Induction Motor Market to Reach USD 20.49 Billion by 2030, Growing at a 3.72% CAGR
Induction Motor Market to Reach USD 20.49 Billion by 2030, Driven by Industrial and Commercial Applications Global Induction Motor Market Set to Grow at 3.72% CAGR, Fueled by Demand in Industrial Automation and Energy Efficiency Summary: The global Induction Motor Market , valued at USD 15.86 billion in 2023, is projected to grow at a CAGR of 3.72% from 2024 to 2030, reaching nearly USD 20.49 billion by the end of the forecast period. This growth is driven by the increasing adoption of induction motors in industrial automation, commercial applications, and residential sectors. The market’s expansion highlights the critical role of induction motors in enhancing energy efficiency and operational performance across industries. Get Your Free Sample Here: https://www.maximizemarketresearch.com/request-sample/93716/ A) Market Size: The Induction Motor Market was valued at USD 15.86 billion in 2023 and is expected to grow at a CAGR of 3.72% during the forecast period ...