Electric Motor and Generator Market Report 2025

The electric motor and generator market size has grown steadily in recent years. It will grow from $131.75 billion in 2024 to $137.81 billion in 2025 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in demand for household appliances, growth in industrial sector, and rise in disposable income.

The electric motor and generator market size is expected to see steady growth in the next few years. It will grow to $159.83 billion in 2029 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to rising demand for electric vehicles, rising demand for energy, rising infrastructure development, and rapid urbanization. Major trends in the forecast period include development of high-power density electric motors, sustainable generators, hybridization of power generators, integration of IoT and smart technology product innovations and strategic partnerships and collaborations.

The anticipated growth in the motor and generator manufacturing market during the forecast period is expected to be fueled by the increasing use of household appliances. Factors such as growing electrification, rising disposable income, and rapid urbanization are driving the demand for household appliances, consequently boosting the market for motors. For instance, the global household appliance manufacturing market is projected to reach $396.8 billion in 2022 at a CAGR of 8.7%. The increasing demand for household appliances that rely on motors will, in turn, contribute to the growth of the motor and generator manufacturing market in the forecast period.

Increased tariffs on raw materials like steel and aluminum have constrained the motor and generator manufacturing market during the historical period. Steel and aluminum are essential for producing components for motors. Rising import tariffs on these raw materials have negatively impacted the market for household fans. For example, in March 2023, the United States International Trade Commission, a U.S.-based government agency, reported that Section 232 tariffs resulted in a 24% decline in imports of affected steel products and a 2.4% increase in steel prices in the United States in 2022. Likewise, imports of affected aluminum products dropped by 31%, while aluminum prices increased by 1.6% in the U.S. market. Consequently, higher tariffs are expected to raise operating expenses, further restraining the growth of the electric motor and generator market.

Generator manufacturing companies are increasingly venturing into the production of portable generators. Portable generators operate by utilizing a gas-powered or diesel-powered engine that drives an onboard alternator to generate electrical power. The growing demand for a continuous and reliable power supply is fueling the popularity of portable generators due to their inherent advantages, including flexibility and user-friendly operation.

Major companies within the electric motor and generator market are dedicating efforts to product innovation, exemplified by offerings such as the EW8.X-230 wind turbine generator, to cater to the evolving needs of customers. The EW8.X-230 wind turbine generator serves as an electric generator specifically designed for offshore wind farms. In June 2022, Shanghai Electric Wind Power Group Co., Ltd., a China-based wind turbine manufacturer, introduced its inaugural EW8.X-230 wind turbine generator. Featuring semi-direct drive chain technology and equipped with 100-meter blades, the EW8.X-230 is tailored to perform efficiently in medium-low wind speeds typically encountered just above the sea surface off the Chinese coastline, addressing the diverse stresses influenced by wind direction.

In September 2023, WEG Industries, a Brazil-based company specializing in electric-electronic equipment, acquired the electric motors and generators business of Regal Rexnord Corporation for $400 million. This acquisition positions WEG Group to enhance its strategy for sustainable growth, international expansion, and diversification within its industrial operations. By integrating well-established brands and a complementary product line, this move will bolster the company's presence in the industrial electric motors and generators markets. Regal Rexnord Corporation is a U.S.-based manufacturer of electric motors and generators.

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.

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. The countries covered in the electric motor and generator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Electric motors are machines that convert electrical energy into mechanical energy, while electric generators are devices that transform mechanical energy into electrical energy.

The primary categories within electric motor and generator manufacturing encompass the production of motors and generators designed for various applications, including vehicles. These motors and generators find applications in diverse sectors such as automobiles, maritime, power generation, and industrial uses. Their utilization extends across the industrial, commercial, and residential domains. Various types of power generation methods include thermal, hydro, nuclear, wind, and other forms of power generation.

The electric motor and generator market research report is one of a series of new reports that provides electric motor and generator market statistics, including electric motor and generator industry global market size, regional shares, competitors with an electric motor and generator market share, detailed electric motor and generator market segments, market trends and opportunities, and any further data you may need to thrive in the electric motor and generator industry. This electric motor and generator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The electric motor and generator market consist of sales of series motors, shunt motors, compound motors, synchronous motors, induction motors, linear motors and adjustable speed motors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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