Reports
Reports
Sale
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.
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 Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Type
Market Breakup by Voltage
Market Breakup by Power Output
Market Breakup by Application
Market Breakup by Region
Market players are focused on product development based on R&D in electric motor manufacturing to gain maximum revenue benefits.
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:
|
Breakup by Type |
|
Breakup by Voltage |
|
Breakup by Power Output |
|
Breakup by Application |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
*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
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.
Mini Report
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.