The global motor generator set market is expected to be valued at USD 2.6 billion in 2022, with strong demand anticipated throughout the assessment period. This demand is fueled by a growing emphasis on energy efficiency, leading to a projected market value of USD 4.5 billion by 2033, reflecting a CAGR of 5.3% from 2023 to 2033. Additionally, the market is forecasted to achieve USD 2.7 billion in 2023.
To mitigate the impact of power outages on daily business operations, motor generator sets are increasingly utilized to ensure a continuous electricity supply. While diesel generator sets are generally more affordable, gas generator sets are anticipated to achieve a higher penetration rate, further expanding the market share for motor generator sets.
The demand for motor generator sets is also bolstered by their applications in welding and induction heating, particularly within the automotive and electrical industries. Their capability to provide the required output voltage and frequency enhances the overall market size for motor generator sets.
A motor generator set (M-G set) combines an electric generator and a motor, serving as a critical component in many power-driven systems, such as windmills and rail systems. It converts the frequency and voltage of an electrical power source to meet the specific needs on the load side. The continuous operation of an AC motor drives a DC generator, enabling the seamless operation of connected machinery or equipment.
Motor-generator sets supply electrical power on demand, functioning as backup power sources during emergencies or for remote locations, medical facilities, and data processing units. They are also employed in various commercial applications requiring independent or remote power sources. A specific type of motor generator set, the flywheel motor generator set, provides power to coil launchers.
Key market players
- Emerson Electric
- The Horlick Company
- Baldor Electric Co.
- Ingersoll-Rand
- General Electric Co
- Krollmorgen Corp.
- ABB Inc.
- Allied Motion Inc.
- Cummins Inc.
- Kirloskar Oil Engines
- Kohler Co.
- Yamaha Motor
- Powerica
- Escorts
- Sterling & Wilson
- HIMOINSA
- Caterpillar Inc.
- Trane Technologies
- Mahindra Powerol
- Atlas Copco AB
Key Segments
By Type:
- DC to AC Motor Generator Set
- AC to DC Motor Generator Set
By Application:
- Industrial
- Automotive Industry
- Electrical and Electronic Industry
- Energy/Oil/Power Industries
- Metal & Mineral Industry
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/motor-generator-set-market
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