Snapshot img { margin: 10px !important; } Electric Motor Sales Market Size 2025-2029

The electric motor sales market size is forecast to increase by USD 52.7 billion, at a CAGR of 6.1% between 2024 and 2029.

The global shift to electromobility is a primary driver for the electric motor sales market, with the automotive industry's transition toward electric vehicles (EVS) and robotics creating substantial demand for advanced electric drives. This is complemented by the rising adoption of high-efficiency HVAC systems, which require sophisticated electric motors to enhance thermal comfort and air quality in buildings. A key focus is on improving electrical energy conversion and the durability of motor components. Consequently, the demand for both synchronous electric motors and direct current (DC) motor market products is expanding. The development of specialized components for the electric trucks market is also gaining momentum, indicating a broad-based evolution in motor technology and application.Despite the positive trajectory, the market's integrity is challenged by the easy availability of low-cost, inferior-quality motors from unorganized sectors. These products often suffer from issues like low resistance, electrical overload, and frequent vibrations, which can compromise the efficiency and safety of associated machinery. This dynamic affects the broader electric motors accessories market and complicates procurement for industrial buyers seeking high-quality components. Product quality remains a key differentiator for established players that serve industrial clients, as ensuring high standards is crucial for maintaining performance and reliability in systems ranging from industrial machinery to electric motorcycles.

What will be the Size of the Electric Motor Sales Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019 - 2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market is characterized by ongoing advancements in electrical energy conversion technologies, aimed at enhancing the performance of automotive propulsion systems and industrial machinery. Innovations in motor magnetic field design are leading to high power density motors with precise control capabilities. This evolution is critical for the expanding electric trucks market, where durable motor components and efficient mechanical energy conversion are paramount. The focus remains on developing solutions that support both automation sustainability and improved energy conservation across various applications.A key area of development involves the integration of smart motor controls and iot motor connectivity to enable real-time condition monitoring and predictive maintenance. This shift transforms traditional motors into intelligent assets, optimizing operational efficiency and reducing downtime. The application of these technologies is evident in the direct current (DC) motor market and for synchronous electric motors. These advancements are instrumental in creating more resilient and responsive systems, from household appliance motors to complex industrial automation motors, driving value beyond basic functionality.

How is this Electric Motor Sales Industry segmented?

The electric motor sales industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments. ApplicationIndustrialResidentialCommercialAutomotiveChannelOEMsAftermarketTypeAC motorsDC motorsHermetic motorsGeographyAPACJapanChinaIndiaSouth KoreaAustraliaIndonesiaEuropeGermanyUKFranceItalySpainThe NetherlandsNorth AmericaUSCanadaMexicoSouth AmericaBrazilArgentinaColombiaMiddle East and AfricaUAESouth AfricaEgyptRest of World (ROW)

By Application Insights

The industrial segment is estimated to witness significant growth during the forecast period.The industrial segment is a primary consumer of electric motors, driven by the continuous pursuit of automation and heightened energy efficiency. Industrial motors are fundamental to a vast range of applications, including pumps, fans, and manufacturing machinery. The industrial sector consumes close to 40% of the world's energy, making motor efficiency a critical factor in managing operational costs. Regulatory mandates are compelling users to adopt higher-efficiency technologies, such as advanced ac induction motors, stimulating consistent market activity.The push toward smart manufacturing and the Industrial Internet of Things (IIOT) is further shaping this segment. Manufacturers are embedding sensors and IoT connectivity into their motor portfolios, enabling sophisticated energy management and predictive maintenance. This integration of industrial automation motors with real-time condition monitoring helps optimize operational ef

The global industrial motor market was valued at some **** billion U.S. dollars in 2021. It is projected that the market will grow in the coming years, reaching the size of over **** billion U.S. dollars in 2027.

The Electric Motor Market Report is Segmented by Motor Type (DC Motor, AC Motor, and Others), Output Power Rating (Fractional Horsepower, and Others), Voltage (Low Voltage, Medium Voltage, and High Voltage), Application (Industrial Machinery, HVAC and Refrigeration, and Others), End-Use Industry (Residential, Commercial, and Industrial), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).

The electric motor market is projected to grow from USD 150.9 billion in 2025 to USD 285.9 billion by 2035, at a CAGR of 6.6%.

Global Industrial Motors Sales market size 2025 was XX Million. Industrial Motors Sales Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The global electric motor sales market is booming, projected to hit $152.94B in 2025 with a 6.5% CAGR. Driven by EV adoption, industrial automation, and renewable energy, key players like ABB and Siemens are shaping this dynamic landscape. Explore market trends, regional analysis, and competitive strategies in our comprehensive report.

Global Industry Motors Sales Market is segmented by Application (Industrial Automation_ Home Appliances_ Automotive), Type (Induction Motors_ Synchronous Motors_ DC Motors), and Geography (North America_ LATAM_ West Europe_Central & Eastern Europe_ Northern Europe_ Southern Europe_ East Asia_ Southeast Asia_ South Asia_ Central Asia_ Oceania_ MEA)

The Electric Motor Sales Market size was valued at USD 197.78 billion in 2023 and is projected to reach USD 326.00 billion by 2032, exhibiting a CAGR of 7.4 % during the forecasts period. Recent developments include: In July 2023, General Electric Vernova’ Solar & Storage Solutions partnered with Fortune Electric to develop Battery Energy Storage Solutions (BESS) in Taiwan. The purpose is to use electric motors in the storage system to keep a control on the energy flow, manage charging and discharging of batteries, and ensure smooth integration of the stored energy. , In May 2023, ABB Limited announced the acquisition of Siemens low voltage NEMA motor business. This acquisition will enable ABB to strengthen its position as NEMA motor manufacturer, and provide its offering in the NEMA motor sector. , In August 2022, Johnson Electric Holdings Limited launched a steering wheel adjuster motor. It is an electric motor that enables drivers to get access to a comfortable driving posture. , In August 2022, Siemens collaborated with MAHLE to develop an inductive charging system for electric vehicles that includes electric motor components. This collaboration also included the implementation of standardized efforts for ensuring interoperability between the charging infrastructure, and electric vehicles. , In May 2022, Allied Motion Technologies Inc. acquired ThinGap for expanding its motion capabilities, and providing integrated motion solutions. The acquisition of ThinGap’s motor resulted in the enhancement of product offerings in the market of electric motor. .

Market Overview:

The global low-voltage electric motor market is projected to grow from USD XX million in 2022 to USD XX million by 2030, at a CAGR of XX%. Some of the key factors that are projected to drive the growth of this market include the increasing demand for energy-efficient motors, rising awareness about energy conservation, and growing industrialization. The global low-voltage electric motor market can be segmented on the basis of type, application, and region.

Product Definition:

A low-voltage electric motor is an electric motor that operates on a voltage of 24 volts or less. These motors are typically used for small, low-power applications such as electric bicycles, electric scooters, and home appliances. Low-voltage electric motors are more efficient than higher-voltage motors, but they typically have lower power output. This makes them ideal for low-power applications that don't require a lot of torque.

Synchronous Motors:

Synchronous Motors are low-voltage electric motors that use alternating current (AC) to generate power. They have permanent magnets embedded in the rotor, which rotate in sync with the stator, allowing them to maintain a constant speed. Synchronous motors have a wide range of applications, including industrial machinery, pumps, compressors, fans, and generators.

Induction Motors:

Induction motors are a type of electric motor that operates on the principle of electromagnetic induction. They have no physical contact with the rotating object, instead, they rely on magnetic fields for power transmission. The first commercial example was built by French scientist Henri Laborit in 1882, which he used to power an automated machine tool; this design has since been improved upon and used across several applications ranging from toys to automobiles and even spacecraft.

Application Insights:

The machine tool segment is projected to witness the highest growth at a CAGR of XX% over the forecast period owing to increasing demand for industrial machinery in emerging economies including China, India, and Brazil. The medical equipment application segment accounted for over 15% of the global market share in 2014 and is projected to grow significantly over the next eight years.

Regional Analysis:

Asia Pacific is projected to be the fastest-growing regional market with a CAGR of XX% from 2022 to 2030. The growth can be attributed to increasing industrialization and rapid urbanization in the region, which has led to an increase in construction activities as well as demand for electric vehicles and wind turbines. Furthermore, rising disposable income levels are anticipated to fuel product demand further over the forecast period.

Growth Factors:

• Increasing demand from the automotive sector: The global Low Voltage Electric Motor market is expected to grow at a CAGR of 6.5% during the forecast period. The increasing demand for electric vehicles is one of the major factors driving the growth of this market.
• Growing demand for energy-efficient motors: With rising concerns over energy conservation, there is an increasing demand for energy-efficient motors across various industries. This is projected to drive the growth of the Low Voltage Electric Motor market in the coming years.
• Rising investments in industrial automation: Industrial automation has emerged as one of the key trends across various industries in recent years and this is expected to drive investments in low-voltage electric motors over the next few years as well, thereby propelling market growth further.

Report Scope

Global Precision Electric Motors Sales Market is segmented by Application (Industrial Automation_ Robotics_ Machine Tools_ Medical Devices_ Aerospace), Type (Servo Motors_ Stepper Motors_ AC Motors_ DC Motors_ BLDC Motors), and Geography (North America_ LATAM_ West Europe_Central & Eastern Europe_ Northern Europe_ Southern Europe_ East Asia_ Southeast Asia_ South Asia_ Central Asia_ Oceania_ MEA)

Electric Motor Sales Market size was estimated at USD 124.87 Billion in 2024 and is projected to reach USD 261.12 Billion by 2031, growing at a CAGR of 9.66% from 2024 to 2031.A number of reasons are driving the Electric Motor Sales Market, including rising demand for energy-efficient and environmentally friendly propulsion systems across a wide range of industries. With a global push for sustainability and lower carbon emissions, electric motors have emerged as a crucial technology driving the shift to electrification in transportation, industrial automation, and renewable energy. The strict regulatory frameworks mandating emission reductions and fuel efficiency standards encourage the use of electric motors as viable alternatives to traditional combustion engines. Furthermore, advances in electric motor technology, such as the development of high-performance rare-earth magnets, improved power electronics, and energy storage solutions, improve electric motor efficiency, reliability, and power density, expanding their applicability across a wide range of applications.

The Electric Motor Sales market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

Discover Market Research Intellect's Electric Motors For Electric Vehicles Market Report, worth USD 23.5 billion in 2024 and projected to hit USD 62.1 billion by 2033, registering a CAGR of 11.5% between 2026 and 2033.Gain in-depth knowledge of emerging trends, growth drivers, and leading companies.

Introduction

Electric vehicles (EVs) have seen a remarkable evolution from their early innovations to their current status as a pivotal element in the transportation industry. This document explores the rich history of electric vehicles, focusing on their development through various periods, and provides an overview of the different types of EVs available today. Through data visualizations and analysis, we highlight global EV trends, the growth of EV sales, and the distribution of various powertrain types across regions.

The electric vehicle landscape has evolved significantly, influenced by technological advancements, environmental concerns, and shifting market dynamics. The modern resurgence of EVs reflects a growing recognition of their potential to reshape the transportation industry and drive towards a more sustainable future.

History of Electric Vehicles

The history of electric vehicles is marked by a series of innovations, declines, and revivals, spanning over a century. This section delves into the early history, the impact of the oil crises, and notable electric vehicles like the Sinclair C5.

Early History of Electric Vehicles

Late 19th Century - Early 20th Century

Origins:
Electric vehicles have their roots in the early 19th century. The first practical electric vehicle was built by Scottish inventor Robert Anderson between 1832 and 1839. This early electric carriage was powered by non-rechargeable batteries and laid the groundwork for future developments.

Early 20th Century Market Share:
By the early 1900s, electric vehicles, petrol-powered cars, and steam cars each held significant shares of the market. At this time, electric vehicles were favored for their quiet operation and ease of use compared to the noisy, cumbersome petrol cars.

In 1900, electric vehicles held about one-third of the automotive market. They were popular among urban drivers due to their reliability and the convenience of not requiring manual hand-cranking, as was needed for petrol vehicles.

Decline:
The decline of electric vehicles began with the rise of petrol-powered cars, facilitated by innovations such as the electric starter and mass production techniques introduced by Henry Ford. By the 1920s, the market for electric vehicles had diminished significantly as internal combustion engines became more widespread and infrastructure for petrol vehicles expanded.

The 1970s Oil Crisis and the Revival of Interest in EVs

Oil Crisis

The oil crises of the 1970s, including the 1973 Arab Oil Embargo and the 1979 energy crisis, renewed interest in alternative energy sources like electric vehicles. The sharp increase in oil prices and concerns about energy security highlighted the need for less oil-dependent transportation solutions.

During this period, there was a resurgence in the development of electric vehicles as a means to reduce reliance on fossil fuels and mitigate the impact of future oil shortages.

Early 1970s Efforts

Various automotive manufacturers and research institutions explored electric vehicles during this time. Despite the enthusiasm, many early attempts were constrained by the technology of the era, including limitations in battery performance and range.

Notable Vehicles and Innovations

Sinclair C5 (1985)

Overview:
The Sinclair C5, designed by Sir Clive Sinclair, was an electric vehicle launched in 1985. It was a small, three-wheeled vehicle intended for short trips and urban commuting. The C5 had a top speed of about 15 miles per hour and a range of 20-30 miles on a single charge.

Reception:
Despite its innovative concept, the Sinclair C5 faced criticism for its limited speed, range, and lack of weather protection. It was also deemed unsafe by some due to its low profile and exposure to road hazards. The vehicle was not commercially successful and was discontinued after a brief production period. Nonetheless, it remains an important historical reference in the development of electric vehicles.

Other Notable Early EVs

General Motors EV1 (1996-1999):
The GM EV1 was one of the first mass-produced electric cars of the modern era, introduced in the late 1990s. It was notable for its advanced technology and was designed specifically as an electric vehicle.

The EV1 was praised for its performance and efficiency but faced limitations due to high costs and lack of support infrastructure. GM eventually decided to discontinue the EV1 and retrieve most of the vehicles from customers.

Modern Resurgence

21st Century

The early 2000s marked a resurgence in electric vehicles, driven by advances in battery technology, increasing environmental concerns, and government incentives. Tesla Motors, founded in 2003, played a significant role in popularizing electric vehicles with models like the Tesla Roadster and Model S. Othe...

Snapshot img

Electric Vehicle Motor Market Size 2024-2028

The electric vehicle (EV) motor market size is forecast to increase by USD 80.27 billion at a CAGR of 50.22% between 2023 and 2028.

The market is experiencing significant growth, driven by increasing sales of electric vehicles due to their fuel efficiency and environmental benefits. Rules and regulations, such as emissions norms, are pushing the adoption of EVs in urbanized areas. Subsidy programs and tax benefits offered by governments in various countries are further boosting the market. The market is segmented based on motor type, including AC induction motor and DC permanent magnet motor, and vehicle type, including passenger cars and commercial vehicles. Challenges include the lack of operational charging infrastructure in emerging markets and the dependence on rare earth metals for battery production.
Additionally, the need for battery recycling and the development of cost-effective and efficient battery technologies are key trends in the market. The charging infrastructure and battery recycling are crucial for the widespread adoption of EVs and the growth of the market.

Electric Vehicle Motor Market Analysis

Request Free Sample

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Power Rating

  MPR
  HPR
  LPR


Type

  AC motor
  DC motor


Geography

  APAC

    China


  Europe

    Germany
    France
    Norway


  North America

    US


  South America



  Middle East and Africa

By Power Rating Insights

The MPR segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to rules and regulations promoting the adoption of fuel-efficient vehicles and subsidy programs encouraging the shift towards EVs. Mid-power rating motors, such as MPR motors, remain popular choices for full or plug-in hybrid powertrains and low-range pure EVs, as demonstrated by their use in vehicles like the Nissan Leaf, Hyundai Sonata, Hyundai Ioniq Electric, Toyota Prius, and Chevrolet Volt. However, the market share of mid-power rating motors is expected to decline as demand for All Wheel Drive EVs (AWD EVs) increases. This trend is attributed to the growing preference for dual hybrid powertrains, which utilize low-power rating motors as secondary motors.

Additionally, concerns regarding the sourcing and recycling of rare earth metals used in EV motors and the development of charging infrastructure are key factors influencing market dynamics.

Get a glance at the market share of various segments Request Free Sample

The MPR segment accounted for USD 1.41 billion in 2018 and showed a gradual increase during the forecast period.

Will APAC become the largest contributor to the Electric Vehicle (Ev) Motor Market?

APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions Request Free Sample

The market in the Asia Pacific (APAC) region is experiencing significant growth due to the increasing popularity of EVs in countries such as China, Japan, India, Singapore, Thailand, and South Korea. Rules and regulations promoting the adoption of fuel-efficient vehicles, subsidy programs, and tax benefits for EV owners are key drivers for this market. China and Japan are currently leading the market, with China accounting for a substantial share due to its large EV sales volume. South Korea, India, and Hong Kong are also expected to be significant contributors to the market's growth during the forecast period. The increasing production and sales of EVs will result in higher demand for EV related parts, including batteries, power inverters, and motors.

Moreover, the development of charging infrastructure and initiatives for battery recycling and the use of rare earth metals in EV motors will further boost market growth.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Dynamics

The market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) by automakers as an alternative to traditional internal combustion engine vehicles. The shift towards clean mobility is driven by stringent emission regulations and fuel economy norms. The propulsion systems of EVs primarily use AC synchronous motors, which offer high torque and efficiency. Ba

Global Industrial Smart Motors Sales Market is segmented by Application (Industrial Automation_ Robotics_ HVAC Systems_ Pumps_ Compressors), Type (Induction Motors_ Synchronous Motors_ Permanent Magnet Synchronous Motors_ Servo Motors_ Stepper Motors), and Geography (North America_ LATAM_ West Europe_Central & Eastern Europe_ Northern Europe_ Southern Europe_ East Asia_ Southeast Asia_ South Asia_ Central Asia_ Oceania_ MEA)

Your go-to Electric Motor Sales Market intelligence resource—forecasted trends, opportunities, and industry share.

The Asia Pacific AC Electric Motor Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030). The China market dominated the Asia Pacific AC Electric Motor Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market valu

Snapshot img

AC Electric Motor Sales in Oil and Gas Market Size 2024-2028

The Global AC Electric Motor Sales in Oil and Gas Market size is forecast to grow by USD 3.58 billion, at a CAGR of 5.72% between 2023 and 2028. The global oil and gas industry is experiencing a surge in demand due to increasing energy consumption and economic growth. This trend is driving a rise in Exploration and Production (E&P) activities, particularly in emerging markets. In response, there is a growing investment in refineries to meet the demand for processed petroleum products. The expansion of refining capacity is a critical component of the industry's growth strategy, ensuring a steady supply of fuel for transportation and energy for industries. Additionally, advancements in technology are improving efficiency and reducing costs, making refining a profitable venture for companies. Overall, the oil and gas industry's future looks bright, with continued growth expected in the coming years.

Market forecasting

To learn more about this report, Request Free Sample

Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Market Dynamics

In the market, induction electric motors and synchronous electric motors are pivotal. These motors are integral to extraction and production facilities, pumping stations, and various exploration and production projects. Their high starting torque and reliability under harsh operating conditions, including extreme temperatures and corrosive atmospheres make them indispensable. Advancements in motor technology and energy efficiency improvements are crucial for reducing carbon emissions and adapting to economic uncertainties and fluctuating oil prices. Variable frequency drives enhance energy efficiency by optimizing voltage and power systems. Moreover, alternative energy storage, including batteries, supports this shift towards greener solutions. AC Electric Motors must handle bulk usage while maintaining compatibility with DC motors and other components like cranes, machine tools, and auxiliary generators. Emphasizing electromagnetic induction, these motors convert alternating current to mechanical power, driven by primary rotating magnetic fields in the stator and secondary rotating magnetic fields in the rotor.

Key Market Driver

Increasing demand for oil and gas is notably driving the market growth. Rapid urbanization in developing nations is accompanied by a significant rise in energy demand. As a result, more liquid fuels and natural gas are being consumed. Oil and natural gas are in high demand due to the rising global demand for electricity and fuel. Global liquid fuel consumption increased from 99.97 mbpd in 2018 to 100.75 mbpd in 2019, according to the US EIA. Additionally, it is anticipated that by 2021, the world will consume 102.85 mbpd of liquid fuel.

Further, the demand for E&P machines, equipment, and components is growing at the same time as the demand for oil and gas. Hence, the demand for AC electric motors, which have a variety of uses in both the upstream and downstream segments of the oil and gas industry, is also rising. Therefore, the rise in the global demand for oil and gas is driving the growth of the market during the forecast period.

Significant Market Trends

The increasing adoption of modular mini refineries is an emerging trend in the market. For producers of diesel and other petrochemicals in remote areas, modular mini refineries are a flexible and affordable supply option. The simplicity, speed, and relatively low capital cost of modular mini refineries are their main advantages. The best places to use modular mini-refineries are in remote areas and developing nations where there is a high demand for diesel, gasoline, and fuel oil.

Furthermore, refineries that are modular require less land than conventional refineries because they are smaller. The adoption of these refineries is rising because they provide process flexibility and aid in increasing refinery capacity. For instance, the Nigerian National Petroleum Company Limited (NNPC) reports that in March 2023, oil production in Nigeria averaged 1.59 million barrels per day. As the adoption of modular mini refineries in remote areas increases, the demand for modular refinery components such as AC electric motors also increases. Therefore, these factors will drive the growth of the market during the forecast period.

Major Market Challenge

Environmental impacts of oil and gas activities are major challenges impeding the market growth. In addition to being used as fuel for automobiles and buildings, oil and gas are also used in the