Electric Motors Market

The expansion of the renewable energy sector is significantly influencing the Global Electric Motor Market Industry. As the world shifts towards cleaner energy sources, electric motors are increasingly utilized in applications such as wind turbines and solar energy systems. This trend is expected to drive demand for high-efficiency electric motors, which are essential for optimizing energy conversion processes. The integration of electric motors in renewable energy systems not only enhances performance but also aligns with global sustainability goals. Consequently, the market is likely to benefit from the growing investments in renewable energy infrastructure, further solidifying its position in the global economy.

The Global Electric Motor Market Industry is experiencing a notable surge in demand for energy-efficient solutions. As industries strive to reduce operational costs and comply with stringent environmental regulations, electric motors are increasingly favored for their efficiency. In 2024, the market is valued at approximately 150 USD Billion, reflecting a growing recognition of electric motors' role in energy conservation. This trend is particularly evident in sectors such as manufacturing and transportation, where electric motors contribute to significant energy savings. The shift towards sustainable practices is likely to propel the market further, as companies seek to enhance their green credentials.

Government policies and regulations play a pivotal role in shaping the Global Electric Motor Market Industry. Many countries are implementing stringent energy efficiency standards and incentivizing the adoption of electric motors across various sectors. For instance, initiatives aimed at reducing carbon emissions are prompting industries to transition from traditional motors to electric alternatives. These regulatory frameworks not only foster innovation but also create a conducive environment for market growth. As a result, the industry is expected to witness a compound annual growth rate of 6.7% from 2025 to 2035, driven by supportive government policies that encourage sustainable practices.

The rise of electric vehicles (EVs) is a major driver of growth in the Global Electric Motor Market Industry. As consumers and manufacturers alike prioritize sustainable transportation solutions, electric motors are becoming integral to vehicle design. The automotive sector is witnessing a rapid transition towards electrification, with electric motors providing the necessary power and efficiency for modern vehicles. This shift is expected to contribute significantly to the market's expansion, with projections indicating a valuation of 306.2 USD Billion by 2035. The increasing adoption of EVs not only enhances the demand for electric motors but also stimulates innovation in motor technology, further propelling market growth.

Technological innovations are transforming the Global Electric Motor Market Industry, leading to the development of advanced motor designs that enhance performance and reliability. Innovations such as brushless DC motors and permanent magnet synchronous motors are gaining traction due to their superior efficiency and compact size. These advancements not only improve energy consumption but also extend the lifespan of electric motors, making them more appealing to manufacturers. As industries increasingly adopt these technologies, the market is poised for growth, with projections indicating a potential valuation of 306.2 USD Billion by 2035. This evolution in motor technology is likely to redefine operational standards across various sectors.

By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American electric motor market sales area will dominate this market, driven by partnerships between charging infrastructure providers, automakers, and tech firms.

By collaborating, these projects want to improve the ecosystem as a whole—battery and charging infrastructure included—and hasten the uptake of electric vehicles. Numerous factors, such as tax incentives for purchasing electric vehicles, investments in charging infrastructure, and increased consumer awareness of environmental issues, are driving the expansion of the electric motor sales industry in the United States.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.

Figure 2: Electric Motor Market Sales Share By Region 2023 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe electric motor market sales accounts for the second-largest market share, driven by a number of reasons, such as laws and subsidies from the government that encourage sustainable transportation and the use of electric cars and motors. The European market for electric motor sales is expanding as a result of efforts to cut carbon emissions and the construction of infrastructure for charging them.

Further, the German electric motor market sales held the largest market share, and the UK electric motor market sales was the fastest growing market in the European region.

The Asia-Pacific electric motor market sales is expected to grow at the fastest CAGR from 2024 to 2032 as a result of significant industrialization investments made in nations like Australia, South Korea, China, India, and South Africa, as well as developments in the agricultural sector.

Additionally, there is a growing number of established OEMs and the rising sales and production of electric vehicles in nations like China and Japan. Moreover, China’s electric motor market sales held the largest market share, and the Indian electric motor market sales was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the electric motor market sales grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the electric motor sales industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global electric motor sales industry to benefit clients and increase the market sector. In recent years, the electric motor sales industry has offered some of the most significant advantages to medicine.

Major players in the electric motor market sales are attempting to increase market demand by investing in research and development operations, including 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.

One well-known international company with a reputation for excellence in power and automation technologies is ABB Ltd. ABB offers a wide range of motors, drives, and control solutions in the electric motor market sales. The company's dedication to energy efficiency and sustainability is in line with the rising demand for environmentally friendly electric motors. Customers searching for dependable and cutting-edge electric motor solutions frequently choose ABB due to its strong research and development capabilities and global reach.

Siemens AG operates in the domains of digitization, automation, and electrification. The business creates, develops, and produces goods in addition to installing intricate projects and systems. Additionally, the business offers a broad range of specially designed solutions to meet specific needs.

Siemens specializes in distributed energy systems, intelligent building infrastructure, and power generation and distribution. Siemens and MAHLE began working together in August 2022 to create an electric motor-based inductive charging solution for electric vehicles. Standardized measures were also implemented as part of this agreement to guarantee compatibility between electric vehicles and the charging infrastructure.