The global electric motors market is projected to reach USD 37.0 billion by 2035, up from USD 21.3 billion in 2025, growing at a CAGR of 5.7%. This steady yet accelerating growth highlights the rising adoption of electric vehicles (EVs), industrial automation, renewable energy integration, and demand for energy-efficient solutions worldwide.
The first half of the forecast period 2025–2030 shows stable expansion at 4.8% CAGR, while the latter years 2030–2035 accelerate to 6.8%, underscoring the sector’s strengthening momentum toward electrification and clean energy solutions.
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Report Coverage & Deliverables
This report offers an in-depth analysis of the electric motors market from 2025 to 2035, with insights into market size, growth trends, opportunities, challenges, and competitive strategies. Coverage includes:
- Market size estimates and forecasts in USD billions.
- Analysis by motor type (traction motors, small DC motors for automotive, railways, and aerospace).
- Market breakdown by sales channels (OEMs and aftermarket).
- Regional and country-level analysis across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
- Profiles of leading companies, including ABB, Bosch, Siemens AG, General Electric, Denso, YASA, and others.
- Evaluation of key market drivers, restraints, and opportunities.
Key Factors Shaping Market Dynamics
- Electrification Across Industries: Growing EV adoption, renewable energy integration, and industrial automation are fueling demand for efficient motor systems.
- Technological Advancements: Developments in brushless DC motors, permanent magnet designs, and IoT-enabled smart motors enhance performance and efficiency.
- Government Regulations: Energy efficiency mandates and carbon reduction targets accelerate the adoption of electric motors in transport, HVAC, and industrial applications.
- Challenges: High production costs, raw material price volatility (rare earths, copper), and supply chain disruptions remain critical barriers.
- Opportunities: Expansion of EV platforms, smart factory automation, and renewable energy projects create significant growth potential.
Key Takeaways
- Market Value: USD 21.3 billion (2025) → USD 37.0 billion (2035).
- Forecast CAGR: 5.7% (2025–2035).
- Leading Segment: Traction motors projected to hold 28% market share in 2025, driven by EV adoption.
- Sales Channel Outlook: OEMs to dominate with 67% market share by 2025, leveraging integrated production and advanced R&D.
- Key Growth Drivers: Electrification in transportation, renewable energy deployment, industrial robotics, and HVAC demand.
- Top Players: ABB, Siemens AG, Bosch, General Electric, Emerson Electric, Denso Corporation, WEG, YASA, Maxon Motor, among others.
Regional Analysis
- Asia-Pacific: Dominates market growth, led by China (CAGR 7.7%) and India (CAGR 7.1%). Rapid EV adoption, government incentives, and strong manufacturing bases are key drivers.
- Europe: Countries like France (6.0%) and UK (5.4%) focus on net-zero emissions, renewable energy integration, and electrification of public transport.
- North America: The United States (4.8% CAGR) sees steady growth with rising EV penetration and industrial automation.
- Latin America & MEA: Growth supported by industrial modernization and renewable energy adoption, though at a slower pace compared to Asia-Pacific.
Key Segments of the Market Report
- By Motor Type
- Traction Motors: Largest segment (28% in 2025), driven by EV propulsion needs and advancements in power-dense designs.
- Small DC Motors: Widely used in automotive, aerospace, and consumer applications.
- By Sales Channel
- OEMs: Expected to command 67% share by 2025, supported by integration in EVs, industrial machinery, and aerospace.
- Aftermarket: Focused on replacements and retrofits, particularly in industrial machinery and HVAC systems.
- By End-Use Applications
- Automotive (EVs, hybrid vehicles).
- Industrial machinery & robotics.
- HVAC systems.
- Renewable energy systems (wind turbines, solar storage).
- Consumer appliances & medical devices.
Competitive Landscape
The electric motors market is characterized by intense competition and rapid innovation. Key players are focusing on high-efficiency designs, IoT-enabled smart motors, and integration with EV platforms:
- ABB: Expanded portfolio with the acquisition of Aurora Motors (Nov 2024).
- Bosch: Launched new high-performance motors for e-bikes and marine applications (2024).
- Denso: Announced expansion of motor production facilities in Japan (2025–2028).
- Siemens AG & General Electric: Investing heavily in industrial automation and renewable energy motors.
- YASA Limited & Denso: Leading innovation in EV-specific high-performance motors.
Barriers to entry include high R&D investment, strict regulatory compliance, and advanced manufacturing requirements. Competitive differentiation hinges on energy efficiency, cost optimization, and smart motor technology integration.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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