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Report Overview
The electric motors market reached a value of approximately USD 130.92 Billion in 2024. The market is projected to grow at a CAGR of 5.30% between 2025 and 2034, reaching a value of around USD 219.43 Billion by 2034.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- France intends to allocate €2.5 billion in its 2030 investment strategy to increase the manufacture of approximately two million electric and hybrid cars.
- According to ITA, Canada shipped around 57.38% of products from the Aircraft, Engine, and Parts Manufacturing sector to the United States in 2022.
- In 2022, Australia's car sector witnessed more than a million new vehicle transactions, with SUVs, according to FCAI.
Leading Manufacturers in the Electric Motors Market
In a competitive landscape, the company specialises in electric motors, actuators, motion subsystems, and related technologies. They design, manufacture, and supply a wide range of products used in various industries such as automotive, industrial, consumer electronics, healthcare, and more.
ABB Ltd: Established in 1988, ABB Ltd, headquartered in Zurich, Switzerland, focuses on power and automation technologies, catering to global utility, industry, transportation, and infrastructure sectors.
Allied Motion Technologies Inc: Founded in 1962, Allied Motion Technologies Inc, situated in Amherst, New York, specializes in motion control products and systems, serving diverse industries worldwide.
Ametek Inc: Tracing its roots back to 1930, Ametek Inc., based in Berwyn, Pennsylvania, is a prominent global producer of electronic instruments and electromechanical devices.
General Electric: Founded in 1892, General Electric, headquartered in Boston, Massachusetts, is a multinational conglomerate with operations spanning aviation, healthcare, renewable energy, and power sectors.
Other global electric motors market key players are Johnson Electric Holdings Limited, Rockwell Automation, Inc., and Siemens AG, among others.
Electric Motors Market Report Snapshots
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.*
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Key Questions Answered in the Report
The market was valued at USD 130.92 Billion in 2024.
The market is projected to grow at a CAGR of 5.30% between 2025 and 2034.
The revenue generated from the electric motor market is expected to reach USD 219.43 Billion in 2034.
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.
The market is categorised according to the type, which includes AC motors, DC motors and hermetic motors.
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.
Based on the power output, the market is divided into integral HP output and fractional HP output.
Based on the application, the market is divided into industrial, residential, commercial, e-mobility and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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.
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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124