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Asia Pacific Leads the Global Electric Vehicle PMSM Market
The global electric vehicle (EV) permanent magnet synchronous motors market is witnessing strong expansion as automotive manufacturers accelerate the transition toward electrification. The industry was valued at US$ 6.4 Bn in 2022 and is projected to grow at a CAGR of 14.3% from 2023 to 2031, reaching US$ 21.5 Bn by 2031. Rising EV adoption, growing demand for energy-efficient powertrains, and...
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