Worldwide DC Motor Market: Upward Consumption Trend Expected with +2.9% CAGR - News and Statistics - IndexBox

Feb 26, 2025

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The global DC motor market is expected to see a rise in demand over the next decade, with an anticipated CAGR of +2.9% from 2024 to 2035. This growth is forecast to bring the market volume to 5.9B units and market value to $73.5B by the end of 2035.

Driven by rising demand for DC motor worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +2.9% for the period from 2024 to 2035, which is projected to bring the market volume to 5.9B units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2024 to 2035, which is projected to bring the market value to $73.5B (in nominal wholesale prices) by the end of 2035.

In 2024, the amount of DC motors consumed worldwide shrank to 4.3B units, reducing by -3.6% on the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak volume of 4.6B units. From 2022 to 2024, the growth of the global consumption remained at a lower figure.

The global DC motor market revenue rose remarkably to $53.4B in 2024, picking up by 5.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated moderate growth from 2013 to 2024: its value increased at an average annual rate of +4.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2024 and is expected to retain growth in the near future.

The countries with the highest volumes of consumption in 2024 were India (432M units), China (426M units) and the United States (414M units), with a combined 29% share of global consumption. Japan, Mexico, Germany, Vietnam, the Czech Republic, Brazil and Indonesia lagged somewhat behind, together accounting for a further 32%.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Vietnam (with a CAGR of +17.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Mexico ($6.7B), Japan ($6.3B) and the United States ($5.1B) appeared to be the countries with the highest levels of market value in 2024, with a combined 34% share of the global market. China, Germany, India, Brazil, Vietnam, Indonesia and the Czech Republic lagged somewhat behind, together comprising a further 15%.

Among the main consuming countries, Vietnam, with a CAGR of +15.3%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2024, the highest levels of DC motor per capita consumption was registered in the Czech Republic (15 units per person), followed by Japan (3 units per person), Germany (2.2 units per person) and Mexico (1.9 units per person), while the world average per capita consumption of DC motor was estimated at 0.5 units per person.

From 2013 to 2024, the average annual growth rate of the DC motor per capita consumption in the Czech Republic stood at +3.7%. In the other countries, the average annual rates were as follows: Japan (+14.5% per year) and Germany (+6.9% per year).

In 2024, the amount of DC motors produced worldwide contracted to 3.5B units, remaining stable against the year before. In general, production, however, continues to indicate a tangible expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 69%. Over the period under review, global production attained the maximum volume at 3.6B units in 2021; however, from 2022 to 2024, production failed to regain momentum.

In value terms, DC motor production rose slightly to $37B in 2024 estimated in export price. Overall, the total production indicated notable growth from 2013 to 2024: its value increased at an average annual rate of +4.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -5.6% against 2021 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 28%. Over the period under review, global production attained the peak level at $39.2B in 2021; however, from 2022 to 2024, production stood at a somewhat lower figure.

The country with the largest volume of DC motor production was China (2.1B units), comprising approx. 61% of total volume. Moreover, DC motor production in China exceeded the figures recorded by the second-largest producer, India (173M units), more than tenfold. Japan (163M units) ranked third in terms of total production with a 4.7% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in China stood at +5.0%. The remaining producing countries recorded the following average annual rates of production growth: India (+18.6% per year) and Japan (-1.3% per year).

For the third year in a row, the global market recorded decline in overseas purchases of DC motors, which decreased by -4% to 4.8B units in 2024. In general, imports showed a pronounced shrinkage. The pace of growth was the most pronounced in 2018 when imports increased by 27% against the previous year. Global imports peaked at 6.5B units in 2013; however, from 2014 to 2024, imports remained at a lower figure.

In value terms, DC motor imports reduced to $30.3B in 2024. The total import value increased at an average annual rate of +2.5% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 18% against the previous year. As a result, imports reached the peak of $33.3B. From 2022 to 2024, the growth of global imports remained at a lower figure.

In 2024, China (533M units), the United States (454M units), Mexico (348M units), Hong Kong SAR (337M units), Thailand (293M units), Japan (292M units), India (288M units), the Netherlands (199M units) and Germany (196M units) was the major importer of DC motors in the world, mixing up 61% of total import. South Korea (189M units) followed a long way behind the leaders.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Netherlands (with a CAGR of +27.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($5.7B) constitutes the largest market for imported DC motors worldwide, comprising 19% of global imports. The second position in the ranking was held by Germany ($2.5B), with an 8.2% share of global imports. It was followed by China, with a 7% share.

In the United States, DC motor imports increased at an average annual rate of +4.3% over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and China (-2.3% per year).

In 2024, electric motors (4B units) represented the main type of DC motors, comprising 82% of total imports. It was distantly followed by electric motors and generators (823M units), generating a 17% share of total imports.

Imports of electric motors decreased at an average annual rate of -3.5% from 2013 to 2024. At the same time, electric motors and generators (+2.9%) displayed positive paces of growth. Moreover, electric motors and generators emerged as the fastest-growing type imported in the world, with a CAGR of +2.9% from 2013-2024. Electric motors and generators (+7.8 p.p.) significantly strengthened its position in terms of the global imports, while electric motors saw its share reduced by -8.6% from 2013 to 2024, respectively.

In value terms, the largest types of imported DC motors were electric motors ($13.8B), electric motors and generators ($12.6B) and electric motors and generators ($2.8B), with a combined 97% share of global imports.

Electric motors and generators, with a CAGR of +8.4%, recorded the highest growth rate of the value of imports, among the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

The average DC motor import price stood at $6.3 per unit in 2024, falling by -5.2% against the previous year. In general, import price indicated resilient growth from 2013 to 2024: its price increased at an average annual rate of +5.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the average import price increased by 42% against the previous year. Global import price peaked at $6.6 per unit in 2023, and then reduced in the following year.

Prices varied noticeably by the product type; the product with the highest price was electric motors and generators ($1 thousand per unit), while the price for electric motors ($3.5 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by electric motors; of an output not exceeding 37.5W (+4.1%), while the other products experienced mixed trends in the import price figures.

In 2024, the average DC motor import price amounted to $6.3 per unit, declining by -5.2% against the previous year. Overall, import price indicated a strong increase from 2013 to 2024: its price increased at an average annual rate of +5.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 42%. Over the period under review, average import prices attained the peak figure at $6.6 per unit in 2023, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($13 per unit), while Hong Kong SAR ($1.7 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the other global leaders experienced more modest paces of growth.

In 2024, the amount of DC motors exported worldwide declined to 4B units, remaining constant against 2023 figures. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 92% against the previous year. Over the period under review, the global exports attained the maximum at 5.5B units in 2014; however, from 2015 to 2024, the exports remained at a lower figure.

In value terms, DC motor exports fell to $29.3B in 2024. The total export value increased at an average annual rate of +3.0% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 22%. Over the period under review, the global exports hit record highs at $32.7B in 2023, and then reduced in the following year.

China prevails in exports structure, finishing at 2.2B units, which was approx. 56% of total exports in 2024. Hong Kong SAR (301M units) ranks second in terms of the total exports with a 7.6% share, followed by Thailand (5.3%). The following exporters - Switzerland (123M units), Mexico (117M units), the Netherlands (111M units), Germany (111M units), South Korea (84M units), Japan (81M units) and Austria (76M units) - together made up 18% of total exports.

From 2013 to 2024, average annual rates of growth with regard to DC motor exports from China stood at -1.9%. At the same time, the Netherlands (+32.5%), Hong Kong SAR (+31.0%), Austria (+23.9%) and Mexico (+2.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +32.5% from 2013-2024. Switzerland experienced a relatively flat trend pattern. By contrast, South Korea (-3.3%), Thailand (-3.8%), Japan (-4.7%) and Germany (-8.0%) illustrated a downward trend over the same period. Hong Kong SAR (+7.2 p.p.), the Netherlands (+2.7 p.p.) and Austria (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Thailand, Germany and China saw its share reduced by -2.1%, -3.5% and -7% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($7.9B) remains the largest DC motor supplier worldwide, comprising 27% of global exports. The second position in the ranking was held by Germany ($2.4B), with an 8.3% share of global exports. It was followed by Mexico, with a 6% share.

From 2013 to 2024, the average annual rate of growth in terms of value in China totaled +4.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-1.1% per year) and Mexico (+4.8% per year).

Electric motors was the main type of DC motors in the world, with the volume of exports resulting at 3.2B units, which was approx. 81% of total exports in 2024. It was distantly followed by electric motors and generators (712M units), committing an 18% share of total exports.

Exports of electric motors decreased at an average annual rate of -1.8% from 2013 to 2024. At the same time, electric motors and generators (+4.4%) displayed positive paces of growth. Moreover, electric motors and generators emerged as the fastest-growing type exported in the world, with a CAGR of +4.4% from 2013-2024. While the share of electric motors and generators (+7.9 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of electric motors (-8.4 p.p.) displayed negative dynamics.

In value terms, electric motors ($13.6B), electric motors and generators ($11.6B) and electric motors and generators ($3.1B) appeared to be the products with the highest levels of exports in 2024, together comprising 97% of global exports.

Electric motors and generators, with a CAGR of +8.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

The average DC motor export price stood at $7.4 per unit in 2024, declining by -9.3% against the previous year. Overall, export price indicated a pronounced increase from 2013 to 2024: its price increased at an average annual rate of +3.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 104%. Over the period under review, the average export prices hit record highs at $10 per unit in 2017; however, from 2018 to 2024, the export prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was electric motors and generators ($6.7 thousand per unit), while the average price for exports of electric motors ($4.2 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by electric motors; of an output not exceeding 37.5W (+2.7%), while the other products experienced more modest paces of growth.

In 2024, the average DC motor export price amounted to $7.4 per unit, shrinking by -9.3% against the previous year. Over the period under review, export price indicated a tangible increase from 2013 to 2024: its price increased at an average annual rate of +3.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 104% against the previous year. Over the period under review, the average export prices hit record highs at $10 per unit in 2017; however, from 2018 to 2024, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($22 per unit), while Hong Kong SAR ($1.9 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by South Korea (+8.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global dc motor market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

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