North America Electric Motors Market Outlook
The North American electric motors market size was valued at USD 32.18 billion in 2024 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.30% during the forecast period of 2025-2034, reaching a value of USD 53.93 billion by 2034. Electric motors are critical components in various industrial, residential, and commercial applications, driving a wide array of machinery and equipment across sectors such as manufacturing, automotive, and consumer goods.
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