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Rising Demand For Portable Generators In The Electric Motor And Generator Market Industry Trends Gaining Momentum in the Global Electric Motor And Generator Market
Electric Motor And Generator Market
What Is the Expected CAGR for the Electric Motor And Generator Market Through 2025?
In recent times, the market size of electric motors and generators has experienced a steady expansion. The market is projected to ascend from a worth of $131.75 billion in 2024 to an estimated $137.81 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 4.6%. Factors contributing to the historical growth include robust economic expansion in developing markets, heightened demand for domestic appliances, industrial sector growth, and an increase in disposable income.
What's the Projected Size of the Global Electric Motor And Generator Market by 2029?
Anticipations are positive for the electric motor and generator market, with a steady expansion expected in the coming years. By 2029, the market size is predicted to touch $159.83 billion, growing at a compound annual growth rate (CAGR) of 3.8%. The driving factors for this growth during the forecast period include an increased demand for electric cars, a surge in energy needs, development in infrastructure, and swift urbanization. Upcoming trends during the forecast period are high-power density electric motors, environmentally-friendly generators, power generator hybridization, integration of IoT and smart technology, innovative products and strategic alliances and collaborations.
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Top Growth Drivers in the Electric Motor And Generator Industry: What's Accelerating the Market?
The motor and generator manufacturing market is anticipated to grow in the future, due to the escalating use of household appliances. This increase is attributed to various factors, including a surge in electrification, higher disposable income levels, and swift urbanization. These variables contribute to the growing need for household appliances, indirectly propelling the motors market. For instance, the worldwide household appliance manufacturing market is projected to hit $396.8 billion in 2022, expanding at an 8.7% CAGR. Therefore, the rising demand for household appliances equipped with a motor will spur the motors and generators market in the forecast period.
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What Trends Will Shape the Electric Motor And Generator Market Through 2029 and Beyond?
Companies that manufacture generators are progressively producing more portable generators. These portable generators, which work by using a gas or diesel engine to drive an internal alternator, create electrical power. The growing need for a constant and trustworthy power source is driving up demand for portable generators due to their benefits like versatility and simplicity of operation.
What Are the Main Segments in the Electric Motor And Generator Market?
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 Top Companies are Driving Growth in the Electric Motor And Generator Market?
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
Which Regions Will Dominate the Electric Motor And Generator Market Through 2029?
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
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