Electric Motors Market Size, Share, Forecast, & Trends Analysis by Type, Power Output (Fractional HP Motors, Integral HP Motors, Large HP Motors ), End User

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Electric Motors Market by Type (AC Motors and DC Motors), Power Output (Fractional HP Motors (Upto 1 HP), Integral HP Motors (1 HP to 400 HP), Large HP Motors (More than 400 HP)), End User (Industrial Commercial), and Geography-Global Forecast to 2031.

The research report titled 'Electric Motors Market by Type (AC Motors and DC Motors), Power Output (Fractional HP Motors (Upto 1 HP), Integral HP Motors (1 HP to 400 HP), Large HP Motors (More than 400 HP)), End User (Industrial Commercial), and Geography-Global Forecast to 2031' provides an in-depth analysis of global electric motors market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The global electric motors market is projected to reach $254.1 billion by 2031, at a CAGR of 7.1% from 2024-2031.

The growth of the electric motors market is driven by the increase in demand for energy-efficient electric motors, growing demand for electric motors in manufacturing industries, increased sales of consumer electronics and appliances in developing countries, and increasing demand for HVAC systems among end users. However, the fluctuating prices of raw materials and the limited range of battery technology may restrain the growth of this market.

Furthermore, the advancements in motor technology and the progressive significance of electric motors in robotics & automation are expected to offer significant growth opportunities for players operating in the electric motors market. However, the shortage of components, supply chain issues, and high maintenance costs may hinder the growth of this market.

The global electric motors market is segmented into type (AC motors {synchronous motors, induction motors, universal motors, and other AC motors} and DC motors {brushed DC motors, brushless DC motors, stepper motors, and other DC motors}), power output (fractional horsepower motors, integral horsepower motors, and large horsepower motors), end user (industrial {conveyors and material handling, pumps and fans machine tools and robotics, HVAC systems, and other applications}, commercial, residential {consumer electronics, kitchen appliances, other applications}, transportation {automobiles, railways, marine, and other applications}, agriculture {irrigation equipment, agriculture machinery, livestock management, food processing and storage, and other applications}, and other end users). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the global electric motors market is segmented into AC motors and DC motors. The AC motors market is further sub-segmented into synchronous motors, induction motors, universal motors, and other AC motors. In 2024, the AC motors segment is expected to account for the larger share of over 66.0% of the global electric motors market. The growth of this segment is attributed to the increasing adoption of automation in industries such as manufacturing, automotive, and robotics, which has led to a higher demand for AC motors.

These motors are vital components in automated systems, powering conveyor belts, pumps, fans, and other machinery. The growing demand for heating, ventilation, and air conditioning (HVAC) systems in residential, commercial, and industrial buildings is driving the demand for AC motors. These motors are commonly used in HVAC applications due to their ability to provide precise control over airflow and temperature. Also, ongoing advancements in motor design, materials, and control systems have improved the efficiency, reliability, and performance of AC motors. These advancements include the development of higher-efficiency motor designs, improved insulation materials, and advanced control algorithms.

However, the DC motors segment is projected to register the highest CAGR of 9.0% during the forecast period. The DC motors segment is further sub-segmented into brushed DC motors, brushless DC motors, stepper motors, and other DC motors. These motors possess remarkable starting torque capability and exhibit excellent speed regulation. They find extensive application in industrial machinery, equipment, and electronic toys requiring variable speed control. With a heightened awareness of energy consumption among industries and consumers, the superior efficiency of brushless DC motors renders them an appealing alternative to conventional brushed DC motors. Furthermore, the rising demand for consumer electronics such as drones, power tools, and high-end appliances is propelling the market for compact DC motors.

In October 2024, Toshiba Electronic Devices & Storage Corporation (Japan) launched two 600V small intelligent power devices (IPDs) for brushless DC motor drive applications, such as air conditioners, air cleaners, and pumps. In April 2022, AMETEK Haydon Kerk Pittman (HKP), a business unit of AMETEK, announced a new size in its IDEA Motor series of brushless DC motors: 57mm. This EC057B joins the 42mm EC042B product and enhances an already popular line of motors with integrated, programmable drives. The IDEA Motor combines a precision brushless servo motor with an IDEA Drive controller to reduce design time, wiring needs, and overall cabinet space, which in turn leads to lower system costs. The programmable drive is specifically designed for real-time, embedded motion control and is well-suited for autonomous and precise single-axis motion.

Based on power output, the global electric motors market is segmented into fractional horsepower motors (Upto 1 HP), integral horsepower motors (1 HP to 400 HP), and large horsepower motors (More than 400 HP). In 2024, the fractional horsepower motors segment is expected to account for the largest share of over 85.0% of the global electric motors market. The growth of this segment is attributed to the rising automation in industrial settings. Most industrial processes rely on small motors for tasks like powering fans, pumps, and conveyor belts.

With the increase in automation across various industries, the need for integral horsepower motors is also on the rise. HVAC systems in residential, commercial, and industrial buildings rely on low-power motors to facilitate functions such as fan operation. The growing need for efficient climate control is anticipated to drive the market for 1HP motors. Although electric vehicles primarily employ higher-powered motors for propulsion, there remains a demand for 1HP motors to power auxiliary functions like windows, seats, and ventilation systems. These factors are poised to fuel the market's growth during the forecast period.

In August 2022, ABB (Switzerland) signed an agreement to purchase Siemens' low-voltage NEMA motor business. With manufacturing operations in Guadalajara, Mexico, this acquisition provides a well-rounded product portfolio, a longstanding North American customer base, and an experienced operations, sales, and management team.

Additionally, the fractional horsepower motors segment is projected to register the highest CAGR during the forecast period.

Based on end user, the global electric motors market is segmented into industrial, commercial, residential, transportation, agriculture, and other end users. The industrial segment is further sub-segmented into conveyors & material handling, pumps and fans, machine tools and robotics, HVAC systems, and other applications. In 2024, the industrial segment is expected to account for the largest share of over 32.0% of the global electric motors market.

Electric motors provide precise control over speed and torque, making them well-suited for various applications and automated processes. This level of control enables the optimization of industrial tasks and enhances product quality. Compared to internal combustion engines, electric motors typically have fewer moving parts, resulting in higher reliability and reduced maintenance downtime. They are widely used in industrial equipment due to their suitability for operation in heavy industrial environments. Additionally, electric motors offer advantages such as high starting torque and stability in the face of electric current fluctuations. Various companies are launching initiatives to further develop the market for electric motors. For instance, in October 2022, Robert Bosch GmbH (Germany) announced the launch of production of electric motors at its Charleston, S.C. manufacturing facility. In July 2022, WEG S.A. (Brazil) launched W12, a light and versatile motor for industrial applications. The new W12 electric motor from WEG is designed for use in higher-performance industrial applications, offering versatility and efficiency.

Additionally, the industrial segment is projected to register the highest CAGR during the forecast period.

Based on geography, the electric motors market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 47.0% of the global electric motors market. Asia-Pacific's significant market share can be attributed to advancements in the agriculture sector and increased investments in industrialization, particularly in countries like China, India, South Korea, and Australia. Furthermore, the growing production and sales of electric vehicles (EVs), particularly in China and Japan, and the presence of well-established OEMs such as Honda Motor Co., Ltd. (Japan), Hyundai Motor Company (South Korea), Toyota Industries Corporation (Japan), and Nissan Motor Corporation (Japan) further enhance market growth in this region.

Moreover, key market players are launching various growth strategies, contributing to the market's growth. For instance, in July 2024, General Electric Vernova' Solar & Storage Solutions (U.S.) partnered with Fortune Electric (Taiwan) to develop Battery Energy Storage Solutions (BESS) in Taiwan. Additionally, in August 2022, Sona BLW Precision Forgings Ltd (India) crossed the milestone of producing 100,000 EV traction motors in its Chennai Plant in India. As more consumers and businesses adopt EVs, the EV traction motors market is expected to grow significantly in the coming years.

Additionally, the market in Asia-Pacific is projected to register the highest CAGR of 8.5% during the forecast period.

The key players operating in the global electric motors market include ABB Ltd. (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), Rockwell Automation Inc. (U.S.), Allied Motion Technologies, Inc. (U.S.), AMETEK Inc. (U.S.), Johnson Electric Holdings Limited (Hong Kong), Nidec Motor Corporation (Japan), Franklin Electric Co., Inc. (U.S.), Regal Rexnord Corporation (U.S.), Arc Systems Inc. (U.S.), Denso Corporation (Japan), Emerson Electric Co. (U.S.), Nidec Corporation (Japan), and Oriental Motor USA Corp (Germany).

Key Questions Answered in the Report:

What are the high-growth market segments in terms of type, power output, and end user?
What was the historical market size for the global electric motors market?
What are the market forecasts and estimates for 2024-2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the global electric motors market?
Who are the major players in the global electric motors market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the global electric motors market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the emerging players in the global electric motors market, and how do they compete with other players?

Scope of the Report:

Electric Motors Market Assessment-by Type

AC Motors
- Synchronous Motors
- Induction Motors
- Universal Motors
- Other AC Motors
DC Motors
- Brushed DC Motors
- Brushless DC Motors
- Stepper Motors
- Other DC Motors

Electric Motors Market Assessment-by Power Output

Fractional Horsepower Motors (Upto 1 HP)
Integral Horsepower Motors (1 HP to 400 HP)
Large Horsepower Motors (More than 400 HP)

Electric Motors Market Assessment-by End User

Industrial
- Conveyors and Material Handling
- Pumps and Fans
- Machine Tools and Robotics
- HVAC Systems
- Other Industrial Applications
Commercial
Residential
- Consumer Electronics
- Kitchen Appliances
- Other Residential Applications
Transportation
- Automobiles
- Railways
- Marine
- Other Transportation Applications
Agriculture
- Irrigation Equipment
- Agriculture Machinery
- Livestock Management
- Food Processing and Storage
- Other Agricultural Applications
Other End Users

Electric Motors Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Switzerland
- Sweden
- Denmark
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia & New Zealand
- Indonesia
- Thailand
- Vietnam
- Malaysia
- Singapore
- Rest of Asia- Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- UAE
- Israel
- Rest of Middle East & Africa

Product Code: MRSE - 1041132

1. Introduction

1.1 Market Definition & Scope
1.2 Currency & Limitations
- 1.2.1 Currency
- 1.2.2 Limitations

2. Research Methodology

2.1 Research Approach
2.2 Data Collection & Validation Process
- 2.2.1 Secondary Research
- 2.2.2 Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3 Market Sizing and Forecasting
- 2.3.1 Market Size Estimation Approach
- 2.3.2 Growth Forecast Approach
2.4 Assumptions for the Study

3. Executive Summary

3.1 Market Overview
3.2 Market Analysis, by Type
3.3 Market Analysis, by Power Output
3.4 Market Analysis, by End User
3.5 Market Analysis, by Geography
3.6 Competitive Analysis

4. Market Insights

4.1 Overview
4.2 Factors Affecting Market Growth
- 4.2.1 Drivers
  - 4.2.1.1 Increase in Demand for Energy-efficient Electric Motors
  - 4.2.1.2 Growing Demand for Electric Motors in Manufacturing Industries
  - 4.2.1.3 Increased Sales of Consumer Electronics and Appliances in Developing Countries
  - 4.2.1.4 Increasing demand for HVAC systems among End Users
- 4.2.2 Restraints
  - 4.2.2.1 Fluctuating prices of raw materials
  - 4.2.2.2 Limited Range of Battery Technology
- 4.2.3 Opportunities
  - 4.2.3.1 Advancements in Motor Technology
  - 4.2.3.2 Progressive Significance of Electric Motors in Robotics & Automation
- 4.2.4 Challenges
  - 4.2.4.1 Shortage of Components and Supply Chain Issues
  - 4.2.4.2 High Maintenance Cost
4.3 Case Studies
4.4 Value Chain Analysis
4.5 Porter's Five Forces Analysis

5. Global Electric Motors Market, by Type

5.1 Overview
5.2 AC Motors
- 5.2.1 Synchronous Motors
- 5.2.2 Induction Motors
- 5.2.3 Universal Motors
- 5.2.4 Other AC Motors
5.3 DC Motors
- 5.3.1 Brushed DC Motors
- 5.3.2 Brushless DC Motors
- 5.3.3 Stepper Motors
- 5.3.4 Other DC Motors

6. Global Electric Motors Market, by Power Output

6.1 Overview
6.2 Fractional Horsepower Motors (Upto 1 HP)
6.3 Integral Horsepower Motors (1 HP to 400 HP)
6.4 Large Horsepower Motors (More than 400 HP)

7. Global Electric Motors Market, by End User

7.1 Overview
7.2 Industrial
- 7.2.1 Conveyors and Material Handling
- 7.2.2 Pumps and Fans
- 7.2.3 Machine Tools and Robotics
- 7.2.4 HVAC Systems
- 7.2.5 Other Applications
7.3 Commercial
7.4 Residential
- 7.4.1 Consumer Electronics
- 7.4.2 Kitchen Appliances
- 7.4.3 Other Applications
7.5 Transportation
- 7.5.1 Automobiles
- 7.5.2 Railways
- 7.5.3 Marine
- 7.5.4 Other Applications
7.6 Agriculture
- 7.6.1 Irrigation Equipment
- 7.6.2 Agriculture Machinery
- 7.6.3 Livestock Management
- 7.6.4 Food Processing and Storage
- 7.6.5 Other Applications
7.7 Other End Users

8. Electric Motors Market, by Geography

8.1 North America
- 8.1.1 U.S.
- 8.1.2 Canada
8.2 Europe
- 8.2.1 Germany
- 8.2.2 U.K.
- 8.2.3 France
- 8.2.4 Italy
- 8.2.5 Spain
- 8.2.6 Netherlands
- 8.2.7 Switzerland
- 8.2.8 Sweden
- 8.2.9 Denmark
- 8.2.10 Rest of Europe
8.3 Asia-Pacific
- 8.3.1 China
- 8.3.2 Japan
- 8.3.3 India
- 8.3.4 South Korea
- 8.3.5 Australia & New Zealand
- 8.3.6 Indonesia
- 8.3.7 Thailand
- 8.3.8 Vietnam
- 8.3.9 Malaysia
- 8.3.10 Singapore
- 8.3.11 Rest of Asia- Pacific
8.4 Latin America
- 8.4.1 Mexico
- 8.4.2 Brazil
- 8.4.3 Rest of Latin America
8.5 Middle East & Africa
- 8.5.1 UAE
- 8.5.2 Israel
- 8.5.3 Rest of Middle East & Africa

9. Global Electric Motors Market - Competitive Landscape

9.1 Overview
9.2 Key Growth Strategies
- 9.2.1 Market Differentiators
- 9.2.2 Synergy Analysis: Major Deals & Strategic Alliances
9.3 Competitive Dashboard
- 9.3.1 Industry Leader
- 9.3.2 Market Differentiators
- 9.3.3 Vanguards
- 9.3.4 Contemporary Stalwarts
9.4 Vendor Market Positioning
9.5 Market Share Analysis

10. Company Profiles

10.1 ABB Ltd.
10.2 Schneider Electric SE
10.3 Siemens AG
10.4 Rockwell Automation Inc.
10.5 Allied Motion Technologies, Inc.
10.6 AMETEK Inc.
10.7 Johnson Electric Holdings Limited
10.8 Nidec Motor Corporation
10.9 Franklin Electric Co., Inc.
10.10 Regal Rexnord Corporation
10.11 Arc Systems Inc.
10.12 Denso Corporation
10.13 Emerson Electric Co.
10.14 Nidec Corporation
10.15 Oriental Motor USA Corp

(Note: SWOT Analysis of the Top 5 Companies Will Be Provided

11. Appendix

11.1 Available Customization
11.2 Related Reports