Global Energy Efficient Motor Market 2022 to 2027
DUBLIN–(BUSINESS WIRE)–The “Energy Efficient Motor Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global energy efficient motor market is expected to grow at a CAGR of 6.52% during 2022-2027. Motors are the major energy-consuming equipment across end-user industries, resulting in high energy costs for companies.
Owing to the high energy cost associated with motors, several players in end-user industries are focusing on incorporating energy-efficient techniques such as installing energy-efficient motors in their operations. Further, the global energy efficient motor market is highly fragmented, with numerous multinationals and local vendors.
Sales of energy-efficient motors in the APAC area are predicted to develop steadily, owing to increased infrastructure spending and industrial production.
Many APAC nations, including China and India, will likely expand and contribute to the energy efficient motor market growth over the forecast period, with significant infrastructure development in the industrial sector and engineering companies. Because of its robust process manufacturing businesses and oil and gas sectors, North America will continue as one of the prominent energy efficient motor markets.
However, APAC and Europe remained the top two areas with tremendous potential for demand for energy-efficient motors in different industries, particularly manufacturing.
The fact that motor buyers frequently have inaccurate perceptions of the expenses associated with vehicle ownership and so do not appropriately account for these expenditures presents a substantial economic hurdle in promoting high- and premium-efficiency motors in the energy efficient motor market.
Operating the motor, which accounts for 97-98% of total expenditures, is the most expensive part of motor ownership. The initial cost of acquisition only accounts for about 2-3%. Premium-efficiency motors are more costly than regular motors by 15-25%, or USD 8 – 40 more per horsepower, but they pay for themselves rapidly in operational cost savings.
The payback period for premium motors is usually within the range of 7 months to 4 years on average. However, several variables, including yearly hours of usage, energy expenses, installation and downtime costs, and utility rebates’ availability, affect the payback period’s precise duration.
Although costs play a significant role – including those associated with the purchase, operation, installation, and maintenance, these costs must also be weighed against other aspects like reliability, secondary advantages like less equipment wear or operating noise, and secondary drawbacks like frequency disruptions and declines in mechanical power that can be put to use.
Key Questions Answered
1. How big is the energy efficient motor market?
2. What is the growth rate of the global energy efficient motor market?
3. Who are the key players in the global energy efficient motor market?
4. What are the rising trends in the energy efficient motor market?
5. What segments are covered in the energy efficient motor market?
6. Which regions hold the most significant energy efficient motor market share globally?
Market Dynamics
Opportunities & Trends
- Increasing Energy Consumption Across Industries
- Initiatives by Industries to Curb Greenhouse Effect
- Increase in Demand for Ie4 Motors
- Government Support to Promote Energy Efficiency
Growth Enablers
- Rise in Use of Robotics & Automation
- Increase in Adoption of Energy-Efficient Solutions
- Innovations & Rapid Technological Advancements
Growth Restraints
- High Pricing of Super Premium Efficiency (Ie4) Motors
- Lack of Awareness & Misuse of Government Subsidies
- Increase in Copper Prices
Market Segmentation
by Efficiency
- IE1
- IE2
- IE3
- IE4
by Application
- Pumps
- Fans
- Compressors
- Others
by End-Users
- Industrial
- Commercial
- Residential
by Geography
- North America
- US
- Canada
- Europe
- UK
- Italy
- France
- Spain
- Germany
- APAC
- China
- Australia
- Japan
- South Korea
- India
- Middle East & Africa
- Saudi Arabia
- Turkey
- Latin America
- Brazil
- Mexico
Key Vendors
- ABB
- CG Power and Industrial Solutions
- Regal Beloit Corporation
- Siemens
- WEG
Other Prominent Vendors
- Brook Crompton
- Bharat Bijlee Limited
- Havells India Limited
- General Electric
- Toshiba International Corporation
- Mitsubishi Electric Corporation
- Laxmi Hydraulics
- NIDEC CORPORATION
- Regal Beloit
- Rockwell Automation
- ebm-papst
- Regal Rexnord Corporation
- Emerson Electric Co.
- Kirloskar Electric Company
For more information about this report visit https://www.researchandmarkets.com/r/jcfsd3
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