Global Market for Energy Efficient Motor is Anticipated to grow at a Significant Pace i.e., USD 53.4 Billion during the Forecast Period 2022-2028

Published Date: Jun, 2022

The global energy efficient motor market is expected to a have a 7% CAGR during the forecast period. The increased adoption of energy efficient motors in the agricultural and household applications along with emphasis to adopt green technologies globally will drive market growth. The enforcement of environmental rules and regulations, like the Environment Protection Act (EP Act), and the conservation of non-renewable energy will fuel market expansion.  Moreover, the market is also influenced by the advent of VSD, which aid in maximizing the effectiveness of the overall system, and by the adoption of motors, which increase production capacity while also reducing errors and harmful effects on the environment. Additionally, this technique has undergone constant innovation to cut down on electricity usage. Its uses in HVAC, pumps, material handling, and other fields have all directly increased as a result of this. The increasing untapped opportunities in the developing regions and favorable government policies will offer potential avenues for the industry players in the energy efficient motor market outlook. Nevertheless, several strategies including collaboration, mergers and acquisitions, expansion, and product launches, are being adopted in the market for energy-efficient motors. Strategic investments are made in R&D activities by top industry firms, who also support their expansion goals.

The demand for the most advanced, energy-efficient pumping equipment has never been more pressing as energy prices rise. In response to that need, in April 2022, Nidec Motor Corp. unveiled SynRATM, an avant-garde, synchronous motor with a pending patent. The new motor, with ratings of IE 4 and IE 5, provides one of the best efficiencies possible for today's commercial pumping and HVAC equipment when partnered with the ID300 PerfectspeedTM integrated drive. This new technology from Nidec's U.S. MOTORS® brand offers the benefit of simple motor replacement without the need to install a full new system and controls, saving time and money. It also offers significant energy savings.

The negative impact of the COVID-19 outbreak on several major industries like retail, transportation, automotive, etc. has hindered the market growth for the global energy efficient motor market.

Browse 63 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on " Energy Efficient Motor Market by Efficiency Level (IE1, IE2, IE3, and IE4), by Type (DC Motor (Brushed DC Motors and Brushless DC Motors) and AC Motor (Induction Motors and Synchronous Motors)), by Application (Fans, Air Compressor, Pumps, Material Handling, Material Processing, and HVAC), by End User Vertical (Commercial Building, Automotive, Residential, Aerospace and Defense, Industrial, and Agriculture), and Region - Global Forecast to 2028"

By application, the HVAC segment is anticipated to have a high CAGR during the forecast period.

HVAC application is anticipated to have a high CAGR during the forecast period owing to increased adoption in commercial buildings. Maintaining a high standard of indoor air quality, ensuring adequate ventilation via air filtration, and thermal comfort are the main goals of HVAC systems. Government assistance, rising industrialization and urbanisation, development of cutting-edge technologies, and rising demand for energy-efficient equipment all contribute to the growth of the HVAC application market.

Global Energy Efficient Motor Market Segmentation Analysis

Segment

Categorization

Leading Category

Efficiency Level

IE1, IE2, IE3, and IE4

IE2 (Largest)

Type

DC Motor (Brushed DC Motors and Brushless DC Motors) and AC Motor (Induction Motors and Synchronous Motors)

AC Motors (Largest)

Application

Fans, Air Compressor, Pumps, Material Handling, Material Processing, and HVAC

Pumps (Largest)

HVAC (High CAGR)

 

End User Vertical

Commercial Building, Automotive, Residential, Aerospace and Defense, Industrial, and Agriculture

Industrial (Largest)

 

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America

(Largest)

Asia-Pacific

(High CAGR)

 

Discover More About This Report, Download A Free Sample Copy of the Global Energy Efficient Motor Market

“Asia-Pacific is anticipated to have the highest CAGR in the Energy Efficient Market during the forecast period.”

APAC is anticipated to have a high CAGR during the forecast period owing to large scale industrialization and commercialization, measures taken by Department of Energy, and development in agriculture sector. The expansion of the regional market is significantly influenced by China, Japan, India, and Southeast Asian nations.

Some of the major players in the global Energy Efficient Motor industry include ABB, WEG, Siemens, Rockwell Automation, Inc., Nidec Motor Corporation, Schneider Electric, Kirloskar Electric Company, Crompton Greaves Consumer Electricals Limited, Bosch Rexroth, and General Electric.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2016–2028

Historical Period

2016–2021

Base Year

2021

Forecast Period

2022–2028

Segments Covered in the Study

Efficiency Level, Type, Application, End User Vertical, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

ABB, WEG, Siemens, Rockwell Automation, Inc., Nidec Motor Corporation, Schneider Electric, Kirloskar Electric Company, Crompton Greaves Consumer Electricals Limited, Bosch Rexroth, and General Electric

Global Energy Efficient Motor Market Coverage

Efficiency Level Insight and Forecast 2016-2028

  • Standard (IE1)
  • High (IE2)
  • Premium (IE3)
  • Super Premium (IE4)

Type Insight and Forecast 2016-2028

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

Application Insight and Forecast 2016-2028

  • Fans
  • Air Compressor
  • Pumps
  • Material Handling
  • Material Processing
  • HVAC

End User Vertical Insight and Forecast 2016-2028

  • Commercial Building
  • Automotive
  • Residential
  • Aerospace and Defense
  • Industrial
  • Agriculture

Geographical Segmentation

Energy Efficient Motor Market by Region

North America

  • By Efficiency Level
  • By Type
  • By Application
  • By End User Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Efficiency Level
  • By Type
  • By Application
  • By End User Vertical
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Efficiency Level
  • By Type
  • By Application
  • By End User Vertical
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Efficiency Level
  • By Type
  • By Application
  • By End User Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries