According to the report, the global electric motor industry generated $106.3 billion in 2020, and is estimated to reach $207.3 billion by 2030, witnessing a CAGR of 6.7% from 2021 to 2030. Electric motor is compact in size, possesses high torque, requires less maintenance, is low noise level, and provides better torque to weight ratio. This motor is used …
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