What is the current NA Electric Motors Market size?

The NA Electric Motors Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029) Read More

Who are the key players in NA Electric Motors Market?

Siemens AG, Mitsubishi Heavy Industries, Ltd., ABB Ltd, Robert Bosch GmbH and General Electric Company are the major companies operating in the NA Electric Motors Market. Read More

What years does this NA Electric Motors Market cover?

The report covers the NA Electric Motors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the NA Electric Motors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

North America Electric Motors Market Size & Share Analysis - Industry Research Report

North America Electric Motors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The North America Electric Motors market is Segmented by Motor Type (DC and AC), Voltage (Less Than 1 KV, Between 1 KV - 6 KV, and Higher Than 6 KV), Application (Residential, Commercial, Industrial, and Automotive), and Country. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

North America Electric Motors Industry Overview

The North American electric motors market is fragmented and accommodates several key players such as General Electric Company, Mitsubishi Heavy Industries, and ABB Ltd. Key companies operating in the market are focusing on different growth strategies to stabilize their position in the market.

September 2022 - Mitsubishi Electric Corporation, together with Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), announced the development of an electrical motor-design support system that incorporates Mitsubishi Electric's Maisart AI technology to reduce the time required for producing electrical motor designs that achieve performance similar to the conventional design methods manually deployed by engineers.
August 2022 - ABB announced signing an agreement with Siemens to purchase its low-voltage NEMA motor business. This acquisition provides a well-regarded product portfolio, an experienced operations, sales, and management team, and a longstanding North American customer base. The business employs around 600 people. It generated revenues of approximately USD 63 million in 2021.