According to a recent report by TechSci Research titled “Electric Motor Market - Global Industry Size, Share, Trends, Competition Forecast Opportunities, 2030F,” the global electric motor market is poised for significant expansion over the forecast period from 2026 to 2030. In 2024, the market was valued at USD 141.68 billion, and it is projected to reach USD 247.64 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.59%.
This robust growth is being fueled by a combination of factors, with increasing government support for sustainable technologies, rising demand for energy-efficient systems, and the global transition toward electric vehicles (EVs) leading the charge. Electric motors, being central to various applications ranging from household appliances and industrial machinery to EVs and renewable energy systems, are seeing rising demand across multiple sectors.
Government Support and Energy Efficiency Regulations
One of the most influential drivers of the electric motor market is the regulatory push from governments worldwide toward sustainability and carbon reduction. Policymakers are encouraging the adoption of low-emission, energy-efficient technologies through legislation, subsidies, and performance standards. These supportive frameworks have created a favorable environment for the increased deployment of electric motors in diverse applications.
A key example of this regulatory influence is the introduction of stringent energy efficiency standards for motors. Bodies such as the International Electrotechnical Commission (IEC) have established performance benchmarks that manufacturers must meet. These global standards not only ensure consistency and reliability but also stimulate innovation in the development of high-efficiency motors. As a result, manufacturers are increasingly investing in RD to produce motors that comply with these standards, further boosting the market.
Technological Advancements and Integration Challenges
Electric motors are evolving with technological advancements, incorporating sophisticated features such as variable speed control, digital monitoring, and integration with Internet of Things (IoT) systems. These innovations significantly enhance performance and energy efficiency, offering considerable benefits to end-users.
However, the increasing complexity of electric motor systems also presents certain challenges. Integrating new, advanced motor technologies into existing industrial infrastructure can be a demanding process. Many industries still rely on legacy systems that are not compatible with modern electric motor designs. Retrofitting such systems requires extensive modification, potentially leading to operational downtime, increased costs, and production delays.
For industries that prioritize continuous operation and cost-efficiency, this can be a deterrent. As such, while the benefits of advanced electric motors are clear, overcoming integration hurdles will be essential to widespread market adoption. Industry players are responding by developing retrofit-friendly solutions and offering integration support services to ease this transition.
Dominance of the Industrial Segment
Based on end-use, the industrial segment held the largest share of the global electric motor market in 2024 and is expected to maintain its dominance through 2030. The extensive use of electric motors in industrial applications—such as automation, material handling, and manufacturing machinery—is a major contributor to this segment’s growth.
The ongoing shift toward industrial automation and energy optimization is further driving demand. Sectors like chemicals, cement, paper and pulp, water and wastewater treatment, and food processing heavily depend on electric motors for operational efficiency. As industries strive to improve productivity while adhering to energy standards, the demand for robust, efficient motors continues to rise.
In addition to automation, the adoption of smart factory systems and Industry 4.0 principles is expanding the role of electric motors in data-driven, interconnected manufacturing environments. These systems rely on precision motor control and real-time data, placing electric motors at the core of future-ready industrial operations.
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North America: The Fastest-Growing Regional Market
In 2024, North America emerged as the fastest-growing region in the global electric motor market. This growth can be attributed to several interrelated factors, including strong regulatory support for sustainability, the rise of the electric vehicle industry, and major investments in renewable energy infrastructure.
Governments in the U.S. and Canada are actively promoting energy-efficient technologies through tax incentives, grants, and strict efficiency standards. Industries are increasingly adopting high-efficiency motors and variable frequency drives (VFDs) to optimize energy use and reduce operating costs. These technologies help industries meet regulatory targets while enhancing overall system performance.
The surge in electric vehicle adoption in North America is also a key driver. As automakers ramp up EV production to meet emission targets and consumer demand, the need for electric motors—especially for vehicle traction and auxiliary systems—has increased exponentially. This trend is expected to continue with growing investment in EV infrastructure, including battery manufacturing plants and charging networks.
Additionally, the expansion of renewable energy projects such as wind farms and solar installations is boosting demand for electric motors. These motors are integral to energy conversion systems, powering turbine blades, adjusting panel angles, and managing storage and distribution. As clean energy becomes a larger part of the grid, the need for efficient and reliable electric motors will only intensify.
Conclusion
The global electric motor market is on a strong growth trajectory, underpinned by the rising demand for energy-efficient solutions, the expansion of the electric vehicle industry, and government policies aimed at environmental sustainability. While technological complexity and infrastructure integration present challenges, the market is expected to overcome these hurdles through continued innovation and supportive regulatory frameworks.
As industries across the globe transition toward cleaner, smarter technologies, electric motors will play an increasingly central role in shaping the future of manufacturing, transportation, and energy.
Key market players in the Electric Motor Market are: -
General Electric Company
ABB Ltd
Schneider Electric SE
Siemens AG
Rockwell Automation, Inc.
Mitsubishi Electric Corporation.
Emerson Electric Co.
Yaskawa Electric Corporation.
Toshiba Corporation.
Nidec Corporation
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“The Electric Motor market is poised for robust growth driven by increasing demand for energy-efficient technologies, particularly in automotive, industrial automation, and HVAC applications. Advancements in electric vehicle adoption and stringent regulations promoting energy efficiency are key factors propelling market expansion. Innovations in motor design focusing on performance enhancement, durability, and reduced operational costs are expected to further accelerate growth.
Moreover, investments in renewable energy and smart infrastructure initiatives globally will create new opportunities for market expansion, fostering a positive outlook for the Electric Motor market in the foreseeable future.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“Electric Motor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (AC Motors, DC Motors and Hermetic Motors), By Output Power (Above 1HP and Upto 1HP), By End Use (Residential, Commercial, Industrial, Transportation and Others), By Region, By Competition, 2020-2030F” has evaluated the future growth potential of Electric Motor Market and provides statistics information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Electric Motor Market.
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