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An electric motor is a device that converts electrical energy into mechanical energy. Most electric motors generate force in the form of torque imparted to the motor’s shaft by interacting between the magnetic field of the motor and electric current in a wire winding.
Mechanically, an electric generator is identical to an electric motor, but it runs with a reversed flow of power, transforming mechanical energy into electrical energy.Direct current (DC) sources, such as batteries or rectifiers, or alternating current (AC) sources, such as a power grid, inverters, or electrical generators, can power electric motors.
Electric motors are classed based on factors such as power source type, construction, application, and motion output type.
The Nigeria Electric motor Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
The Nigerian electric motor market is expected to grow dramatically as a result of rising electrification and automation of industrial processes, rising automobile sales, rising demand for technologically advanced electric motors, rising demand for energy-saving high-efficiency motors, and the government’s focus on reducing carbon emissions into the environment.
The spread of the global pandemic coronavirus caused a downturn in Nigeria’s economy , impeding the growth of the electric motor sector. However, the Nigerian economy is predicted to rebound , boosting the growth of the electric motor industry.
The growth of the electric motor market is primarily attributed to factors such as rising levels of electricity consumption in commercial sectors, rising demand for automotive electric motors as a result of stringent regulations aimed at reducing air pollution levels, and rising demand for electric motors in the coming years.
