In 2023, Germany led with a turnover of €15.65 billion in the European electric motors, generators, and transformers sector, showing a slight decline of 1.12% from the previous year. Spain and the UK displayed marginal growth at 0.2% and 0.00089%, respectively, while Italy experienced a significant decline at -8.35%. Emerging markets like Poland and Hungary impressed with growth rates of 3.92% and 3.35%. Serbia exhibited remarkable progress with a 10.95% increase, highlighting the region's diverse market dynamics.
- Future trends to watch:
- Expansion of renewable energy sources driving demand for generators.
- Increased adoption of electric vehicles boosting electric motor turnover.
- Technological advancements enhancing transformer efficiency.
- Potential regulatory impacts from the EU Green Deal initiatives.
- Growing investments in smart grid technologies across Europe.
Top countries in Electric Motors, Generators, Transformers Turnover by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 15,650 | 2023 | +4.29% | -1.12% | View data |
| 2 | 2 Spain | 6,080 | 2023 | +2.52% | +0.2% | View data |
| 3 | 3 Austria | 4,570 | 2023 | -0.8% | -1.23% | View data |
| 4 | 4 United Kingdom | 4,490 | 2023 | +1.43% | +0.00089% | View data |
| 5 | 5 France | 4,200 | 2023 | +0.31% | +0.018% | View data |
| 6 | 6 Italy | 3,380 | 2023 | -7.07% | -8.35% | View data |
| 7 | 7 Czech Republic | 3,230 | 2023 | +4.31% | +0.65% | View data |
| 8 | 8 Finland | 2,960 | 2023 | -0.24% | -0.035% | View data |
| 9 | 9 Poland | 2,110 | 2023 | +3.58% | +3.92% | View data |
| 10 | 10 Denmark | 1,010 | 2023 | +1.61% | +0.73% | View data |
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