Electric Motor Market Is Driven By Rising Demand For Energy-Efficient Equipment

The electric motor market comprises motors powered by electricity. Electric motors work on the principle of electromagnetic induction and convert electrical energy into mechanical energy. Some key types of electric motors include AC motors, DC motors, hermetic motors, and stepper motors. Electric motors are useful in various industrial applications such as pumps, compressors, HVAC systems, material handling equipment, machine tools, and electric vehicles among others. They offer advantages such as high reliability, low maintenance, and ability to start and stop easily without significant wear and tear.