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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Europe Electric Motor, Drives, Alternators Repair and Maintenance Market Size
The Europe electric motor, drives, alternators repair and maintenance market is projected to grow at a CAGR of 1.5% between 2024 and 2032.
Europe Electric Motor, Drives, Alternators Repair and Maintenance Market Outlook
- Increasing adoption of predictive maintenance efforts across the region is supporting the market growth.
- The demand for repair and maintenance services is increasing to improve efficiency, as they play a key role in saving energy, particularly in pump and fan applications.
- Europe has the presence of 8 billion electric motors across various industries, including mining and mineral processing.
Europe Electric Motor, Drives, Alternators Repair and Maintenance Market Growth
The rising advancements in the automation sector in the region are changing the methods of repair and maintenance of motors, drives and alternators, which includes the type of specialist equipment and skills needed. Motor repair and maintenance services are anticipated to increase over the years due to the incorporation of intricate machinery. Regular preventive maintenance works are being adopted across various sectors to lower the risk of unexpected breakdowns and contribute to energy savings and lowered operational costs.
Electric motors play a significant role in mining, mineral processing, and several other sectors. Due to their important functions, electric motors are required to be properly designed, manufactured, and maintained for improved durability and longevity. The expansion of the EV sector across Europe is contributing to a greater demand for electric motors. In 2022, in the EU-27, about 56,500 electric vans were sold representing an increase of about 2.0% points from 2020.
Europe is transitioning towards electrification of its industries, with its target of achieving net zero by 2050. Electric motors drives and alternators play a major role in the transition, increasing the importance of repair and maintenance for improved performance. As of May 2024, in the UK, there are more than 1,110,000 fully electric cars. The increasing adoption of electric cars is favouring the market growth.
Europe Electric Motor, Drives, Alternators Repair and Maintenance Industry Segmentation
Europe Electric Motor, Drives, Alternators Repair and Maintenance Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Electric Motor
- AC Electric Motor
- DC Electric Motor
- Drives
- DC Motor Drives
- Eddy Current Drives
- AC Motor Drives
- Alternators
- Automotive Alternators
- Diesel-Electric Locomotive Alternators
- Marine Alternators
- Radio Alternators
Market Breakup by Country
- United Kingdom
- Electric Motor
- Drives
- Alternators
- Germany
- Electric Motor
- Drives
- Alternators
- France
- Electric Motor
- Drives
- Alternators
- Italy
- Electric Motor
- Drives
- Alternators
- Norway
- Electric Motor
- Drives
- Alternators
- Sweden
- Electric Motor
- Drives
- Alternators
- Denmark
- Electric Motor
- Drives
- Alternators
- Finland
- Electric Motor
- Drives
- Alternators
- Estonia
- Electric Motor
- Drives
- Alternators
- Latvia
- Electric Motor
- Drives
- Alternators
- Lithuania
- Electric Motor
- Drives
- Alternators
- Rest of Europe
Europe Electric Motor, Drives, Alternators Repair and Maintenance Market Share
Based on country, the market is divided into the United Kingdom, Germany, France, Italy, Norway, Sweden, Denmark, Finland, Estonia, Latvia, Lithuania, and the rest of Europe. Germany is expected to witness increased demand for motor, drives, alternator repair and maintenance. This is supported by the rapid growth of the EV sector, robust manufacturing sectors, and advanced technological capabilities.
Leading Companies in the Europe Electric Motor, Drives, Alternators Repair and Maintenance Market
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and product launches.
- ABB Ltd
- Siemens
- Regal Rexnord Corporation
- TECO-Westinghouse
- Houghton International
- Antriebstechnik Radike GmbH
- Fischer Elektromotoren
- Rotamec Engineering Solutions
- BEVI AB
- Jernbro
- SIA Rinas Baltic
- KSB Finland Oy
- Others
The market participants are expanding their service portfolios and offering customisation services for different types of motors, drives and alternators.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*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
The market is estimated to grow at a CAGR of 1.5% between 2024 and 2032.
The growing adoption of EVs, electrification of industries, and decarbonisation initiatives are the key market trends.
The different drive types include DC motor drives, eddy current drives, and AC motor drives.
The market is being driven by increasing predictive maintenance activities, rising technological advancements, and expansion of end-use sectors.
The types include AC electric motor and DC electric motor.
The types of alternators include automotive alternators, diesel-electric locomotive alternators, marine alternators, and radio alternators.
Based on country, the market is divided into the United Kingdom, Germany, France, Italy, Norway, Sweden, Denmark, Finland, Estonia, Latvia, Lithuania, and the rest of Europe.
The major players in the market are ABB Ltd, Siemens, Regal Rexnord Corporation, TECO-Westinghouse, Houghton International, Antriebstechnik Radike GmbH, Fischer Elektromotoren, Rotamec Engineering Solutions, BEVI AB, Jernbro, SIA Rinas Baltic, and KSB Finland Oy, among others.
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