Energy-Efficient Motor Market Size & Industry Analysis

 

Energy Efficient Motor Market

The Energy Efficient Motor Market is expected to grow at a higher CAGR over the forecast period (2020-2027).

The factors driving the growth of Energy Efficient Motor Market includes growing emphasis on reducing greenhouse gas emissions, expansion of the automobile industry, increasing application of energy efficient motors in HVAC and domestic appliances and rising LED penetration around the world. According to the report published by Statista, the revenue generated from the sales of passenger cars in India is calculated around USD 16.14 billion for 2022 and the market volume of Passenger Cars is estimated to reach USD 17.25 billion by the end of 2026, which will boost the Energy Efficient Motor Market size in the approaching years. Moreover, the rising application of energy efficient motors in agricultural activities, increasing energy prices across the globe, improvements in design methods of motors and Government regulations mandating the use of energy efficient motors, are some of the additional factors supplementing the market growth. In addition, technological advancements in motors, increasing investments by leading players on research and development and rapid urbanization, are further contributing to the market growth.

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However, the growth of Energy Efficient Motor Market is hindered due to insufficient knowledge about energy efficient motors.

The prominent players operating in the Energy Efficient Motor Market includes Rockwell Automation Inc, CG Power and Industrial Solutions Limited, Bosch Rexroth AG, ABB, Siemens AG, General Electric Company, Schneider Electric, Kirloskar Electric Motors, Nidec Motor Corporation, and Honeywell International, Inc.

Application: Segment Analysis

Based on Application, the Heating, Ventilation, and Air Conditioning (HVAC) segment is estimated to expand at a significant CAGR over the forecast period. The HVAC systems can be easily installed in the building, reduces the utility bills, and can provide effective cooling even in large spaces, are some of the features responsible for the segment’s growth.

Vertical: Segment Analysis

As per the Energy Efficient Motor Market Forecast, the Transportation segment is predicted to grow at a remarkable CAGR over the forecast period attributed to emerging need to optimize the fuel cells in vehicles.

Regional: Segment Analysis

Based on Region, the North American region is estimated to capture the largest market share during the forecast period. Growing focus on reducing the effect of greenhouse gasses, Government policies to boost the production of automobiles, rising adoption of technologically advanced motors by major corporations and high per capita incomes, are some of the important factors augmenting the market growth in North America.

Market Segmentation

by Installation

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

by Efficiency Level

  • IE4
  • IE3
  • IE2
  • IE1

by Motor

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

by Application

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

by Vertical

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

by Region     

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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