The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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The North America Electric Motors Market is expected to grow by US$ 2.49 billion during 2020-2026, progressing at a CAGR of 5.4% during the forecast period.
This industry report offers market estimates and forecasts of the North America market, followed by a detailed analysis of the product types, applications, technology, and countries. The North America market data on electric motors can be segmented by product types: low voltage fraction horsepower motors, low-voltage integral horsepower motors, and medium-voltage integral horsepower motors.
The low-voltage integral horsepower motors segment held the largest market share of 66.3% in 2019. Moreover, it is expected to witness the highest CAGR during the forecast period. Electric motors market is further segmented by applications: chemicals, food & beverage, gardening, heating, ventilation and air conditioning (HVAC), mining, oil & gas, power, traction, and water treatment.
In 2019, the oil & gas segment held the largest share of the market, and the traction segment is anticipated to register the highest CAGR during 2020 2026. Based on technology, the electric motors market is segmented into: alternating current (AC) induction motor, brushed direct current (DC) motor, brushless direct current (DC) motor, other synchronous alternating current (AC) motor, permanent magnet alternating current (AC) motor, reluctance alternating current (AC) motor, and servo & stepper motor.
The study provides historical market data (2016-2019) and forecasts from 2020 till 2026. The market size and estimations are provided in terms of revenue (million USD) considering 2019 as base year and market forecast will be given from 2020 to 2026.
The data-centric report focuses on market trends, status and outlook for segments, and future growth. With comprehensive market assessment across the major geographies such as USA, and Canada the report is a valuable asset for the existing players, new entrants and the future investors
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Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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