Induction Motor Market Size Set for Steady Growth Amid Rising Demand for Automation and Energy Efficiency

The Global Induction Motor Market Size is poised for significant growth, with projections indicating an increase from $15.86 billion in 2023 to approximately $20.49 billion by 2030. This represents a Compound Annual Growth Rate (CAGR) of 3.72% during the forecast period from 2024 to 2030. This growth is primarily attributed to advancements in industrial automation, the rising adoption of electric vehicles (EVs), and a global emphasis on energy-efficient solutions.
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