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Global Electric Motors Market to Grow at a CAGR of 5.9% During 2024-2032, Aided by the Increasing Demand for High-Efficiency Vehicles and Industrial Machinery

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Market Share

Global Electric Motor Market Size, Share, Growth, Analysis: By Type: AC Motors, DC Motors, Hermetic Motors; By Power Output: Integral HP Output, Fractional HP Output; By Application: Industrial, Residential and Commercial, E-Mobility, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Electric Motor Market Share

AC motors contribute to the electric motor market growth due to their versatility, being widely accessible in diverse sizes and configurations, making them suitable for diverse applications.

AC Motors are available in varied sizes and configurations, suitable for diverse applications, and operate more efficiently than DC motors, reducing energy consumption. With simpler construction, they require less maintenance and offer a longer lifespan. AC motors are easy to control and regulate speed, making them versatile, particularly in high-power applications.

 

DC Motors offers precise speed control and high starting torque, ideal for applications requiring accurate speed regulation and quick acceleration, such as electric vehicles. They easily reverse direction, simplifying bidirectional motion control. DC motors integrate well with batteries, suitable for portable devices and electric vehicles. Additionally, brushed DC motors are cost-effective and simple, suitable for household appliances and power tools.

 

According to recent findings by the Australian Research Council, Australia has approximately sixteen million operational IoT devices. These devices include a diverse range of categories like home appliances, health trackers, agricultural sensors, and automated facilities in industries such as mining and manufacturing thus boosting the electric motor industry market size.

 

Integral HP output drives growth in the electric motor market share, tailored for high-power applications like industrial machinery, pumps, and compressors. These motors deliver robust performance, catering to heavy-duty equipment needs in various industries.

Integral HP motors excel in high-power applications such as industrial machinery, pumps, and compressors. They offer efficient operation, cost savings through reduced energy consumption, and a compact design suitable for confined spaces. These motors are dependable, requiring minimal maintenance and enduring harsh industrial conditions, thus minimising downtime, and maintenance costs.

 

Fractional HP motors provide versatility in applications such as household appliances, fans, and small machinery. They are economical and compact, suitable for budget-conscious and space-restricted uses. Although slightly less efficient than integral HP motors, they still offer favourable energy efficiency, minimizing operational expenses. Moreover, their straightforward installation adds to their convenience across various applications.

 

INVEST India highlights key government incentives in the consumer durables sector, including the PLI for White Goods for ACs and LEDs to stimulate domestic manufacturing. Additionally, initiatives like the Street Lighting National Programme (SLNP) aim to install/retrofit approximately 30 million LED streetlights by 2024. Furthermore, the UJALA Scheme, distributing over 366 million LEDs to households from 2015 to 2022, further propels the growth of the electric motor market.

 

E-mobility drives the electric motors for electric vehicle market based on its application, primarily due to its substantial reduction of greenhouse gas emissions when compared to internal combustion engines. This fosters environmental sustainability and contributes to the market's expansion.

Electric mobility vehicles, driven by electric motors, provide notable environmental advantages by curbing emissions and advancing sustainability. They boast high energy efficiency, diminishing fuel usage and operational expenses. Reduced moving parts translate to decreased maintenance costs, while their silent operation aids in mitigating noise pollution. Furthermore, they stimulate innovation in the automotive sector, enticing consumers and nurturing the expansion of the global electric vehicle motor market.

 

According to the Electric Vehicle Council, the purchase of electric vehicles surged by 86 per cent in 2022, constituting 3.8 per cent of all new car purchases. Australia is approaching the milestone of 100,000 electric vehicles, with over 83,000 estimated to be in operation, thereby driving growth in the electric vehicle motor market.

 

Electric motors used in residential and commercial environments prioritize energy efficiency, reducing electricity consumption and costs, thus supporting environmental sustainability by lowering carbon emissions. Their silent operation enhances comfort, and their reliability and minimal maintenance ensure continuous functionality across a variety of applications, demonstrating versatility in HVAC systems, elevators, and appliances.

 

Electric Motors Market Report Snapshots

Electric Motors Market Size

Electric Motors Market Growth

Electric Motors Market Trends

Electric Motors Market Share

Electric Motors Manufacturers

Electric Motors Market Regional Analysis

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Electric Motors Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Electric Motors Historical Market (2018-2023) 
    8.3    Global Electric Motors Market Forecast (2024-2032)
    8.4    Global Electric Motors Market by Type
        8.4.1    AC Motors
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Synchronous AC Motors
                8.4.1.3.2    Induction AC Motors
        8.4.2    DC Motors
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
                8.4.2.2.1    Brushed DC Motors
                8.4.2.2.2    Brushless DC Motors
        8.4.3    Hermetic Motors
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Electric Motors Market by Power Output
        8.5.1    Integral HP Output
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Fractional HP Output
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Electric Motors Market by Application
        8.6.1    Industrial
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
            8.6.1.3    Breakup by Power Type
                8.6.1.3.1    Low Power (less than 1KW)
                    8.6.1.3.1.1    Historical Trend (2018-2023)
                    8.6.1.3.1.2    Forecast Trend (2024-2032)
                8.6.1.3.2    Medium Power (1 KW to 100 KW)
                    8.6.1.3.2.1    Historical Trend (2018-2023)
                    8.6.1.3.2.2    Forecast Trend (2024-2032)
                8.6.1.3.3    High Power (More than 100 KW)
                    8.6.1.3.3.1    Historical Trend (2018-2023)
                    8.6.1.3.3.2    Forecast Trend (2024-2032)
        8.6.2    Residential and Commercial
                8.6.2.1    Historical Trend (2018-2023)
                8.6.2.2    Forecast Trend (2024-2032)
                8.6.2.3    Breakup by Application Type
                    8.6.2.3.1    HVAC
                        8.6.2.3.1.1    Historical Trend (2018-2023)
                        8.6.2.3.1.2    Forecast Trend (2024-2032)
                    8.6.2.3.2    Home Appliances
                        8.6.2.3.2.1    Historical Trend (2018-2023)
                        8.6.2.3.2.2    Forecast Trend (2024-2032)
                    8.6.2.3.3    Others
        8.6.3    E-Mobility
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
            8.6.3.3    Breakup by Type
                8.6.3.3.1    2 and 3 Wheelers
                    8.6.3.3.1.1    Historical Trend (2018-2023)
                    8.6.3.3.1.2    Forecast Trend (2024-2032)
                8.6.3.3.2    Light Vehicle (Passenger Vehicle)
                    8.6.3.3.2.1    Historical Trend (2018-2023)
                    8.6.3.3.2.2    Forecast Trend (2024-2032)
                8.6.3.3.3    Commercial Vehicle (Light and Medium Commercial)
                    8.6.3.3.3.1    Historical Trend (2018-2023)
                    8.6.3.3.3.2    Forecast Trend (2024-2032)
                8.6.3.3.4    Heavy Truck (Heavy Commercial)
                    8.6.3.3.4.1    Historical Trend (2018-2023)
                    8.6.3.3.4.2    Forecast Trend (2024-2032)
                8.6.3.3.5    Marine
                    8.6.3.3.5.1    Historical Trend (2018-2023)
                    8.6.3.3.5.2    Forecast Trend (2024-2032)
                8.6.3.3.6    Train
                    8.6.3.3.6.1    Historical Trend (2018-2023)
                    8.6.3.3.6.2    Forecast Trend (2024-2032)
                8.6.3.3.7    Aerospace
                    8.6.3.3.7.1    Historical Trend (2018-2023)
                    8.6.3.3.7.2    Forecast Trend (2024-2032)
                8.6.3.3.8    Others
        8.6.4    Others   
    8.7    Global Electric Motors Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Electric  Motors Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Electric Motors Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Electric Motors Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Electric Motors Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Electric Motors Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis (HS Code: 8501)
    16.1    Major Exporting Countries
        16.1.1    By Value
        16.1.2    By Volume
    16.2    Major Importing Countries
        16.2.1    By Value
        16.2.2    By Volume 
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    ABB Ltd.
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Allied Motion Technologies Inc.
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Ametek Inc.
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    General Electric
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Johnson Electric Holdings Limited
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Rockwell Automation, Inc.
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Siemens AG
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Electric Motors Market: Key Industry Highlights, 2018 and 2032
2.    Global Electric Motors Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Electric Motors Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Electric Motors Historical Market: Breakup by Power Output (USD Billion), 2018-2023
5.    Global Electric Motors Market Forecast: Breakup by Power Output (USD Billion), 2024-2032
6.    Global Electric Motors Historical Market: Breakup by Application (USD Billion), 2018-2023
7.    Global Electric Motors Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.    Global Electric Motors Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Electric Motors Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Major Exporting Countries by Value
21.    Major Importing Countries by Value
22.    Major Exporting Countries by Volume
23.    Major Importing Countries by Volume
24.    Global Electric Motors Market Structure

Key Questions Answered in the Report

What was the global electric motor market value in 2023?

The market was valued at USD 124.33 billion in 2023.

What is the growth rate of the global electric motor market?

The market is projected to grow at a CAGR of 5.3% between 2024 and 2032.

How big is the electric motor market?

The revenue generated from the electric motor market is expected to reach USD 197.89 billion in 2032.

What is the trend in the electric motor industry?

The rise of electric vehicles (EVs), efficiency improvements, integration of IoT and industry 4.0, and focus on sustainable manufacturing are the major trends impacting the electric motor industry.

What is the breakup of the market based on the type?

The market is categorised according to the type, which includes AC motors, DC motors and hermetic motors.

Who are the key playes in the electric motor sales market?

The market key players are ABB Ltd, Allied Motion Technologies Inc., Ametek Inc., General Electric, Johnson Electric Holdings Limited, Rockwell Automation, Inc., and Siemens AG, among others.

What is the breakup of the market according to the power output?

Based on the power output, the market is divided into integral HP output and fractional HP output.

What is the breakup of the market according to the application?

Based on the application, the market is divided into industrial, residential, commercial, e-mobility and others.

What is the market breakup by region?

The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Which segment accounted for the largest electric motor sales market share?

AC motors contribute to the electric motor market growth due to their versatility, being widely accessible in diverse sizes and configurations, making them suitable for diverse applications.

Which is the fastest growing region in Electric Motor Market?

The Asia-Pacific region is the fastest growing region in the global electric motor market, driven by rising demand across industrial, automotive, and power sectors.

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