Electric Motor Market Report

Electric Motor Market Size, Share & Trends

The global electric motor market size reached USD 115.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 157.0 Billion by 2033, exhibiting a growth rate (CAGR) of 3.32% during 2025-2033. The market is experiencing steady growth driven by the growing demand for electric vehicles supported by stringent emission regulations, rapid urbanization and infrastructure development in emerging economies, rising trend of the miniaturization in the field of electronics, and continual technological advancements in manufacturing processes.

Electric Motor Market Analysis:

• Major Market Drivers: Increasing demand for electric vehicles (EVs) and industrial automation is a significant driver in the market as these applications require efficient and high-performance electric motors. Improvements in the motor's technological aspects, leading to better efficiency, performance, and reliability, are also propelling the market.
• Key Market Trends: The integration of smart motors with advanced sensors and IoT capabilities is a key trend, which enables predictive maintenance and real-time monitoring. Growing adoption of renewable energy sources, such as wind and solar power, which rely heavily on electric motors for energy conversion and management, is another important trend in the market.
• Geographical Trends: The Asia-Pacific region holds the largest regional segment as it is witnessing rapid growth driven by industrialization, urbanization, and the rising automotive sector. The market is also led by North America and Europe due to the stringent environmental regulations and large investments in R&D.
• Competitive Landscape: Considering that the market is competitive, the major players in the market are engaging themselves in significant R&D activities to leverage innovative technologies that would help them sustain their market position. Companies are also focusing on strategic collaborations and mergers to expand their product portfolios and global presence. Some of the major market players in the electric motor industry include ABB Group, Siemens AG, WEG SA, TECO, Regal Beloit Corporation, and Nidec Corporation, among many others.
• Challenges and Opportunities: Among the major challenges include high upfront costs for new technologies integrated into finished advanced electric motors. However, the increasing trend in energy-savings and sustainable technologies creates a large opportunity for market growth, especially in those regions with a strong regulatory drive toward green technology.

Electric Motor Market Trends:

Technological advancements and innovation

The escalating demand for electric motors is largely fueled by modern continuous technological advancements and product innovations. These result in the development of motors that are efficient, effective, and reliable in performance, seeking higher adoption across a wide array of applications. Due to the introduction of smart motors fitted with developed sensors and IoT capabilities, companies can reduce operational costs by predicting maintenance and real-time monitoring, thereby preventing downtown. Concurrently, innovations in materials and manufacturing processes drive motors toward becoming lighter and more compact while being energy efficient. Moreover, leading manufacturers are investing in electric motor market recent developments to lead the next generation of motor design for industries such as automotive, aerospace, and consumer electronics, which is favoring the market.

Rising demand for electric vehicles (EVs)

Another major market driver includes the rise in the demand for electric vehicles. Governments of various countries strictly impose emission norms and offer incentives to promote the sale of EVs as a viable alternative to traditional ICE vehicles. This leads to an increase in demand for effective and reliable electric motors, forming the basic essence of EV drivetrains. Along with this, growing consumer awareness about the conservation of the environment and the associated benefits, such as reduced running costs and lower carbon emissions, is also accelerating the market growth. In addition, large investments in electric mobility by major automotive manufacturers are fueling innovations in motor technology, including higher power density and better thermal management. Therefore, these are further acting as electric motor market recent opportunities.

Industrial automation and smart manufacturing

The rapid growth in industrial automation and smart manufacturing practices is positively influencing the market. Various industries are implementing automation in various industry verticals to increase productivity, precision, and operational efficiency. Electric motors constitute one of the most essential components of various automated systems and machinery, including conveyor belts, robotic arms, CNC machines, and automatic guided vehicles. Apart from this, the growing emphasis on energy conservation and sustainability in the industrial setup is creating a niche for energy-efficient motors that reduce energy consumption, decrease operational costs, and help them attain environmental goals. As per the electric motor market report, industry 4.0 technologies are powering smart factories, creating demand for advanced electric motors that can be seamlessly integrated into digital control systems and compute with high accuracy and reliability.

Adoption of Energy-Saving Motors in Smart Home Appliances

One of the on-going trends in the electric motor industry is the extensive use of energy-saving motors in contemporary home appliances. With the increasing number of smart homes, manufacturers produce appliances such as washing machines, refrigerators, air conditioners, and vacuum cleaners featuring brushless DC (BLDC) motors and other efficient motor models. These motors not only conserve electricity but also provide quieter operation, increased lifespan, and improved performance. The demand is also backed by awareness among consumers of energy savings, increasing electricity prices, and government policies encouraging energy-efficient domestic technologies. With smart functions becoming increasingly integrated in appliances, motors now enable variable speed and load-sensitive operations managed via mobile apps or artificial intelligence-based systems. This overlap of energy efficiency, smart control, and green responsibility is redefining product development in home appliances and fuelling long-term demand for high-performance electric motors in worldwide markets.

Electric Motor Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels from 2025-2033. Our report has categorized the market based on motor type, voltage, rated power, magnet type, weight, speed, and application.

Breakup by Motor Type:

• AC Motor 
  • Induction AC Motor
  • Synchronous AC Motor
• DC Motor
  • Brushed DC Motor
  • Brushless DC Motor
• Others

AC motors dominate the market

The report has provided a detailed breakup and analysis of the market based on the motor type. This includes AC motor (induction AC motor and synchronous AC motor), DC motor (brushed DC motor and brushless DC motor), and others. According to the report, AC motors represented the largest segment.

AC motors dominate the market, driven by broad acceptance across industry lines for its high performance, reliability, and cost-effectiveness. The major use of AC motors, mainly induction motors, is witnessed where simple and rugged design is required, which makes them suitable for many applications, such as domestic appliances, HVAC, industrial machinery, and electric vehicles. AC motors are economical in the long run since they are efficient and durable. Thereby reducing maintenance costs and time loss during operations. Thus, this is providing impetus to the electric motor market growth. Advancement in technology further improves their efficiency and capabilities, such as developing variable frequency drives that allow bandwidth speed adjustment of the motor while saving energy. This is attributed to the versatility of AC motors concerning their handling of different loads and their ability to function under different environmental conditions. In addition, the continuous transition towards energy-efficient systems in the commercial and industrial sectors continues to play to the strengths of AC motors in terms of acclimatization, thereby assuring them a place ahead as the leading motor-type segment in the market.

Breakup by Voltage:

• Low Voltage Electric Motors
• Medium Voltage Electric Motors
• High Voltage Electric Motors

Low voltage electric motors hold the largest share of the market

A detailed breakup and analysis of the market based on the voltage has also been provided in the report. This includes low voltage electric motors, medium voltage electric motors, and high voltage electric motors. According to the report, low voltage electric motors accounted for the largest market share.

Low-voltage electric motors represent the largest market, due largely to their vast applications across residential, commercial, and industrial sectors. Most of the low-voltage motors run below 1,000 volts and have several positive factors, such as versatility and efficiency, besides ease of installation. They are commonly found in HVAC systems, pumps, and fans, compressors, and several types of automation equipment. Along with this, the growing emphasis on energy efficiency and regulatory standards that reduce energy consumption and carbon emissions supports the adoption of low-voltage motors. Advancements in the technology of motors, including high-efficiency models and better control systems are also creating electric motor market outlook. With a lower initial cost, reduced maintenance needs, and operational flexibility, low voltage electric motors have become a cost-effective solution across a wide range of applications, thereby ensuring the dominant position of these motors in the market.

Breakup by Rated Power:

• Fractional Horsepower Motors
  • Fractional Horsepower (< 1/8) Motors
  • Fractional Horsepower (1/8 - 1/2) Motors
  • Fractional Horsepower (1/2 - 1) Motors
• Integral Horsepower Motors
  • Integral Horsepower (1 - 5) Motors
  • Integral Horsepower (10 - 50) Motors
  • Integral Horsepower (50 - 100) Motors
  • Integral Horsepower (>100) Motors

Fractional horsepower motors dominates the market

The report has provided a detailed breakup and analysis of the market based on the rated power. This includes fractional horsepower motors [fractional horsepower (<1/8) motors, fractional horsepower (1/8 - 1/2) motors, and fractional horsepower (1/2 - 1) motors] and Integral Horsepower motors (integral horsepower (1 - 5) motors, integral horsepower (10 - 50) motors, integral horsepower (50 - 100) motors, and integral horsepower (>100) motors). According to the report, fractional horsepower motors represented the largest segment.

Fractional horsepower (FHP) motors are regarded as having a rated power output of less than one horsepower and dominate the rated power segment of the market. The requirement for these motors is escalating in numerous applications as they can possess compact size, be cost-effective, and yet be versatile. The major applications of FHP motors, usually found in household appliances, office equipment, medical devices, and small machinery, are driving components of any equipment that requires precise and dependable operation. Increasing automation in the residential and commercial sectors, including smart home devices and office automation systems, is contributing to the electric motor market revenue. Moreover, the miniaturization trend going on in the field of electronics and machinery also favors their adoption. In addition, manufacturers are continuously trying to change, and enhance the efficiency and performance of the FHP motors through the incorporation of advanced materials and changed technologies. Its major applications in consumer goods and improving small machine sectors in developing economies are also propelling its demand. This trend is further supported by the emergence of energy efficiency and sustainable practices, therefore solidifying their leading position in the rated power segment.

Breakup by Magnet Type:

• Ferrite
• Neodymium (NdFeB)
• Samarium Cobalt (SmCo5 and Sm2Co17)

Ferrite holds the largest share of the market

A detailed breakup and analysis of the market based on the magnet type has also been provided in the report. This includes ferrite, neodymium (NdFeB), and samarium cobalt (SmCo5 and Sm2Co17). According to the report, ferrite accounted for the largest market share.

The largest magnet type segment in the market is ferrite magnets due to cost factors and standard availability. Based on iron oxides and other metallic elements, ferrite magnets can provide a strong magnetic field at a lower cost as compared to neodymium. These are widely used in applications, including appliances, automotive parts, and machinery used in industries, where both performance and cost-effectiveness are expected. They have intrinsic properties, making them highly resistant to demagnetization and corrosion, which enables them to work perfectly in unfavorable conditions, thus again helping to make them more widespread in various areas. Continuous improvements in manufacturing methods are increasing magnetic properties and consistency in performance, strengthening ferrite magnets' position in the market. Moreover, their use is aligned with the pressure on sustainable and energy-efficient solutions as they improve the efficiency of electric motors without dramatically increasing production costs. According to the electric motor market forecast, the need for low-cost and highly reliable components will further continue the demand for ferrite magnets used in electric motor applications, establishing them as the largest magnet type segment in the market.

Breakup by Weight:

• Low Weight Motors
• Medium Weight Motors
• High Weight Motors

Low weight motors account for the majority of market share

The report has provided a detailed breakup and analysis of the market based on the weight. This includes low weight motors, medium weight motors, and high weight motors. According to the report, low weight motors represented the largest segment.

Low-weight electric motors are the largest weight segment of the market, driven mainly by the increasing demand for compact and efficient motor solutions across various industries. According to the electric motor market overview, these reduced-weight motors are witnessing huge scope in applications where space and weight constraints are critical, such as aerospace, automotive, and portable electronic devices. This centrifugal tendency of miniaturization and lightweighting in these industries is increasing the adoption rate of low-weight motors, since it improves performance, fuel efficiency, and handling easiness. Improved technology equipped these motors with high efficiency and durability by using lightweight materials such as aluminum and advanced composite materials. Consequently, the preference for low weight motors in various applications ensures a dominant position in the weight segment of the market.

Breakup by Speed:

• Ultra-High-Speed Motors
• High-Speed Motors
• Medium Speed Motors
• Low Speed Motors

High-speed motors hold the largest share of the market

A detailed breakup and analysis of the market based on the speed has also been provided in the report. This includes ultra-high-speed motors, high-speed motors, medium-speed motors, and low speed motors. According to the report, high-speed motors accounted for the largest market share.

High-speed motors continue to dominate the speed segment in the market, driven by their instrumentality in applications that require fast and efficient operation. High-speed electric motors, defined by their capability to spin or rotate at high speed, are used in vital industries such as aerospace, automotive, manufacturing, and consumer electronics. These motors are an extremely necessary part of the production of products that require timeshare precision and speed, such as CNC machining and robotics. Thus, this is positively influencing the electric motor market statistics. Various advanced technologies, most of which are related to cooling systems and high-strength materials, greatly improve the performance and reliability of high-speed motors and hence increase their application potential in uses with high demand. In addition, the automation and high-turnover processes in the industrial sectors drive demand for such motors. Moreover, the rising need for decreasing operational costs and increasing energy efficiency is propelling their demand, since they provide faster cycles of production and decrease energy consumption.

Breakup by Application:

• Industrial Machinery
• HVAC
• Transportation
• Household Appliances
• Motor Vehicles
• Aerospace
• Marine
• Robotics
• Others

Industrial machinery represents the largest application segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes industrial machinery, HVAC, transportation, household appliances, motor vehicles, aerospace, marine, robotics, and others. According to the report, industrial machinery represented the largest segment.

Industrial machinery forms the largest application segment of electric motors across the globe, due to the escalating requirements of reliable and efficient motor solutions in various manufacturing and processing industries. The motors are embedded in a host of equipment and machines such as conveyors, pumps, compressors, and machine tools during manufacture and processing, where uniform performance and higher durability become significantly important. Along with this, the rapid adoption of automation and Industry 4.0 technologies is further enhancing the electric motor demand within industrial settings. Smart manufacturing is a trend that involves advanced sensing devices, IoT devices, and control systems powered at their core by high-performance electric motors. Moreover, the impetus for greater energy efficiency and sustainability of industrialized operations coincides with the modern electric motor designed to minimize energy consumption and operational costs. Consequently, with their important role in improving productivity and efficiency, electric motors firmly establish their supremacy in the industrial machinery application segment.

Breakup by Region:

• Asia-Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

Asia Pacific leads the market, accounting for the largest electric motor market share

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for electric motors.

Asia Pacific dominates the electric motor market, driven by rapid industrialization, urbanization, and strong economic growth, led by countries such as China, India, Japan, and South Korea, which are investing heavily in infrastructure, manufacturing, and the automobile sector. Along with this, government incentives and initiatives aimed at reducing carbon emissions increase demand for electric vehicles. In addition to this, growing automation and advanced manufacturing technologies adoption in industries such as consumer goods, electronics, and automotive further drive the market growth. It is considered one of the few dominant regions due to the presence of many key players and cost-effective labor/ raw materials, as those conditions enhance its production capabilities. The market demand is further driven by the considerable rise in the middle-class population and disposable income levels, which is propelling the demand for household appliances and consumer electronics.

Key Regional Takeaways:

Asia-Pacific Electric Motor Market Analysis

The Asia-Pacific region leads the world in electric motor demand, fueled by exponential industrialization, urbanization, and strong manufacturing activity within China, India, Japan, and Southeast Asia. The region's solid automotive sector, especially in electric and hybrid vehicles, plays an important role in driving demand for high-efficiency motors. Additionally, the growth of industrial automation, smart factories, and manufacturing of consumer electronics drives motor applications in conveyors, robotics, and heating, ventilation, and air conditioning systems. Government policies encouraging energy-efficient technology, complemented by increasing investment in renewable energy technology like wind turbines and solar trackers, further drive market expansion. In addition to this, electric two-wheeler growth and e-mobility start-ups in nations like India and Vietnam also drive adoption in the transport segment. Being a region of huge production and consumption base with cost-efficient labor, plenty of supply chain, and robust export capacity, Asia-Pacific is a dominant production and consumption center for electric motors and holds a significant portion of the world market and is expected to experience strong growth.

North America Electric Motor Market Analysis

North America's electric motor market is supported by progress in industrial automation, transportation electrification, and increasing emphasis on energy efficiency. The automotive industry of this region, especially in the US and Canada, is increasingly using electric motors to drive EVs, hybrid cars, and powertrains. Incentives provided by federal and state governments for zero-emission vehicles and energy efficiency are driving adoption in residential as well as industrial segments. Electric motors are being used widely in HVAC applications, pumps, and smart home products in accordance with sustainability objectives. Availability of major motor-making industries and strong R&D facilities aids in the development of high-performance, compact, and power-efficient motors. Industrial processes like oil & gas, water treatment, and food processing also utilize electric motors for automation and operational efficiency. As industries digitalize and make investments in intelligent technologies, the demand for motors with controls built-in and IoT functionality in the region is likely to increase sustainably, providing good long-term prospects for the electric motor market.

Europe Electric Motor Market Analysis

Europe's electric motor market is largely influenced by its sustainability goals, advanced engineering industries, and high take-up of automation. Tightened environmental standards and EU-wide energy directives have propelled the trend toward energy-efficient motors, most notably IE3 and IE4 types. European automakers are some of the most innovative in EV technology, integrating electric motors across an increasing number of vehicles, from passenger cars to buses and heavy trucks. Germany, France, and the Nordic nations are at the forefront in applications of motors for wind power, smart grids, and building control systems. Industrial robots, commonly combined with high-precision electric motors, are spreading throughout manufacturing and warehousing functions. In addition, the circular economy approach focused on in the region is increasing the demand for long lifecycle and low maintenance motors. With proper regulatory systems, robust industrial automation, and advancements in e-mobility, Europe remains a very advanced and forward-thinking market for electric motors, with growth uniformly expected across industries.

Middle East and Africa Electric Motor Market Analysis

The MEA electric motor market is growing steadily, driven by growing infrastructure, industrialization, and investments in power and water utilities. Motors are an essential part of HVAC systems, desalination facilities, and oil & gas processing in the Middle East, especially the Gulf nations, where energy efficiency and reliability are paramount. The continuous transition towards clean energy, such as solar and wind projects in the UAE and Saudi Arabia, contributes to the use of electric motors in renewable uses. Infrastructure growth and electrification schemes in Sub-Saharan Africa are stimulating demand for motors in pumping water, agriculture, and small industrial manufacturing. The market is slowly moving from conventional systems to effective, low-maintenance motor solutions owing to increasing awareness and government initiatives toward sustainable methods. While now fragmented, MEA has untapped potential, and global investment in smart cities and utilities could also fuel the growth of the motor market in the next few years.

Latin America Electric Motor Market Analysis

The electric motor market in Latin America is fueled by industrial growth, automotive growth, and growing emphasis on energy-saving solutions. Brazil, Mexico, and Argentina are among countries experiencing higher adoption of electric motors in manufacturing, farming, and mining. The automotive industry in the region, comprising assembly plants and component makers, is adding motors to electric vehicle production and component manufacturing. Electrification, renewable energy goals, and upgrading public transport systems for modernization drive the growth of the motor market. In farming, motors find application in irrigation pumps, processing plant equipment, and refrigeration solutions. Power grid upgrades and hydropower schemes also depend on industrial motors for consistency. Economic and political issues hamper consistency between nations, yet localized manufacturing capacity and rising automation and efficiency trends suggest an improving trend. As the region solidifies infrastructure and embraces digitalization, demand for intelligent, long-lasting, and energy-efficient electric motors will continue to grow steadily.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the electric motor industry include ABB Group, Siemens Ag, WEG SA, TECO, Regal Beloit Corporation, and Nidec Corporation.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• Most of the key players operating in the market are engaged in research and development activities to make innovations in their products efficient, better in performance, and consistent in sustaining their work. In confluence with this, electric motor companies are engaging in efforts toward developing smart motors with IoT-integrated advanced sensors for predictive maintenance and real-time monitoring. Apart from that, strategic partnerships and acquisitions also exist to enhance product portfolios and gain market presence across the globe. Furthermore, the companies have also been increasing their focus on energy-efficient motor production that allows conformance to strict environmental regulations and feeding the growing demand for sustainable products. Furthermore, new product development efforts and cost-effective solution strategies are initiated to penetrate emerging markets, ensuring that these key players stay ahead of the competitors in this ever-changing electric motor market.

Electric Motor Market News:

• In June 2025, idec Corporation  furthered its footprint in the market of electric motors with the inauguration of its Orchard Hub manufacturing campus in Hubli, Karnataka. Supported by a $55 million investment, the plant would manufacture EV motors and energy solutions, with production commencing later in 2025, furthering sustainability.
• In May 2025,  ECM PCB Stator Tech launched its 'Eight Ball' servo motor with a 50:1 harmonic drive and patented PCB Stator design. Providing 18.8 Nm torque in an ultra-compact package, the innovation is aimed at robotics, aerospace, and medtech applications. ECM introduced new 0.5Nm and 2Nm Servo Evaluation Motors as well.
• In May 2025, Conifer revealed the production launch of its magnet-agnostic electric motors and in-wheel e-powertrains, backed by $20 million in seed investment. Equipped with compact axial flux designs and software-manufactured models, the motors provide high efficiency with ferrite or neodymium magnets, aiming at small mobility and stationary applications with lower costs and dependence on rare earth.
• May 16, 2024: Siemens AG approved to sell Innomotics, a leading global provider of electric motors and large drives to KPS Capital Partners, LP for €3.5 billion. The companies have signed a respective agreement. The future setup ensures that the Innomotics business has optimal structural conditions for sustainable and performance-related growth.
• September 22, 2023: ABB announced partnership with SMS Group to provide sets of MV motors, MV drives, and many LV drives for ArcelorMittal Nippon Steel's new hot strip mill in Hazira, India. The project aims to increase production capacity by 5.5 million tons per year, starting in 2025. The partnership aims to enhance rolling operations with ABB’s advanced direct torque control (DTC) technology, optimizing energy usage and ensuring top-quality steel production.

Electric Motor Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the electric motor market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global electric motor market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the electric motor industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.