The market revenue for electric motors in North America is projected to grow from approximately $28,500 million in 2025 to $57,300 million by 2035. Key contributors include rising automation in manufacturing, expanding EV adoption, and retrofitting of outdated infrastructure for energy efficiency. This robust CAGR reflects the ongoing transformation across end-user industries and continuous innovation by leading companies.
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The Industrial application segment holds the largest market share in North America due to broad usage of electric motors in manufacturing processes and automation. Automotive remains a strong driver, with EV adoption and electrification of vehicle subsystems expanding. The HVAC sector is rapidly growing, led by high-efficiency building requirements. The residential, commercial, and aerospace & defense segments are also significant, contributing to overall diversified demand.
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Who are the key players in North America Electric Motors Market industry?
The top five players in the North America electric motors market are ABB Ltd., Siemens AG, Nidec Corporation, Rockwell Automation, and WEG SA. These companies lead due to their innovative product portfolios, extensive distribution networks, R&D investments, and strategic partnerships, ensuring a significant market presence across various industrial applications.
What is the North America Electric Motors Market growth?
The North America electric motors market has witnessed steady growth driven by rising investments in electric vehicle manufacturing, automation, and energy efficiency initiatives. For instance, Siemens AG recently expanded its production capacity in the U.S. to support the growing demand for electric motors, fostering overall market expansion.
Which segment accounted for the largest North America Electric Motors Market share?
The automotive sector holds the largest market share in the North America electric motors market, primarily due to increasing electric vehicle (EV) production. High demand for EVs, supported by government incentives and consumer preference for cleaner transportation, has accelerated adoption of electric motors within this application segment.
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