Electric Motor Sales Market is predicted to reach USD 267.4 billion at a CAGR of 8.90% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Electric Motor Sales Market”.

The electric motor sales market is estimated to register a CAGR of 8.90% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global electric motor sales market - ABB Ltd., Johnson Electric Holdings Limited, Allied Motion Technologies, Inc., Ametek Inc., Nidec Motor Corporation, Siemens, Franklin Electric Co., Inc., Schneider Electric, Regal Rexnord Corporation, and ORIENTAL MOTOR USA CORP.

Market Highlights

The global electric motor sales market is accounted to register a CAGR of 8.90% during the forecast period and is estimated to reach USD 267.4 billion by 2032.

One of the main factors propelling the industry has been consumers' growing awareness of green automobiles. In addition, the market is anticipated to be boosted by an increasing number of government subsidies designed to promote the sale of environmentally friendly cars and protect the environment from carbon emissions. Over the past few years, electric motors have seen significant technological improvements, which has increased demand for them. Better insulating materials have also extended product life and increased operational efficiency, which has propelled the industry.

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Segment Analysis

The global electric motor sales market has been segmented into product type, application type, and power output.

On the basis of product type, the market is segmented into AC Motors, DC Motors, and Hermetic Motors. The AC motors segment was attributed to holding the largest market share in 2023. This high proportion may be explained by the fact that AC motors are used in a variety of applications, ranging from modern robots to irrigation pumps. They are lighter, more affordable, and smaller and are also frequently utilized in HVAC equipment. The usage of electric AC motors in the automobile sector has increased significantly as a result of developments in permanent magnetic materials and more accessible, high-performing electronics.

Based on application type, the global electric motor sales market has been segmented into Aerospace & Transportation, Industrial Machinery, Motor Vehicles, HVAC Equipment, Household Appliances, and Others. The industrial machinery segment was expected to hold the largest market share in 2023. Electric motors are utilized for product processing and manufacturing through compressors, pumping systems, and other turbocharged machinery in a wide range of industries, including chemicals, natural gas production, metallurgy, mining, and the beverage and food sectors.

Based on power output, the global electric motor sales market has been segmented into Integral HP Output and Fractional HP Output. The fractional HP output segment was expected to hold the largest market share in 2023 because of its wide range of uses in a variety of household equipment, such as hoover cleaners, refrigerators, and coffee machines. They are frequently used in industrial equipment because they perform well in demanding industrial environments. These motors offer several advantages, including strong starting torque and stability against variations in electric current.

Regional Analysis

The global electric motor sales market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe electric motor sales market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The electric motor sales market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World electric motor sales market comprises the Middle East, Africa, and Latin America.

The largest market share for electric motor sales was maintained by the North American regional sector powered by collaborations between tech companies, manufacturers, and suppliers of charging infrastructure. These initiatives aim to accelerate the adoption of electric cars by working together to enhance the ecosystem overall, including the infrastructure for batteries and charging.

Moreover, the Europe market has been persistently growing over the forecast period, motivated by several factors, including government regulations and financial aid that promote environmentally friendly transportation and the usage of electric vehicles and engines. As a consequence of initiatives to reduce carbon emissions and the development of infrastructure for charging them, the European market for electric motor sales is growing.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to substantial agricultural advancements and industrialization investments made in countries such as Australia, South Korea, China, India, and South Africa. In addition, there are an increasing number of well-known OEMs, and countries like China and Japan are producing and selling more electric cars.

Furthermore, the rest of the world's electric motor sales market is divided into the Middle East, Africa, and Latin America. The rest of the world's electric motor sales market is propelled by the oil and gas industry's growing need for motors, the mining sector's explosive growth, and the construction sector's substantial cement consumption. Moreover, motors in electric vehicles, renewable energy, and smart infrastructure have prospects due to government plans to develop smart cities.

Key Findings of the Study

• The global electric motor sales market is expected to reach USD 267.4 billion by 2032, at a CAGR of 8.90% during the forecast period.


• Asia-Pacific region accounted for the fastest-growing global market due to substantial agricultural advancements and industrialization investments made in countries such as Australia, South Korea, China, India, and South Africa.


• Based on application type, the industrial machinery segment was attributed to holding the largest market in 2023, with an approximate market share of 35%.


• ABB Ltd., Johnson Electric Holdings Limited, Allied Motion Technologies, Inc., Ametek Inc., Nidec Motor Corporation, Siemens, Franklin Electric Co., Inc., Schneider Electric, Regal Rexnord Corporation, and ORIENTAL MOTOR USA CORP are the key market players.