According to Future Market Insights (FMI), the global energy-efficient motor market is projected to be valued at USD 59.1 billion in 2024, with an expected rise to USD 151.0 billion by 2034, growing at a CAGR of 9.8% during the forecast period. This growth is primarily driven by rising awareness of environmental sustainability and regulatory mandates that are fueling the demand for energy-saving solutions.
These motors help businesses minimize their carbon footprint, align with sustainability goals, and meet government energy efficiency standards. Advances in motor design, including features like variable frequency drives (VFDs), permanent magnet motors, and advanced control systems, have significantly enhanced motor efficiency, making them more reliable and cost-effective.
Companies are choosing energy-efficient motors for their ability to reduce energy consumption, cut operational costs, and lessen environmental impact. As global awareness of energy conservation and greenhouse gas reduction grows, the popularity of energy-efficient motors continues to rise. For instance, Japan has implemented strict energy efficiency standards and incentives to encourage the adoption of energy-efficient technologies.
Key Takeaways from the Market Study:
- Super premium-IE4 type dominates the market, and its sales are expected to expand at a 9.5% CAGR through 2034.
- AC motor leads the product type category and is anticipated to register a CAGR of 9.3% over the forecast period.
- The energy efficient motor market in the United Kingdom is predicted to rise at an 11.2% CAGR through 2034.
- The energy efficient motor in Japan is projected to inflate at a CAGR of 11.0% through 2034.
- The energy efficient motor in China is anticipated to develop at a CAGR of 10.7% through 2034.
- The energy efficient motor in the United States is estimated to rise at a whopping 10.2% CAGR through 2034.
- The energy efficient motor market in South Korea has the potential to increase at 7.8% CAGR through 2034.
Competitive Landscape:
Companies should prioritize innovation, sustainability, and customer education. To boost market adoption, companies should educate customers about the long-term benefits of energy-efficient motors, such as cost savings and reduced carbon emissions.
By aligning product development efforts with sustainability goals and actively promoting the advantages of energy-efficient motors, companies can drive demand and propel the growth of the energy-efficient motor market.
Key Companies Profiled Operating in the Global Market:
- Johnson Controls Inc.
- General Electric
- Marathon Electric
- Honeywell International Inc.
- Schneider Electric SE
- ABB
- Siemens
- Rockwell
- Crompton Greaves
- Kirloskar Electric Company Ltd.
- Bosch Rexroth AG
- Regal Beloit Corporation
- Nidec Motor Corporation
- WEG
Energy Efficient Motor Market Segmentation Analysis:
By Type:
- Super premium-IE4
- Premium-IE3
- High-IE2
- Standard-IE1
By Product Type:
- AC Motor
- DC Motor
By Application:
- Pumps
- Fans
- Compressed Air
- Refrigeration
- Material Handling
- Material Processing
By End User:
- Industrial
- Commercial
- Residential
- Agriculture Sector
- Others
By Region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
Report Preview: https://www.futuremarketinsights.com/reports/energy-efficient-motor-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube