North America Electric Motor Market Size to Reach USD 37.1 Billion by 2033 | Grow CAGR by 2.24%

North America Electric Motor Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 2.24% (2025-2033)

Rising industrial automation, increasing EV adoption, and growing demand for energy-efficient motors are driving the North America electric motor market. The North America electric motor market size reached USD 30.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 37.1 Billion by 2033, exhibiting a growth rate (CAGR) of 2.24% during 2025-2033.

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North America Electric Motor Industry Trends and Drivers:

The North America electric motor market is undergoing significant transformation, largely propelled by the increasing demand for energy-efficient solutions across various sectors. As industries strive to reduce operational costs and minimize their carbon footprints, electric motors are becoming the preferred choice over traditional combustion engines. The automotive sector, in particular, is witnessing a remarkable shift towards electric vehicles (EVs), driving the demand for high-performance electric motors. Innovations in motor technology, such as advancements in brushless DC motors and integrated motor drives, are enhancing efficiency and reliability, further encouraging their adoption. Additionally, the push for renewable energy sources is fostering the growth of electric motors in applications like wind turbines and solar power systems, as these technologies require reliable and efficient motor solutions to optimize energy conversion and management.

Moreover, the trend towards automation and smart technologies is significantly influencing the electric motor market in North America. Industries are increasingly integrating electric motors into automated systems, enhancing productivity and operational efficiency. The rise of the Internet of Things (IoT) is also playing a crucial role, as connected electric motors allow for remote monitoring and predictive maintenance, reducing downtime and maintenance costs. Furthermore, the growing focus on sustainability is prompting manufacturers to develop electric motors that not only meet performance standards but also adhere to environmental regulations. As a result, the North America electric motor market is expected to continue its upward trajectory, driven by technological advancements, a shift towards electrification, and an increasing emphasis on energy efficiency and sustainability across multiple industries.

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North America Electric Motor Industry Key Market Segmentation:

The report has segmented the market into the following categories:

Type Insights:

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

Voltage Insights:

● Low Voltage Electric Motors
● Medium Voltage Electric Motors
● High Voltage Electric Motors

Speed Insights:

● Ultra-High-Speed Motors
● High-Speed Motors
● Medium Speed Motors
● Low Speed Motors

Applications Insights:

● Industrial Machinery
● HVAC
● Transportation
● Household Appliances
● Motor Vehicles
● Others

Country Insights:

● United States
● Canada

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

● Market Performance (2019-2024)
● Market Outlook (2025-2033)
● COVID-19 Impact on the Market
● Porter's Five Forces Analysis
● Historical, Current and Future Market Trends
● Market Drivers and Success Factors
● SWOT Analysis
● Structure of the Market
● Value Chain Analysis
● Comprehensive Mapping of the Competitive Landscape

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About Us

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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This release was published on openPR.