Electric Motors Market in Transportation Sector By Motor (Traction Motors, Small DC Motors For Automotive [Air Suspension Motors, ABS Motors, Vacuum Pump Motors, Fork Lift Actuation Motors, Cooling Fans & Blower's Motors], Small DC Motors For Railways And

Electric Motors Market in Transportation Sector By Motor (Traction Motors, Small DC Motors For Automotive [Air Suspension Motors, ABS Motors, Vacuum Pump Motors, Fork Lift Actuation Motors, Cooling Fans & Blower's Motors], Small DC Motors For Railways And Aerospace Applications [High Voltage Motor, Low Voltage Motor, Cooling Motor, HVAC Compressor Motors]), By End-use (OEM, Aftermarket), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 - 2032

Electric Motors Market in Transportation Sector is slated to grow exponentially owing to the rising adoption of electric motors in passenger cars and commercial vehicles. Besides, the rising availability of customized options has amassed massive traction, thereby bolstering the market demand through 2032.

The key players in the global electric motors market in transportation sector are continuously incorporating strategic initiatives such as mergers and acquisitions, partnerships, and launching new products to strengthen their position in the industry. For instance, In July 2021, RBC Bearings acquired manufacturer ABB - DODGE Mechanical Power Transmission Business from ABB in a deal worth USD 2.9 billion. With this deal, RBC Bearings is expected to reduce its dependency on the aerospace industry, which was severely affected by the COVID-19 pandemic.

Overall, the electric motors market in the transportation sector is divided in terms of motor, end-use, and region.

Considering the motor, the small DC motors for railways and aerospace application segment is expected to reach over USD 5.5 billion by 2032. The growth can be credited to the increasing deployment of DC motors in applications that need superior performance at low speed with augmented efficiency. In addition, the rising demand for modern devices with precise operational requirements per application will also positively impact the segment. Besides, mounting demand for products with low noise and variable power will also add impetus to the segmental expansion between 2023 and 2032.



Based on end-use, the aftermarket segment is anticipated to account for more than USD 6 billion in terms of revenue by 2032. The segment will demonstrate robust growth owing to the increasing demand for vehicle parts and the rising shift toward noiseless and precise operation of products and high-profit margins. In addition, increasing product demand from domestic and international markets in view of competitively better priced products along with excellent product standards will drive the market through 2032.

In the regional context, the Europe electric motors market in the transportation sector is expected to depict over 5% CAGR through 2032. The market is slated to grow considerably during the estimated timeframe owing to the constant technological advancements taking place in the region. In addition, the presence of some of the leading players and growing awareness among consumers regarding ecological living is further slated to drive market expansion in the region.

Not to mention, the thriving automotive business in Europe would supplement the growing market curve for electric motors in transportation sector. As per the ACEA projections, motor vehicle registrations in the European continent accounted for more than 13.5% of the global motor vehicle registrations in 2021.