Asia-Pacific (APAC) generated the highest revenue in the electric motor market in 2020, and it will also witness the highest CAGR till 2030. This will be because of the burgeoning production of automobiles, consumer electronics, electrical appliances, and rolling stock. For instance, the Indian Railways is manufacturing 800 electric locomotives and 1,000 diesel–electric locomotives, which will boost the demand for high-power electric motors.

Further, the growing manufacturing sector of the region is boosting the demand for electric motors for equipment such as lifts, conveyors, mills, pumps, compressors, blowers, and power tools. The power output segment of the electric motor market is bifurcated into integral and fractional, of which the fractional bifurcation dominated the market during 2014–2019 (historical period). This is attributed to the rising demand for fractional-HP electric motors, which are those with a power output of less than 1 HP, in automotive (non-traction applications) and consumer electronics industries.

During the forecast period, the faster growth will be witnessed in the integral bifurcation, as integral-HP motors, which offer an output power of over 1 HP, are finding increasing applications across industries. In this regard, the growing EV adoption will boost the demand for high-power motors. As the main power generator in such vehicles is the motor, it has to offer a high power output to be able to propel the automobile forward at an ample speed.

With countries around the world doing their bit to encourage mass EV adoption, in an effort to bring down the levels of air pollution, the demand for integral-HP electric motors will only increase. Moreover, around the world, the railway network is being expanded, and all electric and diesel–electric locomotives, diesel multiple units (DMU), and electric multiple units (EMUs) use high-power motors.

Thus, with the booming population driving the demand for an array of products that run on electricity, the usage of electric motors will keep rising.