Electric Motors for Electric Vehicle Market Poised for Rapid Growth

Incorporating electric motors that run on electricity rather than gasoline helps reduce emissions from vehicles and contributes to a green and sustainable future. Electric motors offer noiseless operations, minimal maintenance requirements, and zero emission benefits. The global Electric Motors for Electric Vehicle Market is estimated to be valued at US$ 9463.7 Bn in 2024 and is expected to exhibit a CAGR of 39% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. The global Electric Motors for Electric Vehicle Market is driven by the increasing demand for electric vehicles worldwide owing to stringent emission norms and the push towards cleaner mobility solutions. Electric vehicles rely on electric motors that operate on electricity rather than gasoline to drive the wheels. Electric motors help improve vehicle efficiency while reducing carbon footprint making electric vehicles an attractive proposition. Market key trends: ...