Press release
Electric Motor And Generator Market Set to Reach $159.83 Billion by 2029 with 3.8% Yearly Growth
Electric Motor And Generator
The expected surge in household appliances utilization is predicted to stimulate the advancement of the motor and generator manufacturing market during the forecast duration. Factors such as growing electrification, increasing disposable income, accelerated urbanization, along with numerous other considerations, are driving the demand for household appliances. This will consequently propel the market for motors. For example, the worldwide market for household appliance manufacturing is anticipated to acquire $396.8 billion in 2022, expanding at a CAGR of 8.7%. The escalating demand for household appliances powered by a motor will, therefore, facilitate the growth of the motors and generators market during the forecast timeframe.
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How will the growth rate of the electric motor and generator market shape industry trends by 2034?
In previous years, the market size for electric motors and generators has consistently expanded. Its growth is forecast to continue from $131.75 billion in 2024 to $137.81 billion in 2025, with a compound annual growth rate (CAGR) of 4.6%. The expansion during the historical period can be linked to the robust economic development in the budding markets, surge in the demand for domestic appliances, expansion in the industrial sector, and an increase in disposable income.
The market size for electric motors and generators is predicted to experience consistent expansion in the coming years, increasing to a value of $159.83 billion in 2029 with a compound annual growth rate (CAGR) of 3.8%. This growth through the forecast period can be credited to the growing need for electric vehicles, an increase in energy demand, the escalation in infrastructure development, and swift urbanization. Major trends during this forecast period are anticipated to include the creation of high-power density electric motors, eco-friendly generators, the hybridization of power generators, the incorporation of IoT and intelligent technology product innovations, along with strategic partnerships and collaborations.
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What trends are poised to drive the future success of the electric motor and generator market?
Companies that manufacture generators are progressively shifting towards producing portable generators. Portable generators can bring power through using a gas or diesel engine to operate an inbuilt alternator and generate electricity. The appetite for a constant and dependable power source is fueling the need for portable generators due to their benefits such as adaptability and user-friendliness.
Which primary segments of the electric motor and generator market are driving growth and industry transformations?
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
Subsegments:
1) By Electric Motors: AC Motors, DC Motors, Stepper Motors, Servo Motors
2) By Electric Generators: Alternators, Inverter Generators, Portable Generators, Standby Generators
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Which geographical regions are pioneering growth in the electric motor and generator market?
Asia-Pacific was the largest region in the electric motor and generator market in 2024. The regions covered in the electric motor and generator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the electric motor and generator market landscape?
Major companies operating in the electric motor and generator market include 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, Leroy-Somer Electric Motors & Generators, SEW-EURODRIVE GmbH & Co KG, WHITE GUARDS TRADING HOUSE CJSC, MAN Energy Solutions, Aksa, Agar-Power Agregaty Pr?dotwórcze, Agregaty Mielec, Amin Power Energy, Dayer, Inc, Cummins, HiPower Systems, Taylor Power Systems Inc, Multiquip, Wacker Neuson, Atlas Copco, Industrias Jezi, CGE Group, EME Electric Motors, Motores Diesel Andinos S.A., Saudi Transformers Company Ltd., Saudi Arabian Electric Motors Manufacturing Company (SAEMMC), ACTOM (Pty) Ltd., Powertech Africa, MarelliMotori SA
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What Is Covered In The Electric Motor And Generator Global Market Report?
• Market Size Forecast: Examine the electric motor and generator market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the electric motor and generator market for a structured understanding.
• Key Players Overview: Analyze major players in the electric motor and generator market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electric motor and generator market.
• Segment Contributions: Evaluate how different segments drive overall growth in the electric motor and generator market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electric motor and generator market.
• Industry Challenges: Identify potential risks and obstacles affecting the electric motor and generator market.
• Competitive Landscape: Review strategic developments in the electric motor and generator market, including expansions, agreements, and new product launches.
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