How Big Is the Electric Motor Market

Q: How big is the electric motor market size?

The electric motor market is projected to reach approximately USD 218.4 billion by 2031.

Q: What is the CAGR of the electric motor market during the forecast period?

The electric motor market is expected to grow at a CAGR of 6.3% during the forecast period.

Q: Which region is the largest consumer of electric motors?

Asia-Pacific leads the market in terms of production and consumption, driven by industrial growth and automotive demand.

Q: What challenges affect electric motor market growth?

The challenges are fluctuating raw material prices, high initial investment for high-efficiency motors, and integration complexity.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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How Big Is the Electric Motor Market | Trends 2031

Code: MTA5797

Publication Date: Jul 2025

How big is the electric motor market?

According to 绿帽社 internal database and industry insights, the Global Electric Motor Market was valued at approximately USD 142.6 billion in 2024 and is projected to reach USD 218.4 billion by 2031, growing at a CAGR of 6.3% during the forecast period.

This growth is driven by the widespread electrification across industries, rising demand for energy-efficient motors, and expansion in sectors such as electric vehicles, HVAC, and industrial automation. The shift to Industry 4.0 and regulatory standards that promote energy conservation are also driving market expansion.

Key Growth Factors of the Electric Motor Market

Rapid sector-wide adoption of robotics and industrial automation
Growing use of e-mobility systems and electric vehicles
Laws encouraging the use of energy-efficient motor systems
Increasing the infrastructure for renewable energy and HVAC
Higher use of smart building applications and household appliances
Traditional motors are increasingly being replaced by high-efficiency models.

Electric Motor Market Trends

The electric motor market is seeing an increase in demand for high-efficiency motors, particularly IE3 and IE4 class motors. Permanent magnet synchronous motors (PMSM) are gaining preference due to higher torque density and efficiency. Asia-Pacific remains a production and consumption hub, while Europe and North America emphasize efficiency and electrification mandates. Integration with AI-driven control systems in industrial and smart devices is another rising trend.

Emerging Developments in the Electric Motor Market

Companies are investing in compact, lightweight motor designs optimized for EVs and industrial equipment. Innovations in coil winding, motor cooling, and magnetic materials are reducing weight and energy consumption. There is a growing shift toward brushless motors and sensorless control technologies. Manufacturers are increasingly adopting sustainable production processes and recyclable motor components.