In 2024, Germany leads European production of electric motors, generators, and transformers with a production value of €15.49 billion, showing a 2.6% increase from the previous year. Spain ranks second with €6.12 billion, followed by the United Kingdom at €5.18 billion, both of which experienced year-on-year growth of 1.92% and 1.23%, respectively. France and Austria complete the top five, with Austria facing a decline of 6.48% in 2023. Notable growth was seen in Hungary (3.62%), Poland (3.45%), and Croatia (4.81%), while significant declines were observed in Italy (-9.0%) and Belgium (-16.64%).
Future trends to watch for include the impact of advancements in renewable energy integration, the push for sustainable manufacturing practices, and increased investments in R&D across Europe. Countries like Serbia, with a substantial growth rate of 9.75%, indicate emerging markets to keep an eye on, while stability in major markets such as Germany will continue to shape the industry's landscape.
Top countries in Electric Motors, Generators, Transformers Production Value by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 15,490 | 2023 | +4.83% | +2.6% | View data |
| 2 | 2 Spain | 6,120 | 2023 | +5.02% | +1.92% | View data |
| 3 | 3 United Kingdom | 5,180 | 2023 | +2.24% | +1.23% | View data |
| 4 | 4 France | 3,710 | 2023 | +0.54% | +1.61% | View data |
| 5 | 5 Austria | 3,460 | 2023 | -3.43% | -6.48% | View data |
| 6 | 6 Italy | 3,310 | 2023 | -7.98% | -9% | View data |
| 7 | 7 Finland | 3,150 | 2023 | +0.75% | +1.29% | View data |
| 8 | 8 Czech Republic | 2,780 | 2023 | +4.46% | +0.91% | View data |
| 9 | 9 Poland | 1,930 | 2023 | +6.41% | +3.45% | View data |
| 10 | 10 Denmark | 999.3 | 2023 | +1.93% | +0.59% | View data |
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