Electric Motors Market Poised to Soar: North America's Role in Driving Growth Toward $186.0 Billion by 2027

The global electric motors market is expected to grow from USD 134.0 billion in 2022 to USD 186.0 billion by 2027, at a CAGR of 6.8% during the forecast period. The electric motors market in the U.S. is a thriving sector within the global market that is expected to grow at a significant growth rate due to the rising demand for energy-efficient motors across diverse industries such as Industrial, Commercial, Residential, Agriculture, and Transportation. Among the end use industries, Industrial is anticipated to dominate in the U.S. market due to the rise in the investment plans toward development of advanced manufacturing technologies. According to the Association of American Railroads, the country is investing in greener technologies by developing improved freight car designs and more efficient locomotives to help railroads reduce energy consumption, pollution, and greenhouse gas emissions. These investments are likely to create a demand for electric motors in the US.

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Some of the top companies operating in the U.S. motor market include Regal Rexnord Corporation, AMETEK, Allied Motion, Rockwell automation, Arc Systems, and others.

Allied Motion product portfolio includes brushed and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gear motors, modular digital servo drives, motion controllers, incremental and absolute optical encoders, and associated motion control-related products. The products, solutions, and mechanical and electronic motion technologies offered by Allied Motion Technologies cater to the requirements of the automotive, medical, aerospace & defense, and electronics industries. AMETEK is a large-scale manufacturer of electronic instruments and electromechanical devices. It operates through Electronic Instruments and Electromechanical segments. The Electromechanical business segment of AMETEK offers precision motor control solutions, blowers, pumps, heat exchangers, and other electromechanical systems. Electric motors offered by the company are used in automation applications, as well as in semiconductor equipment, medical equipment, and the power industry. For instance, January 2020, Regal Rexnord Corporation launched three new models of its SyMAX permanent magnet motor, with output power ratings of 0.5, 0.75, and 2 HP. The motors are suitable for fan applications. For instance, in April 2021, AMETEK PDS, a subsidiary of AMETEK, launched the MB76A-1 and MB76C-2 compressor Drive Motors. These motors are used to power climate control systems in aircraft. In November 2019, Allied Motion Technologies introduced the KinetiMax High-power Density (HPD) motor series. The new outer-rotor brushless motor is designed for high-torque, low-cogging applications such as robotics, AGVs, and handheld power tools.

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The Grow America Act is a significant infrastructure bill that aims to enhance the safety and overall quality of the country's roads, bridges, public transportation systems, and railways. A key feature of the Act is the allocation of roughly USD 28.6 billion towards developing advanced passenger rail systems. Additionally, the US government's latest budget plan includes funding to propel the development and widespread adoption of new, cutting-edge manufacturing technologies. These investments in various sectors that rely on electric motors are anticipated to lead to a surge in demand for electric motors within the US.

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