About Electrical Machinery
The global electrical machinery market is expected to grow at a healthy pace during the forecast period, according to the AMA study. Increasing demand for automation and rapid expansion of industries such as increasing production capacity of facilities are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness some decline in the growth for the next few months due to the current pandemic but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on developing innovative products & solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Electrical Machinery market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Allied Motion Technologies (United States), Arc System Works (Japan), ASMO CORPORATION (Japan), Brook Crompton (United Kingdom), Franklin Electric (United States), General Electric (United States), Robert Bosch Gmbh (Germany), Rockwell Automation (United States), SEC Electric Machinery Co (China), Siemens (Germany), Toshiba (Japan) and WEG Industries (Brazil) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Electrical Machinery market by Type (Generation Machinery, Transmission Machinery, Distribution Machinery and Others), Application (DC Applications, AC Applications and Others) and Region.
On the basis of geography, the market of Electrical Machinery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Power Source, the sub-segment i.e. Thermal will boost the Electrical Machinery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Semi-Automatic will boost the Electrical Machinery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Industry 4.0 is One of the Major Trends for the Market
Market Growth Drivers:
Growing Automation Across Different Industries such as Manufacturing & Industrial Sector and Rising Expansion of Industries such as Development of New Manufacturing Facilities & Expansion of Plat Capacities Across the World
Challenges:
High Cost of Product
Restraints:
Short Term Restraint for the Market Due to Shutting Down of Operations & Process of Different Companies Across Different Parts of the World Due to COVID-19 Pandemic
Opportunities:
Opportunities in the Asia Pacific Region
Market Leaders and their expansionary development strategies
In August 2022, Baker Hughes Acquires Power Generation Division of BRUSH Group. This acquisition, Enhance its Electric Machinery Portfolio.
In June 2023, The first two Volvo CE electric machines to launch in Japan are the L25 Electric compact wheel loader and ECR25 Electric compact excavators. Both machines were unveiled to visitors at the 5th Construction & Survey Productivity Improvement Expo (CSPI-EXPO) held in Tokyo this past May. Over 100 guests, including media, show attendees, Volvo CE leadership and local partner companies gathered to witness the landmark event.
Stringent Worldwide Government Regulations Regarding Lockdown of Cities' & States' Operations Leading to Delay in the Developments in the Electric Machinery Technologies
Key Target Audience
Supplier, Manufacturer, Goverment Regulatory, Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.