Industrial Production Products & Services

Electric AC Motors: Market Size, Growth & Forecast to 2030

The Electric AC Motors market is valued at about $168 billion (2026) and is projected to grow at a 4.6% CAGR through 2030. The largest cost driver is Electrical Steel (NGOES and GOES) (35% of spend). Asia Pacific leads demand at 45%.

Market size
$168.0 bn (2026)
CAGR to 2030
+4.6%
Buyer power
Favours buyers
Tracked suppliers
45
Projected market growth (index, 2026 = 100)
Base year 2026
Official data · Claight projectionForecast
Market size index, 2026 = 100, at the 4.6% CAGR.
Forecast
2026
2027
2028
2029
2030
2031
2026 base: 1002031 est: 125

Cost structure

Electrical Steel (NGOES and GOES)
35%
Copper Windings
15%
Aluminum Housings and Components
12%
Rare Earth Elements (Neodymium and Dysprosium)
8%
Manufacturing Labor and Overhead
30%

Regional demand split

Asia Pacific demand
45%
Europe demand
22%
North America demand
20%
Latin America demand
7%
Rest of world demand
6%

Key suppliers

ABBSiemensWEGNidecDanfossNord DrivesystemsSEW-EurodriveBosch
Read the full Electric AC Motors report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/electric-ac-motors