US Electric Motor Market Forecasts Rapid Growth, Forecast 2022 – 2032

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In 2021, the electric motor market is expected to grow annually (YoY) by 4.2% and reach 1.2 billion units. According to the report, demand for AC motors increased by 5.1% to 837 million units in 2021, while demand for DC motors will increase by 2.2% to 339 million units.  North America currently holds dominance, accounting for over more than 1/4th of the electric motor market in 2021. The expansion of the electronics sector in the region is creating growth opportunities for the years ahead. The U.S. currently leads the global market, with revenue expected to reach US$ 40.4 Bn by 2031. 

The electric motors market however registered a moderate decline in its sales volume in FY2020 due to the unforeseen COVID-19 pandemic. Demand from major end-use industries like automotive, oil & gas, and other waned. Contrary to this, sections of the medical sector were not affected due to an increase in demand amid the adoption of COVID-19 precautionary measures. AC Electric Motors will remain the top-selling product in the market, accounting for over 70% of revenue generated in the global market by 2031.

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Demand for alternating current (AC) electric motors has been steadily increasing. This can be attributed to the operating advantage

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