The motor and generator sales in the US have experienced a general downward trend from 2013 to 2023, moving from $10.23 billion in 2013 to $7.9929 billion in 2023. Year-on-year percentage variations indicate consistent declines, predominantly ranging from -1.57% to -9.46% annually. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 shows an average negative growth of -1.59% per year.
Looking ahead, projections for 2024 to 2028 continue to show declines, with the anticipated CAGR being -1.38%, culminating in an expected market value of $7.3257 billion by 2028. This represents a forecasted five-year growth rate of -6.71%.
Future trends to keep an eye on include technological advancements in renewable energy sources, changes in industrial demand, and potential economic fluctuations that might disrupt the steady decline observed in the motor and generator market.
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