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Electric Motors Market Revenue Outlook: What CAGR Is Expected Through 2030?
The size of the electric motors market has shown consistent growth in recent years. It is projected to expand from $102.82 billion in 2025 to $105.8 billion in 2026, advancing at a compound annual growth rate (CAGR) of 2.9%. This historical expansion can be linked to factors such as rising industrialization, the growth of automotive sector, increasing household appliance usage, urban infrastructure development, and the adoption of conventional motors.
The electric motors market size is anticipated to experience consistent expansion over the upcoming years. Its value is projected to grow to $122.52 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.7%. This growth during the forecast period can be attributed to the shift towards electric vehicles, the demand for energy-efficient motors, the expansion of smart manufacturing, the increase in renewable energy applications, and advancements in motor automation. Prominent trends expected in the forecast period include high-efficiency motor design, low-maintenance motor solutions, miniaturization of electric motors, noise reduction and vibration control, and enhanced thermal management and cooling systems.
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Electric Motors Market Opportunity Drivers: What Is Creating New Revenue Potential?
The expanding sales of electric vehicles are anticipated to stimulate the expansion of the electric motors market. An electric vehicle (EV) is defined as a vehicle that operates either fully or partially on electrical power. The rising popularity of electric vehicles boosts the need for electricity to power their wheels. As an illustration, in May 2023, data from the International Energy Agency (IEA), an independent intergovernmental organization based in France, indicated that 10 million electric vehicles were sold in 2022, with sales rising to 14 million in 2023. Consequently, the escalating demand for electric vehicles (EVs) is a primary force behind the future expansion of the electric motors market.
#Electric Motors Market Segment Landscape And Growth Potential
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 Growth Trends Influencing Competitive Dynamics
Leading companies in the electric motors market are prioritizing new electric motors and controllers, such as the RM14530, RM16070, and RM16045 electric motor series, to improve EV performance, range, and efficiency. Electric motors are devices that transform electrical energy into mechanical energy, powering various systems like electric vehicles, appliances, and industrial machinery. Electric controllers manage and regulate these motors’ operations, optimizing performance by governing factors such as speed, torque, and power delivery to boost efficiency, reliability, and energy consumption. For instance, in February 2024, Attron Automotive, an India-based company focused on developing 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, showcasing the RM14530, RM16070, and RM16045 electric motor series and 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 Landscape: Who Are The Leading Companies?
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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Electric Motors Market Largest Region By Revenue And Market Share
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.