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The industrial sector’s increased focus on R&D and investment will increase demand for electric motors.
With the use of robotics and automation during the past ten years, a wide range of industry verticals, including the production of electronics, the food and beverage sector, and the automotive industry, have benefited.
Additionally, there has been a steady increase in investments in smart factory automation, particularly in large production facilities. Automation and robotics technologies are becoming more widely used, which will increase demand for electric motors for use in driving units.
Thus, it is anticipated that the pace of expansion of the electric motor market will be proportional to that of industrial automation and robotics.
The domestic appliances market, where low power capacity motors are primarily employed, is also expected to boost demand for electric motors. The electric motor market has a reputation for being one with great volume and high value.
Driving electric motors consumes the majority of the energy used in industries. Instead, focus on encouraging the usage of high efficiency motors. Sales of new units and replacements are anticipated to provide the product with good growth potential in both developed and developing nations.
On a long-term basis, it is anticipated that the growth of electric motors will be aided by the expansion of utilisation scope into untapped end use verticals.
The Congo Electric motor Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
The green energy industry, which includes renewable energy sources, battery energy storage, electric motors (EMs), and renewable heating and cooling, will be impacted by the coronavirus outbreak in China.
When it comes to renewable investments, China is a global leader, as seen by the nation’s wind power installations, wind turbine production, and solar photovoltaic (PM) manufacture.
To combat carbon emissions, the nation is expanding its portfolio of renewable energy sources, consuming less coal, and improving efficiency.
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