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North America Electric Motors Market

North America Electric Motors Market Size, Share, Growth: By Type: AC, DC; By Voltage: Less Than 1 kV, Between 1kV-6kV, Higher Than 6 kV; By Power Output: Up to 1 HP, More Than 1 HP; By Application: Residential, Commercial, Industrial, Transportation, Agriculture; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

North America Electric Motors Market Outlook

The North America electric motors market size was valued at USD 30.56 billion in 2023. The market is further projected to grow at a CAGR of 5.3% between 2024 and 2032, reaching a value of USD 49.06 billion by 2032.

 

Key Takeaways

  • The North America electric motors market growth is driven by factors such as rising government programs to promote emission-free vehicles, increasing demand for HVAC systems in commercial and residential sectors, and the growth of the automotive industry.
  • The demand for AC synchronous motors is the largest in North America, primarily used in automotive and industrial processes.
  • As per industry reports, the market is dominated by a few major players, including ABB, Siemens, Wolong Electric, NIDEC Corporation, and WEG S.A.

 

The electric motors market in North America is expected to grow due to the increasing adoption of automation and mechanisation across several industries, the growing demand for robotics and autonomous robots, and the rising demand for energy-efficient electric motors. For example, the U.S. Department of Energy has implemented the Integral Horsepower Motor Rule, which requires all electric motors with a power rating of 1 to 500 horsepower to meet certain energy efficiency standards.

 

The industrial machinery segment is the largest end-use segment for electric motors in North America, accounting for the highest North America electric motors market share. For instance, companies like Rockwell Automation and Siemens offer a wide range of electric motors for industrial applications, such as pumps, fans, and compressors.

 

As per the North America electric motors market analysis, the adoption of motors ranging 21-60 V in HVAC sectors, owing to the heat dissipation, is anticipated to exhibit high demand for these motors in the coming years. Additionally, the increase in demand for medium to large voltage motors, particularly in emerging wind power markets, is further expected to fuel the market growth. For example, companies like ABB and General Electric offer a range of medium to large voltage electric motors for industrial and commercial applications.

 

The rise in demand for superior machine control in the automotive industry, owing to the high efficiency of AC synchronous motors, is fuelling the electric motor market growth. The adoption of electric motors in the automotive industry is expected to continue to grow in the coming years, driven by the increasing demand for electric vehicles. For example, Tesla, the leading electric vehicle manufacturer, uses electric motors in its vehicles, and the company is continuously working on improving the efficiency and performance of its electric motors.

 

North America Electric Motors Market

 

Market Segmentation

North America Electric Motors Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments

 

Market Breakup by Type

  • AC
  • DC

 

Market Breakup by Voltage

  • Less Than 1 kV
  • Between 1kV-6kV
  • Higher Than 6 kV

 

Market Breakup by Power Output

  • Up to 1 HP
  • More Than 1 HP

 

Market Breakup by Application

  • Residential
  • Commercial
  • Industrial
  • Transportation
  • Agriculture

 

Market Breakup by Region

  • United States of America
  • Canada

 

Competitive Landscape

Market players are focused on product development based on R&D in electric motor manufacturing to gain maximum revenue benefits.

 

  • ABB Ltd.
  • Robert Bosch GmbH
  • Hitachi Ltd.
  • Johnson Electric Holdings Limited
  • AMETEK. Inc.
  • Siemens AG
  • Toshiba International Corporation
  • TECO-Westinghouse Motor Company
  • Maxon International ltd.
  • Warfield Electric Company
  • Others

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Voltage
  • Power Output
  • Application
  • Region
Breakup by Type
  • AC
  • DC
Breakup by Voltage
  • Less Than 1 kV
  • Between 1kV-6kV
  • Higher Than 6 kV
Breakup by Power Output
  • Up to 1 HP
  • More Than 1 HP
Breakup by Application
  • Residential
  • Commercial
  • Industrial
  • Transportation
  • Agriculture
Breakup by Region
  • United States of America
  • Canada
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ABB Ltd.
  • Robert Bosch GmbH
  • Hitachi Ltd.
  • Johnson Electric Holdings Limited
  • AMETEK. Inc.
  • Siemens AG
  • Toshiba International Corporation
  • TECO-Westinghouse Motor Company
  • Maxon International ltd.
  • Warfield Electric Company
  • Others

 

North America Electric Motors Market Report Snapshots

North America Electric Motors Market Size

North America Electric Motors Companies

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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    Market Snapshot
7    Opportunities and Challenges in the Market
8    Global Electric Motors Market Overview

    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 Share by Region
        8.4.1    North America
        8.4.2    Europe
        8.4.3    Asia Pacific
        8.4.4    Latin America
        8.4.5    Middle East and Africa
9    North America Electric Motors Market Overview
    9.1    Key Industry Highlights
    9.2    North America Electric Motors Historical Market (2018-2023) 
    9.3    North America Electric Motors Market Forecast (2024-2032)
10    North America Electric Motors Market by Type
    10.1    AC
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    DC
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
11    North America Electric Motors Market by Voltage
    11.1    Less Than 1 kV   
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Between 1kV-6kV   
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    Higher Than 6 kV
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
12    North America Electric Motors Market by Power Output
    12.1    Up to 1 HP
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    More Than 1 HP
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
13    North America Electric Motors Market by Application
    13.1    Residential
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    Commercial 
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Industrial 
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    Transportation
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Agriculture 
        13.5.1    Historical Trend (2018-2023)
        13.5.2    Forecast Trend (2024-2032)
14    North America Electric Motors Market by Country
    14.1    United States of America
        14.1.1    Historical Trend (2018-2023)
        14.1.2    Forecast Trend (2024-2032)
    14.2    Canada
        14.2.1    Historical Trend (2018-2023)
        14.2.2    Forecast Trend (2024-2032)
15    Market Dynamics
    15.1    SWOT Analysis
        15.1.1    Strengths
        15.1.2    Weaknesses
        15.1.3    Opportunities
        15.1.4    Threats
    15.2    Porter’s Five Forces Analysis
        15.2.1    Supplier’s Power
        15.2.2    Buyer’s Power
        15.2.3    Threat of New Entrants
        15.2.4    Degree of Rivalry
        15.2.5    Threat of Substitutes
    15.3    Key Indicators of Demand
    15.4    Key Indicators of Price
16    Value Chain Analysis
17    Trade Data Analysis (HS Code: 8501)

    17.1    Major Importing Countries
        17.1.1    By Volume
        17.1.2    By Value
    17.2    Major Exporting Countries
        17.2.1    By Volume
        17.2.2    By Value
18    Competitive Landscape
    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    ABB Ltd. 
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Robert Bosch GmbH 
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Hitachi Ltd. 
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Johnson Electric Holdings Limited 
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    AMETEK.Inc. 
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Siemens AG 
            18.2.6.1    Company Overview
            18.2.6.2    Product Portfolio
            18.2.6.3    Demographic Reach and Achievements
            18.2.6.4    Certifications
        18.2.7    Toshiba International Corporation 
            18.2.7.1    Company Overview
            18.2.7.2    Product Portfolio
            18.2.7.3    Demographic Reach and Achievements
            18.2.7.4    Certifications
        18.2.8    TECO-Westinghouse Motor Company 
            18.2.8.1    Company Overview
            18.2.8.2    Product Portfolio
            18.2.8.3    Demographic Reach and Achievements
            18.2.8.4    Certifications
        18.2.9    Maxon International ltd.  
            18.2.9.1    Company Overview
            18.2.9.2    Product Portfolio
            18.2.9.3    Demographic Reach and Achievements
            18.2.9.4    Certifications
        18.2.10    Warfield Electric Company 
            18.2.10.1    Company Overview
            18.2.10.2    Product Portfolio
            18.2.10.3    Demographic Reach and Achievements
            18.2.10.4    Certifications
        18.2.11    Others
19    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.    North America Electric Motors Market: Key Industry Highlights, 2018 and 2032
3.    North America Electric Motors Historical Market: Breakup by Type (USD Billion), 2018-2023
4.    North America Electric Motors Market Forecast: Breakup by Type (USD Billion), 2024-2032
5.    North America Electric Motors Historical Market: Breakup by Voltage (USD Billion), 2018-2023
6.    North America Electric Motors Market Forecast: Breakup by Voltage (USD Billion), 2024-2032
7.    North America Electric Motors Historical Market: Breakup by Power Output (USD Billion), 2018-2023
8.    North America Electric Motors Market Forecast: Breakup by Power Output (USD Billion), 2024-2032
9.    North America Electric Motors Historical Market: Breakup by Application (USD Billion), 2018-2023
10.    North America Electric Motors Market Forecast: Breakup by Application (USD Billion), 2024-2032
11.    North America Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
12.    North America Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
13.    Major Importing Countries by Volume
14.    Major Exporting Countries by Volume
15.    Major Importing Countries by Value
16.    Major Exporting Countries by Value
17.    North America Electric Motors Market Structure

Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 30.56 billion.

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

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 49.06 billion by 2032.

The market is driven by factors such as the rise in government initiatives to encourage the use of electric bikes, consumer inclination towards electric bikes, and the expansion of the tourism sector.

Key trends aiding the market expansion include the development of lightweight electrical energy storage systems and the trend towards connected e-bikes.

Countries considered in the market are United States of America and Canada.

Based on application, the market segmentations include residential, commercial, industrial, transportation, and agriculture.

AC and DC motors are considered in the report.

Key players in the market are ABB Ltd., Robert Bosch GmbH, Hitachi Ltd., Johnson Electric Holdings Limited, AMETEK. Inc., Siemens AG, Toshiba International Corporation, TECO-Westinghouse Motor Company, Maxon International ltd., and Warfield Electric Company, among others.

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