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Jan 23, 2021 (Heraldkeepers) —
Motors And Generators Market: WiseGuyReports.com adds “Global Motors And Generators Market Research Report 2021 Analysis and Forecast 2027” reports to its database. Executive Summary
The motors and generators market consists of sales of motors, generators, and related services. The motor converts electrical energy into mechanical energy and the generator converts mechanical energy into electrical energy. The global motors and generators market reached a value of nearly $86.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of .97% since 2015, and is expected to grow at a CAGR of 3.52% to nearly $99.7 billion by 2023. The motors and generators market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific was the largest region in the motors and generators manufacturing market in 2019. The motors and generators market covered in this report is segmented by type into motor manufacturing, generator manufacturing and by end-user into industrial, commercial, residential. Get Sample Copy of the Report @ https://www.wiseguyreports.com/sample-request/5047020-motors-and-generators-global-market-report-2020-including Increasing use of household appliances is expected to contribute to 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, the global household appliances manufacturing market is expected to grow from $283.8 billion in 2018 to $396.2 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. 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 hindered the market for household fans. For instance, in 2018, USA imposed a 25% and 10% tariffs on the import of steel and aluminum respectively. An increase in tariffs will increase operating expenses, thereby restraining the growth of the 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 on-board 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. In February 2018, Generac Holdings Inc, an engine equipment manufacturing company bought Selmec Equipos Industriales for an undisclosed amount. Through this acquisition, Generac Holdings aims to scale up its ottomotors business. Selmec is a leading Mexico based manufacturer of industrial generators. Major players in the market are Siemens AG, ASMO, Rockwell Automation, Emerson Electric Co, ABB Ltd., Nidec, General Electric Co, Baldor Electric Co., Danahar Motion LLC and Krollmorgen Corp.
Motors And Generators Market Global Report 2020 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global motors and generators market. Continuous… For further information on this report, visit -https://www.wiseguyreports.com/reports/5047020-motors-and-generators-global-market-report-2020-including Contact US: Wiseguy Research Consultants info@wiseguyreports.com sales@wiseguyreports.com +44 203 500 2763 +1 62 825 80070
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The MarketWatch News Department was not involved in the creation of this content.
