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Report
Energy Efficient Motors - A Global Market Overview
Market Report I 2024-09-19 I 360 Pages I Industry Experts
Energy Efficient Motors Market Trends and Outlook
An Energy Efficient Motor is a machine which alters electrical energy into mechanical energy with nominal energy loss. These motors are precisely designed and manufactured to offer higher operational efficiency compared to conventional motors. The major purpose of Energy Efficient Motors is to lessen energy losses & consumption, reduce noise pollution, minimize operational costs, provide resistance against fluctuating voltages and save on environmental impact. These motors are widely employed in various applications, including HVAC systems, industrial machinery and electric vehicles, to name a few.
The global market for Energy Efficient Motors is estimated at US$45.6 billion in 2024 and is anticipated to post a CAGR of 8.6% during the 2024-2030 analysis period and stand at a projected US$74.9 billion by 2030.
The worldwide demand for Energy Efficient Motors is expected to clock a robust growth over the analysis period owing to several reasons, including government policies promoting the use of such motors, frequently increasing energy prices requiring wider use, growing awareness about environmental degradation caused by traditional motors and their greater effectiveness than conventional motors. These motors enable companies to achieve sustainable goals by reducing carbon footprints. In addition, continuous improvements in motor designs have resulted in enhanced efficiency and a large number of industries are opting for these motors because of their cost-effectiveness, durability and low maintenance.
Energy Efficient Motors Regional Market Analysis
Regionally, North America is anticipated to hold the largest share in the global market for Energy Efficient Motors. The major factors for this include investments being made in key sectors, such as Automotive and Aerospace & Defense. The presence of leading manufacturers in these sectors, along with the obvious benefits offered, play a key role in wider adoption of Energy Efficient Motors, owing to which the region is expected to hold its number one position. However, the demand for these motors in Asia-Pacific is expected to grow at the fastest rate as a result of various initiatives to encourage industries to transition to higher-efficiency motors (HEMs) that use less power for countering rising energy prices and minimizing growing concerns over energy efficiency.
Energy Efficient Motors Market Analysis by Product Type
AC & DC Motors are the two types of Energy Efficient Motors used, among which the former account for a larger share in the global market for these motor types. The growing acceptance of the same can be attributed to several factors that include advancement in motor designs, resulting in significant energy savings and reducing operating costs for consumers and applicability in sectors ranging from HVAC to industrial machinery. Technological innovations and developments in motor control drive systems have enhanced overall efficiency by minimizing energy usage and providing accurate speed control. Additionally, growing awareness about sustainability and energy conservation for mitigating carbon footprints and regulations enforced by governments have played a crucial role in promoting the demand for AC motors.
Energy Efficient Motors Market Analysis by Efficiency Level
Efficient Electric Motors are classified into efficiency grades as IE1, IE2, IE3 and IE4 as per their energy consumption and operational competencies. Within these, IE4 Super Premium accounts for the largest global market share for Energy Efficient Motors, owing to growing awareness of environmental sustainability & energy conservation, as well as stringent government laws and industry standards mandating the usage of IE4 motors. An increasing number of companies are adopting IE4 motors for increased energy efficiency due to rising energy costs and an increasing focus on operational cost savings. Additionally, advancements in design and materials, coupled with other motor technology advancements, have made motors with IE4 efficiency more appealing to end users.
Energy Efficient Motors Market Analysis by Application
The global market for Energy Efficient Motors is assumed to be led by Heating, Ventilation & Air-Conditioning (HVAC) applications. Such systems are usually equipped with a substantial number of motors for carrying out operations in various end-use sectors, prominent among which includes Building & Construction. The use of Energy Efficient Motors in this area has been found to enhance energy efficiency and result in considerable energy savings. In addition, the rising emphasis on preserving indoor air quality at workplaces and manufacturing facilities and need for energy-efficient appliances contributing to the HVAC industry's expansion. Because of these factors, the market for Energy Efficient Motors in HVAC applications will also likely register the fastest growth over the analysis period.
Energy Efficient Motors Market Analysis by End-Use Sector
By end-use, Building & Construction is estimated to be the largest sector for Energy Efficient Motors worldwide. The key factors for this include extensive use of these motors in HVAC systems that find wide application in this sector, growing environmental awareness, strict energy use regulations, advances in motor technology and cost-effectiveness in terms of lower utility costs and longer motor lifespans. However, Automotive is expected to be the fastest growing end-use sector for Energy Efficient Motors, the major factor for which is the industry's transition to sustainability and surging demand for electric vehicles (EVs). Some of the types of energy efficient motors typically used in these vehicles include synchronous & permanent magnet synchronous motors (both AC motors) and brushless DC motors. Among these, synchronous AC motors provide the greatest efficiency with up to 99% conversion rate of electrical and mechanical energy.
Energy Efficient Motors Market Report Scope
This global report on Energy Efficient Motors analyzes the market based on product type, efficiency level, application and end-use sector, in addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.
Key Metrics
Historical Period: 2021-2023
Base Year: 2023
Forecast Period: 2024-2030
Units: Value market in US$
Companies Mentioned: 30+
Energy Efficient Motors Market by Geographic Region
- North America (The United States, Canada and Mexico)
- Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
- South America (Argentina, Brazil and Rest of South America)
- Rest of World (Middle East & Africa)
Energy Efficient Motors Market By Product Type
- AC Motors
- DC Motors
Energy Efficient Motors Market By Efficiency Level
- IE1
- IE2
- IE3
- IE4
Energy Efficient Motors Market By Application
- Compressors
- Fans
- HVAC (Heating, Ventilation & Air-Conditioning)
- Pumps
- Others (Incl. Material Handling & Material Processing Equipment)
Energy Efficient Motors Market By End-Use Sector
- Aerospace & Defense
- Agriculture
- Automotive
- Building & Construction
- Chemical
- Pharmaceutical
PART A: GLOBAL MARKET PERSPECTIVE
1. Introduction
- Product Outline
- Energy Efficient Motors Defined
- Energy Efficient Motors Types
o AC Motors
o DC Motors
- Energy Efficient Motors Types by Efficiency Level
o IE1
o IE2
o IE3
o IE4
- Energy Efficient Motors Applications
o Compressors
o Fans
o HVAC (Heating, Ventilation and Air Conditioning)
o Pumps
o Other Applications (Inc. Material Handling & Material Processing)
- Energy Efficient Motors End-Use Sectors
o Commercial
o Industrial
o Residential
o Other End-Use Sectors (Inc. Agriculture, Automotive, Aerospace & Defense)
2. Key Market Trends
3. Key Global Players
- ABB Ltd
- AG Regal
- Baldor Electric Co
- Beloit Corp
- Bharat Bijlee Ltd
- Bosch Rexroth AG
- Brook Crompton Greaves Ltd
- CG Power and Industrial Solutions Ltd
- Crompton Greaves Consumer Electricals Ltd
- Elektrim Motors
- Emerson Electric Co
- General Electric
- Havells India Ltd
- Honeywell International, Inc.
- Hoyer Motors
- Integrated Electric Co Pvt Ltd
- Johnson Controls, Inc.
- Kirloskar Electric Co Ltd
- Magnetek, Inc.
- Marathon Electric India Pvt Ltd
- Maxon Motors AG
- Microchip Technology, Inc.
- Mitsubishi Electric
- Nidec Motor Corp
- NXP Semiconductors
- Regal Beloit Corp
- Regal Rexnord Corp
- Rockwell Automation
- Schneider Electric SE
- Shanghai Top Motor Co Ltd
- Siemens AG
- STMicroelectronics
- Texas Instruments
- Toshiba Corp
- Toshiba Mitsubishi-Electric Industry Systems Corporation (TMEIC)
- United Technologies Corp
- WEG Equipamentos Eletricos SA
- Wolong Electric Group Co Ltd
4. Key Business & Product Trends
5. Global Market Overview
- Global Energy Efficient Motors Market Overview by Product Type
o Energy Efficient Motors Product Type Market Overview by Global Region
- AC Motors
- DC Motors
- Global Energy Efficient Motors Market Overview by Efficiency Level
o Energy Efficient Motors Efficiency Level Market Overview by Global Region
- IE1
- IE2
- IE3
- IE4
- Global Energy Efficient Motors Market Overview by Application
o Energy Efficient Motors Application Market Overview by Global Region
- Compressors
- Fans
- HVAC (Heating, Ventilation and Air Conditioning)
- Pumps
- Others (Inc. Material Handling & Material Processing)
- Global Energy Efficient Motors Market Overview by End-Use Sector
o Energy Efficient Motors End-Use Sector Market Overview by Global Region
- Commercial
- Industrial
- Residential
- Others (Inc. Agriculture, Automotive, Aerospace & Defense)
PART B: REGIONAL MARKET PERSPECTIVE
- Global Energy Efficient Motors Market Overview by Geographic Region
REGIONAL MARKET OVERVIEW
6. North America
- North American Energy Efficient Motors Market Overview by Geographic Region
- North American Energy Efficient Motors Market Overview by Product Type
- North American Energy Efficient Motors Market Overview by Efficiency Level
- North American Energy Efficient Motors Market Overview by Application
- North American Energy Efficient Motors Market Overview by End-Use Sector
- Country-wise Analysis of North American Energy Efficient Motors Market
o The United States
- United States Energy Efficient Motors Market Overview by Product Type
- United States Energy Efficient Motors Market Overview by Efficiency Level
- United States Energy Efficient Motors Market Overview by Application
- United States Energy Efficient Motors Market Overview by End-Use Sector
o Canada
- Canadian Energy Efficient Motors Market Overview by Product Type
- Canadian Energy Efficient Motors Market Overview by Efficiency Level
- Canadian Energy Efficient Motors Market Overview by Application
- Canadian Energy Efficient Motors Market Overview by End-Use Sector
o Mexico
- Mexican Energy Efficient Motors Market Overview by Product Type
- Mexican Energy Efficient Motors Market Overview by Efficiency Level
- Mexican Energy Efficient Motors Market Overview by Application
- Mexican Energy Efficient Motors Market Overview by End-Use Sector
7. Europe
- European Energy Efficient Motors Market Overview by Geographic Region
- European Energy Efficient Motors Market Overview by Product Type
- European Energy Efficient Motors Market Overview by Efficiency Level
- European Energy Efficient Motors Market Overview by Application
- European Energy Efficient Motors Market Overview by End-Use Sector
- Country-wise Analysis of European Energy Efficient Motors Market
o France
- French Energy Efficient Motors Market Overview by Product Type
- French Energy Efficient Motors Market Overview by Efficiency Level
- French Energy Efficient Motors Market Overview by Application
- French Energy Efficient Motors Market Overview by End-Use Sector
o Germany
- German Energy Efficient Motors Market Overview by Product Type
- German Energy Efficient Motors Market Overview by Efficiency Level
- German Energy Efficient Motors Market Overview by Application
- German Energy Efficient Motors Market Overview by End-Use Sector
o Italy
- Italian Energy Efficient Motors Market Overview by Product Type
- Italian Energy Efficient Motors Market Overview by Efficiency Level
- Italian Energy Efficient Motors Market Overview by Application
- Italian Energy Efficient Motors Market Overview by End-Use Sector
o Russia
- Russian Energy Efficient Motors Market Overview by Product Type
- Russian Energy Efficient Motors Market Overview by Efficiency Level
- Russian Energy Efficient Motors Market Overview by Application
- Russian Energy Efficient Motors Market Overview by End-Use Sector
o Spain
- Spanish Energy Efficient Motors Market Overview by Product Type
- Spanish Energy Efficient Motors Market Overview by Efficiency Level
- Spanish Energy Efficient Motors Market Overview by Application
- Spanish Energy Efficient Motors Market Overview by End-Use Sector
o The United Kingdom
- United Kingdom Energy Efficient Motors Market Overview by Product Type
- United Kingdom Energy Efficient Motors Market Overview by Efficiency Level
- United Kingdom Energy Efficient Motors Market Overview by Application
- United Kingdom Energy Efficient Motors Market Overview by End-Use Sector
o Rest of Europe
- Rest of Europe Energy Efficient Motors Market Overview by Product Type
- Rest of Europe Energy Efficient Motors Market Overview by Efficiency Level
- Rest of Europe Energy Efficient Motors Market Overview by Application
- Rest of Europe Energy Efficient Motors Market Overview by End-Use Sector
8. Asia-Pacific
- Asia-Pacific Energy Efficient Motors Market Overview by Geographic Region
- Asia-Pacific Energy Efficient Motors Market Overview by Product Type
- Asia-Pacific Energy Efficient Motors Market Overview by Efficiency Level
- Asia-Pacific Energy Efficient Motors Market Overview by Application
- Asia-Pacific Energy Efficient Motors Market Overview by End-Use Sector
- Country-wise Analysis of Asia-Pacific Energy Efficient Motors Market
o China
- Chinese Energy Efficient Motors Market Overview by Product Type
- Chinese Energy Efficient Motors Market Overview by Efficiency Level
- Chinese Energy Efficient Motors Market Overview by Application
- Chinese Energy Efficient Motors Market Overview by End-Use Sector
o India
- Indian Energy Efficient Motors Market Overview by Product Type
- Indian Energy Efficient Motors Market Overview by Efficiency Level
- Indian Energy Efficient Motors Market Overview by Application
- Indian Energy Efficient Motors Market Overview by End-Use Sector
o Japan
- Japanese Energy Efficient Motors Market Overview by Product Type
- Japanese Energy Efficient Motors Market Overview by Efficiency Level
- Japanese Energy Efficient Motors Market Overview by Application
- Japanese Energy Efficient Motors Market Overview by End-Use Sector
o South Korea
- South Korean Energy Efficient Motors Market Overview by Product Type
- South Korean Energy Efficient Motors Market Overview by Efficiency Level
- South Korean Energy Efficient Motors Market Overview by Application
- South Korean Energy Efficient Motors Market Overview by End-Use Sector
o Rest of Asia-Pacific
- Rest of Asia-Pacific Energy Efficient Motors Market Overview by Product Type
- Rest of Asia-Pacific Energy Efficient Motors Market Overview by Efficiency Level
- Rest of Asia-Pacific Energy Efficient Motors Market Overview by Application
- Rest of Asia-Pacific Energy Efficient Motors Market Overview by End-Use Sector
9. South America
- South American Energy Efficient Motors Market Overview by Geographic Region
- South American Energy Efficient Motors Market Overview by Product Type
- South American Energy Efficient Motors Market Overview by Efficiency Level
- South American Energy Efficient Motors Market Overview by Application
- South American Energy Efficient Motors Market Overview by End-Use Sector
- Country-wise Analysis of South American Energy Efficient Motors Market
o Argentina
- Argentine Energy Efficient Motors Market Overview by Product Type
- Argentine Energy Efficient Motors Market Overview by Efficiency Level
- Argentine Energy Efficient Motors Market Overview by Application
- Argentine Energy Efficient Motors Market Overview by End-Use Sector
o Brazil
- Brazilian Energy Efficient Motors Market Overview by Product Type
- Brazilian Energy Efficient Motors Market Overview by Efficiency Level
- Brazilian Energy Efficient Motors Market Overview by Application
- Brazilian Energy Efficient Motors Market Overview by End-Use Sector
o Rest of South America
- Rest of South American Energy Efficient Motors Market Overview by Product Type
- Rest of South American Energy Efficient Motors Market Overview by Efficiency Level
- Rest of South American Energy Efficient Motors Market Overview by Application
- Rest of South American Energy Efficient Motors Market Overview by End-Use Sector
10. Middle East & Africa
- Middle East & Africa Energy Efficient Motors Market Overview by Product Type
- Middle East & Africa Energy Efficient Motors Market Overview by Efficiency Level
- Middle East & Africa Energy Efficient Motors Market Overview by Application
- Middle East & Africa Energy Efficient Motors Market Overview by End-Use Sector
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