U.S. Electric Motor Market Size, Share & Trends Analysis Report By Motor Type (AC Motor, DC Motor, Hermetic Motor), By Power Output (Integral HP Output, Fractional HP Output), By Application,- Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2033

U.S. Electric Motor Market Size and Growth

The U.S. electric motor market size was exhibited at USD 27.85 billion in 2023 and is projected to hit around USD 65.33 billion by 2033, growing at a CAGR of 8.9% during the forecast period 2024 to 2033.

U.S. Electric Motor Market Key Takeaways:

• In terms of application, the motor vehicles segment dominated the market in 2023 with the largest revenue share of more than 42.0%.
• The segment is anticipated to register the fastest CAGR of more than 10.5% from 2024 to 2033.
• Based on motor type, the AC motor segment dominated the market in 2023 with the largest revenue share of more than 70.0%. 
• The hermetic type electric motor is anticipated to register the fastest CAGR exceeding 9.4% from 2024 to 2033.
• In terms of power output, the Fractional Horsepower (FHP) output segment dominated the market in 2023 with the largest revenue share of more than 78.0%.
• However, the Integral Horsepower (IHP) output segment is anticipated to register the fastest CAGR from 2024 to 2033.

Report Scope of U.S. Electric Motor Market

The growing awareness regarding green vehicles (electric vehicles) among customers is a critical factor in the growth of the market. In addition, the U.S. government is providing incentives for adopting electric vehicles (EVs) as they have zero carbon emissions, which is also aiding in market growth. There are several advancements to the electric motor technology such as the advent of better insulation materials that enhance the operational efficiency and product life, which in turn, are propelling the market growth. Moreover, with the potential increase in automobile production over the forecast period, the market is anticipated to witness an upward growth curve.

In 2023, the U.S. accounted for approximately 14.82% share of the global electric motor market. The electric motors are utilized in various components such as compressors, machine tools, fans, pumps, domestic appliances, HVAC applications, power tools, electric cars, and automated robots. These high-efficiency motors have long operating life, low maintenance, low energy consumption, and a high tolerance for fluctuating voltages, which results in effective cost savings. Therefore, electric motors have a high adoption rate for energy-efficient products in both the industrial and agricultural sectors.

The energy-efficient motor's demand is driven by rising electricity prices and stringent electricity consumption standards. In addition, companies are adopting stringent manufacturing and designing standards to develop efficient products. There has been a gradual shift in the industry towards efficient motorized systems. In addition, the U.S. Environmental Protection Agency (EPA)’s regulations recommend optimal power-consuming motors, which may require replacing older electric motors. These factors are resulting in increased sales of electric motors, which is fueling the market growth.

As the environmental benefits offered by EVs are helping reducing carbon footprints, the introduction and progress of EVs have significantly impacted the electric motor industry, which is boosting their implementation in EVs. These machines aid in augmenting a device’s efficiency, as compared to standard ones, and save costs related to energy consumed. Moreover, growing concern and awareness regarding global climate changes and the greenhouse effect is anticipated to shift consumers’ focus towards electric type vehicles, which is projected to bolster the demand for electric motors. The need for low-power consumption and improved efficiency products is poised to fuel the demand for the product over the next few years.

However, the awareness about the advantages of electric motors offered by their efficiency and cost savings has still not reached the desired level, which is acting as a market restraint. In addition, the high initial purchase costs are also a factor, which is restraining the market growth.

U.S. Electric Motor Market By Application Insight

In terms of application, the motor vehicles segment dominated the market in 2023 with the largest revenue share of more than 42.0%. This large share is attributable to the increased adoption of electric motors in the automotive industry. An average commercial car has more than 40 electric motors ranging from low to high power. Further, the advent of low-cost and highly efficient electronics, coupled with improvements in permanent magnetic materials, drives the market growth in the automotive industry. Rising fuel prices and pollution are leading to a rapid increase in the demand for EVs in developed economies such as the U.S. Thus, the high demand for electric motors from the electric vehicle industry drives the market growth significantly.

Electric motors are extensively used in heavy industrial equipment as well as agricultural types of machinery and vehicles. In the U.S., the agricultural sector is highly mechanized and uses heavy industrial equipment on a large scale. Therefore, the demand for low-cost and energy-efficient products has increased in these countries. The HVAC equipment, such as commercial and industrial air conditioners, relies heavily on electric motors. The segment is anticipated to register the fastest CAGR of more than 10.5% from 2024 to 2033. Increasing applications of electric motors in various residential and office buildings, hotels, and warehouses, are likely to encourage the growth of the segment.

U.S. Electric Motor Market By Motor Type Insights

Based on motor type, the AC motor segment dominated the market in 2023 with the largest revenue share of more than 70.0%. This large share is attributable to AC motors' extensive applications ranging from irrigation pumps to modern-day robotics. Furthermore, they are compact, economical, and lightweight and are also widely used in HVAC equipment. The adoption of electric AC motors in the automotive industry has increased exponentially, owing to the advent of highly efficient and low-cost electronics, accompanied by improvements in permanent magnetic materials. The increasing demand for electric AC motors in various industries, including chemicals, paper and pulp, cement, and wastewater treatment, is expected to further contribute to the growth of the segment. Growing sales of EVs and the subsequent scope of the machine type are also expected to spur the segment's growth over the forecast period.

The hermetic type electric motor is anticipated to register the fastest CAGR exceeding 9.4% from 2024 to 2033, owing to ease of handling, less maintenance, and easy transportation. The segment's growth can also be attributed to increasing demand from HVAC system manufacturers backed by suitability in such applications. The burgeoning popularity of vehicle features such as motorized seats, adjustable mirrors, and sunroof systems is fueling the demand for brushless DC motors. DC types are used for variable speed control applications in industrial machinery and equipment and electronic toys. Brushless DC motors are widely used owing to their low cost of maintenance, thus, generating higher revenue in the DC segment.

U.S. Electric Motor Market By Power Output Insights

In terms of power output, the Fractional Horsepower (FHP) output segment dominated the market in 2023 with the largest revenue share of more than 78.0%. This large share is attributable to its applications in all household appliances, ranging from vacuum cleaners to coffee machines and refrigerators. They are also used in industrial equipment as they are suitable for operations in a heavy industrial environment. These motors have numerous advantages, including high starting torque and stability over electric current fluctuations.

Furthermore, the energy efficiency provided by FHP motors is higher than its counterparts, which is poised to translate into greater demand from industrial users willing to replace existing machines with more efficient ones. However, the Integral Horsepower (IHP) output segment is anticipated to register the fastest CAGR from 2024 to 2033. The high growth is attributable to the increasing demand for these motors for industrial applications. IHP motors provide more power to the machines and devices, which drives its demand from high-end applications in the aerospace and transportation industry.

U.S. Electric Motor Market Recent Developments

• In September 2023, AMETEK, Inc. announced the acquisition of United Electronic Industries (UEI), a leading provider of data acquisition and control solutions for the aerospace, defense, energy and semiconductor industries. UEI specializes in the design and manufacture of high-performance test, measurement, simulation, and control solutions that enable customers to build smart, reliable, flexible, and rugged systems. The company's products are used in a variety of mission-critical applications, including flight simulation and training, machine health and usage monitoring, and automated testing.
  
  
• IN May 2023, AMETEK, Inc. announced the acquisition of Bison Gear & Engineering Corp. (Bison), a leading manufacturer of highly engineered motion control solutions serving diverse markets and applications. Bison designs and manufactures custom motion control solutions for use in demanding and high-precision applications within the automation, power, food and beverage, and transportation markets.
  
  
• In April 2023, Regal Rexnord acquired Altra Industrial Motion, a global industrial automation and power transmission business, which will enable both companies to offer improved service capability breadth, technology content, and domain expertise.

Some of the prominent players in the U.S. electric motor market include:

• ABB Ltd.
• Allied Motion Technologies, Inc.
• Ametek Inc.
• Johnson Electric Holdings Limited
• Nidec Motor Corporation
• Franklin Electric Co., Inc.
• Regal Rexnord Corporation
• Schneider Electric
• Siemens
• ORIENTAL MOTOR USA CORP
• WorldWide Electric Corporation

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. electric motor market

Motor Type

• AC Motor

• • Synchronous AC Motor
  • Induction AC Motor

• DC Motor

• • Brushed DC Motor
  • Brushless DC Motor

• Hermetic Motor

Power Output

• Integral HP Output
• Fractional HP Output

Application

• Industrial Machinery
• Motor Vehicles
• HVAC Equipment
• Aerospace & Transportation
• Household Appliances
• Others