The electric vehicle motor market is set to grow by USD 6.31 billion between 2020 and 2025, and register a CAGR of 21.69%, according to Technavio’s latest market report. This report offers an up-to-date analysis regarding the current market scenario, the latest trends, drivers, challenges, and the overall market environment.
Electric Vehicle Motor Market 2021-2025: Driver
The key factor driving growth in the electric vehicle motor market is the increasing sales of EVs. Most government bodies across the world are taking several initiatives to promote the sales of EVs.
