The electric motor market is an established industry in terms of size and presence across diverse geographic regions. The varied applications of motors include industrial machinery, household appliances, aerospace, and transportation. This includes magnetic motors as well as induction motors. The industry is segmented into permanent magnet, electric motor, magnet synchronous motor, and others. The industrial and agricultural sectors have the highest demand for motors as they make extensive use of motors for energy-efficiency. Furthermore, increase in awareness about electric and green vehicles among customers have augmented its demand in the automotive industry. In addition, research and development projects funded by the government have led to new innovations that include pico-projectors and electric power substation automations.