Press release
Electric Motor and Generator Market: Size, Growth, and Key Players
Electric Motor And Generator Market Share
What Is The Projected Market Size Of The Global Electric Motor And Generator Market And Its Growth Rate?
•The electric motor and generator market size is projected to grow from $131.75 billion in 2024 to $137.81 billion in 2025 at a compound annual growth rate (CAGR) of 4.6%.
•The market's growth in the historic period can be attributed to strong economic growth in emerging markets, a rise in disposable income, increasing demand for household appliances, and expanding industrial sectors.
•The electric motor and generator market size is expected to further surge to $159.83 billion in 2029 at a CAGR of 3.8%.
What Is Driving The Growth In The Electric Motor And Generator Market?
The increasing use of household appliances is expected to contribute significantly to the growth of the electric motor and generator manufacturing market in the forecast period. Rising electrification, along with increased disposable income and rapid urbanization, are spurring the demand for household appliances. This, in turn, drives the market for motors. For example, it's estimated that the household appliance manufacturing market will reach $396.8 billion in 2022 at a CAGR of 8.7%. The growing demand for household appliances that work with a motor will drive the market for motors and generators in the forecast period.
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Who Are the Key Players Driving Electric Motor And Generator Market Growth?
•Caterpillar Inc
•Nidec Corporation
•Siemens AG
•ABB Ltd
•General Electric Company
•Robert Bosch Gmbh
•Hitachi Ltd
•WEG
•Generac Holdings Inc
•Kohler Co
•The Kirloskar group
•Mitsubishi Electric Corporation
•TECO Electric & Machinery Co., Ltd
•Toshiba
•Schneider Electric
What Are The Key Trends In The Electric Motor And Generator Market?
•Development of high-power density electric motors
•Sustainable generators
•Hybridization of power generators
•Integration of IoT and smart technology
•Product innovations
•Strategic partnerships and collaborations
What Are The Segments Of The Global Electric Motor And Generator Market?
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
Which Region Leads The Electric Motor And Generator Market?
Asia-Pacific was the largest region in the electric motor and generator market in 2024. The areas covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Electric Motor And Generator Market Global Market Report?
- Market Size Analysis: Analyze the Electric Motor And Generator Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Motor And Generator Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Motor And Generator Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Motor And Generator Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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