Energy Efficient Motor Market Size, Share, Trends, And Growth Report 2032

Energy Efficient Motor Market: Size

The global energy efficient motor market size was worth around USD 52.53 billion in 2023 and is predicted to grow to around USD 117.41 billion by 2032 with a compound annual growth rate (CAGR) of roughly 9.47% between 2024 and 2032.

The report covers a forecast and an analysis of the Energy Efficient Motor Market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

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Energy Efficient Motor Market: Overview

An energy-efficient motor is a type of electric motor designed to perform with reduced energy consumption compared to standard motors, while maintaining or improving performance. These motors achieve higher efficiency by incorporating advanced materials, optimized design features, and improved manufacturing techniques that reduce energy losses caused by heat, friction, and electrical resistance. Commonly used in industrial applications, HVAC systems, pumps, and fans, energy-efficient motors help lower electricity costs and contribute to sustainability by reducing greenhouse gas emissions. They comply with efficiency standards such as IE2, IE3, or higher, making them a preferred choice for businesses and industries striving for energy savings and environmental responsibility.

Energy Efficient Motor Market: Growth Factors

Motors that use less electricity are defined as energy-efficient motors. Governments across the globe are imposing stringent regulations that strengthen efficiency services. Tax incentives are also provided by governments to corporations to help them build energy-efficient industrial plants, appropriately measure their power intake, and control energy more intelligently. Moreover, due to the cost-effectiveness of energy-efficient motors, they are more in demand.

These motors also save energy and provide better performance as compared to other traditional motors. These are major factors driving the energy efficient motor market globally. Energy-efficient electric motors are used in air flow, heating, air conditioning, and ventilation (HVAC) solutions, especially for commercial buildings. Thermodynamics, heat transfer, and principles of fluid mechanics are some laws that HVAC works on. Products like refrigerators, pumps, fans, and compressors are equipped with electromagnetic motors. Various governments have initiated support in increasing urbanization and industrialization to develop advanced solutions. However, the rising metallic costs may increase the price of electric motors, which will hamper this market.

The study includes drivers and restraints of the energy efficient motor market along with their impact on the demand over the forecast time period. Additionally, the report includes the study of opportunities available in the energy efficient motor market on a global level.

In order to give the users of this report a comprehensive view of the energy efficient motor market, we have included a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces Model for the energy efficient motor market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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Energy Efficient Motor Market: Segmentation

The global energy efficient motor market is segmented based on efficiency Level, motor type, application, vertical, and region.

The efficiency level segment includes IE1, IE2, IE3, and IE4.

By motor type, the market is bifurcated into DC and AC.

Based on application, the energy efficient motor market is classified into material processing, material handling, refrigeration, compressors, pumps, fans, and HVAC.

The vertical segment comprises agriculture, aerospace and defense, automotive, residential, commercial building, industrial, and others. The industrial segment is expected to grow at a substantial rate in the future. Energy-efficient motors are widely utilized in numerous industrial sectors, such as energy and power, oil and gas, marine, mining, water and wastewater, for optimum energy consumption, thereby consequently decreasing the operational costs. Moreover, the agriculture sector contributes notably to the global energy efficient motor market. Currently, the agricultural zone is witnessing a decreasing price trend for pumps and motors. Various rules and regulations and subsidy schemes are implemented by governments to promote the use of efficient and effective pumps and motors, which are likely to boost the agriculture segment in the future.

Energy Efficient Motor Market: Report Scope

Energy Efficient Motor Market: Regional Analysis

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further classification of the U.S., Canada, Mexico, UK, France, Germany, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Argentina, UAE, Saudi Arabia, and South Africa.

By region, North America is anticipated to hold a considerable share of the global energy efficient motor market, owing to the presence of major players of automotive industry like Ford, Daimler Chrysler, etc. in the region. This is expected to contribute to the region’s electric efficient motor market. Moreover, the contributions of developed economies like Canada and the U.S. are expected to further boost this regional market.

Energy Efficient Motor Market: Key Players Analysis

Major players in the global energy efficient motor market are:

• Bosch Rexroth
• Microchip Technology
• Johnson Controls
• ABB
• Regal Beloit Corporation
• General Electric
• Honeywell International
• Baldor Electric
• Siemens
• Emerson Electric
• Kirloskar Electric
• Magnetek
• Crompton Greaves
• Marathon Electric
• Schneider Electric

This report segments the global energy efficient motor market into:

Global Energy Efficient Motor Market: Efficiency Level Analysis

• IE1
• IE2
• IE3
• IE4

Global Energy Efficient Motor Market: Motor Type Analysis

• AC
• DC

Global Energy Efficient Motor Market: Application Analysis

• HVAC
• Fans
• Pumps
• Compressors
• Refrigeration
• Material Handling
• Material Processing

Global Energy Efficient Motor Market: Vertical Analysis

• Industrial
• Commercial Building
• Residential
• Automotive
• Aerospace and Defense
• Agriculture
• Others

Global Energy Efficient Motor Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa