Global Energy Efficient Motor Market, By Installation Type (Open Drip Proof Motor and Totally Enclosed Fan Cooled Motor), Efficiency Level (IE4, IE3, IE2 and IE1), Motor Type (AC Motors and DC Motors), Application (Heating, Ventilation and Air Conditioning, Pumps, Fans, Compressors, Refrigeration, Material Handling and Material Processing), End-User (Residential, Transportation, Agriculture, Aerospace and Defense, Commercial Buildings and Industrial), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
The energy efficient motor market is expected to witness market growth at a rate of 6.16% in the forecast period of 2022 to 2029. Data Bridge Market Research report on biometric system market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications globally is escalating the growth of energy efficient motor market.
Energy efficient motors refer to the type of motors that have features with superior materials and improved manufacturing techniques. These motors tend to have higher service factors, lower waste heat output, longer bearing lives, and less vibration. These motors achieve greater efficiency by declining the losses which account for only 3-6% of the energy that generally flows through the motor.
The rise in emphasis on the adoption of green technologies across the globe acts as one of the major factors driving the growth of energy efficient motor market. The enforcement of laws and regulations associated with the environment, such as Environment Protection Act (EP Act), and conservation of non-renewable energy accelerate the market growth. The introduction of VSD that help in optimizing the efficiency of the entire system and adoption of the motors for enhancing production capacity while simultaneously minimizing errors and hazardous environmental effects further influence the market. Additionally, rapid technological advancements, rapid urbanization and increase in adoption owning to the high tolerance for overload conditions positively affect the energy efficient motor market. Furthermore, continuous innovation in this technology to reduce the consumption of electricity extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, high initial investment and lack of awareness amongst the public are expected to obstruct the market growth. The stringent regulations are projected to challenge the energy efficient motor market in the forecast period of 2022-2029.
This energy efficient motor market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info energy efficient motor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Energy Efficient Motor Market Scope and Market Size
The energy efficient motor market is segmented on the basis of installation type, efficiency level, motor type, application and end-use vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of installation type, the energy efficient motor market is segmented into open drip proof motor and totally enclosed fan cooled motor.
- On the basis of efficiency level, the energy efficient motor market is segmented into IE4, IE3, IE2 and IE1.
- On the basis of motor type, the energy efficient motor market is segmented into AC motors and DC motors. AC motors are further segmented into induction motors and synchronous motors. DC motors are further segmented into brushed DC motors and brushless DC motors.
- On the basis of application, the energy efficient motor market is segmented into heating, ventilation and air conditioning, pumps, fans, compressors, refrigeration, material handling and material processing.
- On the basis of end-use vertical, the energy efficient motor market is segmented into residential, transportation, agriculture, aerospace and defense, commercial buildings and industrial. Transportation is further segmented into automotive, railways and marine. Commercial buildings are further segmented into retail, cold storage and warehouse, information technology park, banking and financial institutions, hospitals and others.
Energy Efficient Motor Market Country Level Analysis
The energy efficient motor market is analysed and market size, volume information is provided by country, installation type, efficiency level, motor type, application and end-use vertical as referenced above.
The countries covered in the global energy efficient motor market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the energy efficient motor market due to the increased the concern about the efficient use of energy within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the several measures taken by the Department of Energy (DOE) from various countries in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Energy Efficient Motor Market Share Analysis
The energy efficient motor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to energy efficient motor market.
Some of the major players operating in the energy efficient motor market report are Bosch Rexroth, AG Regal, Beloit Corporation, General Electric Microchip Technology, Inc., Johnson Controls Inc., ABB Ltd., Crompton Greaves, Marathon Electric, Schneider Electric SE, Honeywell International, Inc., Baldor Electric Company, Siemens AG, Emerson Electric Company, Kirloskar Electric Company Ltd., and Magneteck, Inc., among others.