Driving Growth: Electric Motor Market Set for 3.32% CAGR, Reaching $157.0B by 2033

IMARC Group, a leading market research company, has recently released a report titled "Electric Motor Market Report by Motor Type (AC Motor, DC Motor, and Others), Voltage (Low Voltage Electric Motors, Medium Voltage Electric Motors, High Voltage Electric Motors), Rated Power (Fractional Horsepower Motors, Integral Horsepower Motors), Magnet Type (Ferrite, Neodymium (NdFeB), Samarium Cobalt (SmCo5 and Sm2Co17)), Weight (Low Weight Motors, Medium Weight Motors, High Weight Motors), Speed (Ultra-High-Speed Motors, High-Speed Motors, Medium Speed Motors, Low Speed Motors), Application (Industrial Machinery, HVAC, Transportation, Household Appliances, Motor Vehicles, Aerospace, Marine, Robotics, and Others), and Region 2025-2033". The study provides a detailed analysis of the industry, including the global electric motor market report, share, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How Big Is the Electric Motor Market?

The global electric motor market size reached USD 115.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 157.0 Billion by 2033, exhibiting a growth rate (CAGR) of 3.32% during 2025-2033. The market is experiencing steady growth driven by the growing demand for electric vehicles supported by stringent emission regulations, rapid urbanization and infrastructure development in emerging economies, rising trend of the miniaturization in the field of electronics, and continual technological advancements in manufacturing processes.

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Electric Motor Market Trends

The electric motor market is poised for significant transformation as it approaches 2025, driven by a combination of energy efficiency demands, the electric vehicle boom, and rapid technological advancements. One of the most notable trends is the growing emphasis on energy-efficient solutions, as industries seek to reduce their carbon footprints and comply with stricter environmental regulations. Electric motors, renowned for their efficiency, are becoming increasingly vital in this context, as organizations aim to optimize energy consumption and lower operational costs. By 2025, it is expected that electric motors will be at the forefront of energy management strategies, playing a crucial role in various applications from industrial automation to residential appliances.

Additionally, the expansion of the electric vehicle market is set to significantly impact the electric motor landscape. With major automotive manufacturers committing to electrification, the demand for high-performance electric motors is anticipated to surge. This shift will not only drive growth in the automotive sector but also create opportunities for electric motor manufacturers to innovate and adapt their products to meet the specific needs of EV applications.
Furthermore, technological advancements in electric motor design and manufacturing are expected to enhance performance and introduce new functionalities, such as smart connectivity and improved durability. Overall, the electric motor market is on a trajectory of robust growth, reflecting the industry's commitment to sustainability and innovation as it moves toward 2025.
Market Dynamics of the Electric Motor Market

Key Growth Prospects

• Growing Demand for Energy Efficiency: As global energy consumption escalates, there's an increasing emphasis from governments and industries on reducing energy waste and mitigating greenhouse gas emissions. Electric motors, inherently more efficient than traditional combustion engines, are becoming the preferred choice across diverse applications, from heavy industrial machinery to consumer appliances. By 2025, stringent energy efficiency standards (e.g., IE3, IE4) and supportive regulations will accelerate the adoption of high-efficiency motors, aligning with sustainability goals and offering significant operational cost savings for businesses. This shift is also driven by the long-term economic benefits and environmental advantages.

• Rapid Expansion of Electric Vehicles (EVs): The electric motor market is significantly impacted by the meteoric rise of the electric vehicle industry. The automotive sector is undergoing a profound transformation, with substantial investments flowing into the development and production of electric and hybrid vehicles to meet evolving consumer preferences and strict emission mandates. By 2025, the demand for high-performance electric motors, crucial components for EV propulsion systems, is expected to surge dramatically as EV adoption accelerates globally. The increasing availability of charging infrastructure and breakthroughs in battery technology further fuel this growth, making electric motors pivotal in shaping the future of sustainable mobility and opening vast opportunities for manufacturers.

Major Market Trends

• Technological Advancements and Smart Motor Integration: Innovation is a core driver, leading to electric motors with improved performance, durability, and functionality. Key advancements include enhanced materials, optimized designs, and refined manufacturing processes that yield more efficient and compact motors for a wider array of applications. By 2025, the integration of smart technologies-such as IoT connectivity for real-time monitoring, AI-powered predictive maintenance, and advanced control algorithms-is set to revolutionize the industry. These innovations not only boost operational efficiency and reliability but also enable seamless integration into automated and smart manufacturing systems, driving further research and development.

• Miniaturization and Customization: There is a growing trend towards developing more compact, application-specific, and highly customized electric motors. This is particularly evident in sectors like consumer electronics, robotics, and medical devices, where space is at a premium, and precise control is critical. Manufacturers are leveraging advanced design tools and additive manufacturing (3D printing) to create motors tailored to unique performance requirements.

• Emergence of New Motor Technologies: Beyond traditional AC and DC motors, there's increasing exploration and adoption of advanced motor types like Permanent Magnet Synchronous Motors (PMSMs), Switched Reluctance Motors (SRMs), and Axial Flux Motors. PMSMs, in particular, are highly favored in EV applications due to their high power density and efficiency. Research into novel materials like high-temperature superconductors and nanomaterials is also pushing the boundaries of motor design and performance.

• Focus on Total Cost of Ownership (TCO): While high-efficiency motors might have a higher initial cost, the long-term energy savings and reduced maintenance requirements lead to a lower total cost of ownership. This economic benefit, coupled with regulatory compliance, is increasingly influencing purchasing decisions across industries.

• Regional Growth Dynamics: The Asia-Pacific region is anticipated to dominate the global electric motor market, driven by rapid urbanization, extensive industrialization (especially in China and India), and significant investments in EV manufacturing and smart infrastructure. Europe and North America also maintain strong positions, spurred by stringent energy efficiency regulations and ongoing technological innovation.

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Electric Motor Market Report Segmentation:

By Motor Type:

AC Motor

• Induction AC Motor
• Synchronous AC Motor

DC Motor

• Brushed DC Motor
• Brushless DC Motor

Others

AC motors represent the largest segment due to their widespread use in various applications from industrial machinery to household appliances.

By Voltage:

• Low Voltage Electric Motors
• Medium Voltage Electric Motors
• High Voltage Electric Motors

Low-voltage electric motors dominate the market because they are commonly used in most industrial and commercial applications requiring moderate power consumption.

By Rated Power:

Fractional Horsepower Motors

• Fractional Horsepower (< 1/8) Motors
• Fractional Horsepower (1/8 - 1/2) Motors
• Fractional Horsepower (1/2 - 1) Motors

Integral Horsepower Motors

• Integral Horsepower (1 - 5) Motors
• Integral Horsepower (10 - 50) Motors
• Integral Horsepower (50 - 100) Motors
• Integral Horsepower (>100) Motors

Fractional horsepower accounts for the majority of the market share owing to its extensive use in small appliances and equipment where lower power outputs suffice.

By Magnet Type:

• Ferrite
• Neodymium (NdFeB)
• Samarium Cobalt (SmCo5 and Sm2Co17)

Ferrite motors represent the market segment due to their cost-effectiveness and suitability for a wide range of applications from consumer electronics to automotive components.

By Weight:

• Low Weight Motors
• Medium Weight Motors
• High Weight Motors

Low weight motors sector dominates the market driven by demand in applications where lightweight components are crucial for efficiency and portability.

By Speed:

• Ultra-High-Speed Motors
• High-Speed Motors
• Medium Speed Motors
• Low Speed Motors

The high-speed motors sector accounts for the largest market share as they are essential for applications requiring rapid rotation and precision, such as in machining and robotics.

By Application:

• Industrial Machinery
• HVAC
• Transportation
• Household Appliances
• Motor Vehicles
• Aerospace
• Marine
• Robotics
• Other

The industrial machinery sector holds the largest market share reflecting the extensive use of electric motors in manufacturing, processing, and automation across industries.

Regional Insights:

• Asia-Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

Asia Pacific leads the market due to rapid industrialization, infrastructure development, and increasing adoption of electric vehicles and consumer electronics in countries like China and India.

Competitive Landscape with Key Players:

The competitive landscape of the electric motor market size has been studied in the report with the detailed profiles of the key players operating in the market.

Some of These Key Players Include:

• ABB Group
• Siemens AG
• WEG SA
• TECO
• Regal Beloit Corporation
• Nidec Corporation

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Key Highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.