Electric Motors Market 2024 - a USD 2 Billion Revenue Opportunity : Adlee Powertronic Co. Ltd., Allied Motion, Inc., AMETEK, Inc., Baldor Electric Company, Bosch, Denso
Asia Pacific electric motors market is expected to hold 55% industry share by 2024. Increasing vehicle production across the region will enhance industry growth. Focus of auto industry to enhance fuel economy and reduce carbon emissions has resulted in employment of green automobiles in several countries. Additionally, regional regulatory landscape will further boost the industry. For instance, Indian government has mandated electrification of vehicles by 2030 which in turn has forced auto producers to manufacture them.
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