US Electric Motors Market Share Expected to Reach $42.07 billion by 2029

The global US electric motors market share is expected to grow from estimated $31.06 billion in 2024 to $42.07 billion by 2029, at a CAGR of 6.3% during the forecast period.
The global US Electric Motors Market [https://www.marketsandmarkets.com/Market-Reports/electric-motor-market-alternative-fuel-vehicles-717.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=electric-motors] share is expected to grow from USD 31.06 billion in 2024 to USD 42.07 billion by 2029, at a CAGR of 6.3% during 2024-2029. The electric motors market in US is growing as energy efficiency solutions become increasingly visible and demanded across all segments. Besides contributing renewable energy systems and electric vehicles to smart manufacturing, the country's electric motors are quite linked to the sustainability goals of the nation. Among the benefits reapable from the use of electric motors are reduction of energy, cost savings in operations, and the elimination of emissions from the overall energy portfolio. The adoption is further assisted through government policies and incentives that stimulate energy-efficient technologies. Innovations in motor technologies such as brushless DC motors and variable frequency drives have improved performance, reliability, and flexibility of applications hence promoting the growth of the market.

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According to type, the US Electric motors market is classified as follows- AC motors, and DC motors. In modern buildings, AC motors are common in industrial and commercial applications. They are very durable and require minimum maintenance and efficiency very high. They are mostly used in heating, ventilation, and air conditioning, pumping systems and conveyors. These are some of the primary reasons for which the surge in renewable energy systems such as wind turbines will further increase the demand for AC motors. On the other hand, the DC motors majorly serve applications needing high accuracy and variable-speed classes such as robotics and electric vehicles aside from mobile equipment. It is the growing market for electric cars and developments in battery technology that is critical for the growth of the DC motor industry. Innovations like variable frequency drives and the IoT will prove beneficial for both motor types by further putting emphasis in better control, monitoring, and efficiency. All in all, demand is projected to increase in the market based on energy conservation and advances in technology.

The end-user segment of the US Electric motors market is made up of industrial, residential, commercial, transportation, and agriculture. In the industrial sector, the use of electric motors in automation for manufacturing processes, and more energy-efficient operations now demands efficient motors that will be used in conveyors, pumps, and robotic systems. The commercial field will thrive with more and more motors being used for HVAC systems, elevators, and escalators in pursuit of urbanization and energy efficiency. In the residential sector, common consumers adopt washing machines, refrigerators, and HVAC units that promise energy efficiency as affordable benefits with common views on environmental threats. On the other hand, the transportation segment is growing rapidly because of a rapid increase in the deployment of electric vehicles. In this respect, advanced electric motors have a major role in the future with respect to improving the efficiency, performance, and range of electric vehicles. In agriculture, motors are used mainly to power irrigation systems, sets of grain handling equipment, and automated feeder systems. The electric motor market in the US has achieved significant growth in nearly all of its end-use sectors because of technological advances and an improvement in the demand for engine works brought by the sustainability drive and changing needs of the industries.

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Major players in the US Electric Motors Market include Regal Rexnord Corporation (US), AMETEK, Inc. (US), Allied Motion Technologies (US), Rockwell Automation (US), Franklin Electric (US), ABB (Switzerland), Siemens (Germany), and Nidec Corporation (Japan) among others. These companies focus on innovation, product development, and strategic partnerships to cater to the growing demand for elevator component market.

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