthermore, the rising need for more streamlined motors to promote vehicle lightweighting and efficiency effectiveness is also leading the electric motors market to grow at a CAGR of more than 3% during 2023-2028.

Read details: https://www.globaldata.com/store/report/automotive-electric-motors-market-analysis/

Tags: Automotive Electric Motors Market