Electric Motor Market by Motor Type (AC Motor, DC Motor, Hermetic Motor), by Power Output (Fractional Horsepower (Up to 1HP), by Voltage (Up to 1kV, 1kV - 6.6kV, Above 6.6kV), by Application (Industrial Machinery, Motor Vehicles, HVAC Equipment, Electrical Appliances, Others), by End-User (Industrial, Commercial, Residential, Agriculture, Transportation), by By Geography (North America), by Europe (By Motor Type, By Power Output, By Voltage, By Application, By End-User, By Country), by Asia Pacific (By Motor Type, By Power Output, By Voltage, By Application, By End-User, By Country), by Latin America (By Motor Type, By Power Output, By Voltage, By Application, By End-User, By Country), by The Middle East & Africa (By Motor Type, By Power Output, By Voltage, By Application, By End-User, By Country) Forecast 2024-2032
The Electric Motor Marketsize was valued at USD 106.45 USD Billion in 2023 and is projected to reach USD 153.83 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period. An electric motor is a device that converts electrical energy into mechanical motion through electromagnetic forces. It operates on the principle of interaction between a magnetic field and current-carrying conductors, creating rotational force. The main types of electric motors include AC motors, which operate on alternating current and include synchronous and asynchronous (induction) motors, and DC motors, which run on direct current and include brushed and brushless variants. Key features of electric motors include efficiency, speed control, and torque production. Applications span various industries: AC motors are commonly used in appliances and industrial equipment, while DC motors are found in electronics, automotive, and small machinery. Electric motors are integral to modern technology, powering everything from household devices to manufacturing systems.
Motor Type:
Power Output:
Application:
End-User:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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