The Energy Efficient Motor market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025. The Global Energy Efficient Motor Market accounted for USD 29.75 billion in 2017 and is projected to grow at a CAGR of 6.9% the forecast period of 2018 to 2025.
Competitive Analysis: Global Energy Efficient Motor Market
The global energy efficient motor market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of energy efficient motor market for global, Europe, North America, Asia Pacific and South America.
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Key Players: Global Energy Efficient Motor Market
The key players in the global energy efficient motor market are Bosch Rexroth, AG Regal, Beloit Corporation, General Electric Microchip Technology, Inc., Johnson Controls Inc., ABB Ltd., Crompton Greaves, Marathon Electric, Schneider Electric SE, Honeywell International, Inc., Baldor Electric Company, Siemens AG, Emerson Electric Company, Kirloskar Electric Company Ltd., Magneteck, Inc.
Market Definition: Global Energy Efficient Motor Market
Motors are generally utilized as a part of different divisions where mechanical energy is required. It is an electromechanical device which converts over electrical energy into rotary mechanical energy. This yield is then additionally changed over to give the required final use-energy. The two principle segments of engine are the stator (stationary component) and the rotor (rotating component). Motors are the most important driving components of industrial and consumer products. Motor system applications bring the convenience of automation to humanity. However, a large amount of energy is being consumed worldwide due to a significant increase in the use of related appliances.
Energy efficient motors are high effectiveness engines that give comparative quality by expending lesser measures of energy. These engines are utilized for wide mechanical applications like paper, concrete, materials, cranes, material taking care of, machine devices and blowers and so forth. It has numerous advantages like decrease in vitality utilization, run cooler and have longer life. Its forthright cost might be higher however consequences of enhancing energy effectiveness can reimburse the speculation rapidly. According UNIDO (United Nations Industrial Development Organization), electric motor systems account for about 60 to 70% of industrial electricity consumption depending on the industrial structure. There has been extensive usage of electric motors not only in the industry sectors but also in the commercial, residential, agricultural and transportation sectors.
Market Drivers and Restraints:
- Cost effectiveness- 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-environmental sustainability.
- Product portability.
- High initial cost.
Market Segmentation: Global Energy Efficient Motor Market
- The global energy efficient motor market is based on efficiency level, type, application, vertical and geographical segments.
- Based on energy efficiency level, the global energy efficient motor market is segmented into IE1, IE2, IE3 and IE4.
- Based on type, the global energy efficient motor market is segmented into AC Motors and DC Motors.
- Based on application, the global energy efficient motor market is segmented into HVAC, fans, pumps, compressors, refrigeration, material handling and material processing.
- Based on vertical, the global energy efficient motor market is segmented into industrial, commercial building, residential, automotive, agriculture, aerospace and defense.
- Based on geography, the global energy efficient motor report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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