According to Cognitive Market Research, the global Electrical Machine market size was USD 1525451.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 610180.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 457635.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 350853.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 76272.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 30509.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.
The wiring devices category is the fastest growing segment of the Electrical Machine industry
