Electric Motor and Generator Market Report 2026

The electric motor and generator market size has grown steadily in recent years. It will grow from $133.07 billion in 2025 to $137.39 billion in 2026 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to industrial electrification, hvac system growth, adoption of electric machinery, expansion of power generation assets, motor replacement cycles.

The electric motor and generator market size is expected to see steady growth in the next few years. It will grow to $160.07 billion in 2030 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to ev adoption growth, renewable energy integration, smart factory investments, efficiency regulations, digital motor monitoring. Major trends in the forecast period include growing demand for high-efficiency motors, expansion of ev and industrial applications, adoption of smart motor controls, integration with automation systems, rising focus on energy savings.

The rising mining activities are expected to propel the growth of the electric motor and generator market going forward. Mining activities involve the extraction of valuable minerals, ores, or other geological resources from the earth's crust. Electric motors and generators are used in mining and mineral processing as driving equipment for crushers, mills, and hoists, supporting the extraction, processing, storage, and transportation of resources such as crude oil, petroleum, and natural gas. For instance, in July 2023, according to the Indian Bureau of Mines (IBM) via the Ministry of Mines, Government of India, the “mineral production index” for the mining and quarrying sector reached 111.9, marking a 10.7% increase compared to July 2022. Therefore, rising mining activities are driving the growth of the electric motor and generator market.

Major companies operating in the electric motor and generator market are focusing on high-efficiency, magnet-free motor designs, such as axial-flux and rare-earth-free architectures, to gain a competitive edge. For instance, in July 2025, Orbis Electric, a US-based company, launched its HaloDrive axial-flux motor-generator, delivering a torque density comparable to a V8 engine while being slimmer, lighter, and lower-cost than conventional motors, with up to 97% operational efficiency. This trend supports broader electrification and energy-efficiency objectives by reducing material dependency and improving power density and cost-effectiveness. However, adoption requires OEMs and end-users to validate reliability and integrate new form factors into existing platforms.

In September 2023, WEG Industries, a Brazil-based company specializing in electric-electronic equipment, acquired the electric motors and generators business of Regal Rexnord Corporation for $400 million. This acquisition positions WEG Group to enhance its strategy for sustainable growth, international expansion, and diversification within its industrial operations. By integrating well-established brands and a complementary product line, this move will bolster the company's presence in the industrial electric motors and generators markets. Regal Rexnord Corporation is a U.S.-based manufacturer of electric motors and generators.

Major companies operating in the electric motor and generator market report include Caterpillar Inc, Nidec Corporation, Siemens AG, ABB Ltd, General Electric Company, Hitachi Ltd, WEG, Generac Holdings Inc, Kohler Co, Kirloskar Group, Mitsubishi Electric Corporation, TECO Electric & Machinery Co., Ltd, Toshiba, Schneider Electric, Leroy-Somer Electric Motors & Generators, SEW-EURODRIVE GmbH & Co KG, MAN Energy Solutions, Cummins, HiPower Systems, Taylor Power Systems Inc, Multiquip, Atlas Copco, CG Power and Industrial Solutions Ltd, ACTOM Pty Ltd, MarelliMotori SpA.

Asia-Pacific was the largest region in the electric motor and generator market in 2025. The regions covered in the electric motor and generator market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric motor and generator market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric motor and generator market consist of sales of series motors, shunt motors, compound motors, synchronous motors, induction motors, linear motors and adjustable speed motors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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