Global Electric Motor Market stood at USD109.39 billion in 2020 and is forecast to grow at a CAGR of over 6.28% until 2026, owing to the increasing global electricity consumption and increasing demand from the automotive and railways industry. Moreover, the growing heating, ventilation, and air conditioning industry (HVAC), especially in the Asia-Pacific region is expected to positively influence the Global Electric Motor Market in the coming years. In terms of type, the market can be bifurcated into AC motors, DC motors and hermetic motors. AC motors dominated the market in 2020 and is expected to maintain its market dominance during the forecast period, backed by the wide usage in the residential and industrial sectors. By output power, the market is segmented into above 1HP and up to 1HP. Up to 1HP segment is propelling the demand owing to its usage in various small-scale industries such as home appliances, paper and pulp industries, textile mills, healthcare and other applications. Some of the major players in the Global Electric Motor Market include ABB Limited, Siemens AG, Johnson Electric Holdings Limited, Rockwell Automation Incorporation, Nidec Corporation among others. Download Free Sample Report: https://www.techsciresearch.com/sample-report.aspx?cid=7280 (Use your Corporate E-mail Id for Faster Response) For More Information Visit: https://www.techsciresearch.com/report/electric-motor-market/7280.html