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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Electric Motors and Generators Market Growth
The advent of Industry 4.0 is driving the market for electric motors and generators. As uninterrupted power supply is crucial in smart factories deploying Industry 4.0, the growing demand for generators to future-proof electric supply is adding to the growth of the market. The increasing preference for smart generators that can efficiently fulfil the power requirements of a manufacturing plant, especially in regions prone to power outages, is significantly contributing to the market expansion. Moreover, the development of innovative electric generators that can predict power requirements while operating silently to boost cost-effectiveness and comfortability is anticipated to provide further impetus to the growth of the market in the forecast period.
Electric Motors and Generators Market Report Snapshots
Electric Motors and Generators Market Size
Electric Motors and Generators Market Growth
Electric Motors and Generators Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2021, the global electric motors and generators market attained a value of nearly USD 169.5 billion.
The market is projected to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 233.7 billion by 2027.
The market is being aided by the rising use of electric motors as a sustainable alternative to gas burning, the increasing cost-effectiveness of electric motors, and the growing use of natural resources for power generation of electric generators.
The industry is projected to be propelled by the advent of Industry 4.0, technological advancements, and the rising demand for AI-enabled electric motors.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of electric motors and generators in the industry are AC motors and DC motors.
The significant applications of electric motors are industrial, commercial and residential, and e-mobility, among others.
The different power generations of electric generators are thermal, hydro, nuclear, and wind, among others.
The major players in the industry are ABB Ltd, Robert Bosch GmbH, Siemens AG, General Electric, Rockwell Automation, Inc., Nidec Corporation, Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries, Ltd., and Atlas Copco, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124