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Electric Motor And Generator Market Outlook 2023: Expected Market Growth Rate, Major Driver And Segments | Caterpillar Inc., Nidec Corporation, Siemens AG, ABB Ltd., General Electric Company
Electric Motor And Generator Market
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The global electric motor and generator market reached a value of nearly $126,164.4 million in 2022, having grown at a compound annual growth rate (CAGR) of 3.1% since 2017. The market is expected to grow from $126,164.4 million in 2022 to $152,652.2 million in 2027 at a rate of 3.9%. The market is then expected to grow at a CAGR of 4.1% from 2027 and reach $186,650.2 million in 2032.
An electric motor is a device that converts electrical energy into mechanical energy. It operates on the principle of electromagnetism, which states that when a current-carrying conductor is put in a magnetic field, it is subjected to a force and rotates. Whereas an electric generator, also known as a dynamo, is a device that converts mechanical energy into electrical energy. It operates on the principle of electromagnetic induction, which is the generation of an electromotive force (EMF) by a moving magnetic field around a conductor.
The electric motor and generator market consists of sales, by entities (organizations, sole traders and partnerships), of electric motor and generator products that are used to convert electrical energy into mechanical energy or mechanical energy into electrical energy.
The development of high-power density electric motors to increase power output is emerging as a potential trend in the electric motor and generator market. High-power density refers to the ability of an electric motor to generate a higher power output in relation to its size and weight. High-power-density motors are high-torque, low-speed motors that are lightweight, have large amounts of torque, and have lower cogging torque. Companies operating in the electric motor and generator market are focusing on the development of high-power-density electric motors.
Electric Motor And Generator Market Segmentation:
• By Type - Electric Motors, Electric Generators
• By End User - Industrial, Commercial, Residential
• By Application - Industrial Machinery, Automobile (Motor Vehicle), HVAC, Other Applications
Some of the key players involved in the Electric Motor And Generator market are Caterpillar Inc., Nidec Corporation, Siemens AG, ABB Ltd., General Electric Company
The regions covered in the global Electric Motor And Generator market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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A Few Points From The Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
……
18. Competitive Landscape And Company Profiles
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Electric Motor And Generator Market, Conclusions And Recommendations
23. Appendix
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