According to Custom Market Insights (CMI), the Global Electric Motor Market was valued at approximately USD 165 billion in 2021 and is projected to reach nearly USD 322 billion by 2030. This signifies a compound annual growth rate (CAGR) of around 7% from 2022 to 2030. The comprehensive research report offers an in-depth 4.5-degree analysis of the key market drivers and restraints, as well as their impact on demand during the forecast timeline. Additionally, it provides insights into global opportunities and a detailed competitive landscape of the Electric Motor market.

Electric Motor Market: Overview

Electric motors are integral components in a wide variety of applications, including compressors, pumps, automobiles, shop tools, lathes, power tools, household appliances, and electric vehicles. While these motors may come at a higher upfront cost, they are widely preferred over conventional engines due to their numerous advantages. These include extended operational life, energy efficiency, reduced maintenance needs, and superior tolerance to voltage fluctuations.

The increasing focus on energy efficiency and productivity in industrial applications is expected to fuel the demand for high-performance electric motors. As industries seek to reduce energy consumption and enhance operational performance, electric motors have become a key technology across multiple sectors.

To explore the full “Electric Motor Market Size, Trends and Insights By Type (AC, DC), By Output Power (>1HP, <1HP), By Rotor Type (Inner Rotor, Output Rotor), By End-user (Industrial, Commercial, Residential, Agriculture, Automotive, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030,” visit:
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Growth Factors

One of the major drivers of electric motor demand is the widespread use of HVAC systems, which are essential in maintaining indoor air quality and thermal comfort. These systems are especially critical in large-scale commercial structures, such as office buildings and shopping malls. The continued expansion of industrial and commercial development in countries such as China and India is contributing to the increasing demand for HVAC systems across the Asia Pacific region. Given their connection to the construction industry, HVAC systems are poised to further stimulate market growth over the coming decade.

Additionally, the growing interest in vector manufacturing is reflected in a rise in collaborations and partnerships among stakeholders within this sector. These strategic alliances have various objectives based on specific needs, such as the production of vector promoters, the construction or acquisition of manufacturing infrastructure, and the licensing of vector manufacturing technologies—either inward or outward.

Segmental Overview

The electric motor market is categorized based on type, output power, rotor type, and end-user industries. Among these, the segment based on output power indicates that motors rated at 1 horsepower or above are expected to lead the market from 2022 through 2030. The compact design, lightweight nature, and minimal maintenance requirements make electric motors highly suitable for numerous consumer applications. Furthermore, their adoption in industrial and transportation sectors is expected to grow significantly over the forecast period.

With respect to end-users, the automotive segment is projected to hold a dominant position in the electric motor market. This trend is primarily driven by the increasing integration of electric motors within modern vehicles. A standard commercial vehicle may incorporate as many as 40 electric motors, each serving distinct power requirements.

The development of advanced, cost-effective electronics and improvements in permanent magnetic materials have further strengthened the role of electric motors in the automotive industry. In both developed and developing economies—including Germany, the United States, China, and Japan—demand for electric vehicles is growing rapidly. This surge is driven by escalating fuel costs and increasing environmental concerns, thus creating significant opportunities for electric motor manufacturers serving the electric vehicle sector.

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Regional Overview

In 2021, the Asia Pacific region emerged as the leading market, accounting for approximately 45 percent of the global revenue share. The region's dominance can be attributed to advancements in the agricultural sector and significant industrial investments made by countries such as China, India, South Korea, and Australia. Furthermore, the presence of leading original equipment manufacturers (OEMs), including Honda Motor Co., Ltd., Hyundai Motor Company, Toyota Industries Corporation, and Nissan Motor Corporation, is expected to further support market expansion. The growing production and sales of electric vehicles in key countries such as China and Japan also contribute to the robust growth outlook in this region.

Following Asia Pacific, Europe and North America have also captured notable market shares and continue to experience rising product demand. These regions are major consumers of premium efficiency motors, which are widely used in electric vehicles, industrial machinery, and HVAC systems. Government support in the form of incentives and regulations further promotes the adoption of energy-efficient motors in these markets.

Looking ahead, regions such as Latin America, the Middle East, and Africa are expected to show promising growth potential. These emerging markets are seeing increased demand for electric motors from various industries, including oil and gas, mining, and construction. The substantial demand for cement in the construction sector, coupled with ongoing infrastructure development, is expected to contribute to market expansion in these areas.

Prominent Players

The global electric motor market is highly competitive and includes a diverse set of industry players known for innovation and broad product portfolios. Key market participants include:

ABB Group
DENSO
ARC Systems Inc.
Siemens AG
General Electric
Asmo Co. Ltd.
Nidec Motor Corporation
Regal Beloit Corporation
WEG
Toshiba Corporation
Hitachi
Emerson Electric
Bosch
Johnson Electric Holdings Limited
Maxon Motors AG
Rockwell Automation Inc.
AMETEK Inc.

https://www.custommarketinsights.com/report/electric-motor-market/