Energy Efficient Motor Market by Efficiency Level (IE1, IE2, IE3, IE4, and IE5), Type(AC, DC), Power Output Rating (< 1 kW, 1 - 2.2 kW, 2.2 - 375 kW, and > 375 kW), Application (HVAC, Fans, Pumps, Compressors), End User Region - Global Forecast to 2028
The global Energy Efficient Motor market is projected to reach USD 59.3 billion by 2028 from an estimated USD 41.7 billion in 2023, at a CAGR of 7.3% during the forecast period. The IE3 segment market is anticipated to grow from an estimated USD 29.7 billion in 2023 to USD 41.9 billion in 2028, at a CAGR of 7.1% during the forecast period. Rotor losses in IE3 motors are reduced considerably by using copper as the conductor material in the squirrel cage rather than aluminum, which leads to the reduction of the slip under load conditions. The reduction in air gaps and thinner laminations made of better-quality steel ensure higher efficiency than traditional motors. These technological modifications in the IE3 efficiency level motors is pushing the market.
“Aerospace & Defense: The second fastest-growing segment of the energy efficient motor market, by end user“
The end user segment is categorized as industrial, commercial, residential, automotive, agriculture, and aerospace. energy-efficient motors are used in aircraft propulsion, navigation systems, and environmental control systems. Advantages in these applications include improved fuel efficiency, reduced emissions, and increased system reliability which is pushing the market.
“North America is expected to account for the second-largest market size during the forecast period.”
North America is expected to be the second largest and fastest-growing market. The use of energy-efficient motors in the region is increasing rapidly due to growing investments in major verticals such as industrial, commercial, and transportation. Countries in North America have been focusing on energy efficiency through programs, partnerships, and initiatives. For instance, the Industrial Efficiency and Decarbonization Office (IEDO) aims to improve the energy and material efficiency, productivity, and competitiveness of manufacturers across the industrial sector.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The energy efficient motor market is dominated by a few major players that have a wide regional presence. The leading players in the energy efficient motor market are ABB (Switzerland), Siemens (Germany), Regal Rexnord Corporation (US), Wolong Electric Group Co., Ltd (China), Nidec Corporation (Japan).
Research Coverage:
The report defines, describes, and forecasts the global energy efficient motor market, by product type, by stage type, by power rating, by pumping capacity, end-user industry, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the energy efficient motor market.
Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for energy efficient motor, which would help equipment manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
“Aerospace & Defense: The second fastest-growing segment of the energy efficient motor market, by end user“
The end user segment is categorized as industrial, commercial, residential, automotive, agriculture, and aerospace. energy-efficient motors are used in aircraft propulsion, navigation systems, and environmental control systems. Advantages in these applications include improved fuel efficiency, reduced emissions, and increased system reliability which is pushing the market.
“North America is expected to account for the second-largest market size during the forecast period.”
North America is expected to be the second largest and fastest-growing market. The use of energy-efficient motors in the region is increasing rapidly due to growing investments in major verticals such as industrial, commercial, and transportation. Countries in North America have been focusing on energy efficiency through programs, partnerships, and initiatives. For instance, the Industrial Efficiency and Decarbonization Office (IEDO) aims to improve the energy and material efficiency, productivity, and competitiveness of manufacturers across the industrial sector.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
- By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
- By Region: Europe- 20%, Asia Pacific- 33%, North America- 27%, the Middle East & Africa- 12%, and South America- 8%
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The energy efficient motor market is dominated by a few major players that have a wide regional presence. The leading players in the energy efficient motor market are ABB (Switzerland), Siemens (Germany), Regal Rexnord Corporation (US), Wolong Electric Group Co., Ltd (China), Nidec Corporation (Japan).
Research Coverage:
The report defines, describes, and forecasts the global energy efficient motor market, by product type, by stage type, by power rating, by pumping capacity, end-user industry, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the energy efficient motor market.
Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for energy efficient motor, which would help equipment manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.3.1 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL
1.3.2 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING
1.3.3 ENERGY EFFICIENT MOTOR MARKET, BY INSTALLATION TYPE
1.3.4 ENERGY EFFICIENT MOTOR MARKET, BY TYPE
1.3.5 ENERGY EFFICIENT MOTOR MARKET, BY END USER
1.3.6 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION
1.4 MARKET SCOPE
1.4.1 MARKETS COVERED
1.4.2 REGIONAL SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 ENERGY EFFICIENT MOTOR MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION METHODOLOGY
2.2.1 SECONDARY DATA
2.2.1.1 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Key data from primary sources
2.2.2.2 Breakdown of primaries
2.3 STUDY SCOPE
FIGURE 3 MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR ENERGY-EFFICIENT MOTORS
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4.3 DEMAND-SIDE ANALYSIS
2.4.3.1 Regional analysis
2.4.3.2 Country-level analysis
2.4.3.3 Assumptions for demand-side analysis
2.4.3.4 Calculations for demand-side analysis
2.4.4 SUPPLY-SIDE ANALYSIS
FIGURE 6 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF ENERGY-EFFICIENT MOTORS
FIGURE 7 ENERGY EFFICIENT MOTOR MARKET: SUPPLY-SIDE ANALYSIS
2.4.4.1 Calculations for supply-side analysis
2.4.4.2 Assumptions for supply-side analysis
FIGURE 8 COMPANY REVENUE ANALYSIS, 2021
2.4.5 FORECAST
2.5 RISK ASSESSMENT
2.6 RECESSION IMPACT
3 EXECUTIVE SUMMARY
TABLE 1 SNAPSHOT OF ENERGY EFFICIENT MOTOR MARKET
FIGURE 9 AC MOTORS SEGMENT TO HOLD LARGER SHARE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 10 < 1 KW SEGMENT TO ACCOUNT FOR LARGEST SIZE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 11 IE3 SEGMENT TO HOLD LARGEST SIZE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 12 PUMPS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 13 INDUSTRIAL SEGMENT TO LEAD ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 14 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET IN 2022
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ENERGY EFFICIENT MOTOR MARKET
FIGURE 15 GROWING ADOPTION OF ENERGY-EFFICIENT SOLUTIONS AND GOVERNMENT MANDATES TO FAVOR MARKET GROWTH
4.2 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY END USER AND COUNTRY
FIGURE 16 INDUSTRIAL SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC ENERGY EFFICIENT MOTOR MARKET IN 2022
4.3 ENERGY EFFICIENT MOTOR MARKET, BY TYPE
FIGURE 17 AC MOTORS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2028
4.4 ENERGY EFFICIENT MOTOR MARKET, BY END USER
FIGURE 18 INDUSTRIAL SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028
4.5 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING
FIGURE 19 < 1 KW SEGMENT TO LEAD ENERGY EFFICIENT MOTOR MARKET IN 2028
4.6 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL
FIGURE 20 IE3 SEGMENT TO HOLD LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET IN 2028
4.7 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION
FIGURE 21 PUMPS SEGMENT TO CAPTURE LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET IN 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 ENERGY EFFICIENT MOTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Lower life cycle costs than traditional motors
FIGURE 23 ELECTRIC MOTOR LIFE CYCLE COSTS
5.2.1.2 Government initiatives encouraging adoption of energy-efficient motors
TABLE 2 FUNDING SCHEMES AND PROJECTS FOR ENERGY-EFFICIENT MOTORS IN DIFFERENT COUNTRIES
5.2.1.3 Increasing adoption of energy-efficient motors in industrial sector
FIGURE 24 PERCENTAGE SHARE OF ELECTRICITY CONSUMPTION OF MOTOR SYSTEMS, BY INDUSTRY SUBSECTOR, 2020
5.2.2 RESTRAINTS
5.2.2.1 High price of energy-efficient motors
5.2.3 OPPORTUNITIES
5.2.3.1 Rising industrialization and decarbonization initiatives
TABLE 3 WORLD ECONOMIC OUTLOOK GROWTH PROJECTIONS ABOUT ANNUAL PERCENTAGE CHANGE IN REAL GDP, 2022–2024
5.2.3.2 Growth of robotics and automation
FIGURE 25 GLOBAL OPERATIONAL STOCK OF INDUSTRIAL ROBOTS, 2010–2020
5.2.4 CHALLENGES
5.2.4.1 Limited awareness about benefits of energy-efficient motors
5.2.4.2 Supply chain disruptions
FIGURE 26 GLOBAL NOMINAL PRICES FOR ALUMINIUM AND COPPER (USD/MT), 2020–2023
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.3.1 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR ENERGY-EFFICIENT MOTOR MANUFACTURERS
FIGURE 27 REVENUE SHIFTS FOR ENERGY-EFFICIENT MOTOR MANUFACTURERS
5.4 MARKET MAP
TABLE 4 ENERGY EFFICIENT MOTOR MARKET: ECOSYSTEM ANALYSIS
FIGURE 28 MARKET MAP/ECOSYSTEM ANALYSIS
5.5 VALUE CHAIN ANALYSIS
FIGURE 29 ENERGY EFFICIENT MOTOR MARKET: VALUE CHAIN ANALYSIS
5.5.1 RAW MATERIAL/COMPONENT PROVIDERS
5.5.2 MANUFACTURERS
5.5.3 DISTRIBUTORS AND AFTER-SALES SERVICE PROVIDERS
5.5.4 END USERS
5.6 AVERAGE SELLING PRICE (ASP) ANALYSIS
FIGURE 30 AVERAGE SELLING PRICE OF ENERGY-EFFICIENT MOTORS OFFERED KEY PLAYERS, BY POWER OUTPUT RATING, 2021
TABLE 5 AVERAGE SELLING PRICE OF ENERGY-EFFICIENT MOTORS OFFERED BY KEY PLAYERS, BY POWER OUTPUT RATING, 2021 (USD)
TABLE 6 PRICING ANALYSIS, BY REGION, 2021 AND 2028 (USD)
FIGURE 31 PRICING ANALYSIS, BY REGION, 2021 AND 2028 (USD)
5.7 TECHNOLOGY ANALYSIS
5.7.1 TECHNOLOGY TRENDS RELATED TO ELECTRIC MOTORS
TABLE 7 ENERGY EFFICIENCY METHOD IMPROVEMENTS IN MOTORS
5.8 TARIFF, CODES, AND REGULATIONS
5.8.1 TARIFF RELATED TO ENERGY-EFFICIENT MOTORS
5.8.2 CODES AND REGULATIONS RELATED TO ENERGY EFFICIENT MOTOR MARKET
TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.8.3 CODES AND REGULATIONS RELATED TO ENERGY-EFFICIENT MOTORS
TABLE 13 NORTH AMERICA: CODES AND REGULATIONS
TABLE 14 ASIA PACIFIC: CODES AND REGULATIONS
TABLE 15 EUROPE: CODES AND REGULATIONS
TABLE 16 GLOBAL: CODES AND REGULATIONS
5.9 PATENT ANALYSIS
TABLE 17 ENERGY EFFICIENT MOTOR MARKET: INNOVATION AND PATENT REGISTRATION
5.10 TRADE ANALYSIS
5.10.1 EXPORT SCENARIO
TABLE 18 EXPORT SCENARIO FOR HS CODE: 8501, BY COUNTRY, 2019–2021 (USD THOUSAND)
5.10.2 IMPORT SCENARIO
TABLE 19 IMPORT SCENARIO FOR HS CODE: 8501, BY COUNTRY, 2019–2021 (USD THOUSAND)
5.11 KEY CONFERENCES AND EVENTS, 2023–2024
TABLE 20 ENERGY EFFICIENT MOTOR MARKET: LIST OF CONFERENCES AND EVENTS
5.12 CASE STUDY ANALYSIS
5.12.1 ORQUIDEA IMPROVED FOOD PRODUCTION EFFICIENCY WITH BONUS MOTOR PROGRAM
5.12.2 EMORY UNIVERSITY UPGRADED MOTORS TO CUT DOWN HVAC ENERGY COSTS
5.13 PORTER’S FIVE FORCES ANALYSIS
TABLE 21 ENERGY EFFICIENT MOTOR MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 32 ENERGY EFFICIENT MOTOR MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER
TABLE 22 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER (%)
5.14.2 BUYING CRITERIA
FIGURE 34 KEY BUYING CRITERIA FOR END USERS
TABLE 23 KEY BUYING CRITERIA, BY END USER
6 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL
6.1 INTRODUCTION
FIGURE 35 ENERGY EFFICIENT MOTOR MARKET SHARE, BY EFFICIENCY LEVEL, 2022
TABLE 24 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
6.2 IE1
6.2.1 IDEAL FOR APPLICATIONS THAT DO NOT REQUIRE HIGH ENERGY EFFICIENCY
TABLE 25 IE1: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.3 IE2
6.3.1 REDUCE ENERGY CONSUMPTION IN EQUIPMENT
TABLE 26 IE2: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.4 IE3
6.4.1 USED IN HIGH POWER APPLICATIONS
TABLE 27 IE3: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.5 IE4
6.5.1 UPGRADE TO IE4 FACILITATES ADDITIONAL ENERGY SAVINGS
TABLE 28 IE4: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.6 IE5
6.6.1 IE5 MOTORS OFFER HIGHEST LEVEL OF EFFICIENCY
TABLE 29 IE5: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
7 ENERGY EFFICIENT MOTOR MARKET, BY INSTALLATION TYPE
7.1 INTRODUCTION
7.2 OPEN DRIP PROOF (ODP) MOTOR
7.2.1 SUITABLE FOR USE IN RELATIVELY CLEAN AND DRY ENVIRONMENTS
7.3 TOTALLY ENCLOSED FAN – COOLED (TEFC) MOTOR
7.3.1 IDEAL FOR USAGE IN HARSH ENVIRONMENTS
8 ENERGY EFFICIENT MOTOR MARKET, BY TYPE
8.1 INTRODUCTION
FIGURE 36 ENERGY EFFICIENT MOTOR MARKET SHARE, BY TYPE, 2022
TABLE 30 ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
8.2 AC MOTORS
8.2.1 LESS MAINTENANCE REQUIREMENTS AND EFFICIENT PERFORMANCE TO PROPEL ADOPTION OF AC MOTORS
TABLE 31 AC MOTORS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
8.3 DC MOTORS
8.3.1 PRECISE SPEED CONTROL AND PERFORMANCE EXPECTED TO DRIVE MARKET
TABLE 32 DC MOTORS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING
9.1 INTRODUCTION
FIGURE 37 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2022
TABLE 33 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
9.2 <1 KW
9.2.1 IDEAL FOR RESIDENTIAL AND COMMERCIAL APPLICATIONS
TABLE 34 <1 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9.3 1–2.2 KW
9.3.1 VERSATILE AND OFFER RELIABILITY IN OPERATIONS
TABLE 35 1–2.2 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9.4 2.2–375 KW
9.4.1 CAPABLE OF HANDLING HIGHER LOADS AND SUITABLE FOR HEAVY-DUTY APPLICATIONS
TABLE 36 2.2–375 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9.5 >375 KW
9.5.1 IDEAL FOR CRITICAL APPLICATIONS
TABLE 37 >375 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 38 ENERGY EFFICIENT MOTOR MARKET SHARE, 2022
TABLE 38 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
10.2 HVAC
10.2.1 GROWING FOCUS ON REDUCING POWER LOSS IN HVAC SYSTEMS TO PROPEL ADOPTION OF ENERGY-EFFICIENT MOTORS
TABLE 39 HVAC: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.3 PUMPS
10.3.1 GROWING DEMAND FOR ENERGY-EFFICIENT MOTORS FROM AGRICULTURE AND INDUSTRIAL SECTORS TO ACCELERATE MARKET GROWTH
TABLE 40 PUMPS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.4 FANS
10.4.1 GROWING ADOPTION OF ENERGY-EFFICIENT MOTOR-BASED FANS IN DEVICES TO AUGMENT MARKET GROWTH
TABLE 41 FANS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.5 COMPRESSORS
10.5.1 RISING ENERGY EFFICIENCY REQUIREMENTS IN INDUSTRIES TO PROPEL ADOPTION OF ENERGY-EFFICIENT MOTORS IN COMPRESSORS
TABLE 42 COMPRESSORS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.6 REFRIGERATION
10.6.1 DEVELOPMENT OF COLD CHAINS TO GENERATE DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 43 REFRIGERATION: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.7 MATERIAL HANDLING
10.7.1 RISING ADOPTION OF MOBILE ROBOTS IN INDUSTRIES TO PROPEL SEGMENTAL LANDSCAPE
TABLE 44 MATERIAL HANDLING: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.8 MATERIAL PROCESSING
10.8.1 INCREASING REPLACEMENT OF OBSOLETE INFRASTRUCTURE IN INDUSTRIES TO TRIGGER DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 45 MATERIAL PROCESSING: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11 ENERGY EFFICIENT MOTOR MARKET, BY END USER
11.1 INTRODUCTION
FIGURE 39 ENERGY EFFICIENT MOTOR MARKET SHARE, BY END USER, 2022
TABLE 46 ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
11.2 INDUSTRIAL
11.2.1 NEED TO IMPROVE ENERGY EFFICIENCY, LOWER OPERATING COSTS, AND REDUCE DOWNTIME TO DRIVE ADOPTION OF ENERGY-EFFICIENT MOTORS
TABLE 47 INDUSTRIAL: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.3 COMMERCIAL
11.3.1 NEED TO REDUCE MAINTENANCE COSTS TO ACCELERATE ADOPTION OF ENERGY-EFFICIENT MOTORS
TABLE 48 COMMERCIAL: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.4 RESIDENTIAL
11.4.1 FOCUS ON REDUCING ENERGY CONSUMPTION AND UTILITY BILLS TO BOOST UPTAKE OF ENERGY-EFFICIENT MOTORS
TABLE 49 RESIDENTIAL: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.5 AUTOMOTIVE
11.5.1 GROWING ADOPTION OF ELECTRIC VEHICLES TO GENERATE DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 50 AUTOMOTIVE: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.6 AGRICULTURE
11.6.1 INCREASING EMPHASIS ON REDUCING OPERATING COSTS IN FARMING TO BOOST CONSUMPTION OF ENERGY-EFFICIENT MOTORS
TABLE 51 AGRICULTURE: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.7 AEROSPACE & DEFENSE
11.7.1 NEED TO IMPROVE FUEL EFFICIENCY, REDUCE EMISSIONS, AND INCREASE SYSTEM RELIABILITY TO DRIVE DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 52 AEROSPACE & DEFENSE: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
12 ENERGY EFFICIENT MOTOR MARKET, BY REGION
12.1 INTRODUCTION
FIGURE 40 ASIA PACIFIC ENERGY EFFICIENT MOTOR MARKET TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
FIGURE 41 ENERGY EFFICIENT MOTOR MARKET SHARE, BY REGION, 2022 (%)
TABLE 53 ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
TABLE 54 ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (MILLION UNITS)
12.2 ASIA PACIFIC
FIGURE 42 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET SNAPSHOT
12.2.1 ASIA PACIFIC: RECESSION IMPACT
12.2.2 BY EFFICIENCY LEVEL
TABLE 55 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.2.3 BY TYPE
TABLE 56 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.2.4 BY POWER OUTPUT RATING
TABLE 57 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.2.5 BY END USER
TABLE 58 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.6 BY APPLICATION
TABLE 59 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.2.7 BY COUNTRY
TABLE 60 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.2.7.1 China
12.2.7.1.1 Government policies to promote energy efficiency and environmental concerns to drive market
TABLE 61 CHINA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.2 Australia
12.2.7.2.1 National Energy Productivity Plan to support market growth
TABLE 62 AUSTRALIA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.3 Japan
12.2.7.3.1 Rising focus on carbon neutrality to push market growth
TABLE 63 JAPAN: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.4 India
12.2.7.4.1 Ongoing industrialization to induce demand for energy-efficient motors
TABLE 64 INDIA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.5 South Korea
12.2.7.5.1 Strategic energy efficiency policies introduced by government to drive market
TABLE 65 SOUTH KOREA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.6 Rest of Asia Pacific
TABLE 66 REST OF ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.3 NORTH AMERICA
12.3.1 NORTH AMERICA: RECESSION IMPACT
FIGURE 43 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET SNAPSHOT
12.3.2 BY EFFICIENCY LEVEL
TABLE 67 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.3.3 BY TYPE
TABLE 68 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.3.4 BY POWER OUTPUT RATING
TABLE 69 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.3.5 BY END USER
TABLE 70 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.3.6 BY APPLICATION
TABLE 71 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.3.7 BY COUNTRY
TABLE 72 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.3.7.1 US
12.3.7.1.1 Energy efficiency standards and regulation across sectors to boost market
TABLE 73 US: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.3.7.2 Canada
12.3.7.2.1 Stringent energy efficiency regulations and growing automotive sector to fuel market growth
TABLE 74 CANADA: ENERGY EFFICIENT MOTOR MARKET, BY END USER 2021–2028 (USD MILLION)
12.3.7.3 Mexico
12.3.7.3.1 Energy efficiency programs under NAMA to accelerate market growth
TABLE 75 MEXICO: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4 EUROPE
FIGURE 44 EUROPE: ENERGY EFFICIENT MOTOR MARKET SNAPSHOT
12.4.1 EUROPE: RECESSION IMPACT
12.4.2 BY EFFICIENCY LEVEL
TABLE 76 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.4.3 BY POWER OUTPUT RATING
TABLE 77 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.4.4 BY TYPE
TABLE 78 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.4.5 BY APPLICATION
TABLE 79 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.4.6 BY END USER
TABLE 80 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7 BY COUNTRY
TABLE 81 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.4.7.1 UK
12.4.7.1.1 Expanding aerospace & defense industry to drive market
TABLE 82 UK: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.2 Germany
12.4.7.2.1 Flourishing industrial sector and emission reduction targets to bolster adoption of energy-efficient motors
TABLE 83 GERMANY: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.3 France
12.4.7.3.1 Decarbonization policies to propel adoption of energy-efficient motors
TABLE 84 FRANCE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.4 Italy
12.4.7.4.1 Rising electric vehicle adoption to create demand for energy-efficient motors
TABLE 85 ITALY: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.5 Spain
12.4.7.5.1 Growing energy efficiency targets to propel market
TABLE 86 SPAIN: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.6 Poland
12.4.7.6.1 Growing investments in industrial sector to create demand for energy-efficient motors
TABLE 87 POLAND: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.7 Rest of Europe
TABLE 88 REST OF EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5 MIDDLE EAST & AFRICA
12.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT
12.5.2 BY EFFICIENCY LEVEL
TABLE 89 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.5.3 BY TYPE
TABLE 90 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.5.4 BY POWER OUTPUT RATING
TABLE 91 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.5.5 BY END USER
TABLE 92 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.6 BY APPLICATION
TABLE 93 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.5.7 BY COUNTRY
TABLE 94 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.5.7.1 Saudi Arabia
12.5.7.1.1 Government energy efficiency programs to augment market growth
TABLE 95 SAUDI ARABIA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.2 UAE
12.5.7.2.1 Increasing energy consumption and need to achieve net-zero targets to foster market growth
TABLE 96 UAE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.3 Turkey
12.5.7.3.1 Growing initiatives to improve energy efficiency in various sectors to bolster market growth
TABLE 97 TURKEY: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.4 South Africa
12.5.7.4.1 Supportive energy efficiency regulations to favor market expansion
TABLE 98 SOUTH AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.5 Egypt
12.5.7.5.1 Government initiatives to improve industrial energy efficiency to fuel market growth
TABLE 99 EGYPT: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.6 Qatar
12.5.7.6.1 Energy efficiency and conservation programs to encourage market growth
TABLE 100 QATAR: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.7 Israel
12.5.7.7.1 Energy efficiency labeling mandates and net-zero targets in various sectors to induce demand for energy-efficient motors
TABLE 101 ISRAEL: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.8 Rest of Middle East & Africa
TABLE 102 REST OF MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6 SOUTH AMERICA
12.6.1 SOUTH AMERICA: RECESSION IMPACT
12.6.2 BY EFFICIENCY LEVEL
TABLE 103 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.6.3 BY POWER OUTPUT RATING
TABLE 104 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.6.4 BY TYPE
TABLE 105 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.6.5 BY APPLICATION
TABLE 106 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.6.6 BY END USER
TABLE 107 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7 BY COUNTRY
TABLE 108 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.6.7.1 Brazil
12.6.7.1.1 Growing aerospace & defense industry to drive market
TABLE 109 BRAZIL: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7.2 Argentina
12.6.7.2.1 Rising production of electronic equipment to propel market landscape
TABLE 110 ARGENTINA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7.3 Chile
12.6.7.3.1 Flourishing industrial sector to accelerate market growth
TABLE 111 CHILE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7.4 Rest of South America
TABLE 112 REST OF SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
13 COMPETITIVE LANDSCAPE
13.1 KEY PLAYER STRATEGIES
TABLE 113 OVERVIEW OF STRATEGIES ADOPTED BY KEY MANUFACTURERS OF ENERGY-EFFICIENT MOTORS
13.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS, 2021
FIGURE 45 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS IN ENERGY EFFICIENT MOTOR MARKET, 2021
TABLE 114 ENERGY EFFICIENT MOTOR MARKET: DEGREE OF COMPETITION
13.3 ENERGY EFFICIENT MOTOR MARKET SHARE ANALYSIS, 2021
FIGURE 46 ENERGY EFFICIENT MOTOR MARKET SHARE ANALYSIS, 2021
13.4 FIVE-YEAR COMPANY REVENUE ANALYSIS
FIGURE 47 REVENUE ANALYSIS OF TOP FIVE PLAYERS IN ENERGY EFFICIENT MOTOR MARKET FROM 2017 TO 2021
13.5 COMPANY EVALUATION QUADRANT
13.5.1 STARS
13.5.2 PERVASIVE PLAYERS
13.5.3 EMERGING LEADERS
13.5.4 PARTICIPANTS
FIGURE 48 ENERGY EFFICIENT MOTOR MARKET (GLOBAL): KEY COMPANY EVALUATION QUADRANT, 2021
13.6 START-UPS/SMES EVALUATION QUADRANT
13.6.1 PROGRESSIVE COMPANIES
13.6.2 RESPONSIVE COMPANIES
13.6.3 DYNAMIC COMPANIES
13.6.4 STARTING BLOCKS
FIGURE 49 ENERGY EFFICIENT MOTOR MARKET: START-UPS/SMES EVALUATION QUADRANT, 2021
13.7 COMPETITIVE BENCHMARKING
TABLE 115 ENERGY EFFICIENT MOTOR MARKET: DETAILED LIST OF KEY START-UPS/SMES
TABLE 116 ENERGY EFFICIENT MOTOR MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
13.8 ENERGY EFFICIENT MOTOR MARKET: COMPANY FOOTPRINT
TABLE 117 POWER OUTPUT RATING: COMPANY FOOTPRINT
TABLE 118 EFFICIENCY LEVEL: COMPANY FOOTPRINT
TABLE 119 APPLICATION: COMPANY FOOTPRINT
TABLE 120 REGION: COMPANY FOOTPRINT
TABLE 121 COMPANY FOOTPRINT
13.9 COMPETITIVE SCENARIOS AND TRENDS
TABLE 122 ENERGY EFFICIENT MOTOR MARKET: PRODUCT LAUNCHES, NOVEMBER 2020–MAY 2022
TABLE 123 ENERGY EFFICIENT MOTOR MARKET: DEALS, JULY 2019–OCTOBER 2022
TABLE 124 ENERGY EFFICIENT MOTOR MARKET: OTHERS, JULY 2021–FEBRUARY 2022
14 COMPANY PROFILES
14.1 KEY PLAYERS
(Business Overview, Products/Solutions offered, Recent Developments, MnM View)*
14.1.1 ABB
TABLE 125 ABB: COMPANY OVERVIEW
FIGURE 50 ABB: COMPANY SNAPSHOT
TABLE 126 ABB: PRODUCTS/SOLUTIONS OFFERED
TABLE 127 ABB: PRODUCT LAUNCHES
TABLE 128 ABB: DEALS
TABLE 129 ABB: OTHERS
14.1.2 SIEMENS
TABLE 130 SIEMENS: COMPANY OVERVIEW
FIGURE 51 SIEMENS: COMPANY SNAPSHOT
TABLE 131 SIEMENS: PRODUCTS/SOLUTIONS OFFERED
TABLE 132 SIEMENS: PRODUCT LAUNCHES
TABLE 133 SIEMENS: DEALS
TABLE 134 SIEMENS: OTHERS
14.1.3 WEG
TABLE 135 WEG: COMPANY OVERVIEW
FIGURE 52 WEG: COMPANY SNAPSHOT
TABLE 136 WEG: PRODUCTS/SOLUTIONS OFFERED
TABLE 137 WEG: PRODUCT LAUNCHES
TABLE 138 WEG: DEALS
TABLE 139 WEG: OTHERS
14.1.4 WOLONG ELECTRIC GROUP CO., LTD
TABLE 140 WOLONG ELECTRIC GROUP CO., LTD: COMPANY OVERVIEW
TABLE 141 WOLONG ELECTRIC GROUP CO., LTD: PRODUCTS/SOLUTIONS OFFERED
TABLE 142 WOLONG ELECTRIC GROUP CO., LTD: OTHERS
14.1.5 NIDEC CORPORATION
TABLE 143 NIDEC CORPORATION: COMPANY OVERVIEW
FIGURE 53 NIDEC CORPORATION: COMPANY SNAPSHOT
TABLE 144 NIDEC CORPORATION: PRODUCTS/SOLUTIONS OFFERED
TABLE 145 NIDEC CORPORATION: PRODUCT LAUNCHES
TABLE 146 NIDEC CORPORATION: OTHERS
14.1.6 ROCKWELL AUTOMATION
TABLE 147 ROCKWELL AUTOMATION: COMPANY OVERVIEW
FIGURE 54 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
TABLE 148 ROCKWELL AUTOMATION: PRODUCTS/SOLUTIONS OFFERED
14.1.7 CG POWER AND INDUSTRIAL SOLUTIONS LTD.
TABLE 149 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW
FIGURE 55 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT
TABLE 150 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: PRODUCTS/SOLUTIONS OFFERED
14.1.8 REGAL REXNORD CORPORATION
TABLE 151 REGAL REXNORD CORPORATION: COMPANY OVERVIEW
FIGURE 56 REGAL REXNORD CORPORATION: COMPANY SNAPSHOT
TABLE 152 REGAL REXNORD CORPORATION: PRODUCTS/SOLUTIONS OFFERED
14.1.9 TOSHIBA CORPORATION
TABLE 153 TOSHIBA CORPORATION: COMPANY OVERVIEW
FIGURE 57 TOSHIBA CORPORATION: COMPANY SNAPSHOT
TABLE 154 TOSHIBA CORPORATION: PRODUCTS/SOLUTIONS OFFERED
14.1.10 BHARAT BIJLEE
TABLE 155 BHARAT BIJLEE: BUSINESS OVERVIEW
FIGURE 58 BHARAT BIJLEE: COMPANY SNAPSHOT, 2021
TABLE 156 BHARAT BIJILEE: PRODUCTS/SOLUTIONS OFFERED
TABLE 157 BHARAT BIJILEE: PRODUCT LAUNCHES
TABLE 158 BHARAT BIJILEE: OTHERS
14.1.11 KIRLOSKAR ELECTRIC
TABLE 159 KIRLOSKAR ELECTRIC: COMPANY OVERVIEW
FIGURE 59 KIRLOSKAR ELECTRIC: COMPANY SNAPSHOT
TABLE 160 KIRLOSKAR ELECTRIC: PRODUCTS/SOLUTIONS OFFERED
14.1.12 HOYER MOTORS
TABLE 161 HOYER MOTORS: COMPANY OVERVIEW
TABLE 162 HOYER MOTORS: PRODUCTS/SOLUTIONS OFFERED
14.1.13 OME MOTORS
TABLE 163 OME MOTORS: COMPANY OVERVIEW
TABLE 164 OME MOTORS: PRODUCTS/SOLUTIONS OFFERED
14.1.14 EC FANS AND DRIVES
TABLE 165 EC FANS AND DRIVES: COMPANY OVERVIEW
TABLE 166 EC FANS AND DRIVES: PRODUCTS/SOLUTIONS OFFERED
14.1.15 INTEGRATED ELECTRIC CO., PVT. LTD.
TABLE 167 INTEGRATED ELECTRIC CO., PVT. LTD.: COMPANY OVERVIEW
TABLE 168 INTEGRATED ELECTRIC CO., PVT. LTD.: PRODUCTS/SOLUTIONS OFFERED
14.1.16 HAVELLS
14.1.17 MITSUBISHI ELECTRIC
14.1.18 ELEKTRIM MOTORS
14.1.19 SHANGHAI TOP MOTOR CO., LTD.
14.1.20 MENZEL ELEKTROMOTOREN GMBH
*Details on Business Overview, Products/Solutions offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
14.2 OTHER PLAYERS
15 APPENDIX
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 CUSTOMIZATION OPTIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.3.1 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL
1.3.2 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING
1.3.3 ENERGY EFFICIENT MOTOR MARKET, BY INSTALLATION TYPE
1.3.4 ENERGY EFFICIENT MOTOR MARKET, BY TYPE
1.3.5 ENERGY EFFICIENT MOTOR MARKET, BY END USER
1.3.6 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION
1.4 MARKET SCOPE
1.4.1 MARKETS COVERED
1.4.2 REGIONAL SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 ENERGY EFFICIENT MOTOR MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION METHODOLOGY
2.2.1 SECONDARY DATA
2.2.1.1 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Key data from primary sources
2.2.2.2 Breakdown of primaries
2.3 STUDY SCOPE
FIGURE 3 MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR ENERGY-EFFICIENT MOTORS
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4.3 DEMAND-SIDE ANALYSIS
2.4.3.1 Regional analysis
2.4.3.2 Country-level analysis
2.4.3.3 Assumptions for demand-side analysis
2.4.3.4 Calculations for demand-side analysis
2.4.4 SUPPLY-SIDE ANALYSIS
FIGURE 6 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF ENERGY-EFFICIENT MOTORS
FIGURE 7 ENERGY EFFICIENT MOTOR MARKET: SUPPLY-SIDE ANALYSIS
2.4.4.1 Calculations for supply-side analysis
2.4.4.2 Assumptions for supply-side analysis
FIGURE 8 COMPANY REVENUE ANALYSIS, 2021
2.4.5 FORECAST
2.5 RISK ASSESSMENT
2.6 RECESSION IMPACT
3 EXECUTIVE SUMMARY
TABLE 1 SNAPSHOT OF ENERGY EFFICIENT MOTOR MARKET
FIGURE 9 AC MOTORS SEGMENT TO HOLD LARGER SHARE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 10 < 1 KW SEGMENT TO ACCOUNT FOR LARGEST SIZE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 11 IE3 SEGMENT TO HOLD LARGEST SIZE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 12 PUMPS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 13 INDUSTRIAL SEGMENT TO LEAD ENERGY EFFICIENT MOTOR MARKET DURING FORECAST PERIOD
FIGURE 14 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET IN 2022
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ENERGY EFFICIENT MOTOR MARKET
FIGURE 15 GROWING ADOPTION OF ENERGY-EFFICIENT SOLUTIONS AND GOVERNMENT MANDATES TO FAVOR MARKET GROWTH
4.2 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY END USER AND COUNTRY
FIGURE 16 INDUSTRIAL SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC ENERGY EFFICIENT MOTOR MARKET IN 2022
4.3 ENERGY EFFICIENT MOTOR MARKET, BY TYPE
FIGURE 17 AC MOTORS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2028
4.4 ENERGY EFFICIENT MOTOR MARKET, BY END USER
FIGURE 18 INDUSTRIAL SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028
4.5 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING
FIGURE 19 < 1 KW SEGMENT TO LEAD ENERGY EFFICIENT MOTOR MARKET IN 2028
4.6 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL
FIGURE 20 IE3 SEGMENT TO HOLD LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET IN 2028
4.7 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION
FIGURE 21 PUMPS SEGMENT TO CAPTURE LARGEST SHARE OF ENERGY EFFICIENT MOTOR MARKET IN 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 ENERGY EFFICIENT MOTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Lower life cycle costs than traditional motors
FIGURE 23 ELECTRIC MOTOR LIFE CYCLE COSTS
5.2.1.2 Government initiatives encouraging adoption of energy-efficient motors
TABLE 2 FUNDING SCHEMES AND PROJECTS FOR ENERGY-EFFICIENT MOTORS IN DIFFERENT COUNTRIES
5.2.1.3 Increasing adoption of energy-efficient motors in industrial sector
FIGURE 24 PERCENTAGE SHARE OF ELECTRICITY CONSUMPTION OF MOTOR SYSTEMS, BY INDUSTRY SUBSECTOR, 2020
5.2.2 RESTRAINTS
5.2.2.1 High price of energy-efficient motors
5.2.3 OPPORTUNITIES
5.2.3.1 Rising industrialization and decarbonization initiatives
TABLE 3 WORLD ECONOMIC OUTLOOK GROWTH PROJECTIONS ABOUT ANNUAL PERCENTAGE CHANGE IN REAL GDP, 2022–2024
5.2.3.2 Growth of robotics and automation
FIGURE 25 GLOBAL OPERATIONAL STOCK OF INDUSTRIAL ROBOTS, 2010–2020
5.2.4 CHALLENGES
5.2.4.1 Limited awareness about benefits of energy-efficient motors
5.2.4.2 Supply chain disruptions
FIGURE 26 GLOBAL NOMINAL PRICES FOR ALUMINIUM AND COPPER (USD/MT), 2020–2023
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.3.1 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR ENERGY-EFFICIENT MOTOR MANUFACTURERS
FIGURE 27 REVENUE SHIFTS FOR ENERGY-EFFICIENT MOTOR MANUFACTURERS
5.4 MARKET MAP
TABLE 4 ENERGY EFFICIENT MOTOR MARKET: ECOSYSTEM ANALYSIS
FIGURE 28 MARKET MAP/ECOSYSTEM ANALYSIS
5.5 VALUE CHAIN ANALYSIS
FIGURE 29 ENERGY EFFICIENT MOTOR MARKET: VALUE CHAIN ANALYSIS
5.5.1 RAW MATERIAL/COMPONENT PROVIDERS
5.5.2 MANUFACTURERS
5.5.3 DISTRIBUTORS AND AFTER-SALES SERVICE PROVIDERS
5.5.4 END USERS
5.6 AVERAGE SELLING PRICE (ASP) ANALYSIS
FIGURE 30 AVERAGE SELLING PRICE OF ENERGY-EFFICIENT MOTORS OFFERED KEY PLAYERS, BY POWER OUTPUT RATING, 2021
TABLE 5 AVERAGE SELLING PRICE OF ENERGY-EFFICIENT MOTORS OFFERED BY KEY PLAYERS, BY POWER OUTPUT RATING, 2021 (USD)
TABLE 6 PRICING ANALYSIS, BY REGION, 2021 AND 2028 (USD)
FIGURE 31 PRICING ANALYSIS, BY REGION, 2021 AND 2028 (USD)
5.7 TECHNOLOGY ANALYSIS
5.7.1 TECHNOLOGY TRENDS RELATED TO ELECTRIC MOTORS
TABLE 7 ENERGY EFFICIENCY METHOD IMPROVEMENTS IN MOTORS
5.8 TARIFF, CODES, AND REGULATIONS
5.8.1 TARIFF RELATED TO ENERGY-EFFICIENT MOTORS
5.8.2 CODES AND REGULATIONS RELATED TO ENERGY EFFICIENT MOTOR MARKET
TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.8.3 CODES AND REGULATIONS RELATED TO ENERGY-EFFICIENT MOTORS
TABLE 13 NORTH AMERICA: CODES AND REGULATIONS
TABLE 14 ASIA PACIFIC: CODES AND REGULATIONS
TABLE 15 EUROPE: CODES AND REGULATIONS
TABLE 16 GLOBAL: CODES AND REGULATIONS
5.9 PATENT ANALYSIS
TABLE 17 ENERGY EFFICIENT MOTOR MARKET: INNOVATION AND PATENT REGISTRATION
5.10 TRADE ANALYSIS
5.10.1 EXPORT SCENARIO
TABLE 18 EXPORT SCENARIO FOR HS CODE: 8501, BY COUNTRY, 2019–2021 (USD THOUSAND)
5.10.2 IMPORT SCENARIO
TABLE 19 IMPORT SCENARIO FOR HS CODE: 8501, BY COUNTRY, 2019–2021 (USD THOUSAND)
5.11 KEY CONFERENCES AND EVENTS, 2023–2024
TABLE 20 ENERGY EFFICIENT MOTOR MARKET: LIST OF CONFERENCES AND EVENTS
5.12 CASE STUDY ANALYSIS
5.12.1 ORQUIDEA IMPROVED FOOD PRODUCTION EFFICIENCY WITH BONUS MOTOR PROGRAM
5.12.2 EMORY UNIVERSITY UPGRADED MOTORS TO CUT DOWN HVAC ENERGY COSTS
5.13 PORTER’S FIVE FORCES ANALYSIS
TABLE 21 ENERGY EFFICIENT MOTOR MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 32 ENERGY EFFICIENT MOTOR MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER
TABLE 22 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER (%)
5.14.2 BUYING CRITERIA
FIGURE 34 KEY BUYING CRITERIA FOR END USERS
TABLE 23 KEY BUYING CRITERIA, BY END USER
6 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL
6.1 INTRODUCTION
FIGURE 35 ENERGY EFFICIENT MOTOR MARKET SHARE, BY EFFICIENCY LEVEL, 2022
TABLE 24 ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
6.2 IE1
6.2.1 IDEAL FOR APPLICATIONS THAT DO NOT REQUIRE HIGH ENERGY EFFICIENCY
TABLE 25 IE1: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.3 IE2
6.3.1 REDUCE ENERGY CONSUMPTION IN EQUIPMENT
TABLE 26 IE2: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.4 IE3
6.4.1 USED IN HIGH POWER APPLICATIONS
TABLE 27 IE3: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.5 IE4
6.5.1 UPGRADE TO IE4 FACILITATES ADDITIONAL ENERGY SAVINGS
TABLE 28 IE4: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
6.6 IE5
6.6.1 IE5 MOTORS OFFER HIGHEST LEVEL OF EFFICIENCY
TABLE 29 IE5: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
7 ENERGY EFFICIENT MOTOR MARKET, BY INSTALLATION TYPE
7.1 INTRODUCTION
7.2 OPEN DRIP PROOF (ODP) MOTOR
7.2.1 SUITABLE FOR USE IN RELATIVELY CLEAN AND DRY ENVIRONMENTS
7.3 TOTALLY ENCLOSED FAN – COOLED (TEFC) MOTOR
7.3.1 IDEAL FOR USAGE IN HARSH ENVIRONMENTS
8 ENERGY EFFICIENT MOTOR MARKET, BY TYPE
8.1 INTRODUCTION
FIGURE 36 ENERGY EFFICIENT MOTOR MARKET SHARE, BY TYPE, 2022
TABLE 30 ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
8.2 AC MOTORS
8.2.1 LESS MAINTENANCE REQUIREMENTS AND EFFICIENT PERFORMANCE TO PROPEL ADOPTION OF AC MOTORS
TABLE 31 AC MOTORS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
8.3 DC MOTORS
8.3.1 PRECISE SPEED CONTROL AND PERFORMANCE EXPECTED TO DRIVE MARKET
TABLE 32 DC MOTORS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING
9.1 INTRODUCTION
FIGURE 37 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2022
TABLE 33 ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
9.2 <1 KW
9.2.1 IDEAL FOR RESIDENTIAL AND COMMERCIAL APPLICATIONS
TABLE 34 <1 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9.3 1–2.2 KW
9.3.1 VERSATILE AND OFFER RELIABILITY IN OPERATIONS
TABLE 35 1–2.2 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9.4 2.2–375 KW
9.4.1 CAPABLE OF HANDLING HIGHER LOADS AND SUITABLE FOR HEAVY-DUTY APPLICATIONS
TABLE 36 2.2–375 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
9.5 >375 KW
9.5.1 IDEAL FOR CRITICAL APPLICATIONS
TABLE 37 >375 KW: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 38 ENERGY EFFICIENT MOTOR MARKET SHARE, 2022
TABLE 38 ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
10.2 HVAC
10.2.1 GROWING FOCUS ON REDUCING POWER LOSS IN HVAC SYSTEMS TO PROPEL ADOPTION OF ENERGY-EFFICIENT MOTORS
TABLE 39 HVAC: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.3 PUMPS
10.3.1 GROWING DEMAND FOR ENERGY-EFFICIENT MOTORS FROM AGRICULTURE AND INDUSTRIAL SECTORS TO ACCELERATE MARKET GROWTH
TABLE 40 PUMPS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.4 FANS
10.4.1 GROWING ADOPTION OF ENERGY-EFFICIENT MOTOR-BASED FANS IN DEVICES TO AUGMENT MARKET GROWTH
TABLE 41 FANS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.5 COMPRESSORS
10.5.1 RISING ENERGY EFFICIENCY REQUIREMENTS IN INDUSTRIES TO PROPEL ADOPTION OF ENERGY-EFFICIENT MOTORS IN COMPRESSORS
TABLE 42 COMPRESSORS: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.6 REFRIGERATION
10.6.1 DEVELOPMENT OF COLD CHAINS TO GENERATE DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 43 REFRIGERATION: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.7 MATERIAL HANDLING
10.7.1 RISING ADOPTION OF MOBILE ROBOTS IN INDUSTRIES TO PROPEL SEGMENTAL LANDSCAPE
TABLE 44 MATERIAL HANDLING: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
10.8 MATERIAL PROCESSING
10.8.1 INCREASING REPLACEMENT OF OBSOLETE INFRASTRUCTURE IN INDUSTRIES TO TRIGGER DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 45 MATERIAL PROCESSING: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11 ENERGY EFFICIENT MOTOR MARKET, BY END USER
11.1 INTRODUCTION
FIGURE 39 ENERGY EFFICIENT MOTOR MARKET SHARE, BY END USER, 2022
TABLE 46 ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
11.2 INDUSTRIAL
11.2.1 NEED TO IMPROVE ENERGY EFFICIENCY, LOWER OPERATING COSTS, AND REDUCE DOWNTIME TO DRIVE ADOPTION OF ENERGY-EFFICIENT MOTORS
TABLE 47 INDUSTRIAL: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.3 COMMERCIAL
11.3.1 NEED TO REDUCE MAINTENANCE COSTS TO ACCELERATE ADOPTION OF ENERGY-EFFICIENT MOTORS
TABLE 48 COMMERCIAL: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.4 RESIDENTIAL
11.4.1 FOCUS ON REDUCING ENERGY CONSUMPTION AND UTILITY BILLS TO BOOST UPTAKE OF ENERGY-EFFICIENT MOTORS
TABLE 49 RESIDENTIAL: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.5 AUTOMOTIVE
11.5.1 GROWING ADOPTION OF ELECTRIC VEHICLES TO GENERATE DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 50 AUTOMOTIVE: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.6 AGRICULTURE
11.6.1 INCREASING EMPHASIS ON REDUCING OPERATING COSTS IN FARMING TO BOOST CONSUMPTION OF ENERGY-EFFICIENT MOTORS
TABLE 51 AGRICULTURE: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
11.7 AEROSPACE & DEFENSE
11.7.1 NEED TO IMPROVE FUEL EFFICIENCY, REDUCE EMISSIONS, AND INCREASE SYSTEM RELIABILITY TO DRIVE DEMAND FOR ENERGY-EFFICIENT MOTORS
TABLE 52 AEROSPACE & DEFENSE: ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
12 ENERGY EFFICIENT MOTOR MARKET, BY REGION
12.1 INTRODUCTION
FIGURE 40 ASIA PACIFIC ENERGY EFFICIENT MOTOR MARKET TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
FIGURE 41 ENERGY EFFICIENT MOTOR MARKET SHARE, BY REGION, 2022 (%)
TABLE 53 ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (USD MILLION)
TABLE 54 ENERGY EFFICIENT MOTOR MARKET, BY REGION, 2021–2028 (MILLION UNITS)
12.2 ASIA PACIFIC
FIGURE 42 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET SNAPSHOT
12.2.1 ASIA PACIFIC: RECESSION IMPACT
12.2.2 BY EFFICIENCY LEVEL
TABLE 55 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.2.3 BY TYPE
TABLE 56 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.2.4 BY POWER OUTPUT RATING
TABLE 57 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.2.5 BY END USER
TABLE 58 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.6 BY APPLICATION
TABLE 59 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.2.7 BY COUNTRY
TABLE 60 ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.2.7.1 China
12.2.7.1.1 Government policies to promote energy efficiency and environmental concerns to drive market
TABLE 61 CHINA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.2 Australia
12.2.7.2.1 National Energy Productivity Plan to support market growth
TABLE 62 AUSTRALIA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.3 Japan
12.2.7.3.1 Rising focus on carbon neutrality to push market growth
TABLE 63 JAPAN: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.4 India
12.2.7.4.1 Ongoing industrialization to induce demand for energy-efficient motors
TABLE 64 INDIA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.5 South Korea
12.2.7.5.1 Strategic energy efficiency policies introduced by government to drive market
TABLE 65 SOUTH KOREA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.2.7.6 Rest of Asia Pacific
TABLE 66 REST OF ASIA PACIFIC: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.3 NORTH AMERICA
12.3.1 NORTH AMERICA: RECESSION IMPACT
FIGURE 43 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET SNAPSHOT
12.3.2 BY EFFICIENCY LEVEL
TABLE 67 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.3.3 BY TYPE
TABLE 68 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.3.4 BY POWER OUTPUT RATING
TABLE 69 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.3.5 BY END USER
TABLE 70 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.3.6 BY APPLICATION
TABLE 71 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.3.7 BY COUNTRY
TABLE 72 NORTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.3.7.1 US
12.3.7.1.1 Energy efficiency standards and regulation across sectors to boost market
TABLE 73 US: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.3.7.2 Canada
12.3.7.2.1 Stringent energy efficiency regulations and growing automotive sector to fuel market growth
TABLE 74 CANADA: ENERGY EFFICIENT MOTOR MARKET, BY END USER 2021–2028 (USD MILLION)
12.3.7.3 Mexico
12.3.7.3.1 Energy efficiency programs under NAMA to accelerate market growth
TABLE 75 MEXICO: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4 EUROPE
FIGURE 44 EUROPE: ENERGY EFFICIENT MOTOR MARKET SNAPSHOT
12.4.1 EUROPE: RECESSION IMPACT
12.4.2 BY EFFICIENCY LEVEL
TABLE 76 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.4.3 BY POWER OUTPUT RATING
TABLE 77 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.4.4 BY TYPE
TABLE 78 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.4.5 BY APPLICATION
TABLE 79 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.4.6 BY END USER
TABLE 80 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7 BY COUNTRY
TABLE 81 EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.4.7.1 UK
12.4.7.1.1 Expanding aerospace & defense industry to drive market
TABLE 82 UK: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.2 Germany
12.4.7.2.1 Flourishing industrial sector and emission reduction targets to bolster adoption of energy-efficient motors
TABLE 83 GERMANY: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.3 France
12.4.7.3.1 Decarbonization policies to propel adoption of energy-efficient motors
TABLE 84 FRANCE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.4 Italy
12.4.7.4.1 Rising electric vehicle adoption to create demand for energy-efficient motors
TABLE 85 ITALY: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.5 Spain
12.4.7.5.1 Growing energy efficiency targets to propel market
TABLE 86 SPAIN: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.6 Poland
12.4.7.6.1 Growing investments in industrial sector to create demand for energy-efficient motors
TABLE 87 POLAND: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.4.7.7 Rest of Europe
TABLE 88 REST OF EUROPE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5 MIDDLE EAST & AFRICA
12.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT
12.5.2 BY EFFICIENCY LEVEL
TABLE 89 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.5.3 BY TYPE
TABLE 90 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.5.4 BY POWER OUTPUT RATING
TABLE 91 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.5.5 BY END USER
TABLE 92 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.6 BY APPLICATION
TABLE 93 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.5.7 BY COUNTRY
TABLE 94 MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.5.7.1 Saudi Arabia
12.5.7.1.1 Government energy efficiency programs to augment market growth
TABLE 95 SAUDI ARABIA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.2 UAE
12.5.7.2.1 Increasing energy consumption and need to achieve net-zero targets to foster market growth
TABLE 96 UAE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.3 Turkey
12.5.7.3.1 Growing initiatives to improve energy efficiency in various sectors to bolster market growth
TABLE 97 TURKEY: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.4 South Africa
12.5.7.4.1 Supportive energy efficiency regulations to favor market expansion
TABLE 98 SOUTH AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.5 Egypt
12.5.7.5.1 Government initiatives to improve industrial energy efficiency to fuel market growth
TABLE 99 EGYPT: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.6 Qatar
12.5.7.6.1 Energy efficiency and conservation programs to encourage market growth
TABLE 100 QATAR: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.7 Israel
12.5.7.7.1 Energy efficiency labeling mandates and net-zero targets in various sectors to induce demand for energy-efficient motors
TABLE 101 ISRAEL: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.5.7.8 Rest of Middle East & Africa
TABLE 102 REST OF MIDDLE EAST & AFRICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6 SOUTH AMERICA
12.6.1 SOUTH AMERICA: RECESSION IMPACT
12.6.2 BY EFFICIENCY LEVEL
TABLE 103 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY EFFICIENCY LEVEL, 2021–2028 (USD MILLION)
12.6.3 BY POWER OUTPUT RATING
TABLE 104 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY POWER OUTPUT RATING, 2021–2028 (USD MILLION)
12.6.4 BY TYPE
TABLE 105 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY TYPE, 2021–2028 (USD MILLION)
12.6.5 BY APPLICATION
TABLE 106 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY APPLICATION, 2021–2028 (USD MILLION)
12.6.6 BY END USER
TABLE 107 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7 BY COUNTRY
TABLE 108 SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
12.6.7.1 Brazil
12.6.7.1.1 Growing aerospace & defense industry to drive market
TABLE 109 BRAZIL: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7.2 Argentina
12.6.7.2.1 Rising production of electronic equipment to propel market landscape
TABLE 110 ARGENTINA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7.3 Chile
12.6.7.3.1 Flourishing industrial sector to accelerate market growth
TABLE 111 CHILE: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
12.6.7.4 Rest of South America
TABLE 112 REST OF SOUTH AMERICA: ENERGY EFFICIENT MOTOR MARKET, BY END USER, 2021–2028 (USD MILLION)
13 COMPETITIVE LANDSCAPE
13.1 KEY PLAYER STRATEGIES
TABLE 113 OVERVIEW OF STRATEGIES ADOPTED BY KEY MANUFACTURERS OF ENERGY-EFFICIENT MOTORS
13.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS, 2021
FIGURE 45 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS IN ENERGY EFFICIENT MOTOR MARKET, 2021
TABLE 114 ENERGY EFFICIENT MOTOR MARKET: DEGREE OF COMPETITION
13.3 ENERGY EFFICIENT MOTOR MARKET SHARE ANALYSIS, 2021
FIGURE 46 ENERGY EFFICIENT MOTOR MARKET SHARE ANALYSIS, 2021
13.4 FIVE-YEAR COMPANY REVENUE ANALYSIS
FIGURE 47 REVENUE ANALYSIS OF TOP FIVE PLAYERS IN ENERGY EFFICIENT MOTOR MARKET FROM 2017 TO 2021
13.5 COMPANY EVALUATION QUADRANT
13.5.1 STARS
13.5.2 PERVASIVE PLAYERS
13.5.3 EMERGING LEADERS
13.5.4 PARTICIPANTS
FIGURE 48 ENERGY EFFICIENT MOTOR MARKET (GLOBAL): KEY COMPANY EVALUATION QUADRANT, 2021
13.6 START-UPS/SMES EVALUATION QUADRANT
13.6.1 PROGRESSIVE COMPANIES
13.6.2 RESPONSIVE COMPANIES
13.6.3 DYNAMIC COMPANIES
13.6.4 STARTING BLOCKS
FIGURE 49 ENERGY EFFICIENT MOTOR MARKET: START-UPS/SMES EVALUATION QUADRANT, 2021
13.7 COMPETITIVE BENCHMARKING
TABLE 115 ENERGY EFFICIENT MOTOR MARKET: DETAILED LIST OF KEY START-UPS/SMES
TABLE 116 ENERGY EFFICIENT MOTOR MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
13.8 ENERGY EFFICIENT MOTOR MARKET: COMPANY FOOTPRINT
TABLE 117 POWER OUTPUT RATING: COMPANY FOOTPRINT
TABLE 118 EFFICIENCY LEVEL: COMPANY FOOTPRINT
TABLE 119 APPLICATION: COMPANY FOOTPRINT
TABLE 120 REGION: COMPANY FOOTPRINT
TABLE 121 COMPANY FOOTPRINT
13.9 COMPETITIVE SCENARIOS AND TRENDS
TABLE 122 ENERGY EFFICIENT MOTOR MARKET: PRODUCT LAUNCHES, NOVEMBER 2020–MAY 2022
TABLE 123 ENERGY EFFICIENT MOTOR MARKET: DEALS, JULY 2019–OCTOBER 2022
TABLE 124 ENERGY EFFICIENT MOTOR MARKET: OTHERS, JULY 2021–FEBRUARY 2022
14 COMPANY PROFILES
14.1 KEY PLAYERS
(Business Overview, Products/Solutions offered, Recent Developments, MnM View)*
14.1.1 ABB
TABLE 125 ABB: COMPANY OVERVIEW
FIGURE 50 ABB: COMPANY SNAPSHOT
TABLE 126 ABB: PRODUCTS/SOLUTIONS OFFERED
TABLE 127 ABB: PRODUCT LAUNCHES
TABLE 128 ABB: DEALS
TABLE 129 ABB: OTHERS
14.1.2 SIEMENS
TABLE 130 SIEMENS: COMPANY OVERVIEW
FIGURE 51 SIEMENS: COMPANY SNAPSHOT
TABLE 131 SIEMENS: PRODUCTS/SOLUTIONS OFFERED
TABLE 132 SIEMENS: PRODUCT LAUNCHES
TABLE 133 SIEMENS: DEALS
TABLE 134 SIEMENS: OTHERS
14.1.3 WEG
TABLE 135 WEG: COMPANY OVERVIEW
FIGURE 52 WEG: COMPANY SNAPSHOT
TABLE 136 WEG: PRODUCTS/SOLUTIONS OFFERED
TABLE 137 WEG: PRODUCT LAUNCHES
TABLE 138 WEG: DEALS
TABLE 139 WEG: OTHERS
14.1.4 WOLONG ELECTRIC GROUP CO., LTD
TABLE 140 WOLONG ELECTRIC GROUP CO., LTD: COMPANY OVERVIEW
TABLE 141 WOLONG ELECTRIC GROUP CO., LTD: PRODUCTS/SOLUTIONS OFFERED
TABLE 142 WOLONG ELECTRIC GROUP CO., LTD: OTHERS
14.1.5 NIDEC CORPORATION
TABLE 143 NIDEC CORPORATION: COMPANY OVERVIEW
FIGURE 53 NIDEC CORPORATION: COMPANY SNAPSHOT
TABLE 144 NIDEC CORPORATION: PRODUCTS/SOLUTIONS OFFERED
TABLE 145 NIDEC CORPORATION: PRODUCT LAUNCHES
TABLE 146 NIDEC CORPORATION: OTHERS
14.1.6 ROCKWELL AUTOMATION
TABLE 147 ROCKWELL AUTOMATION: COMPANY OVERVIEW
FIGURE 54 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
TABLE 148 ROCKWELL AUTOMATION: PRODUCTS/SOLUTIONS OFFERED
14.1.7 CG POWER AND INDUSTRIAL SOLUTIONS LTD.
TABLE 149 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW
FIGURE 55 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT
TABLE 150 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: PRODUCTS/SOLUTIONS OFFERED
14.1.8 REGAL REXNORD CORPORATION
TABLE 151 REGAL REXNORD CORPORATION: COMPANY OVERVIEW
FIGURE 56 REGAL REXNORD CORPORATION: COMPANY SNAPSHOT
TABLE 152 REGAL REXNORD CORPORATION: PRODUCTS/SOLUTIONS OFFERED
14.1.9 TOSHIBA CORPORATION
TABLE 153 TOSHIBA CORPORATION: COMPANY OVERVIEW
FIGURE 57 TOSHIBA CORPORATION: COMPANY SNAPSHOT
TABLE 154 TOSHIBA CORPORATION: PRODUCTS/SOLUTIONS OFFERED
14.1.10 BHARAT BIJLEE
TABLE 155 BHARAT BIJLEE: BUSINESS OVERVIEW
FIGURE 58 BHARAT BIJLEE: COMPANY SNAPSHOT, 2021
TABLE 156 BHARAT BIJILEE: PRODUCTS/SOLUTIONS OFFERED
TABLE 157 BHARAT BIJILEE: PRODUCT LAUNCHES
TABLE 158 BHARAT BIJILEE: OTHERS
14.1.11 KIRLOSKAR ELECTRIC
TABLE 159 KIRLOSKAR ELECTRIC: COMPANY OVERVIEW
FIGURE 59 KIRLOSKAR ELECTRIC: COMPANY SNAPSHOT
TABLE 160 KIRLOSKAR ELECTRIC: PRODUCTS/SOLUTIONS OFFERED
14.1.12 HOYER MOTORS
TABLE 161 HOYER MOTORS: COMPANY OVERVIEW
TABLE 162 HOYER MOTORS: PRODUCTS/SOLUTIONS OFFERED
14.1.13 OME MOTORS
TABLE 163 OME MOTORS: COMPANY OVERVIEW
TABLE 164 OME MOTORS: PRODUCTS/SOLUTIONS OFFERED
14.1.14 EC FANS AND DRIVES
TABLE 165 EC FANS AND DRIVES: COMPANY OVERVIEW
TABLE 166 EC FANS AND DRIVES: PRODUCTS/SOLUTIONS OFFERED
14.1.15 INTEGRATED ELECTRIC CO., PVT. LTD.
TABLE 167 INTEGRATED ELECTRIC CO., PVT. LTD.: COMPANY OVERVIEW
TABLE 168 INTEGRATED ELECTRIC CO., PVT. LTD.: PRODUCTS/SOLUTIONS OFFERED
14.1.16 HAVELLS
14.1.17 MITSUBISHI ELECTRIC
14.1.18 ELEKTRIM MOTORS
14.1.19 SHANGHAI TOP MOTOR CO., LTD.
14.1.20 MENZEL ELEKTROMOTOREN GMBH
*Details on Business Overview, Products/Solutions offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
14.2 OTHER PLAYERS
15 APPENDIX
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 CUSTOMIZATION OPTIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
According to the new market research report on the "Energy Efficient Motor Market by Efficiency Level (IE1, IE2, IE3, and IE4), Type, Application (HVAC, Fans, Pumps, Compressors, Refrigeration, Material Handling, and Material Processing), Vertical and Geography - Global Forecast to 2023", the energy efficient motor market is expected to reach USD 41.57 Billion by 2023 from USD 30.34 Billion in 2018, at a CAGR of 6.5% between 2018 and 2023. The major factors driving the growth of the energy efficient motor market are saving of energy and subsequent cost over traditional motors, increasing support from governments worldwide for the adoption of energy efficient motors, rising need to diminish greenhouse effect, and increasing adoption of energy efficient motors in the industrial sector.
The key players in this market are
- ABB (Switzerland)
- Siemens (Germany)
- WEG (Brazil)
- GE (US)
- Schneider Electric (France)
- Nidec (Japan)
- Rockwell (US)
- CG (India)
- Bosch Rexroth (Germany)
- Kirloskar Electric (India)
IE2 (high efficiency) expected to hold largest share of energy efficient motor market for efficiency level, in terms of value, during forecast period
IE2 motors have efficiency levels equivalent to the CEMEP EFF1 class and EPAct level. IE2 motors can be used with inverters as an alternative to the IE3 motors. Moreover, the market has witnessed a significant shift from IE1 motors to IE2 motors as IE2 motors have greater efficiency than EFF2 motors and produce less residual heat. Further, IE2 has become mandatory minimum energy performance standard (MEPS) in all the regions, which would positively impact the growth rate of the market for IE2 motors. These factors would continue to assist the growth of the energy efficient motor market for the IE2 efficiency in the coming years too.
Energy efficient motor market for HVAC application would grow at highest CAGR during forecast period
Energy efficient electric motors are used in heating, ventilation, and air conditioning (HVAC) solutions, especially used in commercial buildings. HVAC systems are based on the laws of thermodynamics, and principles of fluid mechanics and heat transfer. These motors are equipped in the electromechanical products such as pumps, fans, compressors, and refrigerators. The main objectives of the HVAC systems are to maintain good indoor air quality through sufficient ventilation through the filtered air and provide thermal comfort. The growth of the market for the HVAC application is propelled by the government support, increasing industrialization and urbanization, development of advanced solutions, and growing demand for energy-efficient devices.
Industrial vertical held largest share of the overall energy efficient motor market, in terms of value, in 2017
Energy efficient motors are extensively used in various industries, including oil and gas, marine, power and energy, mining, and water and wastewater to bring down energy consumption along with, consequently, reducing the operational cost. Electric motors account for ~60-70% of the total electricity consumed in the industrial sector, which is encouraging the electric motor manufacturers to improve the motor efficiencies. The growing need for the energy efficient motors has resulted into increase in adoption of these motors. Energy consumption is one of the major economic and environmental issues associated with the electric motor systems. The demand for energy efficient motors in various industries is increasing to reduce the electricity consumption and lower carbon dioxide (CO2) emissions.
Energy efficient motor market in Asia Pacific to grow at highest CAGR during forecast period
APAC is likely to be one of the fastest-growing regions in the energy efficient motor market by 2018, and the market in this region is expected to grow at the highest CAGR during the forecast period. According to Asian Development Bank (ADB), the share of the region to the global energy consumption is expected to increase from 34% in 2010 to 56% by 2035. ADB has made investments worth USD 970 million in energy efficiency projects, which would help APAC countries to meet their national target for energy efficiency and greenhouse gas emission reduction by 2020.
