Electric Motor Market Size To Reach $405.67 Billion By 2033

Electric Motor Market Growth & Trends

The global electric motor market size is expected to reach USD 405.67 billion by 2033, registering a CAGR of 8.5% from 2026 to 2033, according to a new report by Grand View Research, Inc. Rapid technological advancements have been playing an imperative role in the growth of the market. Further, improved insulation and operational efficiency have significantly improved the electro-mechanical machines in terms of safety and functionalities, leading to increased demand across multiple industries. Electric motors are used in multiple applications across industry verticals such as home appliances, industrial machinery, and vehicles. The market is expected to witness high growth from Heating, Ventilation, and Cooling (HVAC) applications as they are an inseparable component of HVAC equipment.

Rising fuel prices across the globe are impelling people to shift to non-conventional fuel alternatives. As a result, electric vehicles are manufactured with a view of reducing operational costs and carbon footprint. The upsurge in the production of electric vehicles is expected to positively impact the demand for electric motors as they are used in various applications ranging from performance components to comfort components of the vehicle.

The industry is characterized by regulatory policies and government initiatives that promote energy efficiency in machines and equipment. High-efficiency and output, low power consumption, increased operational life, and low maintenance costs are essential requirements for the electro-mechanical machines. Notably, technological innovations have introduced improved design, components, and motor specifications resulting in fulfillment of end-user requirements. Innovations and evolving policy frameworks are crucial for industry development and will play a key role in fueling the demand for the products over the forecast period.

Asia Pacific region held the largest revenue share in the electric motor market in 2023 and is projected to witness the fastest CAGR from 2024 to 2030. The growth can be attributed to increasing industrialization investments in countries such as China, India, South Korea, and Australia. Further, the scope for market growth in the region is expected to increase significantly over the coming years, owing to the evolving agriculture sector through efficient irrigation practices and technology transfer.

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Electric Motor Market Report Highlights

• The AC motors segment accounted for the largest market share of over 71% in 2025, driven by its widespread use in industrial, commercial, and infrastructure applications, particularly in industrial automation motors.

• The industrial machinery segment accounted for the largest market share of 40.88% in 2025, owing to increasing automation across manufacturing, mining, oil & gas, and processing industries.

• The fractional HP output segment accounted for the largest market share of 52.8% in 2025, owing to its widespread use in consumer appliances, HVAC systems, and commercial equipment.

• Asia-Pacific electric motor industry dominated the market with a share of 47.33% in 2025, driven by rapid industrialization, large-scale infrastructure development, and accelerating electrification.

Electric Motor Market Segmentation

Grand View Research has segmented the global electric motor market on the basis of motor, power output, application, and region:

Electric Motor Outlook (Revenue, USD Billion, 2021 - 2033)

• AC Motor

  • Synchronous AC Motor

  • Induction AC Motor

• DC Motor

  • Brushed DC Motor

  • Brushless DC Motor

• Hermetic Motor

Electric Motor Power Output Outlook (Revenue, USD Billion, 2021 - 2033)

• Integral HP Output

• Fractional HP Output

Electric Motor Application Outlook (Revenue, USD Billion, 2021 - 2033)

• Industrial Machinery

• Motor Vehicles

• HVAC Equipment

• Aerospace & Transportation

• Household Appliances

• Others

Electric Motor Regional Outlook (Revenue, USD Billion, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players of Electric Motor Market

• ABB

• Allied Motion, Inc.

• AMETEK, Inc.

• Johnson Electric Holdings Limited

• Nidec Motor Corporation

• Franklin Electric

• Regal Rexnord Corporation

• Schneider Electric

• Siemens AG

• ORIENTAL MOTOR USA CORP.