Electric Motor And Generator Global Market Report 2023 – By Type (Motor Manufacturing, Generator Manufacturing), By End User (Industrial, Commercial, Residential), By Application (Automobile, Maritime, Power Generation) – Market Size, Trends, And Global Forecast 2023-2032

Power generation equipment is defined as electrical machinery apparatus used in the generation of electric power. Power transmission equipment helps to transfer energy from its source to a location where it can be used for any activity. Power control equipment is defined as devices that restrict or regulate steady-state currents. The main types of power generation, transmission and control equipment are transformer, electric motor and generator, switchgear and switchboard apparatus, relay, and industrial controls. A transformer is a device that converts electric energy from one alternating-current circuit to one or more other circuits by increasing (stepping up) or decreasing (stepping down) the voltage. The equipment is used for residential, commercial, automotive, and other applications by private and public end-use sectors. The global power generation, transmission and control equipment market is segmented - 1) By Type: Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls 2) By Application: Residential, Commercial, Automotive, Other Applications 3) By End User Sector: Private, Public Subsegments Covered: Low Power Transformers (100 MVA to 500 MVA), Medium Power Transformers (501 MVA to 800 MVA), High Power Transformers (801 MVA to 1200 MVA), Electric Motors, Electric Generators, Switchboard, Switchgear, Relays, Industrial Controls The global power generation, transmission and control equipment market size grew from $516.88 billion in 2022 to $551.95 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The power generation, transmission and control equipment market is expected to grow to $691.37 billion in 2027 at a CAGR of 5.8%. The relay and industrial control industry is increasingly adopting SCADA (Supervisory control and data acquisition) systems to enhance process efficiency and productivity. SCADA systems are used to remotely control industrial processes such as power generation, fabrication, and refining through coded signals over cloud channels. The applications of these SCADA systems are expected to rise mainly due to their scalability, ease of upgrading, the emergence of global smart grid projects, and increased use of cloud technologies. The market is also benefitting from the high demand for energy and renewable resource projects. The SCADA systems market grew at a CAGR of 7.2% in 2020. Major companies in the power generation, transmission and control equipment market include Siemens AG, Schneider Electric SE, ABB Ltd., Nidec Corp, General Electric Company, Mitsubishi Electric Corp, Amphenol Corp, Legrand S.A., Toshiba Corporation and Hanwha. Asia-Pacific was the largest region in the power generation, transmission and control equipment market in 2022. Western Europe was the second largest region in the power generation, transmission and control equipment market. The regions covered in the power generation, transmission and control equipment market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the power generation, transmission and control equipment market share are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The power generation, transmission and control equipment market consists of sales of low-power transformers, medium-power transformers, high-power transformers, electric motors, electric generators, switchboards, switchgear, relays, industrial controls, and other power generation, transmission and control equipment . 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 power generation, transmission and control equipment 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. The power generation, transmission and control equipment market research report is one of a series of new reports from The Business Research Company that provides power generation, transmission and control equipment market statistics, including power generation, transmission and control equipment industry global market size, regional shares, competitors with a power generation, transmission and control equipment market share, detailed power generation, transmission and control equipment market segments, market trends and opportunities, and any further data you may need to thrive in the power generation, transmission and control equipment industry. This power generation, transmission and control equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric motor is defined as an electric machine that converts electrical energy into mechanical energy and supplies power to the devices. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance. The main types of electric motors are alternate current (AC) motor, direct current (DC) motor, and hermetic motor. A hermetic motor contains both the compressor and the motor within a single outer welded steel shell. The motor and compressor are connected directly on the same shaft, with the motor located within the refrigeration circuit. As a result, the need for a shaft seal and the resulting refrigerant leakage problem was eliminated. Welding or brazing is used to connect all refrigerant pipelines to the outer steel shell. The voltage of an electric motor ranges from 9v and below, 10-20 v, 21-60 v, 60 v, and above, and various output power are integral horsepower (IHP) and fractional horsepower (FHP). The different speeds of the electric motor are low-speed (less than 1,000 rpm), medium-speed (1,001 to 25,000 rpm), high-speed (25,001 to 75,000 rpm), ultra-high-speed (greater than 75,001 rpm) that are used for industrial machinery, motor vehicle, HVAC equipment, aerospace and transportation, household appliances, other commercial applications. The global electric motors market is segmented – 1) By Type: Alternate Current (AC) Motor, Direct Current (AC) Motor, Hermetic Motor 2) By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP) 3) By Voltage Range: 9v & Below, 10-20 v, 21-60 v, 60 v And Above 4) By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace & Transportation, Household Appliances, Other Commercial Applications 5) By Speed: Low-Speed (less than 1,000 rpm), Medium-Speed (1,001 to 25,000 rpm), High-Speed (25,001 to 75,000 rpm), Ultra-High Speed (greater than 75,001 rpm) The global electric motors market size will grow from $97.15 billion in 2022 to $102.68 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electric motors market size is expected to grow to $123.54 billion in 2027 at a CAGR of 4.7%. An increase in the sale of electric vehicles is expected to propel the growth of the electric motors market. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing popularity of electric vehicles drives the demand for electric to drive the wheels. For instance, according to the 2020 International Energy Agency (IEA) report, a France-based independent intergovernmental organization, 10 million electric vehicles were in circulation worldwide, up 43% from 2019. Additionally, it is estimated that by 2040, electric vehicle sales will account for 58% of all passenger car sales worldwide, up from an estimated 28% in 2030. Therefore, the growing demand for electric vehicles (EVs) is driving the growth of the electric motors market going forward. Major players in the electric motors market are ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc., and Baldor Electric Company, Inc. Increased tariffs on raw materials such as steel and aluminum will restrain the market for motor manufacturing in the forecast period. Steel and aluminum are predominantly used in the manufacture of components for motors. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in February 2020, the USA administration decided to raise tariffs on derivative steel and aluminum imports by 25% and 10%, respectively. Motor manufacturing companies are increasingly manufacturing IoT-enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detecting any deviation from normal behavior. Smart motors offer several benefits such as increased lifespan of equipment and improved safety. In November 2021, Renault Group, a France-based automotive company acquired Whylot for an undisclosed amount. Through this acquisition, Renault Group aims to to develop and industrialise an innovative axial-flow automotive e-motor and a breakthrough technology for electrified applications. Whylot, a France-based company specializing in innovative electric motors. Asia-Pacific was the largest region in the electric motors market in 2022. Western Europe was the second-largest region in the global electric motors market share. The regions covered in the global electric motors market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The electric motors market consists of sales of rotor, bearings, stator, air gap, windings, commutator, and other electric motors. Devices that use electric motors consist of fans, blowers, household appliances, disk drives, batteries and power tools, machine tools, domestic appliances, HVAC applications, electric cars, and automated robots. 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. The electric motors market research report is one of a series of new reports from The Business Research Company that provides electric motors market statistics, including electric motors industry global market size, regional shares, competitors with an electric motors market share, detailed electric motors market segments, market trends and opportunities, and any further data you may need to thrive in the electric motors industry. These electric motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A two-wheeler hub motor is an electrical motor that is attached to the wheels and converts electric power to motive power to provide traction. It helps in reducing the weight of the vehicle, reduces fuel consumption, extends the life of a two-wheeler, and lowers maintenance costs. The two-wheeler hub motor is used to power rear-wheel drive vehicles. The main types of two wheeler hub motor market vehicle types are electric bikes, electric scooters, and electric motorcycles. An electric bike refers to the two-wheeler hub motor used in electric bikes for providing pedaling assistance. In hub motors, the shaft becomes the axle and does not spin. The rotor spins and lets the whole motor spin and generate torque to rotate the front or rear wheel. The various types of installation are front and rear. The various motors include gearless and geared models that are distributed through several channels such as original equipment manufacturer (OEM), and aftermarket. The global two wheeler hub motor market is segmented - 1) By Vehicle Type: Electric Bike, Electric Scooter, Electric Motorcycle 2) By Motor: Gearless, Geared 3) By Installation: Front, Rear 4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket The global two wheeler hub motor market size will grow from $10.98 billion in 2022 to $12.41 billion in 2023 at a compound annual growth rate (CAGR) of 13.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global two wheeler hub motor is expected to grow to $19.97 billion in 2027 at a CAGR of 12.6%. The rise in demand for electric vehicles is significantly contributing to the growth of the two wheeler hub motor market going forward. Electric vehicles refer to vehicles that work on electricity that is stored in batteries. Hub motors help electric two-wheelers achieve better drivability and efficiency and improve electric vehicle performance. For instance, according to a report by the Society of Manufacturers of Electric Vehicles (SMEV), an India-based electric vehicle association, in 2021, the sales of electric two-wheelers increased by 132% in India. In addition, unit sales of two-wheelers reached 100,736 units in 2020, which had increased to 233,971 units in 2021. Therefore, the rise in demand for electric vehicles is driving the growth of the two wheeler hub motor market. Major players in the two wheeler hub motor market are Robert Bosch GmbH, Electric Bike Ltd., Evans Electric, GoGoA1, Heinzmann GmbH & Co. KG, Ziehl-Abegg SE, Elaphe Propulsion Technologies Ltd., Siemens AG, Schaeffler Technologies AG & Co. KG, Saietta Europe B.V., Hyundai Mobis, Dana TM4, Kolektor, Printed Motor Works Limited, Kelly Controls, and YASA Limited. Product innovation is the key trend gaining popularity in the two wheeler hub motor market. Major companies operating in the two-wheeler hub motor sector are focused on developing technologically advanced products to sustain their position in the market. For instance, in September 2020, Saietta, a UK-based manufacturer of light-duty and heavy-duty electric drive systems, introduced an in-hub advanced axial flux traction (AFT) electric motor with axial flux technology. The AFT motor offers a lower overall weight and provides a more compact design. It can also produce more torque than other motors while generating less heat. In September 2021, Fazua, a Germany-based company that develops e-bike drive systems acquired Innotorq for an undisclosed amount. This acquisition will help Fazua position itself as the leading provider of lightweight e-bike systems. Innotorq is a Germany-based provider of sensor and drive systems. Asia-Pacific was the largest region in the two wheeler hub motor market in 2022. The regions covered in the global two wheeler hub motor market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the two wheeler hub motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The two wheeler hub motor market consists of sales of geared and direct drive. 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. The two wheeler hub motor market research report is one of a series of new reports from The Business Research Company that provides two wheeler hub motor market statistics, including two-wheeler hub motor industry global market size, regional shares, competitors with a two wheeler hub motor market share, detailed two wheeler hub motor market segments, market trends and opportunities, and any further data you may need to thrive in the two-wheeler hub motor industry. This two wheeler hub motor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A power generator refers to a machine that converts mechanical energy into electrical energy for applications in external circuits to provide an uninterrupted power supply, which uses mechanical energy such as steam, gas, and water. The main types of power generator manufacturing markets are the gas generator, diesel generators, and CKD generators. The gas generator is an apparatus for generating gas. The capacity used is below 75kva, 75-375 kva, 375-750 kva, and above 750 kva. The applications are standby, peak shaving, and continuous. The various end-users are mining, oil & gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, and others. The global power generators market is segmented - 1) By Type: Gas Generator, Diesel Generator, CKD Generator 2) By Capacity: Below 75kva, 75-375 kva, 375-750 kva, Above 750 kva 3) By Application: Stand By, Peak Shaving, Continuous 4) By End User: Mining, Oil And Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Other End Users The global power generators market size grew from $1776.61 billion in 2022 to $1913.39 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the power generators is expected to grow to $2,543.23 billion in 2027 at a CAGR of 7.4%. The power generators market covered in this report is segmented by type into gas generator, diesel generators, and CKD generators. The power generators market in this report is segmented by capacity into below 75kva, 75-375 kva, 375-750 kva, and above 750 kva. The power generators market in this report is segmented by application into standby, peak shaving, and continuous. The generator manufacturing market in this report is segmented by end-user into mining, oil & gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, and others. Increasing demand from several industries such as mining, oil and gas, and pharmaceuticals is expected to contribute to the growth of the generator manufacturing market in the forecast period. Generators are used as a source of power backup in many industrial activities. However, in cases where grid infrastructure is absent, generators are used as the only source of power. For example, the majority of the mining sites are located in remote locations and require generators for their day-to-day power requirements. For instance, the mining market in India is expected to increase to $126 billion in 2022 at a CAGR of 4.63%. Economic growth in emerging markets is increasing industrial activity which in turn will drive the market for growth of the power generators market in the forecast period. Major players in the power generators market are Aggreko, Atlas CopCo., Caterpillar Inc., FG Wilson, Kirloskar Electric Co. Ltd., Cummins Inc., Rolls-Royce, Wärtsilä, Yanmar Co. Ltd., and Briggs & Stratton. Government initiatives to promote building and maintaining a robust energy infrastructure will drive the demand for power generation systems which in turn is expected to restrain the market for generators in the forecast period. For instance, in September 2021, The U.S. Department of Agriculture announced an investment of $ 464 million to build or improve renewable energy infrastructure to support rural communities. Moreover, in April 2021, according to the Ministry of New and Renewable Energy, the government of India, launched the "National Programme on High-Efficiency Solar PV Modules" Production Linked Incentive Scheme with a budget of Rs. 4,500 crores to support and encourage the production of high-efficiency solar PV module. Governments in both developed and developing countries are focusing on building and maintaining robust energy infrastructure, and it is expected to limit the growth of the power generators market market. Generator manufacturing companies are increasingly manufacturing portable generators. A Portable generator provides electricity by running a gas-powered/diesel-powered engine that turns an onboard alternator to generate electrical power. The rising demand for uninterrupted and reliable power supply is increasing the demand for portable generators. Portable generators offer several advantages such as flexibility and increased ease of use. The global portable generators market is expected to reach $2.5 billion by 2024 growing at a CAGR of 4.1% through 2019. In March 2021, Albion Acquisitions, London-based Private equity acquired Aggreko for the amount of $2.3 billion. This acquisition of Agrreko will deal with I Squared Capital and TDR Capital. Aggreko is a UK-based company that provides rental power, temperature control, and compressed air systems. Asia-Pacific was the largest region in the power generators market in 2022. The regions covered in the global power generator manufacturing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the power generator manufacturing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The power generator market consists of sales of the gas generator, diesel generators, and CKD generators. 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. The power generators market research report is one of a series of new reports from The Business Research Company that provides power generators market statistics, including power generators industry global market size, regional shares, competitors with a power generators market share, detailed power generators market segments, market trends and opportunities, and any further data you may need to thrive in the power generators industry. This power generators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Motor vehicle electrical and electronic components are electrically regulated components that draw power from the batteries and feed it back through the furnace to the battery. The main types of motor vehicle electrical and electronic equipment are lighting equipment, automatic voltage and voltage-current regulators, insulated ignition wiring sets, generators for internal combustion engines, spark plugs for internal combustion, and other types. Lighting equipment refers to the electronic equipment that is considered for usage in motor vehicles. The various vehicle types include two-wheelers, passenger cars, and commercial vehicles. The various vehicle classes are mid-priced and luxury. The global motor vehicle electrical and electronic equipment market is segmented - 1) By Product Type: Lighting Equipment, Automatic Voltage And Voltage-Current Regulators, Insulated Ignition Wiring Sets, Generators For Internal Combustion Engines, Spark Plugs For Internal Combustion, Other Product Types 2) By Vehicle Type: Two-Wheelers, Passenger Cars, Commercial Vehicles 3) By Vehicle Class: Mid-Priced, Luxury The global motor vehicle electrical and electronic equipment market size will grow from $171.37 billion in 2022 to $190.32 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global motor vehicle electrical and electronic equipment is expected to grow to $284.26 billion in 2027 at a CAGR of 10.5%. The motor vehicle electrical and electronic equipment market is driven by the increase in the demand for safer vehicles equipped with electrical and electronic safety equipment to minimize the risk of road accidents. The rise in the number of accidents is a result of reckless driving, over speeding, a decline in following traffic rules, and drunken driving. Electrical and electronic systems such as anti-lock braking systems (ABS) increase the safety of the vehicle by preventing wheels from locking up during a fast-breaking process. For instance, NHTSA (National Highway Traffic Safety Administration) estimates 8,730 people died in motor vehicle crashes in the first three months of 2021 in its most recent report, Early Estimate of Motor Vehicle Traffic Fatalities. This figure was up by 10.5% as compared to the 7,900 fatalities projected by the agency for the first quarter of 2020. Hence, the global new car assessment programme (Global NCAP) has initiated a goal of the UN Decade of Action for Road Safety and also establishes new goals for 2030 to avoid these road crashes and maintain safety. The demand for vehicles that are less prone to accidents has a positive impact on the growth of the motor vehicle electrical and electronic equipment market. Major players in the motor vehicle electrical and electronic equipment market are Bosch, General Motors Corp., TenneCo., DENSO Manufacturing Tennessee, Delphi Corp., Hyundai, Hella, Technitrol Delaware Inc., Ford Motor Co., and Technitrol Delaware Inc. The risk of life-threatening accidents due to the failure of electrical and electronic equipment in motor vehicles has a negative impact on the growth of the motor vehicle electrical and electronic equipment market. Any malfunctions with the electrical systems in the vehicles can lead to serious accidents. As reported by the U.S. Department of Transportation’s National Highway Traffic Safety Administration, an agency of the U.S. federal government, electrical system failure was the cause of 21% of motor vehicle accidents. In 2020, Toyota and Honda will recall over 6 million vehicles globally, which is a danger to travelers. The Toyota recall affects about 3.4 million vehicles globally and is being done because the airbags may not expand in a crash. Honda's recall covers approximately 2.7 million vehicles in the US and Canada with Takata airbag inflators. The risk involved with the failure of electrical and electronic equipment in motor vehicles restricts the growth of the market. Motor vehicle electrical and electronic equipment market manufacturers are investing in improving the electronic sensors used in motor vehicles such as cars and trucks to increase visibility and awareness. Some vehicle sensors include ambient light, battery current, differential oil temperature, door open warning, anti-lock braking system (ABS), auto door lock position, battery temperature, brake power booster. Companies involved in the market are now developing sensors to help improve battery life in cars. For instance, in May 2022, Continental AG, a German automotive parts manufacturing company launched new sensors for electric vehicles, the Current Sensor Module (CSM) and Battery Impact Detection (BID). These two solutions are focused on protecting batteries and/or preserving battery parameters. A compact, single-unit CSM measures current independently by integrating both shunt technology and hall technology to support strict functional safety requirements The improvement in sensor technology marks the latest trend among the companies involved in the motor vehicle electrical and equipment market In June 2021, Hyundai Motor Group, a company manufacturing automotives based in South Korea, acquired Boston Dynamics Inc. for a deal amount of 1.1 billion. With this acquisition, the Hyundai Group expands its strategic transformation into a smart mobility solution provider and has invested substantially in the development of future technologies, including artificial intelligence (AI), autonomous driving, urban air mobility (UAM), smart factories, and robots. Boston Dynamics Inc., a company operating in motor vehicle electrical and electronic equipment specializing in robots, is based in the United States. Asia-Pacific was the largest region in the motor vehicle electrical and electronic equipment market in 2022. Western Europe was the second largest market in the global motor vehicle electrical and electronic equipment market share. The regions covered in the global motor vehicle electrical and electronic equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motor vehicle electrical and electronic equipment market include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The motor vehicle electrical and electronic equipment market consist of sales of power windows, power steering, headlights and other exterior lights, windshield wipers, and defroster. 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. The motor vehicle electrical and electronic equipment market research report is one of a series of new reports from The Business Research Company that provides motor vehicle electrical and electronic equipment market statistics, including motor vehicle electrical and electronic equipment industry global market size, regional shares, competitors with a motor vehicle electrical and electronic equipment market share, detailed motor vehicle electrical and electronic equipment market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle electrical and electronic equipment industry. This motor vehicle electrical and electronic equipment 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 engine, turbine, and power transmission equipment are machines including engine, turbine, and power transmission. The engine is used to move things, a turbine is used to convert rotational energy into usable work or energy and power transmission is used to transfer of mechanical energy from a prime mover to a driven machine. Commonly turbine equipment is used in the generation of electric power. The main types of engine, turbine and power transmission equipment are commercial internal combustion engines, turbine and turbine generator set units, mechanical power transmission equipment, speed changer, industrial high-speed drive, and gear. Internal combustion engines refer to the internal combustion engines that generate motive power and produce hot gas to drive a piston. The various cAsia-Pacificity includes small, medium, and large. The various end-users involved are automotive, manufacturing, industrial, and other end-users. The global engine, turbine, and power transmission equipment market is segmented - 1) By Type: Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear 2) By Capacity: Small, Medium, Large 3) By End-Users: Automotive, Manufacturing, Industrial, Other End-Users Subsegments Covered: Diesel Powered Internal Combustion Engines, Gasoline Powered Internal Combustion Engines, Natural Gas Powered Internal Combustion Engines, Other Powered Internal Combustion Engines, Steam And Gas Turbine, Wind Turbine, Hydro Turbine, Plain Bearings, Joints, Clutches, Couplings, Pulleys, Chains And Sprockets, Other Mechanical Power Transmission Equipment The global engine, turbine, and power transmission equipment market size grew from $571.79 billion in 2022 to $621.6 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global engine, turbine, and power transmission equipment market is expected to grow to $837.61 billion in 2027 at a CAGR of 7.7%. The engine, turbine, and power transmission equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. Major companies in the engine, turbine, and power transmission equipment market include Caterpillar Inc., Vestas Wind Systems A/S, Mitsubishi Heavy Industries Ltd., Siemens AG, Goldwind, Doosan Heavy Industries & Construction Co. Ltd., SKF Group, Baker Hughes Co, Cummins Inc., and Nordex SE. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the engine, turbine, and power transmission equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the engine, turbine, and power transmission equipment manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Gas turbine and power generation equipment manufacturers are adopting modular turbine designs to reduce onsite work and offer short installation times. The modular turbine design is prefabricated electricity-generating equipment in a factory, packaged to reduce the timeline to construct a power plant. They are reliable and low-cost equipment to reduce construction, design, installation, and delivery times. These modular designs can be prefabricated and delivered not only in gas turbines, but also in other components of power plants such as engine modules, fuel delivery systems, emissions control equipment, heat recovery steam generator (HRSG) modules, generators, pipe racks, and other auxiliary systems. Major companies providing modular turbine designs are VESTAS, ENERCON, and GE. For instance, in July 2022, WEG launched a 7 MW wind turbine and a 172 meters rotor diameter for improving output for wind generation projects. With its Medium-Speed Geared (MSG) drive technology and full power drive, the unit can seamlessly interconnect with the electrical grid. Additionally, the new design includes modular components, such as a taller tower, to simplify logistics operations and provide an easier assembly concept . The Asia-Pacific was the largest region in the engine, turbine, and power transmission equipment market share in 2022. Western Europe was the second largest region in the engine, turbine, and power transmission equipment market The regions covered in the global engine, turbine, and power transmission equipment industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the engine, turbine, and power transmission equipment market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The engine, turbine, and power transmission equipment market consist of sales of equipment including turbines, equipment for power transmission, and internal combustion engines (except the automotive gasoline and aircraft), among others. 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. The engine, turbine, and power transmission equipment market research report are one of a series of new reports from The Business Research Company that provides engine, turbine, and power transmission equipment market statistics, including engine, turbine, and power transmission equipment industry global market size, regional shares, competitors with an engine, turbine, and power transmission equipment market share, detailed engine, turbine, and power transmission equipment market segments, market trends and opportunities, and any further data you may need to thrive in the engine, turbine, and power transmission equipment industry. This engine, turbine, and power transmission equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electrical steel refers to a ferromagnetic material made up of iron that contains varying amounts of silicon (Si) that range from 1% to 6.5%. It is a soft magnetic material with enhanced electrical properties that are widely used across applications such as small relays, solenoids, electric motors, generators, and many other electromagnetic devices. The main types of electrical steel include grain-oriented and non-grain-oriented. Grain-oriented electrical steel is used in efficient transformers and large, high-performance generators. Grain oriented electrical steel contains 3% silicon steel that is processed under carefully controlled conditions and is used in transformers and generators. Electrical steel is used in different industries such as energy, automotive, household appliances, and manufacturing for applications in large power transformers, distribution transformers, small transformers, power generators, and audio transformers. The global electrical steel market is segmented - 1) By Type: Grain-Oriented, Non-Grain-Oriented 2) By Industry: Energy, Automotive, Household Appliances, Manufacturing 3) By Application: Large Power Transformers, Distribution Transformers, Small Transformers, Power Generators, Audio Transformers The global electrical steel market size will grow from $26.47 billion in 2022 to $28.3 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global electrical steel is expected to grow to $36.9 billion in 2027 at a CAGR of 6.9%. Increasing demand for electric and hybrid vehicles is significantly contributing to the growth of the electrical steel market. Electrical steel has high flux density and low iron loss properties, and is thus used in electric motors to realise high motor efficiency. For instance, in countries like China, the US, and Europe, the sales of electric cars increased by nearly 160% in the first half of 2021 over 2020 in the same period. According to research firm Wards Intelligence, US hybrid vehicle sales in 2021 jumped 76% over the previous year. Thus, increasing demand for electric and hybrid vehicles will contribute to the growth of the electric vehicle market. Major players in the electrical steel market are ThyssenKrupp AG, TISCO, Nippon Steel, Posco, JFE Steel, Nicore Electrical Manufactory Co. Ltd., Voestalpine, ArcelorMittal, AK Steel (Cleveland-Cliffs), SAIL, Cogent Power Ltd., Tempel Steel Company, Phoenix Mecano AG, JFE Steel Corporation, Leicong Industrial Co., Ltd., United States Steel Corporation, Novolipetsk Steel and Allegheny Technologies Inc.,. The increasing development of sustainable products is a key trend gaining popularity in the electric steel market. Companies in the market are focusing on manufacturing electric steel that is environmentally friendly and emits fewer greenhouse gases. For instance, in 2022, Germany-based steel manufacturer, ThyssenKrupp AG, developed electric steel with 50% lower CO2 emissions for use in power and distribution transformers. The low-emission electric steel has low core losses and thus achieves high current transport efficiencies. ThyssenKrupp would supply it for manufacturing transformers with CO2-reduced electrical steel for new digital E.ON medium-voltage stations in Germany. In November 2021, a US-based industrial metals manufacturer, Worthington Industries, Inc., announced the acquisition of Tempel Steel Company for $255 million. The acquisition would make Worthington Industries a leading company in the rapidly growing electrical steel market that includes transformers, machine motors, and electric vehicle (EV) motors. Tempel Steel Company is a US-based steel company offering precision motors and transformer laminations for the electrical steel market. Asia-Pacific was the largest region in the electrical steel market in 2022. North America is expected to be the fastest-growing region in the forecast period.The regions covered in the electrical steel market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electrical steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electrical steel market consists of sales of silicon steel, transformer steel, or lamination steel.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. The electrical steel market research report is one of a series of new reports from The Business Research Company that provides electrical steel market statistics, including electrical steel industry global market size, regional shares, competitors with electrical steel market share, detailed electrical steel market segments, market trends and opportunities, and any further data you may need to thrive in the electrical steel industry. This electrical steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The motors and generators market consists of sales of motors, generators, and related services by entities (organizations, sole traders, partnership) that are used to isolate electrical loads from power supply lines. The motor converts electrical energy into mechanical energy, and the generator converts mechanical energy into electrical energy. The main types of motors and generators are motor manufacturing and generator manufacturing. The functions are performance, comfort and convenience, safety and security, and it is used in industrial, commercial, and residential settings. The global motors and generators market size is expected to grow from $86.86 billion in 2021 to $92.62 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The global motors and generators market size is expected to grow to $105.56 billion in 2026 at a compound annual growth rate (CAGR) of 3.3%. The increasing use of household appliances is expected to propel the growth of the motors and generators manufacturing market in the forecast period. Increasing electrification, rising disposable income, and rapid urbanization, along with several other factors, are boosting the demand for household appliances, which in turn will drive the market for motors. For instance, according to CDI Global, a capital market company, the global household appliances market generated total revenue of $542 billion in 2019. Also, the volume of sales for the same year amounted to 4.3 billion pieces. Therefore, the increasing use of household appliances is driving the growth of the motors and generators market. Increased tariffs on raw materials such as steel and aluminum restrained the market for motors and generators manufacturing in the historic period. Steel and aluminum are predominantly used in manufacturing the components for motors. Increasing import tariffs on raw materials such as steel have hindered the market for household fans. For instance, according to ECOMCREW, a Canada-based e-commerce business blog, in May 2019, nearly half of all goods that America imports from China were subject to an additional 25% tariff. In August 2019, the Trump Administration imposed 10% duties on all remaining products not currently subject to additional duties. An increase in tariffs will increase operating expenses, thereby restraining the growth of the market. The emergence of portable generators is a key trend gaining popularity in the motors and generators market. Companies operating in the motors and generators market are focusing on developing new products to sustain their position in the market. For instance, in June 2022, Honda Siel Power Products Ltd., an India-based motor and generator manufacturer, launched the new Honda EU3200i, the newest generator in the Honda Super Quiet EU Series lineup. The high-output Honda EU3200i delivers more power and more convenience and is available in a compact, space-saving, portable package. In December 2019, Voith Group, a Germany-based machine company, acquired Elin Motoren GmbH for an undisclosed amount. This acquisition of ELIN Motoren would be an excellent addition to the industrial drive solutions and supports the Voith group company’s position as a technology-independent supplier of drive systems. Win Motoren GmbH is an Austrian-based company that produces motors and generators for international companies. The major players in the motors and generators market are Siemens AG, ASMO, Rockwell Automation, Emerson Electric Co., ABB Ltd., Nidec, General Electric Co., Baldor Electric Co., Danahar Motion LLC, and Kollmorgen Corp. Asia-Pacific was the largest region in the motors and generators manufacturing market in 2021. The regions covered in the global motors and generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motors and generators market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global motors and generators market is segmented - 1) By Type: Motor Manufacturing, and Generator Manufacturing 2) By End-User: Industrial, Commercial, and Residential