United States Electric Motors Market Report and Forecast 2024-2032

United States Electric Motors Market Outlook

The United States electric motors market size was valued at USD 26.26 billion in 2023. The market is further projected to grow at a CAGR of 5.1% between 2024 and 2032, reaching a value of USD 41.36 billion by 2032.

Key Takeaways

• As per the industry reports, the industry comprises approximately 943 businesses, with a focus on various types of electric motors, including AC motors.

• Additionally, the efficiency of electric motors can be improved by 20 to 30 percent by utilising variable speed drives, showcasing the potential for enhancing energy efficiency in motor operations.

• In terms of revenue, fractional horsepower motors (FHP) in North America generated sales revenue of approximately USD 8.7 billion in 2019, indicating a strong demand for these motors within the region.

The United States electric motors market growth is driven by the increasing demand for energy-efficient electric motors, increased sales of consumer electronics and appliances in developing countries, and a rise in demand for electric vehicles. For example, Tesla uses electric motors in its electric vehicles, and the growing demand for electric vehicles is driving the market for electric motors.

Sustainability is a key trend in the electric motors market, with a focus on developing environmentally friendly and energy-efficient electric motors. The industry is moving towards more sustainable practices, such as reducing energy consumption, minimising emissions, and promoting green technologies. These sustainability initiatives are shaping the market landscape and driving the adoption of eco-friendly electric motors.

The market is poised for growth driven by the rising uptake of automation and mechanisation in various industries, the increasing need for robotics and autonomous robots, and the growing demand for energy-efficient electric motors. An illustration of this trend is the Integral Horsepower Motor Rule by the U.S. Department of Energy, mandating specific energy efficiency standards for electric motors ranging from 1 to 500 horsepower.

The industrial machinery segment is the largest end-use segment and accounts for the highest United States 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.

AC motors are widely used in various applications, including industrial machinery, HVAC systems, medical equipment, and home appliances. For example, AC motors are used in air compressors, pumps, and fans. DC motors are ideal for use in high-speed applications and are widely used in various medical equipment in the healthcare industry. For example, DC motors are used in surgical tools, dental drills, and other medical devices.

Market Segmentation

United States 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

• New England

• Mideast

• Great Lakes

• Plains

• Southeast

• Southwest

• Rocky Mountain

• Far West

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