The Electric Motor And Generator by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electric Motor And Generator, The electric motor and generator market size has grown steadily in recent years. It will grow from $132.9 billion in 2023 to $138.72 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in demand for household appliances, growth in industrial sector, and rise in disposable income.
The electric motor and generator market size is expected to see steady growth in the next few years. It will grow to $161.02 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to rising demand for electric vehicles, rising demand for energy, rising infrastructure development, and rapid urbanization. Major trends in the forecast period include development of high-power density electric motors, sustainable generators, hybridization of power generators, integration of iot and smart technology product innovations and strategic partnerships and collaborations.
Increasing use of household appliances is expected to contribute to the growth of the motor and generator manufacturing market in the forecast period. Increasing electrification, rising disposable income, and rapid urbanization, along with several other factors, are boosting the demand for household appliances, which in turn will drive the market for motors. For instance, the global household appliance manufacturing market is expected to reach $396.8 billion in 2022 at a CAGR of 8.7%. The growing demand for household appliances that function with a motor will thereby drive the market for motors and generators in the forecast period.
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The electric motor and generator market covered in this report is segmented –
1) By Type: Electric Motors, Electric Generators
2) By Application: Industrial Machinery, Automobile (Motor Vehicle), HVAC (Heating, Ventilation, And Air Conditioning), Other Applications
3) By End User: Industrial, Residential, Commercial
Generator manufacturing companies are increasingly manufacturing portable generators. A portable generator provides electricity by running a gas-powered or diesel-powered engine that turns an onboard alternator to generate electrical power. Rising demand for uninterrupted and reliable power supply is increasing the demand for portable generators as they offer advantages such as flexibility and ease of use.
The electric motor and generator market report table of contents includes:
1. Executive Summary
2. Electric Motor And Generator Market Characteristics
3. Electric Motor And Generator Market Trends And Strategies
4. Electric Motor And Generator Market – Macro Economic Scenario
5. Global Electric Motor And Generator Market Size and Growth
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26. South America Electric Motor And Generator Market
27. Brazil Electric Motor And Generator Market
28. Middle East Electric Motor And Generator Market
29. Africa Electric Motor And Generator Market
30. Electric Motor And Generator Market Competitive Landscape And Company Profiles
Top Major Players:
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