Market Forecast By Motor Type (Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor), By Voltage Range (9 V & Below, 10-20 V, 21-60 V, 60 V & Above), By Application (Industrial machinery, Motor vehicles, Heating, ventilating, and cooling (HVAC) equipment, Aerospace & transportation, Household appliances, Other), By Speed (RPM) (Low-Speed Electric Motors (Less Than 1,000 RPM), Medium-Speed Electric Motors (1,001-25,000 RPM), High-Speed Electric Motors (25,001-75,000 RPM), Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM)) And Competitive Landscape
Product Code: ETC041104 | Publication Date: Dec 2023 | Updated Date: Sep 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
According to 6Wresearch internal database and industry insights, the South Korea Electric Motor Market is projected to rise at a compound annual growth rate (CAGR) of 7.1% during the forecast period 2025-2031.
Report Name | South Korea Electric Motor Market |
Forecast Period | 2025-2031 |
CAGR | 7.1% |
Growing Sector | Automotive & Renewable Energy |
The South Korea Electric Motor Market report thoroughly covers the market by motor type, by output power, by voltage, by application, and by speed (RPM). The market report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high growth areas, and market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
South Korea Electric Motor Market is expanding dynamically throughout the years with industrial modernization, dominance in global automotive exports, and rapid deployment of renewable energy projects. Electric motors are extensively used in robotics, EVs, offshore wind projects, and precision manufacturing, making them an indispensable element in industrial economy. The shift is rising towards green mobility and energy-efficient infrastructure is further boosting adoption across sectors.
Below mentioned some major drivers and their impacts on the market:
Driver | Primary Segments Affected | Why it Matters |
Smart Factory Automation | Industrial machinery, Household appliances | Precision robotics and AI-driven manufacturing lines require compact, high-efficiency motors. |
Automotive Electrification | Motor vehicles, Aerospace & transport | South Korea is a global leader in EV exports, driving demand for advanced traction motors. |
Renewable & Offshore Wind | Utilities, Industrial machinery | Offshore wind farms in Jeju and Ulsan use heavy-duty, high-voltage motors for turbines and auxiliary systems. |
Semiconductor & Electronics | Industrial machinery | Cleanroom-grade motors power fabrication equipment, critical for South Korea’s semiconductor exports. |
Urban HVAC & Smart Homes | HVAC equipment, Household appliances | Growing adoption of energy-efficient air conditioners and home appliances increases demand for IE3 motors. |
South Korea Electric Motor Market size is anticipated to grow at a CAGR of 7.1% during the forecast period 2025-2031. Growth of market is supported by several factors such as global demand for South Korean EVs, expansion of offshore wind, and large-scale smart factory investments. The focus of government is emphasizing on industrial digitalization, efficiency standards, and renewable adoption will continue to accelerate the motor deployment across multiple segments.
Below mentioned some restraints and their influence on the market:
Restraint | Primary Segments Affected | What this Means |
High R&D Costs | Industrial machinery, EV motors | Advanced motor designs for EVs and robotics increase development costs. |
Intense Global Competition | Automotive, Appliances | Chinese and Japanese motor manufacturers create pricing pressure for domestic firms. |
Energy Price Volatility | Utilities | Electricity-intensive industries face rising operational costs affecting large-scale motor deployment. |
Workforce Aging | Industrial machinery, Utilities | Skilled technicians are retiring, creating gaps in automation expertise. |
Supply Chain Dependency | Automotive & electronics | Reliance on imported raw materials like rare earths delays production and raises costs. |
There are numbers of challenges are affecting the South Korea Electric Motor Market which include the rising costs of raw materials, dependency on imports of rare earths for high-performance motors, and the need for localized R&D in next-generation drives. Collectively, all these challenges are affecting the sustained growth. While South Korea excels in EV and robotics, SMEs face difficulties adopting premium motors due to price sensitivity. Further, offshore wind and semiconductor industries require motors with extremely high precision and durability, raising technological and cost barriers.
There are numbers of strong trends contributing in the South Korea Electric Motor Market Growth:
Some potential investment opportunities in the South Korea Electric Motor Industry include:
There are some leading players in the South Korea Electric Motor Market:
Company Name | Hyundai Electric |
Established Year | 1977 |
Headquarters | Seoul, South Korea |
Official Website | Click Here |
This company supplies large industrial motors, drives, and power solutions, widely deployed in offshore wind, utilities, and industrial machinery.
Company Name | LG Innotek |
Established Year | 1970 |
Headquarters | Seoul, South Korea |
Official Website | Click Here |
This company specializes in compact motors for appliances, EV components, and high-efficiency systems integrated with IoT.
Company Name | Hyosung Heavy Industries |
Established Year | 1962 |
Headquarters | Seoul, South Korea |
Official Website | Click Here |
This company provides large-scale high-voltage motors, gear motors, and advanced industrial drives, especially for renewable energy projects.
Company Name | Nidec Corporation |
Established Year | 1973 |
Headquarters | Kyoto, Japan |
Official Website | Click Here |
This company supplies micro-motors and precision drives used in electronics, EVs, and semiconductors, with extensive operations in South Korea.
Company Name | Siemens Korea |
Established Year | 1989 |
Headquarters | Munich, Germany |
Official Website | Click Here |
This company Provides automation platforms and medium-voltage motors widely used in south Korean smart factories and utilities.
According to South Korean Government Data, under several initiatives such as Korean Green New Deal, the government enforces strict efficiency standards for motors used in EVs, HVAC, and industrial facilities. Incentives are issued that provided for IE3/IE4 adoption, while industrial retrofits are subsidized to reduce emissions. Initiatives such as under “K-Industrial Policy” are promoting efficiency upgrades and smart manufacturing. Offshore wind tenders mandate lifecycle cost evaluation, encouraging use of premium motors. Further, “K-Energy Codes” require smart monitoring and VFD integration for industrial-scale motor installations.
The future of South Korea Electric Motor Market is expected for limited growth with the EV revolution, offshore wind development, and advanced manufacturing. In the upcoming years, traction motors, high-voltage industrial motors, and precision semiconductor-grade motors will dominate demand. Apart from this, rapid urbanization, high-efficiency HVAC renewal. Further, strong R&D ecosystem and global OEM partnerships will strengthen the local production and export capability.
According to Vasu, Senior Research Analyst, 6Wresearch, high-voltage motors (60 V & above) will dominate the market mainly due to their necessity in offshore wind farms, industrial machinery, and utility-scale pumping systems. And, lower voltage categories remain relevant for electronics and appliances but contribute less to overall market share.
Motor vehicles, particularly EVs, are expected to capture the largest South Korea Electric Motor Market Share due to global leadership in electric vehicle exports. Industrial machinery and HVAC will remain strong contributors, but traction motors for EVs represent the highest growth potential.
Medium-speed motors dominate market of South Africa due to their widespread application in EVs, compressors, pumps, and HVAC systems. Their balance of energy efficiency, performance, and cost-effectiveness ensures their preference across industries.
AC motors are expected to dominate South Korea’s market due to their extensive use in offshore wind turbines, EV manufacturing, and HVAC systems. Their compatibility with VFDs and high durability make them the preferred choice in large-scale industrial and renewable projects compared to DC and hermetic motors.
The report offers a comprehensive study of the subsequent market segments:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of The Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. South Korea Electric Motor Market Overview |
3.1. South Korea Country Indicators |
3.2. South Korea Electric Motor Market Revenues, 2021-2031F |
3.3. South Korea Electric Motor Market Revenue Share, By Voltage, 2021 & 2031F |
3.4. South Korea Electric Motor Market Revenue Share, By Types, 2021 & 2031F |
3.5. South Korea Electric Motor Market Revenue Share, By Applications, 2021 & 2031F |
3.6. South Korea Electric Motor Market Revenue Share, By End-Users, 2021 & 2031F |
3.7. South Korea Electric Motor Market - Industry Life Cycle |
3.8. South Korea Electric Motor Market - Porter’s Five Forces |
4. South Korea Electric Motor Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.2.1 Government initiatives promoting the adoption of electric vehicles and renewable energy sources. |
4.2.2 Increasing industrial automation and digitization leading to higher demand for electric motors. |
4.2.3 Technological advancements in electric motor efficiency and performance. |
4.3. Market Restraints |
4.3.1 High initial investment costs associated with electric motors. |
4.3.2 Limited availability of rare earth materials used in electric motor production. |
4.3.3 Competition from traditional internal combustion engines in certain applications. |
5. South Korea Electric Motor Market Trends |
6. South Korea Electric Motor Market Overview, By Voltage |
6.1. South Korea Low Voltage Electric Motor Market Revenues, 2021-2031F |
6.2. South Korea Medium Voltage Electric Motor Market Revenues, 2021-2031F |
6.3. South Korea High Voltage Electric Motor Market Revenues, 2021-2031F |
7. South Korea Electric Motor Market Overview, By Types |
7.1. South Korea Electric Motor Market Revenues, By AC Type, 2021-2031F |
7.2. South Korea Electric Motor Market Revenues, By DC Type, 2021-2031F |
8. South Korea Electric Motor Market Overview, By Applications |
8.1. South Korea Electric Motor Market Revenues, By Pump Application, 2021-2031F |
8.2. South Korea Electric Motor Market Revenues, By Fan Application, 2021-2031F |
8.3. South Korea Electric Motor Market Revenues, By Conveyor Application, 2021-2031F |
8.4. South Korea Electric Motor Market Revenues, By Compressors Application, 2021-2031F |
8.5. South Korea Electric Motor Market Revenues, By Other Applications, 2021-2031F |
9. South Korea Electric Motor Market Overview, By End-Users |
9.1. South Korea Electric Motor Market Revenues, By Industrial Processing, 2021-2031F |
9.2. South Korea Electric Motor Market Revenues, By Commercial HVAC, 2021-2031F |
9.3. South Korea Electric Motor Market Revenues, By Automotive, 2021-2031F |
9.4. South Korea Electric Motor Market Revenues, By Consumer Appliances, 2021-2031F |
9.5. South Korea Electric Motor Market Revenues, By Power Generation, 2021-2031F |
9.6. South Korea Electric Motor Market Revenues, By Others, 2021-2031F |
10. South Korea Electric Motor Market - Key Performance Indicators |
10.1 Average energy efficiency improvement of electric motors in the market. |
10.2 Adoption rate of electric vehicles and renewable energy sources in South Korea. |
10.3 Number of new industrial automation projects utilizing electric motors. |
11. South Korea Electric Motor Market - Opportunity Assessment |
11.1. South Korea Electric Motor Market Opportunity Assessment, By Types, 2031F |
11.2. South Korea Electric Motor Market Opportunity Assessment, By Applications, 2031F |
12. South Korea Electric Motor Market Competitive Landscape |
12.1. South Korea Electric Motor Market Revenue Share, By Companies, 2024 |
12.2. South Korea Electric Motor Market Competitive Benchmarking, By Operating & Technical Parameters |
13. Company Profiles |
14. Key Recommendations |
15. Disclaimer |
Market Forecast By Motor Type (Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor), By Voltage Range (9 V & Below, 10-20 V, 21-60 V, 60 V & Above), By Application (Industrial machinery, Motor vehicles, Heating, ventilating, and cooling (HVAC) equipment, Aerospace & transportation, Household appliances, Other), By Speed (RPM) (Low-Speed Electric Motors (Less Than 1,000 RPM), Medium-Speed Electric Motors (1,001-25,000 RPM), High-Speed Electric Motors (25,001-75,000 RPM), Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM)) And Competitive Landscape
Product Code: ETC041104 | Publication Date: Jan 2021 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
South Korea Electric Motor Market is projected to grow over the coming year. South Korea Electric Motor Market report is a part of our periodical regional publication Asia Pacific Electric Motor Market outlook report. 6W tracks electric motor market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Electric Motor Market outlook report annually.
South Korea Electric Motor Market report thoroughly covers market by motor type, speed, voltage and application. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
South Korea Electric Motor Market Synopsis
South Korea Electric Motor Market is likely to gain momentum during the forecast period owing to the increasing penetration towards environment concern. Increasing investment on infrastructure development along with growing construction sector beholds the increasing growth of the electric motor market. The demand for energy efficient motor is further driving the development of the market. The advent of better insulation material is also leading to the growth of the market. Increasing government’s initiative in order to promote the usage of electric vehicle is likely to fuel the growth of the market.
According to 6Wresearch, South Korea Electric Motor Market size is projected to register growth during 2020-2026. High spike in the prices of fuel is driving the growth of electric motor market. Growing demand for electricity backed by rising population trigger the potential growth of the market. Increasing development in agriculture, automotive and industrial sector is propelling the electric motor market. However, the sudden outbreak of COVID-19 has negatively affected the growth of the market backed by nationwide lockdown leading to disruption in supply chain.
Market Analysis by Motor type
On the basis of motor type, AC segment is expected to dominate the market on account of rising consumer preference.
Market Analysis by Speed
On the basis of speed, the high-speed segment accounted the largest share and is expected to dominate during the forecast period as well.
Key Attractiveness of the Report
Key Highlights of the Report:
Market Segmentation:
The report provides a detailed analysis of the following market segments: