Global Electric Motor Rotor Shaft Market Insights Forecasts to 2033

• The Global Electric Motor Rotor Shaft Market Size was estimated at USD 2.10 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.36% from 2023 to 2033
• The Worldwide Electric Motor Rotor Shaft Market Size is Expected to Reach USD 3.89 Billion by 2033
• Europe is expected to grow the fastest during the forecast period.

The Global Electric Motor Rotor Shaft Market Size is expected to cross USD 3.89 Billion by 2033, Growing at a CAGR of 6.36% from 2023 to 2033. The need for high-precision motor rotor shafts for a variety of automated applications is being driven by the growth of industrial automation and robotics, especially in manufacturing.  

Market Overview  

The business and industry that produces, distributes, and sells rotor shafts for electric motors is known as the "electric motor rotor shaft market." Electric motors depend on the rotor shaft to transfer the mechanical energy produced by the rotor to other components, like the output shaft or mechanical load. Rotor shafts of an electric motor are used in several industries, which include automotive, industrial machinery, household appliances, HVAC systems, and many others. The electric motor rotor shaft market is considered to be of utmost importance to the efficient running of electric motors, which have become a key component in several industries, such as automotive, industrial machinery, and consumer appliances. Automation and precision engineering are two examples of continuous improvements in manufacturing technology that are vital to streamlining production and driving the growth of the electric motor rotor shaft market. Investments in the manufacturing of electric motors are being driven by government policies that support electric technologies and renewable energy, which is expanding the demand for electric motor rotor shaft. Efficient electric motor rotor shafts are becoming more and more necessary as a result of environmental legislation and technology breakthroughs driving the growing global production of EVs.   

Report Coverage

This research report categorizes the electric motor rotor shaft market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the electric motor rotor shaft market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the electric motor rotor shaft market.

Driving Factors

The growing demand for energy-efficient motors across a range of industries, the drive toward renewable energy sources, and the electrification of industrial processes are all factors driving the growth of the global electric motor rotor shaft market. Technological developments, growing usage in strategic regions, and increased demand from a variety of end-user industries are some of the factors driving the growth of the electric motor rotor shaft market. The global push for electrification and the popularity of electric cars (EVs) are two factors driving the market's growth.

Restraining Factors

A significant limitation is the reliance on rare earth elements for the production of high-performance rotor shafts, particularly for permanent magnet motors, due to their variable costs and restricted worldwide supply.

Market Segmentation

The electric motor rotor shaft market share is classified into type and application.    

• The solid shaft segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the type, the electric motor rotor shaft market is divided into solid shaft, hollow shaft, stepped shaft, and others. Among these, the solid shaft segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Solid shafts are the ideal option for heavy-duty applications such as manufacturing, mining, and transportation due to their durability and affordability.

• The industrial machinery segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the application, the electric motor rotor shaft market is divided into industrial machinery, automotive sector, appliances, and others. Among these, the industrial machinery segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Industrial machinery is powered by electric motors, which are widely used in mining, building, and manufacturing equipment.

Regional Segment Analysis of the Electric Motor Rotor Shaft Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the electric motor rotor shaft market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the electric motor rotor shaft market over the predicted timeframe. The Asia Pacific region's robust industrial base, fast urbanization, and the substantial presence of car manufacturing hubs in nations like China, Japan, and South Korea are the main causes. Furthermore, Asia Pacific is a vital hub for both domestic and export rotor shaft production due to its abundant raw materials and cost-effective manufacturing. The region's dominance is fueled by its leadership in EV manufacturing and acceptance as well as its increasing emphasis on renewable energy.   

Europe is expected to grow at the fastest CAGR growth of the electric motor rotor shaft market during the forecast period. A major player in the global market for electric motor rotor shafts, Europe is distinguished by its sophisticated production techniques and strong focus on sustainability. European nations are leading the way in the use of renewable energy and industrial automation, which is driving up demand for high-performance electric motors and parts like rotor shafts.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the electric motor rotor shaft market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Siemens
• Nidec
• ABB Ltd.
• Parker Hannifin
• General Electric (GE)
• Toshiba Corporation
• Schneider Electric
• Emerson Electric Co.
• Eaton Corporation
• Timken Company
• SKF Group
• Danfoss Group
• Bosch Rexroth AG
• Hitachi Ltd.
• Others  

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In August 2024, Nidec launched a new line of rotor shafts with innovative materials and design improvements meant to increase EV drivetrain efficiency and decrease total vehicle weight.

• In July 2024, Siemens declared the release of a new range of electric motors with improved rotor shaft designs that are intended to increase efficiency and lower energy usage in industrial settings.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the electric motor rotor shaft market based on the below-mentioned segments: 

Global Electric Motor Rotor Shaft Market, By Type

• Solid Shaft
• Hollow Shaft
• Stepped Shaft
• Others

Global Electric Motor Rotor Shaft Market, By Application

• Industrial Machinery
• Automotive Sector
• Appliances
• Others

Global Electric Motor Rotor Shaft Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa