Induction motors market will reach $40.5 billion by 2032
Control Engineering
AUGUST 12, 2023
Motor and drive insights The induction motor market is expected to reach more than $40 billion globally by 2032. The need for induction motors is expected to rise as the electric vehicle (EV) sector grows because manufacturers are turning to them for their low maintenance requirements. billion in 2032. billion by 2032.
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