Press Release: December 14, 2018
The global motor and generator manufacturing market, one of the segments in the electrical and electronics manufacturing industry, grew at a compound annual growth rate (CAGR) of around 5.9% during the historic period. This mainly due to increasing sales of automobiles and rising disposable income.
In the forecast period, the motor and generator manufacturing market size is expected to be over $138.5 billion by 2021, growing at a CAGR of nearly 4.5%. The growth rate in the forecast period is lower when compared to the historic period. This is mainly attributed to fluctuating prices of raw materials.
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Motors and generators manufacturers are deploying predictive maintenance technologies to minimize breakdowns in manufacturing facilities. Predictive maintenance techniques determine the condition of equipment and predict failures that may occur. Various techniques used for predictive maintenance include vibration analysis, ultrasound, wear particle analysis and thermography. Use of smart sensors is another such technique that picks up data on certain parameters to reduce the chances of failure.
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