Motor Vehicle Electrical And Electronic Equipment Market Definition And Segments

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 motor vehicle electrical and electronic equipment market covered in this report 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 motor vehicle electrical and electronic equipment market size has grown strongly in recent years. It will grow from $186.73 billion in 2023 to $203.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to rise of the automobile industry, electrification of vehicle functions, consumer electronics integration, regulatory requirements, advancements in computer technology. The motor vehicle electrical and electronic equipment market size is expected to see strong growth in the next few years. It will grow to $288.14 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to electric and hybrid vehicle growth, autonomous vehicles, connectivity and iot integration, environmental regulations, electrification of commercial vehicles. Major trends in the forecast period include advanced driver assistance systems (adas), cybersecurity in vehicles, vehicle-to-everything (v2x) communication, electrification of auxiliary systems, user interface and human-machine interaction.

Rising Road Accidents Drive Demand For Enhanced Motor Vehicle Electrical And Electronic Components

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, overspeeding, 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 that 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 established 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.

Shift To Electric Vehicles (EVS) Is Anticipated To Fuel Motor Vehicle Electrical And Electronic Components Market

The shift to electric vehicles (EVs) is expected to propel the motor vehicle electrical and electronic components market going forward. Electric vehicles (EVs) are vehicles that use one or more electric motors for propulsion, relying on electrical energy stored in rechargeable batteries or another energy storage device. Motor vehicle electrical and electronic components are essential in electric vehicles for battery management, drive control, infotainment, and advanced driver-assistance systems. For instance, in 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, the global electric car market has witnessed growth, with sales surpassing 10 million in 2022. In just three years, the percentage of electric cars in overall sales has surged from approximately 4% in 2020 to 14% in 2022. This is anticipated to reach 14 million in sales by the close of 2023, reflecting a 35% year-on-year growth, particularly driven by a surge in new purchases during the latter half of this year. Therefore, the shift to electric vehicles (EVs) is driving the motor vehicle electrical and electronic components market. Major companies operating in the motor vehicle electrical and electronic equipment market include Bosch Limited, General Motors Corporation, Tenneco Inc., DENSO Manufacturing Tennessee Inc., Delphi Technologies Inc., Hyundai Motor Company, Hella GmbH & Co. KGaA, Technitrol Delaware Inc., Ford Motor Company, Honeywell International Inc., Mars Incorporated, Raytheon Technologies Corporation, ZF Friedrichshafen AG, ITT Inc., Textron Inc., Cummins Inc., Infineon Technologies AG, Hitachi Ltd., HGM Automotive Electronics, Delta Electronics, Atotech Deutschland GmbH & Co. KG, JTEKT Corporation, Knorr-Bremse AG, Nexteer Automotive Group Limited, ThyssenKrupp AG, Magna International Inc., Aisin Seiki Co. Ltd., Continental Automotive Systems Inc., Asama Coldwater Manufacturing Inc., Global Steering Systems LLC, Maval Industries LLC, American Showa Inc., Atsco Remanufacturing Inc., KYB Americas Corporation, Raytech Powertrain LLC

Electrical System Failures In Vehicles Is A Barrier To Motor Vehicle Electrical And Electronic Components Market

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 2022, Ford recalled 48,000 Mustang Mach-E electric crossovers in the USA. The Ford recall was done because of the potential overheating of the vehicle’s battery high-voltage contactors. Thus, the risk involved with the failure of electrical and electronic equipment in motor vehicles restricts the growth of the market.

Advancements In Vehicle Sensor Technology Transforming The Motor Vehicle Electrical And Electronic Components 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, and 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.

State Of The Art Power Semiconductor To Address The Rising Demand For Efficient Ev Power Solutions

Major companies operating in the motor vehicle electrical and electronic components market are introducing new power semiconductors such as RoadPak to meet the demand for efficient EV power solutions. RoadPak is a state-of-the-art power semiconductor module for electric vehicles, leveraging advanced silicon carbide (SiC) technology to deliver unparalleled power density. For instance, in May 2022, Hitachi Energy, a Switzerland-based energy industry company, unveiled its groundbreaking RoadPak power semiconductor module for electric vehicles (EVs) at PCIM Europe. Leveraging cutting-edge silicon carbide (SiC) technology, RoadPak offers high power density, enabling quicker charging, longer driving ranges, and enhanced reliability. RoadPak is the company's innovation in power electronics and is been tested in the Mahindra Racing Formula E team's cars, demonstrating its versatility for various EVs, from luxury cars to heavy-duty trucks. Power semiconductors are integral to EVs, converting battery DC power to the AC required by the motor. These advanced semiconductors also play a pivotal role in integrating renewable energy into power grids and supporting the transition to sustainable transportation.

Hyundai Motor Group Acquires Boston Dynamics To Boost Smart Mobility And Robotics Initiatives

In June 2021, Hyundai Motor Group, a company manufacturing automobiles based in South Korea, acquired Boston Dynamics Inc. for a deal amount of 1.1 billion. With this acquisition, the Hyundai Group expanded 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 2023. Western Europe was the second largest region in the motor vehicle electrical and electronic equipment market. The regions covered in the motor vehicle electrical and electronic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the motor vehicle electrical and electronic equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada The motor vehicle electrical and electronic equipment market consists 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.

Engine, Turbine, And Power Transmission Equipment Market Definition And Segments

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 capacities include small, medium, and large. The various end-users involved are automotive, manufacturing, industrial, and other end-users. The engine, turbine, and power transmission equipment market covered in this report 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 engine, turbine, and power transmission equipment market size has grown strongly in recent years. It will grow from $546.05 billion in 2023 to $593.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to industrialization, energy demand, aerospace industry growth, infrastructure development, globalization. The engine, turbine, and power transmission equipment market size is expected to see strong growth in the next few years. It will grow to $810.87 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to renewable energy integration, electrification, digitalization and iot, decentralized power generation, hydrogen economy. Major trends in the forecast period include advanced materials, hybrid power systems, energy storage integration, remote monitoring and predictive maintenance, sustainable propulsion.

The Role Of Stable Economic Conditions In The Engine, Turbine, And Power Transmission Equipment Manufacturing Market

The engine, turbine, and power transmission equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. For instance, according to the International Monetary Fund (IMF), a US-based financial agency, China’s gross domestic product (GDP) grew from $17.75 trillion in 2021 to $18.1 trillion in 2022. In addition, the emerging markets and developing economies registered a growth of 3.9% in 2020, which increased to 6.1% in 2022. 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.

The Impact Of Growing Renewable Energy Demand On The Engine, Turbine, And Power Transmission Equipment Market

The increasing demand for renewable energy sources is expected to propel the growth of the engine, turbine, and power transmission equipment market. The shift towards renewable energy sources, such as wind and solar power, has increased the demand for engines, turbines, and power transmission equipment. The use of engines and turbines in renewable energy sources is essential for converting wind and solar energy into electricity. For instance, in April 2023, according to a report published by the National Renewable Energy Laboratory (NREL), a US-based research institution dedicated to advancing renewable energy and energy efficiency technologies, global photovoltaic (PV) installations reached 231 gigawatts of direct current (GWdc), totaling 1.2 terawatts of direct current (TWdc) cumulatively in 2022. China's annual PV installations surged by 57%, accounting for 42% of global demand, primarily driven by distributed PV, while annual installations are forecast to exceed 300 GW by 2023 and surpass 400 GW by 2025. , Therefore, the increasing demand for renewable energy sources contributed to the growth of the engine, turbine, and power transmission equipment market. Major companies operating 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., Mitsubishi Heavy Industries Ltd., Doosan Heavy Industries & Construction Co. Ltd., Nordex SE, General Electric Company, ABB Ltd., Toshiba Corporation, Wartsila Corporation, Rolls-Royce Holdings PLC, Alstom SA, Voith GmbH & Co. KGaA, Sulzer Ltd., MAN Energy Solutions SE, Kawasaki Heavy Industries Ltd., Woodward Inc., Regal Beloit Corporation, Timken Company, Dana Incorporated, BorgWarner Inc., Eaton Corporation PLC, Emerson Electric Co., Parker-Hannifin Corporation, Rexnord Corporation, Gates Corporation.

The Impact Of The COVID-19 Pandemic On The Engine, Turbine, And Power Transmission Equipment Manufacturing Market And Its Prospects For Recovery

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-such as 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.

The Adoption Of Modular Turbine Designs In Gas Turbine And Power Generation Equipment Manufacturing

Major manufacturers operating in the market 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. For instance, in July 2022, WEG, a Brazil-based company operating in the electric engineering, power, and automation technology areas, launched a 7 MW wind turbine with a 172-meter rotor diameter to improve 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.

Advancing The Engine, Turbine, And Power Transmission Equipment Market With Hybrid Power Systems

Major companies operating in the engine, turbine, and power transmission equipment market are focusing on developing innovative products, and hybrid power systems to grow their position in the market. Hybrid power systems combine two or more power sources, such as a diesel engine and a battery, to provide more efficient and reliable power generation. For instance, in August 2021, LaunchPoint EPS, a US-based propulsion and power generation company, developed a hybrid power system for drones that combines a gasoline engine with an electric generator to provide longer flight times and increased payload capacity. The LaunchPoint HPS055 GenSet is a 5.5kW, highly efficient, high-specific power generator and hybrid electric power/engine controller system that are utilizing specialized electric machine and GenSet technology for enabling extended-range flight. The Asia-Pacific was the largest region in the engine, turbine, and power transmission equipment market in 2023. Western Europe was the second largest region in the engine, turbine, and power transmission equipment market . The regions covered in the engine, turbine, and power transmission equipment market 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 report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa 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.

Power Generation, Transmission And Control Equipment Market Definition And Segments

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 power generation, transmission and control equipment market covered in this report 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 power generation, transmission and control equipment market size has grown strongly in recent years. It will grow from $554.3 billion in 2023 to $583.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to growth in industrialization, grid expansion, rural electrification programs, nuclear power development, government incentives. The power generation, transmission and control equipment market size is expected to see steady growth in the next few years. It will grow to $697.58 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to growing decentralized energy systems, electric vehicle charging infrastructure, resilience planning, economic growth, demand for smart appliances. Major trends in the forecast period include digitalization and industry 4.0, cybersecurity for critical infrastructure, hybrid power systems, artificial intelligence (AI) in grid management, carbon capture and storages.

Elevated Demand For Electricity Drives Future Growth In The Power Generation, Transmission, And Control Equipment Market

The rising demand for electricity is expected to propel the growth of the power generation, transmission, and control equipment market going forward. Electricity is a form of energy resulting from the existence of charged particles (such as electrons or protons), either statically as an accumulation of charge or dynamically as a current of electrons. Electricity demand attracts investments, spur innovation, and lead to the development of more advanced and efficient technologies, and further encourages research and development efforts to improve the efficiency and reliability of power generation, transmission, and control equipment. For instance, in August 2023, according to Exxon Mobil Corporation, a US-based natural gas company, electricity demand would rise by 1.8%-year, accounting for roughly 50% of this industry by the year 2050. Therefore, rising electricity demand is driving the growth of the power generation, transmission, and control equipment market.

Scada Systems Revolutionizing The Relay And Industrial Control Industry For Enhanced Efficiency And Productivity

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. For instance, in May 2022, Electronics Corporation of India Limited (ECIL), an India-based government-owned company launched programmable logic controller (PLC) and supervisory control and data acquisition (SCADA) software. The introduction of PLC and SCADA software is anticipated to expand the adoption of automation and controls across a variety of industries and to enhance the effectiveness and dependability of industrial processes by enabling real-time monitoring and control. Major companies operating in the power generation, transmission and control equipment market report are Hitachi Ltd., Siemens AG, General Electric Company, Caterpillar Inc., Hanwha Group, Schneider Electric SE, Mitsubishi Electric Corp., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., ABB Ltd., Toshiba Corporation, Cummins Inc., Legrand S.A., Eaton Corporation, Larsen & Toubro Limited, Alstom SA, Nidec Corp., Rolls-Royce Holdings PLC, Emerson Electric Co., Amphenol Corp., Kawasaki Heavy Industries Ltd., Rockwell Automation Inc., Fuji Electric Co. Ltd., Wärtsilä Corporation, Bharat Forge Limited, Bharat Heavy Electricals Limited, Bharat Electronics Limited, Crompton Greaves Ltd., Doosan Heavy Industries & Construction Co. Ltd.

Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers

Major companies operating in the power generation, transmission, and control equipment market are focusing on innovative products such as mainspring linear generator to provide reliable services to their customers. A linear generator refers to a type of electrical generator that converts mechanical energy, typically linear (straight-line) motion, directly into electrical energy. For instance, in March 2021, Mainspring Energy Inc., a US-based power generation equipment manufacturing company launched Mainspring Linear Generator. This is a novel low-cost, fully dispatchable, and fuel-flexible power production system for commercial and industrial buildings, utilities, and microgrids. The Mainspring Linear Generator uses a low-temperature, uniform reaction that maintains peak temperatures below the levels in which NOx forms (1500°C), resulting in near-zero NOx emissions. Asia-Pacific was the largest region in the power generation, transmission and control equipment market in 2023. 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 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power generation, transmission and control equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The power generation, transmission, and control equipment market consist 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 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.

Electric Motor And Generator Market Definition And Segments

Machines that transform electrical energy into mechanical energy are known as electric motors. An electric generator is a device that transforms mechanical energy into electrical energy. The main types of electric motor and generator are motor manufacturing and generator manufacturing. Motor manufacturing refers to the manufacturing of motors and generators for vehicles. The motor and generator are applicable in automobiles, maritime, power generation, and industrial uses. The motor and generator are used in the industrial, commercial, and residential sectors. The various power generation types are power generation, thermal, hydro, nuclear, wind, and other power generation. 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 The electric motor and generator market size has grown steadily in recent years. It will grow from $132.9 billion in 2023 to $138.72 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. 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 $161.02 billion in 2028 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.

Demand For Household Appliances With Other Factors In The Electric Motor And Generator Market

Increasing use of household appliances is expected to contribute to the growth of the motor and generator 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, the global household appliance manufacturing market is expected to reach $396.8 billion in 2022 at a CAGR of 8.7%. The growing demand for household appliances that function with a motor will thereby drive the market for motors and generators in the forecast period.

Rising Mining Activities In The Electric Motor And Generator Market

The rising mining activities are expected to propel the growth of the electric motor and generator market going forward. Mining activities are the process of removing profitable minerals, ores, or other geological elements from the crust of the earth and extracting rich minerals from the crust of the earth. An electric motor and generator are used for mining and mineral processing as a driving equipment such as crushers, mills, and driving hoists for the extraction, processing, storage, and transportation of products such as crude oil, petroleum, and natural gas. For instance, in February 2023, according to Glacier Media Group, a Canada-based media company, US mines produced non-fuel mineral products worth around $98.2 billion in 2022, an estimated $3.6 billion more than the 2021 revised total of $94.6 billion. Therefore, rising mining activities are driving the growth of the electric motor and generator market. Major companies operating in the electric motor and generator market report are 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, Rosenergoatom, Margex, 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., Aveng Trident Steel, Powertech Africa, MarelliMotori SA

Impact Of Tariffs On Raw Materials In The Electric Motor And Generator Market

Increased tariffs on raw materials such as steel and aluminum restrained the market for motor and generator 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, in 2021, according to The Hindu, the Aluminum Association of India had requested an increase in the tariff rate of basic customs duty for aluminum and articles from 10 to 15%. An increase in tariffs will increase operating expenses, thereby restraining the growth of the electric motor and generator market.

Rising Demand For Portable Generators In The Electric Motor And Generator Market

Generator manufacturing companies are increasingly manufacturing portable generators. A portable generator provides electricity by running a gas-powered or diesel-powered engine that turns an onboard alternator to generate electrical power. Rising demand for uninterrupted and reliable power supply is increasing the demand for portable generators as they offer advantages such as flexibility and ease of use.

Innovative Products Shaping The Electric Motor And Generator Market

Major companies operating in the electric motor and generator market are focusing on innovating products, such as the EW8.X-230 wind turbine generator, to provide reliable services to customers. The EW8.X-230 wind turbine generator is used as an electric generator designed for offshore wind farms. In June 2022, Shanghai Electric Wind Power Group Co., Ltd., a China-based wind turbine manufacturer, launched its first EW8.X-230 wind turbine generator. The EW8.X-230 wind turbine generator is a semi-direct drive chain technology generator and uses 100-meter blades. The EW8.X-230 is a generator designed for the medium-low wind speeds normally experienced just above the sea surface off the Chinese shoreline, as well as the different stresses placed on the equipment dependent on wind direction.

Graycliff Worldwide Electric Acquired Georator Corporation And Athlon Generator Highlighting The Specialization And Product Offerings

In August 2021, Graycliff WorldWide Electric, a US-based provider of industrial electric motors, gears and motor controls, acquired Georator Corporation and Athlon Generator for an undisclosed amount. Through this acquisition, WorldWide Electric increased the scope of its product offering and service and partnered with its current customer base by utilizing this extended product offering. Georator Corporation is a US-based manufacturer of rotary and solid-state power frequency converters and Athlon Generator is a US-based provider of generators for industrial applications. Asia-Pacific was the largest region in the electric motor and generator market in 2023. 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 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. The electric motor and generator market research report is one of a series of new reports from The Business Research Company 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.

Hydrogen Generators Market Definition And Segments

The hydrogen generators refers to generator that produce hydrogen from water using an electrolysis process. A proton exchange membrane (PEM) is used in a hydrogen generator to produce high-quality hydrogen gas from water. Hydrogen generators can be either hydrogen-powered or hydrogen-producing machines. The main types of products in hydrogen generators are onsite and portable. The onsite hydrogen generators allow for easy installation and fast start-up with unattended operation. The different processes used in the hydrogen generator are steam reforming, electrolysis, and others and operate in various capacities such as less than 300 W, 300 W to 1 KW, and more than 1 KW. The hydrogen generators are used in chemical processing, fuel cells, petroleum recovery, refining, and others. The hydrogen generators market covered in this report is segmented – 1) By Product Type: Onsite, Portable 2) By Process: Steam Reforming, Electrolysis, Other Processes 3) By Capacity: Less Than 300 W, 300W - 1 KW, More Than 1 KW 4) By Application: Chemical Processing, Fuel Cells, Petroleum Recovery, Refining, Other Applications The hydrogen generators market size has grown steadily in recent years. It will grow from $1.18 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to industrial hydrogen demand, energy sector applications, government initiatives and subsidies, research and development, hydrogen as a green energy carrier. The hydrogen generators market size is expected to see steady growth in the next few years. It will grow to $1.43 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to rise in green hydrogen projects, electrification of industries, government policies and carbon reduction targets, expansion of hydrogen fuel cell vehicles, global collaboration on hydrogen economy, integration with renewable energy sources. Major trends in the forecast period include technological innovations in electrolysis, advancements in electrolysis technologies, advancements in electrolysis technologies, integration of artificial intelligence (AI), hydrogen as an energy storage medium.

Hydrogen Generators Surge Amidst Tightening Greenhouse Gas Regulations

Government regulations over greenhouse gas emissions are expected to propel the growth of the hydrogen generators market going forward. Global greenhouse gas emissions are increasing, mainly due to fossil fuel consumption and industrialization. Hydrogen generators are being developed by major companies because they produce hydrogen by electrolysis, which produces zero greenhouse gas emissions. For instance, in December 2021, the environmental Protection Agency (EPA), a US-based government agency, has finalized updated national greenhouse gas (GHG) emissions requirements for passenger vehicles and light trucks for model years 2023-2026. The final guidelines would result in significant reductions in GHG emissions in addition to other criterion pollutants. The rule would provide significant public health and welfare advantages while saving customers money on gasoline prices. Hence, Government and environmental organizations are strengthening regulations to control greenhouse gas emissions which drives the hydrogen generators market.

Renewable Focus Ignites Hydrogen Generators Market Growth

The rising focus on renewable energy production is expected to propel the growth of the hydrogen generators market going forward. Renewable energy production refers to the process of generating energy from sources that are naturally replenished and have a minimal impact on the environment. Hydrogen generators are useful for renewable energy production as they enable the conversion of excess renewable energy into hydrogen through electrolysis, storing it for later use or facilitating clean fuel production. For instance, in January 2023, according to the Energy Information Administration, a US-based government agency, 16% of total energy generation in 2023 is anticipated to come from renewable energy sources such as wind and solar, up from 14% in 2022. Therefore, the rising focus on renewable energy integration is driving the growth of the hydrogen generators market. Major companies operating in the hydrogen generators market report are Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Siemens AG, Linde PLC, Cummins Inc., Air Liquide S.A., Johnson Matthey PLC, Air Products and Chemicals Incorporated, Praxair Technology Inc., Teledyne Energy Systems Inc., Plug Power Inc., Nel Hydrogen Fuel Cells AS, NEL ASA, Ballard Power Systems Inc., Nuvera Fuel Cells LLC, MVS Engineering Pvt. Ltd., Epoch Energy Technology Corporation, McPhy Energy S.A.S., HELBIO S.A., ITM Power Ltd., Proton OnSite LLC, Green Hydrogen System, Ideroenergy Inc., Hy9 Corporation, Suzhou Jingli Hydrogen Equipment Co. Ltd., Deokyang Co. Ltd., Hydrogenics Corporation, Relion Group

Revolutionizing Power Solutions With Emission-Free Hydrogen Generators

Major companies operating in the hydrogen generators market are developing innovative products such as emission-free generators to increase their profitability in the market. Emission-free hydrogen generators are devices or systems designed to produce hydrogen gas without releasing greenhouse gas emissions or other harmful pollutants into the environment. For instance, in November 2023, Hitachi Energy Ltd., a Switzerland-based sustainable energy system provider launched HyFlex. The HyFlex unit, engineered for either temporary or permanent setup, supplies power in situations where grid connections are unfeasible and diesel generators are not viable. The medium-power model supports temporary installations, offering a power range of 400–600 kVA, while the high-power version serves permanent setups, delivering 1 MVA or more per unit. HyFlex is entirely emission-free, generating solely AC power, usable heat, and water. It proves applicable to diverse industries, including construction sites situated in remote areas or those sensitive to noise and pollution. Additionally, it suits remote venues, data centers, and hospitals.

Leading Hydrogen Generator Companies Forge Partnerships For Market Success

Major companies operating in the hydrogen generator market are focused on partnerships to increase their profitability in the market. Partnerships refer to collaborative agreements or alliances formed between different entities, such as companies, organizations, or research institutions, to collectively develop, promote, or enhance hydrogen generator technologies. For instance, in September 2023, CMB.TECH, a UK-based hydrogen solution provider, collaborated with Volvo Penta, a Sweden-based marine and industrial engine manufacturer, to launch a 250 kVA hydrogen dual-fuel generator. This hybrid generator employs hydrogen dual-fuel technology, offering flexibility to run on either full diesel or in a dual-fuel setup. In the latter, hydrogen can substitute for up to 80% of diesel consumption, leading to a noteworthy reduction in CO2 emissions. The power source is intended for harbor activities and decentralized electricity production, serving as a practical and viable transitional measure on the path to entirely emission-free energy generation.

John F Hunt Power Expands Capabilities Through Acquisition Of Bruno Generators' Innovative Technology

In October 2022, John F Hunt Power, a UK-based company focused on providing power solutions acquired the world’s first hydrogen-flybrid generator developed by Bruno Generators Group for an undisclosed amount. Through this acquisition, John F Hunt underscores its dedication to achieving zero emissions and reinforces its investment in utilizing hydrogen for the power industry. Bruno Generators is an Italy-based company that specializes in the design, manufacturing power generation systems including hydrogen generators. North America was the largest region in the hydrogen generators market in 2023. The regions covered in the hydrogen generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydrogen generators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The hydrogen generator market consists of sales a hydrogen and oxygen tank, a fuel cell stack, AT PC power supply components. 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 hydrogen generators market research report is one of a series of new reports from The Business Research Company that provides hydrogen generators market statistics, including hydrogen generators industry global market size, regional shares, competitors with a hydrogen generators market share, detailed hydrogen generators market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen generators industry. This hydrogen 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.

Portable Generators Market Definition And Segments

The portable generator provides electrical power where electricity is unavailable or required for temporary purposes. A portable generator is a gas- or diesel-powered device designed typically to be an electrical generator that measures power in hours of use instead of days. Portable generators provide electricity by running a gas-powered engine that turns an on-board alternator, which generates electrical power. These generators provide temporary, easily transportable electric power, and are very commonly found in daily operation on all work and leisure sites. The main product types of portable generators are conventional portable generator and inverter portable generator. Inverter portable generators have varying speeds depending on the power required for a task; the more power required the faster the engine runs, making them more fuel-efficient. Some of these generators also have fixed speed set points, which helps with loads changing too frequently as small loads turn on and off. The fuels used in portable generators are diesel, gas, and others and these generators are used by residential, commercial, and industrial end users. The portable generators market covered in this report is segmented – 1) By Fuel Type: Diesel, Gas, Other Fuel Types 2) By Product Type: Conventional Portable Generator, Inverter Portable Generator 3) By End-User: Residential, Commercial, Industrial The portable generators market size has grown steadily in recent years. It will grow from $5.14 billion in 2023 to $5.37 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to rise in power outages, construction industry growth, rise in outdoor activities, rise in demand for home power backup, government support. The portable generators market size is expected to see steady growth in the next few years. It will grow to $6.33 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rising remote work, aging grid infrastructure, environmental regulations, rising disposable income. Major trends in the forecast period include hybrid and dual-fuel generators, smart generator technology, solar-powered portable generators, eco-friendly generators, integration of lithium-ion batteries.

Urbanization And Power Grid Failures Drive Growth In The Portable Generators Market

The growing rate of urbanization coupled with the increasing frequency of power grid failures is propelling the growth of the portable generators market. Electricity is key to the economic progress of a nation but many countries in the world do not have proper grid infrastructure due to which there is an inadequate power supply which hampers operations of residential and industrial spaces. Portable generators help provide a reliable power supply during a blackout and ensure continuous electricity supply for residential applications, as well. Moreover, rising concerns about power instability in the residential sector due to natural calamities, and uninterrupted operations are also driving the portable generator market. For instance, in October 2022, The World Bank, a US-based international financial institution, 4.4 billion people, or 56% of the world's population, reside in urban areas. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to more than double from its current level. This surge in urbanization leads to an increase in the demand for portable generators.

Rising Demand From End Users Of Consumer Electronics

The growing demand from end-users for consumer electronics is expected to propel the growth of the portable generator market. Consumer electronics (CE) refers to any electronic device intended for purchase and use by end-users or consumers on a daily and non-commercial/professional basis. Portable generators are often used to provide current to consumer electronic goods and certainly grow as efficient and cost-effective machines for electricity generation. For instance, in April 2022, according to the India Cellular & Electronics Association (ICEA), India has the potential to reach a value of US$ 100 billion in laptop and tablet manufacturing by 2025. Smartphone shipments increased by 11% year on year in 2021, with 169 million units shipped. India's smartphone market revenue will surpass US$ 38 billion in 2021, representing a 27% year-on-year increase, with Xiaomi leading the way with a 24% shipment share. Therefore, the growing demand from end-users for consumer electronics will drive the portable generators market. Major companies operating in the portable generators market include YellowScan, Kohler Co., General Electric Company, Caterpillar Inc., Cummins Inc., Honeywell International Inc., Generac Power Systems Inc., Eaton PLC, Briggs & Stratton Corporation, Atlas Copco (India) Ltd., WackerNeuson SE., WIN Co., Harrington Generators International Ltd., Multiquip Inc., Kirloskar Electric Co. Ltd., Stanley Black & Decker Inc., STEPHILL GENERATORS Ltd., Techtronic Industries Co. Ltd., Honda Power Equipment, WEN Products, Westinghouse Electric Corporation, DuroMax Power Equipment, Firman Power Equipment, Doosan Portable Power, Ingersoll Rand, Himoinsa S.L., Pramac Co., Ryobi Limited, DeWalt Inc., Greenworks Tools, ECHO Incorporated, Lifan Power USA, All Power America LLC

Growth Of Bi-Fuel Portable Generators

The use of bi-fuel portable generators is a key trend gaining popularity in the portable generators market. Portable generator manufacturers have been working on technological advancements to help develop bi-fuel technology. Bi-fuel portable generators provide fuel efficiency by making use of two fuel types, generally utilizing both diesel and natural gas, providing extended running times and significant reliability. These generators are scalable and reduce the costs of storing and managing large quantities of diesel fuel. Furthermore, governments are implementing strict regulations primarily for diesel fuel-powered engines. Bi-fuel portable generators are more environmentally friendly emitting far less NOx and particulate matter than a standard diesel generator. For instance, Generac’s Bi-Fuel are EPA certified and emit about 30% fewer nitrogen oxides and 50% less particulate matter than comparable diesel-only units.

Innovative Technologies In Portable Generators Market

Major companies operating in the portable generators market are focused on developing new patented technologies to decrease charging time, meet consumer demand, and strengthen their market position. A mini portable power station is a compact and lightweight device that provides a portable power source for various applications. For instance, in September 2021, EcoFlow, a US-based portable power and renewable energy solutions provider, launched the DELTA mini portable power station, the world's smallest, most portable, and most affordable portable power station. The patented X-Stream AC fast recharge technology can rapidly charge devices, with the ability to charge from 0% to 80% within just one hour and reach 100% charge in 1.6 hours when using standard AC outlets. This stands out as the fastest charging speed currently offered in the market. Furthermore, the DELTA mini includes a built-in smart inverter or adapter, eliminating the necessity for consumers to carry an additional charger brick.

SimpliPhi Power Acquires Briggs & Stratton To Enhance Portable Generator Product Portfolio

In September 2021, SimpliPhi Power, a US-based company operating in distributed battery energy storage provider acquired Briggs & Stratton for an undisclosed amount. Through this acquisition, SimpliPhi Power aims to strengthen its product portfolio in portable generators. Briggs & Stratton Corporation is a US-based gasoline engine and portable generators. Asia-Pacific was the largest region in the portable generators market in 2023. North America was the second largest region in the electrical and electronics market. The regions covered in the portable generators market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the portable generators market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The portable generator market consists of sales of air cooled generator set, PTO generator, electric start generator, digital inverter generator. 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 portable generator market research report is one of a series of new reports from The Business Research Company that provides portable generator market statistics, including portable generator industry global market size, regional shares, competitors with a portable generator market share, detailed portable generator market segments, market trends and opportunities, and any further data you may need to thrive in the portable generator industry. This portable generator 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.

Electric Generators Market Definition And Segments

The electric generator is defined as a device that converts mechanical energy into electrical energy for applications in external circuits. A generator uses mechanical energy such as steam, gas, and water to convert it into electrical energy for an uninterrupted power supply. The main types of electric generator manufacturing are gas generator, diesel generator, and CKD generator. A gas generator is a device which burns gas to generate electricity. Many hardware and home supply stores stock small gas generators, and larger versions are available from specialty companies and electricians who specialize in generator installation, maintenance, and repair. It is also possible to build a custom gas generator for a highly specialized application, such as supplying stable power to a server farm in a blackout. The various capacities of electric generator are below 75 KVA (kilo-volt-amperes), 75-375 KVA, 375-750 KVA, and above 750 KVA that are used for standby, peak shaving, and continuous application. The electric generators are used by mining, oil and gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, and other end users. The electric generators market covered in this report 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 & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Other End-Users The electric generators market size has grown steadily in recent years. It will grow from $29.69 billion in 2023 to $31.11 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to increasing industrial activities and urban development, fluctuations in energy demand and supply, government regulations and policies, economic factors, the adoption of sustainable fuels. The electric generators market size is expected to see steady growth in the next few years. It will grow to $36.68 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to transition to renewable energy, electrification of transportation, distributed energy systems, the increasing deployment of energy storage solutions, emphasis on resilience and grid independence. Major trends in the forecast period include the trend towards hybrid power systems, rise of energy-as-a-service models, the integration of digitalization, IoT, and smart grid technologies, innovations in generator technology.

Growing Industrial Demand Drives Generator Manufacturing Market

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, majority of the mining sites are in remote locations and require generators for their day-to-day power requirements. For instance, at the end of fiscal year 2020, the growth rate in the production of mining industry across India was about 1.6%. Preliminary data for the fiscal year 2021 indicates a dramatic deacceleration of the mining industry production growth rate. Economic growth in emerging markets is increasing the industrial activity which in turn will drive the market for generators in the forecast period.

Power Outages Driving Growth In Electric Generator Market

The rise in instances of power outages is expected to propel the growth of the electric generator market going forward. A power outage is a temporary loss of electrical power in an area. The deferred maintenance and insufficient investments in upgrades can make the grid more vulnerable to outages. Electric generators are used in power outages to provide backup power to businesses and critical infrastructure such as hospitals to avoid disruptions and maintain operations. For instance, in November 2023, according to The Good Food Institute, a US-based non-profit organization, the US retail sales of plant-based foods increased by 7% from 2021 to $8.0 billion in 2022. Therefore, the rise in instances of power outages is driving the growth of the electric generator market. Major companies operating in the electric generators market report are Aggreko; Atlas Copco; Caterpillar Inc.; FG Wilson; Kirloskar Electric Co. Ltd.; Cummins Inc.; Rolls-Royce Power Systems; Wärtsilä; Yanmar Co. Ltd.; Briggs & Stratton; Himoinsa; Wacker Neuson; Ingersoll Rand; Kohler-SDMO; Generac Power Systems; Mitsubishi Heavy Industries; MTU Onsite Energy; General Electric; Honda Siel Power Products Ltd; Inmesol S.L; MQ Energy Inc.; Mahindra Powerol; AKSA Power Generation; Honda Power Equipment; Powerica Ltd.; Escorts Group; Kohler Co.

Government Initiatives For Energy Infrastructure Maintenance To Impact Generator Market

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 March 2021, government agencies are responsible for building maintenance (upkeep and repair), as well as minor repairs that improve the function, safety, and appearance of buildings. Governments in both developed and developing countries are focusing on building and maintaining a robust energy infrastructure, and it is expected to limit the growth of the generator manufacturing market.

Rising Demand For Portable Generators Drives Market Growth

Generator manufacturing companies are increasingly manufacturing portable generators. A Portable generator provides electricity by running a gas-powered/diesel-powered engine that turns an on-board alternator to generate electrical power. 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.

Innovative Solutions In The Electric Generator Market

Major companies operating in the electric generator market are focusing on developing innovations such as hydrogen fuel cell generators to provide reliable services to customers. These devices produce electricity through chemical reactions, utilizing high-purity hydrogen and oxygen from the atmosphere. For instance, in October 2021, Panasonic Corporation, a Japan-based manufacturer of electric appliances and consumer electronics products, launched a 5 kW type pure hydrogen fuel cell generator. It generates electricity through a chemical reaction between hydrogen and oxygen, producing only water as a byproduct, making it an emission-free solution. It is a single unit that generates 5 kW and is suitable for small-scale commercial facilities. Additionally, multiple units can be connected and controlled together to meet higher power demands, reaching up to a megawatt total size.

WEG Industries Acquires Industrial Electric Motors And Generators Business From Regal Rexnord Corporation

In September 2023, WEG Industries, a Brazil-based provider of motors and generators, acquired the industrial electric motors and generators business from Regal Rexnord Corporation for $400 million. Through this acquisition, WEG aimed to strengthen its position in the global market for electric motors and generators by incorporating recognized brands and complementary products from Regal Rexnord. Regal Rexnord Corporation is a US-based manufacturer of electric motors and power transmission components. Asia-Pacific was the largest region in the electric generator market in 2023. Western Europe was the second-largest region in the electric generator market. The regions covered in the electric generator market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric generator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea,; UK, USA, Canada, Italy, Spain. The electric generator market consists of sales of gas generators, diesel generators, and other electric generators. This market excludes turbine generators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified). The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The electric generator manufacturing market research report is one of a series of new reports from The Business Research Company that provides electric generator manufacturing market statistics, including electric generator manufacturing industry global market size, regional shares, competitors with an electric generator manufacturing market share, detailed electric generator manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the electric generator manufacturing industry. This electric generator manufacturing 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