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Electric Motor Sales Market Size Exceed US$ 240.5 billion by 2030

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The global electric motor sales market size is expected to be worth around US$ 240.5 billion by 2030, according to a new report by Vision Research Reports.

The global electric motor sales market size was valued at US$ 142.10 billion in 2020 and is anticipated to grow at a CAGR of 6.8% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 240.5 Bn by 2030
Growth Rate CAGR of 6.8% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Motor Type, Power, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Baldor Electric Company, Inc., Ametek Inc., Franklin Electric Co., Inc., Asmo Co., Ltd

Growth Factors

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.

Key Players

  • Baldor Electric Company, Inc.
  • Ametek Inc.
  • Franklin Electric Co., Inc.
  • Asmo Co., Ltd.

Market Segmentation

  • By Motor Type Outlook 
    • AC Motor
      • Synchronous AC Motor
      • Induction AC Motor
    • DC Motor
      • Brushed DC Motor
      • Brushless DC Motor
    • Hermetic Motor
  • By Power Output Outlook 
    • Integral HP Output
    • Fractional HP Output
  • By Application Outlook 
    • Industrial Machinery
    • Motor Vehicles
    • HVAC Equipment
    • Aerospace & Transportation
    • Household Appliances
    • Others
  • Regional Outlook 
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • China
      • Japan
      • India
    • Latin America
    • Middle East & Africa

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