Electric Motor Market
Report ID: SQMIG20E2123
Report ID: SQMIG20E2123
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Report ID:
SQMIG20E2123 |
Region:
Global |
Published Date: July, 2025
Pages:
192
|Tables:
90
|Figures:
69
Global Electric Motor Market size was valued at USD 201.44 Billion in 2024 and is poised to grow from USD 220.17 Billion in 2025 to USD 448.46 Billion by 2033, growing at a CAGR of 9.3% during the forecast period (2026–2033).
The global electric motor market growth is primarily driven by the growing demand for home appliances such as refrigerators, dryers, vacuum cleaners, grinders, mixers, and others, the growing trend towards the adoption of green vehicles, and support and encouragement from governments towards the adoption of electric vehicles. Additionally, growing awareness regarding sustainability and the need for lower carbon emissions is driving the market growth.
The U.S. Energy Information Administration, plug-in hybrid electric vehicles, BEVs, and hybrid vehicle total sales went up from 17.8% in the first quarter of the financial year of 2024 to 18.7% in the second quarter. The 30.7% year-over-year increase in the sale of hybrid vehicles contributed mainly to this rise. The growing use of electric motor-driven vehicles in developed countries, such as the U.S. and others, is predicted to drive the growth of this market in the future.
How Smart Electric Motors are Transforming Industrial Automation?
By facilitating remote diagnostics, predictive maintenance, and real-time monitoring, the integration of the Internet of Things into electric motors is revolutionizing industrial operations. The intelligent motors enhance operating efficiency, minimize downtime, and consume the minimum amount of energy. Technology-driven companies such as Rockwell Automation and Schneider Electric are incorporating AI-based predictive analytics, which enable motors to detect any faults at an early stage and optimize performance, making the industry more sustainable and cost-effective.
How Startups Are Reshaping the Electric Motor Industry?
Startups have revolutionized the electric motor industry by establishing new benchmarks for performance, design, and energy efficiency. While Ultraviolette Automotive and Selex Motors enhance urban mobility solutions, startups such as Canoo and Aptera Motors focus on solar mobility and modular platforms. Startups lead the way in technical innovation in electric motors and sustainable growth.
Market snapshot - 2026-2033
Global Market Size
USD 184.3 billion
Largest Segment
Fractional HP Output
Fastest Growth
Integral HP Output
Growth Rate
9.3% CAGR
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Global Electric Motor Market is segmented by Type, Power Rating, Voltage, Rotor Type, Output Power, End User and region. Based on Type, the market is segmented into AC Motors, DC Motors and Hermetic Motor. Based on Power Rating, the market is segmented into <1KW Motors, 1-2.2KW Motors, 2.2-365KW Motors, 375-900 KW Motors and > 900 KW Motors. Based on Voltage, the market is segmented into Low Voltage, Medium Voltage and High Voltage. Based on Rotor Type, the market is segmented into Inner Rotor and Outer Toter. Based on Output Power, the market is segmented into <100HP Motors and >100HP Motors. Based on End User, the market is segmented into Industrial, Commercial, Residential, Transportation and Agriculture. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
As per the 2024 global electric motor market analysis, the AC motors segment dominated the global market with a revenue share of 71.2%. This is because AC motors have widespread applications, ranging from irrigation pumps to robotics in the current times. Besides, they are compact, cheaper, lighter, and extensively used in HVAC equipment. The application of electric AC motors in the automobile industry has increased exponentially, courtesy low-cost, efficient electronics, and development in permanent magnetic materials. Increased demand for them in a range of industries like chemicals, paper and pulp, cement, and wastewater treatment will also spur growth in the segment further.
The hermetic motors segment is anticipated to grow at the highest CAGR of 8.9% during the forecast period of 2025 to 2032. Hermetic motors are mostly used in various applications such as centrifugal chillers, commercial air conditioning systems, residential and commercial refrigerators, aircraft engines, and industrial processes. Growing demand for advanced commercial cooling systems in large business organizations, big commercial buildings, and houses is propelling the growth of this segment mainly.
Based on the 2024 global electric motor market forecast, the fractional HP output segment contributed the largest revenue percentage of this industry. Growth of this segment is mainly fueled due to its extensive number of application areas in each household appliance ranging from vacuum cleaners to coffee makers and refrigerators. It is also used in industrial machines because it is sufficient for operations in a heavy industrial environment. These motors have some advantages like high starting torque and consistency over electric current fluctuations.
Integral HP output segment is expected to grow at highest CAGR during 2025-2032. Increased application demand for motors in industries drives growth in this segment mainly. IHP motors are extensively used in centrifugal pumps, power air and gas compressors, pneumatic systems, refrigerating systems, conveyors, material handling equipment, etc.
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Asia Pacific electric motor market is the leader in revenue, accounting for 51.2% in 2024. The growing application of electric vehicles primarily propelled this market, and China played a major role in it. The United States International Trade Commission, approximately 1.60 million electric vehicles were exported from China throughout 2023. In addition, increased consumption of HVAC equipment by industrial users, increased utilization of automation systems across different manufacturing firms, and government incentives to move reliance away from other sources to energy-efficient electric motors will keep driving growth in the subsequent years.
China held the largest revenue market share of the local industry through 2024. The market is led by the growth in demand for electric vehicles, increased interest of industrial customers in the adoption of sophisticated automation, the increased interest of all types of businesses on integrating energy-efficient solutions, and the increased concern regarding the environmental impact of other power sources.
The need for EV adoption, industrial automation, and energy-efficient technology is driving electric motor growth in India. Tata Motors and Mahindra Electric increased production of high-performance electric motors for their new EV models in 2024. For eco-friendly transport, the Indian Railways is also using electric traction motors. New entrants like Ultraviolette Automotive are also driving the transition towards electrification by developing high-efficiency motors for two-wheelers.
North America electric motor industry is expected to have notable growth during the forecast period. The market is dominated by the reasons like increasing demand in the automotive industry, increasing trend of automation within various manufacturing facilities, rise in the use of industrial and commercial HVAC equipment, and presence of various key players within the region. In addition, increasing concern regarding carbon footprint reduction and increased efforts from organizations as well as governments to include energy-efficient solutions are driving the growth opportunities.
The United States electric motor market was the regional market with the largest revenue share in 2024. The United States has several companies participating in different industries such as automotive, manufacturing, food and beverage, consumer electronics, construction, and others. The increased trend of embracing automation systems and the increased adoption of electric vehicles have a direct impact on this market.
The Canadian electric motor industry is expanding as a result of integration with smart grids and renewable energy initiatives. Hydro-Québec maximized the efficiency of renewable energy generation in 2024 by investing in future-generation electric motors for hydroelectric power. Lion Electric increased the production of electric vehicles and buses by embracing cutting-edge motor technology for better durability and mileage in the meantime. The market for electric drive systems is being stimulated by government support for zero-emission vehicle (ZEV) initiatives from the Canadian government.
Europe is anticipated to be a lucrative electric motor industry. The growth in the electric motor market is fueled by several drivers, including policy-friendly regulations and incentives encouraged by government policies towards clean transport that drive electric motor and vehicle adoption. Based on the emphasis placed on reducing carbon emissions and investing in charging infrastructure, Europe's electric motor market is also developing. The demand for electric motors in the European market is driven primarily by core nations such as the U.K., Germany, and France.
Germany dominated the regional market in 2024, this is attributable to the robust growth in manufacturing industry and auto firms in the country. Moreover, increased focus of producers in various industries such as automotive components, food & beverages, consumer goods, and others towards adopting automation, and increasing demand for advanced HVAC, owing to urbanization and sustainability initiatives drives the country growth.
Everything in energy-efficient motors, industrial automation, and EV technologies is driven from the UK. Rolls-Royce pushed the limits of sustainable flight during 2024 by advancing further their electric aircraft motor technology. At the same time, Jaguar Land Rover has created new electric drivetrains in-house designed to improve range and performance on its future EV range. Apart from that, government subsidies of green transport and industry electrification are promoting adoption of high-efficiency motors on a variety of industries.
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Rising EV Adoption
Intelligent Production and Industrial Automation
Dependency on Upfront Expenses and Raw Commodities
Challenges with Battery and Charging Infrastructure
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With giants such as Tesla, Siemens, ABB, Nidec, and Bosch leading the way, the electric motor market is highly competitive. ABB is gearing up in 2024 its smart motor solutions for industrial automation, while Tesla is working on new, extremely efficient motors with reduced use of rare earth materials. Additionally, players are strategizing by forming joint ventures and mergers; for instance, Nidec and Stellantis are working on next-generation e-axles. The competitive landscape of the industry is being influenced by investment in AI motor technology and new economic growth.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, as industrial automation, EV popularity, and energy-efficient machines are on the rise, the global electric motor market is projected to grow fast. In response to combatting supply chain limitations, companies are decreasing dependency on rare earths, as technological advancements in AI, IoT, and battery design enhance motor efficiency. Although the industry faces challenges such as exorbitant construction costs and minimal infrastructure, green energy spending and government efforts will support market growth. Next-generation motor technology, intelligent manufacturing, and the global electrification trend will each significantly influence the industry in 2032.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 201.44 Billion |
| Market size value in 2033 | USD 448.46 Billion |
| Growth Rate | 9.3% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Electric Motor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Motor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Motor Market:
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