Energy Efficient Motor Market Size was valued at USD 37.83 Billion in 2023. The Energy Efficient Motor industry is projected to grow from USD 40.04 Billion in 2024 to USD 67.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.0% during the forecast period (2024 - 2032). Electric Motors that are energy efficient are those that have attributes such as superior materials and enhanced production procedures.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Higher service factors, lower waste heat output, longer bearing lives, and less vibration are all characteristics of these motors. These motors improve efficiency by reducing losses, which typically contribute to only 3-6 percent of the energy flowing through the motor.
The increased emphasis on green technology adoption is having a significant impact on demand for energy-efficient motors. Consumer preferences are being influenced by the advantages that energy-efficient motors offer over regular motors, such as high-quality lamination, insulation, and minimal fan losses.
The growing need to reduce greenhouse gas emissions is boosting the demand for energy-efficient solutions, which will drive the expansion of the energy-efficient motor market. Companies are choosing eco-friendly solutions for their technologies and processes as energy conservation becomes more popular. Switching to energy-efficient solutions is one of the most critical factors in reducing greenhouse gas emissions from fossil-fuel-generated electricity.
The aforementioned causes are driving industrial end-users to transition from standard to energy-efficient motors. This would allow governments to maintain natural energy supplies while also considerably reducing greenhouse gas emissions and hazardous pollution. Furthermore, the use of energy-efficient motors saves money for end-users by lowering energy usage. This tendency is expected to continue during the predicted period.
Highly efficient motors are preferred over regular motors for a variety of reasons, including longer working life, lower energy usage, less maintenance, and greater tolerance to voltage variations. The requirement for greater productivity and reduced power consumption by electric motor applications is predicted to drive up demand for high-efficiency motors.
Furthermore, the rise in demand for electric motors from robotics and automated robot technologies is anticipated to provide lucrative opportunities for the growth of the Market.
The market segmentation, based on Efficiency Level, includes IE1, IE2, IE3, and IE4. The IE4 segment holds the majority share 2021 of the Energy Efficient Motor revenue. This is because IE4 motors are highly efficient and provide many advantages over traditional motors, such as reduced energy consumption, improved performance, and increased lifespan. As a result, more and more companies are switching to using IE4s for their motor needs.
Based on Application, the market segmentation includes HVAC, Fans, Pumps, Compressors, and Others. The HVAC segment is estimated to account for the largest share of the market in terms of revenue, as it requires the highest number of motors. This segment is expected to drive the market with its increasing requirements for efficient motors and other related components.
Based on End-use, the market segmentation includes Industrial, Commercial buildings, Residential, Automotive, and Others. The Industrial segment dominated the market in 2021. The industrial sector is leading the way in this regard, as they are the largest consumers of these motors, accounting for a significant portion of the market. This trend is expected to continue as more industries look to reduce their energy consumption and improve their efficiency.
Figure 2 Energy Efficient Motor Market, by End-use, 2021 & 2030 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates the Energy-Efficient Motor Market. Because of the different actions implemented by the Department of Energy (DOE) in many countries in the region, Asia-Pacific is predicted to develop significantly from 2022 to 2030.
Rising energy prices have increased concern about energy efficiency, and several measures implemented by the Department of Energy (DOE) in various APAC countries 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.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3 Energy Efficient Motor Market Share By Region 2021 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence.
To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Energy Efficient Motor industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the globally Energy Efficient Motor industry to benefit customers and expand the market sector. The market has recently given medicine some of the most important advantages. Major market players, including ABB, Siemens, Rockwell, Schneider Electric, and others, are attempting to increase market demand by funding R&D initiatives.
ABB is a business that offers industrial clients electrification, automation, robotics, and digitalization solutions. Electrification, Process Automation, Motion and Robotics, and Discrete Automation are its four main operating businesses. Modular substation packages, distribution automation products, switchgear, circuit breakers, measuring and sensing equipment, control products, solar power solutions, EV charging infrastructure, wiring accessories, and enclosures and cabling systems are all provided by the electrification business.
Turnkey engineering, control technologies, software and lifecycle services, measurement and analytics solutions, maritime and turbocharging options, human-machine interfaces (HMI), and integrated safety technology are all provided by the Process Automation company.
The Motion division sells items for mechanical power transfer, electrical motors, and generators. Industrial robots, software, application solutions, engineering systems, and related services are provided by the Robotics and Discrete Automation company.
Schneider Electric specializes in the digital transformation of energy management and automation solutions for households and businesses. It is divided into two sections Industrial Automation and Energy Management. Low voltage power and building automation, medium voltage distribution and grid automation, critical power and cooling, industrial automation and control, and other products and solutions are available from the firm.
Schneider Electric services oil and gas, electric utility, transportation, banking and insurance, information technology, cloud computing, telecommunications, and other businesses.
In January 2022, ABB launched flameproof low-voltage motors for explosive atmospheres. These low-voltage flameproof motors are designed for safe use in applications in potentially explosive atmospheres.
In September 2021, Rockwell released a new Bulletin 140MT motor protection product. It offers enhanced Type F combination motor controller ratings when used with Bulletin 100-C and 100-E contractors, allowing assembled starters to be used without additional branch circuit protection. Because of their tap conductor protection ratings, these devices can be wired with fewer conductors in group motor installations, saving money.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 37.83 Billion |
| Market Size 2024 | USD 40.04 Billion |
| Market Size 2032 | USD 67.92 Billion |
| Compound Annual Growth Rate (CAGR) | 6.0% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Efficiency Level, Application, End-use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | ABB, Siemens, Rockwell, Schneider Electric, Crompton Greaves, Kirloskar Electric Company Ltd, Bosch Rexroth, Regal Beloit Corporation, Nidec Motor Corporation, WEG |
| Key Market Opportunities | Improvement in design methods to reduce carbon emissions |
| Key Market Dynamics | A growing need to reduce the greenhouse effect |
Energy Efficient Motor Market Highlights:
Frequently Asked Questions (FAQ) :
The Energy Efficient Motor market size was valued at USD 37.83 Billion in 2023.
The market is projected to grow at a CAGR of 6.0% during the forecast period, 2024-2032.
North America had the largest share of the Energy Efficient Motor market.
The key players in the market are Panasonic Corporation, LG Chem, Johnson Controls Inc, Exide Technologies, The Furukawa Energy Efficient Motor Co. Ltd, Chaowei Power Holding Ltd, Penn Manufacturing Company Inc, Fengfang Co. Ltd, Saft Groupe, Delphi Automotive
The IE4 category dominated the market in 2021.
HVAC had the largest share in the market for Energy Efficient motors.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
