Electric Motor Market Size

Electric Motor Market size was valued at USD 140.62 billion in 2024 and is expected to reach USD 355.72 billion by 2037, registering around 7.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of electric motor is assessed at USD 148.94 billion.

The reason behind the growth is the increasing demand for energy-efficient motors. According to the International Energy Association (IEA) published in the year 2023, the primary cause of the decreased global energy intensity improvement rate is the 1.7% increase in energy demand in 2023, as opposed to the 1.3% increase in the previous year.