Industry revenue of »manufacture of electric motors, generators« in Estonia 2011-2023

After witnessing only tepid growth between 2011-2015, revenues of the Estonian manufacture of electric motors, generators, transformers and electricity distribution and control apparatus industry are projected to grow from 478 million U.S. dollars in 2015 to over 700 million U.S. dollars by 2023. This can be attributed to the production efficiency, growing foreign investments, and the rapid adaption of automation facilities in the sector. Additionally, growth in the construction sector has augured well for the industry, as it is amongst the major consumers of motors and generators.

Amongst the two segments, majority of the revenue is generated from the manufacture of electric motors, generators and transformers whilst manufacture of electricity distribution and control apparatus accounts for a comparatively smaller share. As of 2019, the country exported electric motors and generators worth 48 million U.S. dollars, with Finland, Germany and Russia being the leading destinations, according to data from trendeconomy.com. During the same period, imports were valued at 20 million U.S. dollars, leading to a positive trade surplus.

Interestingly, in majority of the European nations including Latvia, Italy, Sweden, Czech Republic, and Norway, to name a few, the industry revenues are witnessing a decline, with major reasons being the cost overruns and declining investments.

Industry revenue of »manufacture of electric motors, generators« in Estonia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Estonia. The industry “manufacture of electric motors, generators, transformers and electricity distribution and control apparatus“ has the code “C271“.

Details on the methodology can be found here.

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