The Business Research Company’s 2026 market reports are designed to deliver research that is more actionable and strategically valuable. Key offerings include market attractiveness scoring, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, deeper supply chain intelligence, emerging startup tracking, and granular product-level insights.
Electric Motors Market Historical Growth Vs. Forecast Growth: How Do The Numbers Compare?
The electric motors market has shown consistent expansion in recent years. It is anticipated to increase from $102.82 billion in 2025 to $105.8 billion in 2026, registering a compound annual growth rate (CAGR) of 2.9%. Historically, this market’s growth can be attributed to factors such as increasing industrialization, expansion within the automotive sector, greater household appliance usage, developments in urban infrastructure, and the adoption of conventional motors.
The electric motors market is anticipated to experience consistent expansion over the upcoming years. This market is projected to reach a valuation of $122.52 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.7%. This projected increase can be ascribed to factors such as the transition towards electric vehicles, rising need for energy-efficient motors, the enlargement of smart manufacturing processes, an uptick in renewable energy applications, and advancements in motor automation technologies. Significant developments expected during this period encompass high-efficiency motor designs, solutions for low-maintenance motors, the miniaturization of electric motors, improved noise reduction and vibration control, and advanced thermal management along with cooling systems.
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The Leading Growth Driver In The Electric Motors Market Explained
The rising sales of electric vehicles are projected to fuel the expansion of the electric motors market. An electric vehicle (EV) is defined as one that operates either entirely or partially on electricity. The increasing adoption of electric vehicles, in turn, boosts the requirement for electric power to propel their wheels. For example, in May 2023, the International Energy Agency (IEA), a France-based independent intergovernmental organization, reported that 10 million electric vehicles were sold in 2022, a figure which climbed to 14 million in 2023. Hence, the escalating demand for electric vehicles (EVs) is set to stimulate the future growth of the electric motors market.
Key Segments Shaping The Electric Motors Market Landscape
The electric motors market covered in this report is segmented –
1) By Type: Alternate Current (AC) Motor, Direct Current (AC) Motor, Hermetic Motor
2) By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP)
3) By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace And Transportation, Household Appliances, Other Commercial Applications
Subsegments:
1) By Alternate Current (AC) Motor: Synchronous AC Motors, Asynchronous (Induction) AC Motors, Single-Phase AC Motors, Three-Phase AC Motors
2) By Direct Current (DC) Motor: Brushed DC Motors, Brushless DC Motors (BLDC), Shunt DC Motors, Series DC Motors, Compound DC Motors
3) By Hermetic Motor: Hermetically Sealed Compressor Motors, Hermetically Sealed Refrigeration Motors
Electric Motors Market Trend Spotlight: Key Shifts Shaping Future Demand
Major players in the electric motors market are concentrating on advanced electric motors and controllers, such as the RM14530, RM16070, and RM16045 electric motor series, to improve electric vehicle performance, range, and efficiency. Electric motors are devices that transform electrical energy into mechanical energy, powering diverse systems like electric vehicles, appliances, and industrial equipment. Electric controllers manage and regulate these motors, optimizing performance by controlling elements such as speed, torque, and power delivery to boost efficiency, reliability, and energy consumption. For example, in February 2024, Attron Automotive, an India-based company dedicated to creating and manufacturing advanced electric motors and controllers for electric vehicles (EVs) and other mobility applications, launched its new electric motors and controllers at the Bharat Mobility Expo 2024. This showcased the RM14530, RM16070, and RM16045 electric motor series, along with the CTR072500 controller. These innovative products, featuring high-efficiency and integrated IPM PMSM motors, are designed to enhance the performance, range, and acceleration of EVs, while simultaneously reducing costs and promoting sustainability in the electric mobility sector.
Electric Motors Market Competitive Analysis: Who Are The Main Competitors?
Major companies operating in the electric motors market are Asea Brown Boveri (ABB) Ltd., ARC Systems Inc, Asmo Co. Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek Inc., Baldor Electric Company Inc., Allied Motion Technologies Inc., Franklin Electric Co. Inc., Johnson Electric Holdings Limited, Robert Bosch GmbH, Denso Corporation, Toshiba International Corporation, General Electric Company, Nidec Corporation, WEG S.A., Hitachi Ltd., Hyosung Corporation, Danaher Corporation, Teco Electric Machinery & Co., Dr. Fritz Faulhaber GmbH Co. KG, Maxon Motor AG, Mitsubishi Electric, Panasonic, Shandong, Bulher Motor Gmbh, BorgWarner Inc, Continental AG, Schneider Electric SE, Sumitomo Heavy Industries Ltd., Yaskawa Electric Corporation, Zhejiang Founder Motor Co. Ltd., Marathon Electric, Kirloskar Electric Company Limited
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Mapping The Electric Motors Market: Regional Leadership And Global Reach
Asia-Pacific was the largest region in the electric motors market in 2025. Western Europe was the second-largest region in the electric motors market. The regions covered in the electric motors market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
