Product Code: ETC150145 | Publication Date: Dec 2023 | Updated Date: May 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 300 | No. of Figures: 90 | No. of Tables: 30 | |
As per 6Wresearch, the global electric motor market is projected to grow significantly, with a CAGR of around 6.7%. The market is expected to reach a valuation of around USD 258 billion by 2031. This growth is driven by factors like increased demand for energy-efficient motors and rising adoption of electric vehicles.
Report Name | Global Electric Motor Market |
Forecast Period | 2025-2031 |
Market Size | USD 258 billion by 2031 |
CAGR | 6.7% |
Growing Sector | Industries |
The Global Electric Motor Market report thoroughly covers the market by Motor Type, Voltage Range, Application, Speedand Regions.The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The global electric motor market is estimated to boost in the coming years, on the back of the growing electric motor demand across various industries, like manufacturing, automotiveand HVAC systems. Additionally, the market development is surging across the globe, with the rising shift towards energy-efficient systems and incorporation of electric motors in modern automated solutions and systems. Additionally, government policies are introduced to promote cleaner energy solutions across the globe, coupled with the growing adoption of electric vehicle (EV), these have proliferated the demand for advanced electric motors.
Global Electric Motor Market is expected to grow at a significant CAGR of 6.7%during the forecast period 2025-2031. Several factors exist that are proliferating the development of the global electric motor market. The high-performance electric motors demand rises, with the growing deployment rate of electric vehicles (EVs). Governments across the globe have been introducing policies and subsidies for the promotion of clean energy and minimization of greenhouse gas emissions, further incentivize the deployment of electric motors across various industries.Additionally, the market growth is estimated to surge in the coming years with the electric vehicles adoption rate has been increasing and rising emphasis on industrial automation. Technological advancements in motorincluding the development of energy-efficient and compact motors, have proliferated the Global Electric Motor Market growth.Despite the promising growth prospects, the electric motor market faces several challenges. The high initial cost of advanced electric motor systems remains a substantial barrier for many small and medium-sized enterprises. Furthermore, the dependence on rare earth materials for motor production raises concerns about resource availability and environmental impact.
The global electric motor market is witnessing rapid advancements, driven by increasing demand for energy-efficient solutions and the growing adoption of electric vehicles (EVs). Key trends include the development of high-efficiency motors, the integration of automation technologies, and a shift towards sustainable manufacturing practices. Industries such as automotive, industrial machinery, and residential sectors are driving the demand for compact and lightweight motors with enhanced performance and minimal energy consumption.
Investment opportunities in the electric motor market are abundant, particularly in emerging technologies and green energy initiatives. The push toward electrification of transportation and renewable energy systems has opened avenues for innovation in motor designs, such as those used in EVs and wind turbines. Additionally, investments in smart manufacturing processes and the development of cost-effective, eco-friendly materials provide potential for significant returns in this expanding market.
The global electric motor market is driven by key players that focus on innovation, technical advancements, and strategic partnerships. Companies such as ABB, Siemens, Nidec Corporation, and Toshiba Corporation are at the forefront, offering a diverse range of electric motors for industrial, automotive, and consumer applications. These players invest significantly in research and development to improve efficiency, performance, and sustainability.
Governments around the world are introducing stringent regulations and initiatives to support energy efficiency and reduce carbon emissions. Policies such as the European Union’s minimum energy performance standards (MEPS) and the U.S. Department of Energy's motor efficiency regulations compel manufacturers to produce high-efficiency motors. Additionally, incentives for using energy-efficient products and adoption of green technology have further encouraged compliance with these regulations. The rising focus on achieving sustainability goals has driven governments to promote the use of electric motors in sectors such as transportation, manufacturing, and residential applications.
The future of the global electric motor market looks promising, with projections indicating significant growth driven by technological advancements and global clean energy initiatives. The integration of artificial intelligence and IoT in electric motors is expected to revolutionize their efficiency and functionality. The demand for motors in electric vehicles, renewable energy systems, and industrial automation will continue to escalate. Furthermore, the development of lightweight, durable materials and the adoption of solid-state battery technologies are poised to redefine the industry.
The report offers a comprehensive study of the subsequent market segments and their leading categories.
Among motor types, Alternate Current (AC) motors dominate the global electric motor market due to their efficiency, durability, and widespread adoption in industrial and household applications. AC motors are favored for their reliability and lower maintenance compared to Direct Current (DC) motors and Hermetic motors.
The industrial machinery segment leads the market due to the rising need for automation and advanced manufacturing equipment. However, motor vehicles also hold a significant share, fueled by the surge in electric vehicle production globally. Additionally, the HVAC equipment sector is experiencing steady growth, driven by increased demand for energy-efficient solutions.
According to Ravi Bhandari, Research Head, 6Wresearch,Asia Pacific is the dominant region in the global electric motor market, driven by the booming industrial sector, rapid urbanization, and increasing adoption of electric vehicles in countries like China, India, and Japan. North America and Europe follow, with strong growth in renewable energy systems and sustainability initiatives.
The report offers a comprehensive study of the subsequent market segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Electric Motor Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Electric Motor Market Revenues & Volume, 2021 & 2031F |
3.3 Global Electric Motor Market - Industry Life Cycle |
3.4 Global Electric Motor Market - Porter's Five Forces |
3.5 Global Electric Motor Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Electric Motor Market Revenues & Volume Share, By Motor Type, 2021 & 2031F |
3.7 Global Electric Motor Market Revenues & Volume Share, By Output Power, 2021 & 2031F |
3.8 Global Electric Motor Market Revenues & Volume Share, By Voltage Range, 2021 & 2031F |
3.9 Global Electric Motor Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.10 Global Electric Motor Market Revenues & Volume Share, By Speed (RPM), 2021 & 2031F |
4 Global Electric Motor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Electric Motor Market Trends |
6 Global Electric Motor Market, 2021-2031 |
6.1 Global Electric Motor Market, Revenues & Volume, By Motor Type, 2021-2031 |
6.2 Global Electric Motor Market, Revenues & Volume, By Output Power, 2021-2031 |
6.3 Global Electric Motor Market, Revenues & Volume, By Voltage Range, 2021-2031 |
6.4 Global Electric Motor Market, Revenues & Volume, By Application, 2021-2031 |
6.5 Global Electric Motor Market, Revenues & Volume, By Speed (RPM), 2021-2031 |
7 North America Electric Motor Market, 2021-2031 |
7.1 North America Electric Motor Market, Revenues & Volume, By Motor Type, 2021-2031 |
7.2 North America Electric Motor Market, Revenues & Volume, By Output Power, 2021-2031 |
7.3 North America Electric Motor Market, Revenues & Volume, By Voltage Range, 2021-2031 |
7.4 North America Electric Motor Market, Revenues & Volume, By Application, 2021-2031 |
7.5 North America Electric Motor Market, Revenues & Volume, By Speed (RPM), 2021-2031 |
8 Latin America Electric Motor Market, 2021-2031 |
8.1 Latin America Electric Motor Market, Revenues & Volume, By Motor Type, 2021-2031 |
8.2 Latin America Electric Motor Market, Revenues & Volume, By Output Power, 2021-2031 |
8.3 Latin America Electric Motor Market, Revenues & Volume, By Voltage Range, 2021-2031 |
8.4 Latin America Electric Motor Market, Revenues & Volume, By Application, 2021-2031 |
8.5 Latin America Electric Motor Market, Revenues & Volume, By Speed (RPM), 2021-2031 |
9 Europe Electric Motor Market, 2021-2031 |
9.1 Europe Electric Motor Market, Revenues & Volume, By Motor Type, 2021-2031 |
9.2 Europe Electric Motor Market, Revenues & Volume, By Output Power, 2021-2031 |
9.3 Europe Electric Motor Market, Revenues & Volume, By Voltage Range, 2021-2031 |
9.4 Europe Electric Motor Market, Revenues & Volume, By Application, 2021-2031 |
9.5 Europe Electric Motor Market, Revenues & Volume, By Speed (RPM), 2021-2031 |
10 Asia Pacific Electric Motor Market, 2021-2031 |
10.1 Asia Pacific Electric Motor Market, Revenues & Volume, By Motor Type, 2021-2031 |
10.2 Asia Pacific Electric Motor Market, Revenues & Volume, By Output Power, 2021-2031 |
10.3 Asia Pacific Electric Motor Market, Revenues & Volume, By Voltage Range, 2021-2031 |
10.4 Asia Pacific Electric Motor Market, Revenues & Volume, By Application, 2021-2031 |
10.5 Asia Pacific Electric Motor Market, Revenues & Volume, By Speed (RPM), 2021-2031 |
11 Middle East Electric Motor Market, 2021-2031 |
11.1 Middle East Electric Motor Market, Revenues & Volume, By Motor Type, 2021-2031 |
11.2 Middle East Electric Motor Market, Revenues & Volume, By Output Power, 2021-2031 |
11.3 Middle East Electric Motor Market, Revenues & Volume, By Voltage Range, 2021-2031 |
11.4 Middle East Electric Motor Market, Revenues & Volume, By Application, 2021-2031 |
11.5 Middle East Electric Motor Market, Revenues & Volume, By Speed (RPM), 2021-2031 |
12 Africa Electric Motor Market, 2021-2031 |
12.1 Africa Electric Motor Market, Revenues & Volume, By Motor Type, 2021-2031 |
12.2 Africa Electric Motor Market, Revenues & Volume, By Output Power, 2021-2031 |
12.3 Africa Electric Motor Market, Revenues & Volume, By Voltage Range, 2021-2031 |
12.4 Africa Electric Motor Market, Revenues & Volume, By Application, 2021-2031 |
12.5 Africa Electric Motor Market, Revenues & Volume, By Speed (RPM), 2021-2031 |
13 Global Electric Motor Market Key Performance Indicators |
14 Global Electric Motor Market - Opportunity Assessment |
14.1 Global Electric Motor Market Opportunity Assessment, By Regions, 2021 & 2031F |
14.2 Global Electric Motor Market Opportunity Assessment, By Motor Type, 2021 & 2031F |
14.3 Global Electric Motor Market Opportunity Assessment, By Output Power, 2021 & 2031F |
14.4 Global Electric Motor Market Opportunity Assessment, By Voltage Range, 2021 & 2031F |
14.5 Global Electric Motor Market Opportunity Assessment, By Application, 2021 & 2031F |
14.6 Global Electric Motor Market Opportunity Assessment, By Speed (RPM), 2021 & 2031F |
15 Global Electric Motor Market - Competitive Landscape |
15.1 Global Electric Motor Market Revenue Share, By Companies, 2024 |
15.2 Global Electric Motor Market Competitive Benchmarking, By Operating and Technical Parameters |
16 Company Profiles |
17 Recommendations |
18 Disclaimer |
Product Code: ETC150145 | Publication Date: Jul 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 300 | No. of Figures: 90 | No. of Tables: 30 |
Global Electric Motor Market report thoroughly covers the market by motor type, speed, voltage, application, and region. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Global Electric Motor Market is likely to project moderate growth during the upcoming period on account of rapid technological advancement. Rising fuel prices across the world are likely to boost the growth of the electric motor market. The rising demand for electricity backed by rapid urbanization is driving the demand for electric motors in the residential sector further leading to the development of the market. The establishment of buildings, offices, and shopping complexes beholds the increasing growth of the market. Surging incentives by the government towards the usage of an emission-less vehicle owing to surging environmental concern is driving the Electric Motor Market Growth. Also, surging prices of electricity are one of the key factors shifting the consumers towards the adoption of Electric motors.
According to 6Wresearch, the Global Electric Motor Market size is projected to register growth during 2021-2027. Increasing innovation and advancement in technology are driving the demand for electric motors. Additionally, the various benefits provided by the electric motor such as reduction of carbon emission and high efficiency are proliferating the Electric Motor Share. Rising expenditure in the defense sector coupled with Growing disposable income along with a rising standard of living drives the need for the HVAC segment further leading to the development of the electric motor market. Growing development in agriculture, industrial and commercial sectors beholds the deployment of electric motors further proliferating the Electric Motor Market Share. Additionally, increasing the efficiency of electric motors triggers the potential growth of the electric motor market in the industrial sector. The high initial and maintenance cost is a restraining factor in the growth of the market. The global emergency caused by COVID-19 has added to the negative growth of the market backed by a nationwide lockdown leading to the disruption in the supply chain.
On the basis of voltage, 60V and above segment are expected to account for the highest share on account of its increasing demand for heavy industrial machinery.
The Industrial Motor Market size is anticipated to rise in the upcoming years. Industrial machinery is leading the market and is expected to dominate during the forecast period as well on account of its increasing demand.
On the basis of Geography, North America is leading the market and is expected to secure the position during the forecast period as well on account of rapid industrial growth and expansion of the aerospace industry.
The report provides a detailed analysis of the following market segments: