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Precision Motor Market Trends

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Report ID: 3491
Published Date: Aug 27, 2024
Report Format: PDF, PPT

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Precision Motor Market Trends

Growth Drivers

Increasing Adoption of Electric Vehicles in the Automobile Industry
Growing Use of Precision Motors in Healthcare, Aerospace and Defense Industries

Challenges

Fluctuating Price of Raw Materials
High Maintenance Cost

Precision Motor Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	7.1%
Base Year Market Size (2023)	USD 61.48 billion
Forecast Year Market Size (2036)	USD 149.97 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Precision Motor Market Size & Share, Growth Analysis 2036

Author Credits: Richa Gupta

Report ID: 3491
Published Date: Aug 27, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of precision motor is evaluated at USD 64.97 billion.

Precision Motor Market size was valued at USD 61.48 billion in 2023 and is expected to reach USD 149.97 billion by 2036, expanding at around 7.1% CAGR during the forecast period i.e., between 2024-2036. The increasing adoption of electric vehicles in the automobile industry will drive the market growth.

Asia Pacific is anticipated to hold highest industry share of 55% by 2036, impelled by growing ICT sector in countries such as China, Japan, and India.

The major players in the market are AMETEK, Inc., ARC Systems Inc., Allied Motion Technologies, Inc., Siemens Limited, ABB, Yaskawa Electric Corporation, and others.

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