As of 2023, the import of electric motors of an output not exceeding 37.5 watts to the US reached approximately 2.68 billion USD. Forecast data indicates a steady growth trend, with values projected to rise incrementally from 2024 to 2028. The estimated year-on-year growth rates reveal an average increase of around 2.9% per year, projecting a compound annual growth rate (CAGR) over the forecast period at around the same rate.
Future trends to watch for include:
- Technological advancements leading to more efficient and cost-effective electric motors driving import demand.
- Potential shifts in manufacturing policies or trade agreements could impact import dynamics.
- Emerging applications and increased integration of electric motors in electric vehicles and renewable energy sectors may spur heightened import needs.