A new report from Transparency Market Research, titled ‘Electric Motor and Generator Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,’ states that the global electric motor and generator market is predicted to expand rapidly during the period between 2013 and 2019 owing to the increasing use of electric motors and generators across various industries.
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Electric motors and generators either convert applied kinetic energy into electrical energy or electrical energy into forces. Any motor can be operated as an electric generator and vice-versa. They are always optimized for a particular application.An electric motor and generator assembly, also known as a dynamometer, is a setup primarily used for converting electric energy into various other forms of energy. These electric motors and generators are widely used to convert and regulate the voltage, frequency, and power phases of electricity. The motor generator assembly can be an individual or separate component or a single setup with the generator and rotor coils wound around a single rotor. The assembly type depends primarily on its application.
The global electric motor and generator market is one of the fastest growing markets across the globe. Leading players in the global electric motor and generator market offer a wide variety of electric motors and generators that are used primarily for household appliances such as refrigerators, automatic dishwashers, microwave ovens, and freezers. Apart from this, electric motors and generators are also used for other products that require a low-horsepower motor, including disk drives. Integral motors are primarily used in industries where greater horsepower is required. The global electric motor and generator market is divided by geography into Europe, Asia Pacific, North America, and Rest of the World. Developing countries in the Asia Pacific region are predicted to contribute towards the growth of the global electric motor and generator market in the years to come.
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Factors such as the economic crises in recent years and price fluctuations are expected to hamper the growth of the global electric motor and generator market in the years to come. However, leading players are focusing on the introduction of modern electric motors and generators to match the changing trends. Mergers, acquisitions, and partnerships between new entrants and leading players are predicted to further propel the global electric motor and generator market during the period from 2013 and 2019.
Innovations and developments have helped leading players manufacture high-quality electric motors and generators over the past few years. Companies such as Emerson Electric, Baldor Electric Co., Ingersoll-Rand, General Electric Co., and Krollmorgen Corp. are expected to dominate further in the global electric motor and generator market with their innovations.
The global electric motor and generator market is highly competitive and spread across the globe with leading players covering all regions. Technological advancements and support from the governments of various countries are expected to contribute towards the growth of the global electric motor and generator market in the years to come.