How Has the Energy Efficient Motor Market Evolved Historically and What is its Current Size?
The energy efficient motor market has seen considerable growth due to a variety of factors.
• The market size for energy-efficient motors has seen significant growth recently. The market is projected to expand from $42.6 billion in 2024 to $46.2 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%.
Factors such as environmental regulations, sustainability initiatives, growing demand for energy-efficient resolutions, rising electricity costs, reduced lifecycle expenses compared to conventional motors, actions to minimize carbon emissions, and forward industrialization contributed to its historical growth.
What Does Future Hold for The Energy Efficient Motor Market By 2029?
The energy efficient motor market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the energy efficient motor market, as substantial growth is anticipated in the ensuing years. The projected size of the market is expected to reach $61.11 billion in 2029, with a compound annual growth rate (CAGR) of 7.2%.
The growth dynamics in the forecast period are linked to an uptick in industrial automation, the urgent need to curtail greenhouse gas emissions, increased consciousness about sustainability and corporate social responsibility, governmental policies promoting the use of energy efficient motors, and the benefits of cost savings as well as return on investment. Key trends forecasted for this period encompass product innovations, strategic alliances, and advancements in technology.
What Are The Primary Growth Drivers In The Energy Efficient Motor Market?
The surge in industrial automation demand is projected to boost the expansion of the energy efficient motor market in the future. Industrial automation utilizes control systems, computers, robots, and information technologies to manage diverse processes and machines in an industry, thereby eliminating human labor. The incorporation of energy-efficient motors into industrial automation not only amplifies the overall system efficiency but also diminishes energy usage. This, in turn, promotes environmentally-friendly operations by optimizing power utilization and limiting waste. For example, the International Federation of Robotics, a professional non-profit organization based in Germany, reported in October 2023 that the sales of professional service robots had hit 158,000 units in 2022, indicating a 48% spike. Consequently, the rise in industrial automation is propelling the progress of the energy-efficient motor market.
What Is The Segmentation Of The Global Energy Efficient Motor Market?
The energy efficient motor market covered in this report is segmented –
1) By Type: Super Premium-IE4, Premium-IE3, High-IE2, Standard-IE1
2) By Application: Pumps, Fans, Compressed Air, Refrigeration, Material Handling, Material Processing
3) By End User: Industrial, Commercial, Residential, Agriculture, Other End Users
Subsegments:
1) By Super Premium-IE4: Synchronous Motors, Asynchronous Motors, Permanent Magnet Motors
2) By Premium-IE3: Induction Motors, Squirrel Cage Motors, Direct Drive Motors
3) By High-IE2: Standard Induction Motors, Wound Rotor Motors, High-Efficiency Squirrel Cage Motors
4) By Standard-IE1: Standard Induction Motors, Open Drip Proof (ODP) Motors, Totally Enclosed Fan Cooled (TEFC) Motors
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What Trends Are Reshaping The Future Of The Energy Efficient Motor Market?
Leading firms in the energy efficient motor market are producing original solutions like gate-driver ICs (Integrated Circuits) to reduce power wastage. A gate-driver IC operates as a power amplifier, transforming a low-power input from a controller IC into a large, high-current drive input for a high-power switch. For example, in February 2023, the TB9083FTG gate-driver IC, specifically geared for use in automobile applications like electric brakes, electric power steering, and shift-by-wire, was introduced by Toshiba Electronic Devices & Storage Corporation, a Japan-based semiconductor technology company. The company's move aligns with the tech sector's dedication to innovation and technological progress. This specific product manages and powers external N-channel power MOSFETs (Metal-Oxide-Semiconductor Field-Effect Transistors) to drive a three-phase brushless DC motor, making it a vital part of the car industry's move towards electric vehicles.
Who Are the Key Players In The Energy Efficient Motor Market?
Major companies operating in the energy efficient motor market are:
• Siemens AG
• General Electric Company
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Honeywell International Inc.
• ABB Ltd.
• Johnson Controls Inc.
• Nidec Corporation
• Emerson Electric Company
• Rockwell Automation Inc.
• Microchip Technology Inc.
• Bosch Rexroth AG
• WEG Equipamentos Eletricos SA
• Wolong Electric Group Co. Ltd.
• Havells India Ltd.
• CG Power and Industrial Solutions Ltd.
• Crompton Greaves Consumer Electricals Limited
• Bharat Bijlee Limited
• Marathon Electric India Pvt. Ltd.
• Elin Electronics Limited
• Toshiba International Corporation Pty Ltd.
• Kirloskar Electric Company Ltd.
• Brook Crompton Greaves Limited
• Integrated Electric Co. Pvt. Ltd.
• Regal Beloit Corporation
• Elektrim Motors
• Shanghai Top Motor Co.Ltd.
• Hoyer Motors
• Baldor Electric Company
What Are The Regional Insights Into The Energy Efficient Motor Market?
North America was the largest region in the energy efficient motor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy efficient motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
