Electric Motor Market is expected to grow at a CAGR of 9.59% through 2030F

The global electric motor market is expanding due to the increasing adoption of electric vehicles and the growing demand for energy-efficient technologies across various industries. during the forecast period 2026-2030F

According to TechSci Research report, “Electric Motor Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F, The Global Electric Motor Market was valued at USD 141.68 Billion in 2024 and is expected to reach USD 247.64 Billion by 2030 with a CAGR of 9.59% through 2030.

Government regulations and support for sustainable technologies have been pivotal in driving the demand for electric motors in various sectors. With increasing environmental concerns and the global push for carbon reduction, governments worldwide are implementing policies that promote the adoption of energy-efficient, low-emission technologies. These regulations have created a favorable environment for the growth of the electric motor market, as electric motors are a key component in many of the technologies designed to reduce environmental impact.

Governments are introducing stringent energy efficiency standards for electric motors to minimize energy consumption across industries. For instance, the International Electrotechnical Commission (IEC) has established global standards for motor efficiency, encouraging manufacturers to develop motors with higher energy efficiency ratings. These standards have driven the demand for more advanced electric motor technologies that meet these criteria, ensuring that industries comply with energy efficiency regulations and reduce their carbon footprint.

The technological complexity and integration challenges associated with electric motors represent another hurdle to the widespread adoption of these systems. As electric motor technologies continue to evolve, they are becoming increasingly sophisticated, with advanced features such as variable speed controls, precision monitoring, and integration with digital systems like the Internet of Things. While these features offer substantial benefits in terms of energy efficiency and performance, they also increase the complexity of electric motor systems.

One of the primary challenges is the difficulty in integrating these advanced motors into existing infrastructure, particularly in industries that rely on older or less advanced equipment. Retrofitting existing systems with new electric motors often requires significant modifications to both the motor and the surrounding infrastructure. This can result in lengthy downtime, costly redesigns, and operational disruptions, which can be detrimental for businesses seeking to minimize downtime and maintain productivity.

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Based on End Use, the Industrial segment dominated the global electric motor market and is expected to maintain its dominance throughout the forecast period. This sector's substantial share is primarily driven by the extensive use of electric motors in manufacturing processes, including automation, material handling, and machinery operations. The increasing trend toward industrial automation and the adoption of energy-efficient technologies have further propelled the demand for electric motors in this segment. Additionally, the growth of industries such as chemicals, paper and pulp, cement, and wastewater treatment has significantly contributed to the expansion of the industrial electric motor market. The continuous need for reliable and efficient electric motors in these applications underscores the industrial segment's leading position in the global market.

 In 2024, North America is the fastest-growing region in the global electric motor market, driven by several key factors. One major driver is the region's strong push for energy efficiency and sustainability across industries, including manufacturing, automotive, and renewable energy. As industries in North America increasingly prioritize reducing energy consumption and lowering carbon footprints, the demand for energy-efficient electric motors has surged. For example, the adoption of high-efficiency motors and variable frequency drives (VFDs) has been particularly prominent, as these technologies help optimize performance while reducing energy waste. The electric vehicle (EV) market in North America is also a significant contributor to the growth of electric motors. With the rapid expansion of EV production in countries like the U.S. and Canada, the demand for electric motors, especially for traction and powertrain applications, has experienced exponential growth. Government incentives and environmental regulations aimed at reducing emissions have further accelerated the shift toward electric vehicles, boosting the electric motor market.

North America’s investment in renewable energy projects, such as wind and solar, has driven the need for electric motors used in energy conversion systems, like wind turbines and solar panel tracking mechanisms. As a result, North America is expected to continue leading the charge in electric motor market growth, with an increasing emphasis on energy efficiency, sustainability, and clean technology adoption.

Key market players in the Electric Motor Market are: -

• General Electric Company
• ABB Ltd
• Schneider Electric SE
• Siemens AG
• Rockwell Automation, Inc.
• Mitsubishi Electric Corporation.
• Emerson Electric Co.
• Yaskawa Electric Corporation.
• Toshiba Corporation.
• Nidec Corporation

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“The Electric Motor market is poised for robust growth driven by increasing demand for energy-efficient technologies, particularly in automotive, industrial automation, and HVAC applications. Advancements in electric vehicle adoption and stringent regulations promoting energy efficiency are key factors propelling market expansion. Innovations in motor design focusing on performance enhancement, durability, and reduced operational costs are expected to further accelerate growth. Moreover, investments in renewable energy and smart infrastructure initiatives globally will create new opportunities for market expansion, fostering a positive outlook for the Electric Motor market in the foreseeable future.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Electric Motor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (AC Motors, DC Motors and Hermetic Motors), By Output Power (Above 1HP and Upto 1HP), By End Use (Residential, Commercial, Industrial, Transportation and Others), By Region, By Competition, 2020-2030F” has evaluated the future growth potential of Electric Motor Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Electric Motor Market.

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