INDUSTRIAL MOTORS MARKET ANALYSIS
The global industrial motors market size was valued at US$ 3,430 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 3.54% from 2023 to 2030. Key factors driving the Industrial Motors market include increasing oil and gas production, technological advancements, and a growing demand for energy-efficient solutions. Increasing demand for energy-efficient motors and government initiatives to address climate change are key factors driving the Industrial Motors market.
Figure 1: Global Industrial Motors Market Share (%), By Region, 2022
Figure 2: Global Industrial Motors Market (%), By Type Of Motor , 2022
Industrial Motors Market Report Snapshots
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