The Electric Motors Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).


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According to The Business Research Company’s Electric Motors Global Market Report 2024, The electric motors market size has grown steadily in recent years. It will grow from $103.21 billion in 2023 to $107.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to industrial revolution, electrification of industries, transportation and automotive industry, consumer appliances and home automation.

The electric motors market size is expected to see steady growth in the next few years. It will grow to $124.35 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to electrification of transportation, industrial automation, renewable energy, energy efficiency regulation, iot and smart systems. Major trends in the forecast period include high-efficiency motors, miniaturization, sensor integration, sustainable materials, customization and modular design.

An increase in the sale of electric vehicles is expected to propel the growth of the electric motors market. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing popularity of electric vehicles drives the demand for electric to drive the wheels. For instance, in May 2023, according to the International Energy Agency (IEA), a France-based independent intergovernmental organization, there were 10 million electric vehicles sold in 2022, and the number of electric vehicles sold increased to 14 million in 2023. Therefore, the growing demand for electric vehicles (EVs) is driving the growth of the electric motors market going forward.

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The electric motors market covered in this report is segmented –

1) By Type: Alternate Current (AC) Motor; Direct Current (AC) Motor; Hermetic Motor
2) By Output Power: Integral Horsepower (IHP); Fractional Horsepower (FHP)
3) By Application: Industrial Machinery; Motor Vehicle; HVAC Equipment; Aerospace & Transportation; Household Appliances; Other Commercial Applications

Sub-Segments-
By Voltage Range: 9v & Below; 10-20 v; 21-60 v; 60 v And Above
By Speed: Low-Speed (less than 1;000 rpm); Medium-Speed (1;001 to 25;000 rpm); High-Speed (25;001 to 75;000 rpm); Ultra-High Speed (greater than 75;001 rpm)



The electric motors market report table of contents includes:

1. Executive Summary
2. Emergency And Other Relief Services Market Characteristics
3. Emergency And Other Relief Services Market Trends And Strategies
4. Emergency And Other Relief Services Market - Macro Economic Scenario
5. Global Emergency And Other Relief Services Market Size and Growth
.................
31. Global Emergency And Other Relief Services Market Competitive Benchmarking
32. Global Emergency And Other Relief Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Emergency And Other Relief Services Market
34. Emergency And Other Relief Services Market Future Outlook and Potential Analysis
35. Appendix
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