Energy Efficient Motor Market is predicted to reach USD 62.1 billion at a CAGR of 6.91% during the forecast period

Pune, India, June 2022, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Energy Efficient Motor Market.

Global Energy Efficient Motor Market

The energy-efficient motor consumes less energy, operates cooler, and lasts longer than standard motors. This sort of motor has more copper windings than a regular motor and is 2-6 percent more efficient. The motor creates less noise and vibration and operates at a lower temperature, extending the motor's life and lowering maintenance costs. It can be used in a variety of industries, including industrial, commercial building, residential, automotive, and others.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Energy Efficient Motor Market Research Report

Market Synopsis

According to the MRFR analysis, the global energy-efficient motor market size is projected to reach US$ Bn 62.1 by 2030 at a CAGR of 6.91%.

Energy-efficient motors have enhanced manufacturing procedures and superior materials, as well as longer bearing lives, higher service factors, lower waste heat output, and less vibration, all of which contribute to increased reliability. Electric motors that are more efficient reduce losses, which account for only 3-6 percent of the energy that goes through the motor. By utilizing VSD (variable speed drives), an efficient electric motor has the ability to reduce emissions associated with energy savings. The primary function of a VSD is to regulate motor speed in accordance with load requirements. The VSD serves to improve the overall efficiency of the system. Energy-efficient motors are slightly more expensive than normal motors. With over 1000 hours of operation per year, motor-­energy expenses typically account for over 95 percent of the motor's life-­cycle cost; efficient electric motors are more cost-effective over the system life. 

The growing need to reduce greenhouse gas emissions is driving the demand for energy-efficient solutions, which will propel the energy efficient motor market forward. Companies are choosing eco-friendly solutions for their technologies and processes as knowledge about energy conservation grows.

Competitive Landscape

The global Energy Efficient Motor market is highly fragmented and consists of many organized and unorganized industry players. Manufacturers focus mainly on the expansion of production capacities, continuous product launches, and collaborations with key stakeholders to gain a competitive advantage over other players. Key players include ABB, Siemens, Rockwell, Schneider Electric, Crompton Greaves, Kirloskar Electric Company Ltd., Bosch Rexroth AG, Regal Beloit Corporation, Nidec Motor Corporation, and WEG

Segmentation

By Application

• HVAC: The segment holds the largest market share in the global energy efficient motor market. The use of various technologies to control the temperature, humidity, and purity of air in an enclosed environment is known as heating, ventilation, and air conditioning (HVAC).Residential and commercial buildings are heated and cooled using this technology. HVAC systems can be found in a variety of places, from single-family houses to submarines, and they provide environmental comfort.


• Fans: The segment is expected to grow with the highest CAGR by the forecast period. A fan is a powered machine used to create a flow of air.To reduce power consumption, energy-efficient fans or power-saving ceiling fans employ a minimum of electrical technology. They are 5-star rated by the Indian agency and only use 50 watts. They have a fine-tuning regulator or an electronic step. BEE standardization in energy rating for ceiling fans resulted in these fans. Even in this scenario, the large manufacturers used the BEE's generous tolerances to get around the problem. To bring out the energy-efficient ceiling fan choice in their repertory, they rehashed the same conventional ceiling fan that had inferior performance in terms of air delivery.


• Pumps: A pump is a mechanical device that propels fluids, or sometimes slurries, by converting electrical energy into hydraulic energy. Through the adjustment of pipe sizes, energy can be saved by lowering friction losses. The amount of frictional power required is determined by the flow, pipe size (diameter), overall pipe length, pipe features (surface roughness, material, etc. ), and fluid parameters.


• Compressors: A compressor is a mechanical device that increases the pressure of a gas by reducing its volume.Air compressors that use less energy save money in a variety of ways. Compressors (such as rotary screw compressors) achieve efficiency by operating in a very constant, tunable manner, ensuring that only the amount of air required is produced (and that only the required amount of energy is used).


• Others: The others segment includes machine tools, turbines, power tools, alternators, rolling mills, ships, movers, and paper mills.

By Efficiency Level

• IE1: The international efficiency standard's IE1 class. The power range of the IE1 motors is 0.75kW to 355kW. The IE1 motors feature two, four, six, eight, ten, and twelve poles. The IE1 motors operate at speeds ranging from 500 to 3600 rpm. The rpm frequency of IE1 motors is 50Hz or 60Hz.


• IE2: The IE2 motors range in power from 0.75kW to 355kW. The IE2 motors feature two, four, or six poles. The IE2 motors operate at speeds ranging from 1000 to 3600 rpm. The rpm frequency of IE2 motors is 50Hz or 60Hz.


• IE3: The IE3 motors range in power from 0.75kW to 355kW. The poles of the IE3 motors are 2, 4, 6, and 8. The IE3 motors run at speeds ranging from 750 to 3600 rpm. The rpm frequency of IE3 motors is 50Hz or 60Hz.


• IE4: Due to the use of high-quality materials and the optimization of assembly and design to achieve higher efficiency, IE4 motors are more expensive. This segment is expected to grow with the highest CAGR by the forecast period. The rotors of these motors use large-diameter copper wires and a greater amount of aluminum to reduce resistance losses. An enhanced cooling fan is also used to reduce winding losses. The use of high-quality, expensive materials boosts the overall cost of these motors. The high purchase price is one of the major constraints, preventing small-scale companies from adopting these motors in their operations.

By End-Use Industry

• Industrial: Energy efficient motors are highly used for industrial applications, as industries are getting highly automated there is an increased need for an energy-efficient motor, energy-efficient motors provide enable industries to save on electricity consumed.


• Commercial Building: The use of energy-efficient motors is rising in commercial buildings, due to rising concerns related to emissions and the rising cost of electricity, there is more emphasis on the usage of energy-efficient motors for application in commercial buildings, though the demand is rising high maintenance and purchase cost is still hindering its growth in many parts of the world.


• Residential: Rising cost of electricity and growing awareness among people are driving the adoption of energy-efficient motors for residential use applications.


• Automotive: Automotive industry is one of the most sophisticated and technologically advanced industries, this industry has seen rising adoption of energy-efficient motors in recent years due to the high energy consumption associated with traditional motors.


• Others: The other segment covers energy sectors and others.

By Region

• North America: The growth in the North America energy efficient motor market is mainly attributed to the key players in the US and Canada, which has significantly contributed to the growth of the energy-efficient motor market in the region


• Europe: Implementing the growth in this region can be mostly attributed to technological advancements.


• Asia-Pacific: In Asia-Pacific, rising energy prices have raised concerns about energy efficiency, and several measures taken by the Departments of Energy (DOE) in various countries in APAC are encouraging industries to switch to high-efficiency motors (HEMs) that consume less power, resulting in the growth of the energy-efficient motors market in this region. The Asia Pacific is likely to offer lucrative opportunities for the growth of this market in the forthcoming years.


• Latin America: Latin America is expected to see considerable increases in its total valuations in the near future.


• Middle East & Africa: Increase in government investments is fueling the demand for energy-efficient motors in the region.