Energy Efficient Motor Market

Energy Efficient Motor Market was valued at USD 32 billion in 2019 and is expected to register a CAGR of 6.1% during the forecast period.

Energy Efficient Motor Market Overview

Motors are often used as a part of multiple divisions where mechanical energy is required. It is an energy-efficient device that converts electrical energy into rotary energy. With the passing years, there has been continuous innovation in technology, which is leading to the transformation of traditional motors to energy-efficient motors. Energy-efficient motors provide the same productivity as electric motors, although they consume less energy than the conventional motors and provide enhanced quality. These efficient motors are used for multiple mechanical applications such as material, paper, cranes, concrete, machine devices, blowers, and others. Moreover, the electric motors are extensively used in industrial, commercial, and residential sectors.

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Major Energy Efficient Motor Market Drivers

The key factors proliferating the growth of the global energy efficient motor market include the rising support of the government for the adoption of energy-efficient motors, increasing need to reduce energy consumption by industries, and growing need to reduce the greenhouse effect. Additionally, increasing awareness about energy conservation is propelling industries to adopt energy-efficient and eco-friendly solutions for multiple technologies and business processes. Moreover, most of the industrial end-users are switching from general motors to energy-efficient motors, which enables countries to conserve natural energy resources, reduce the greenhouse effect, and harmful emission. Therefore, acting as a major driver for the growth of the energy efficient motor market globally. The rapid adoption of energy-efficient solutions is one of the key trends observed in the global Energy Efficient Motor market. While converting electrical energy into mechanical energy, some of the energy is lost as waste heat. Also, many times not all the energy goes into the motor, which is then converted into usable mechanical energy, resulting into huge overall waste. Therefore, replacing traditional motors with energy efficient motors reduces losses and electricity of more than 25 percent. The energy efficient motors have a minimal failure rate and high overload conditions, it makes them suitable for a wide range of applications. All these factors are energizing the demand of the market in the coming years.

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Based on the efficiency type, the market is divided into IE4, IE3, IE2, and IE1. Among them, the IE4 segment is predicted to observe a higher CAGR during the forecast period. IE4 motors offer higher efficiencies due to the usage of high-quality materials and optimization of the design and assembly of the motors. It also reduces winding losses, which is further propelling the demand of the segment. On the basis of the motor, the market is segmented into AC motors and DC motors. Among them, the AC motor category is expected to grow at a higher CAGR during the forecast period due to the rising concern of industries and government over carbon emissions. In addition to this, the increasing utilization of power is accelerating the development of energy-efficient AC motors. Based on the application, the market is segmented into HVAC, fans, pumps, compressors, refrigeration, material handling, and material processing. The HVAC segment is expected to witness a higher CAGR during the forecast period. The energy efficient motors provide higher efficiency in limited horsepower. It is highly cost-effective, scatters less amount of heat when used in air conditioning systems. All these factors are driving the demand of the segment. On the basis of vertical, the market is bifurcated into residential, transportation, agriculture, aerospace and defense, commercial buildings, and industrial. Among these, the transportation sector would register a faster CAGR attributed to the high demand for optimizing the fuel-cell system for a higher efficiency of vehicles. Moreover, the companies in the automotive sector are continuously working to offer innovative, cost-effective, and efficient solutions to customers, which is further accelerating the demand for energy efficient motors in the automotive sector.

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Regional – Segment Analysis

On the basis of region, the North America region is anticipated to dominate the market over the forecast period. This is due to the increasing emphasis of the government of various countries, such as the U.S. and Canada to reduce the greenhouse effect. Moreover, continuous technological advancement in this region among different industries is further fuelling the growth of the market in North America. On the other hand, the Asia-Pacific region is expected to witness a faster CAGR attributed to the easy availability of a large amount of natural resources and skilled workforce at low wages. The major players in the market include ABB, Siemens AG, General Electric Company, Schneider Electric, Nidec Motor Corporation, Rockwell Automation Inc, CG Power and Industrial Solutions Limited, Bosch Rexroth AG, Kirloskar Electric Motors, and Honeywell International, Inc.

Key Developments

• • In June 2019, Honeywell International Inc, partnered with DENSO, a global automotive powerhouse. In this partnership, both companies worked together for the development of fully-electric and hybrid-electric propulsion system. The primary application of these systesm is to lighten the load of ground traffic through the utilization of aircraft and urban air mobility.
  • In January 2017, Siemens AG launched a new range of energy efficient motor named SIMOTICS 1LE7. The motor offers an average monitory saving of around 7-18 percent, depending on frame size. SIMOTICS 1LE7, also assists customers to reduce lifecycle cost and meets environmental regulations.

Segments covered in the Report:

The global Energy Efficient Motor market has been segmented on the basis of installation, efficiency level, motor, application, vertical, and region. Based on installation, the market is segmented into open drip proof (ODP) motor and totally enclosed fan cooled (TEFC) motor. Based on efficiency level, the market is segmented into IE4, IE3, IE2, and IE1. Based on motor, the market is segmented into AC motors, and DC motors. Based on application, the market is segmented into HVAC, fans, pumps, compressors, refrigeration, material handling, and material processing. Based on vertical, the market is segmented into residential, transportation, agriculture, aerospace and defense, commercial buildings, and industrial.

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Key questions answered in this research report:

• • At what pace is the global Energy Efficient Motor market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Energy Efficient Motor market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Energy Efficient Motor market?
  • Which motor generated maximum revenues in 2019 and identify the most promising motor during the forecast period?
  • What are the various application areas of the global Energy Efficient Motor market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Energy Efficient Motor Market by Installation

• • Open Drip Proof (ODP) Motor
  • Totally Enclosed Fan Cooled (TEFC) Motor

Global Energy Efficient Motor Market by Efficiency Level

• • IE4
  • IE3
  • IE2
  • IE1

Global Energy Efficient Motor Market by Motor

• • AC Motors
    • Induction Motors
    • Synchronous Motors
  • DC Motors
    • Brushed DC motors
    • Brushless DC motors

Global Energy Efficient Motor Market by Application

• • Heating, Ventilation, and Air Conditioning (HVAC)
  • Fans
  • Pumps
  • Compressors
  • Refrigeration
  • Material Handling
  • Material Processing

Global Energy Efficient Motor Market by Vertical

• • Residential
  • Transportation
  • Agriculture
  • Aerospace and Defense
  • Commercial Buildings
  • Industrial

Global Energy Efficient Motor Market by Region

• • North America Energy Efficient Motor Market (Option 1: As a part of the free 25% customization)

    • North America Energy Efficient Motor Market by Installation
    • North America Energy Efficient Motor Market by Efficiency Level
    • North America Energy Efficient Motor Market by Motor
    • North America Energy Efficient Motor Market by Application
    • North America Energy Efficient Motor Market by Vertical
    • US Energy Efficient Motor Market All-Up
    • Canada Energy Efficient Motor Market All-Up

• • Europe Energy Efficient Motor Market (Option 2: As a part of the free 25% customization)

    • Europe Energy Efficient Motor Market by Installation
    • Europe Energy Efficient Motor Market by Efficiency Level
    • Europe Energy Efficient Motor Market by Motor
    • Europe Energy Efficient Motor Market by Application
    • Europe Energy Efficient Motor Market by Vertical
    • UK Energy Efficient Motor Market All-Up
    • Germany Energy Efficient Motor Market All-Up
    • France Energy Efficient Motor Market All-Up
    • Spain Energy Efficient Motor Market All-Up
    • Rest of Europe Energy Efficient Motor Market All-Up

• • Asia-Pacific Energy Efficient Motor Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Energy Efficient Motor Market by Installation
    • Asia-Pacific Energy Efficient Motor Market by Efficiency Level
    • Asia-Pacific Energy Efficient Motor Market by Motor
    • Asia-Pacific Energy Efficient Motor Market by Application
    • Asia-Pacific Energy Efficient Motor Market by Vertical
    • India Energy Efficient Motor Market All-Up
    • China Energy Efficient Motor Market All-Up
    • Japan Energy Efficient Motor Market All-Up
    • Rest of APAC Energy Efficient Motor Market All-Up

• • ROW Energy Efficient Motor Market (Option 4: As a part of the free 25% customization)

    • RoW Energy Efficient Motor Market by Installation
    • RoW Energy Efficient Motor Market by Efficiency Level
    • RoW Energy Efficient Motor Market by Motor
    • RoW Energy Efficient Motor Market by Application
    • RoW Energy Efficient Motor Market by Vertical
    • Brazil Energy Efficient Motor Market All-Up
    • South Africa Energy Efficient Motor Market All-Up
    • Saudi Arabia Energy Efficient Motor Market All-Up
    • UAE Energy Efficient Motor Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Energy Efficient Motor Market All-Up

Global Energy Efficient Motor Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB
  • Siemens AG
  • General Electric Company
  • Schneider Electric
  • Nidec Motor Corporation
  • Rockwell Automation Inc
  • CG Power and Industrial Solutions Limited
  • Bosch Rexroth AG
  • Kirloskar Electric Motors
  • Honeywell International, Inc.