New York, March 31, 2023 (GLOBE NEWSWIRE) -- In 2022, the market for energy-efficient low horsepower AC motors was valued at US$ 67.8 billion. From 2022 to 2032, it is projected to expand at a CAGR of 8.1%. In 2032, the Energy Efficient Low Horsepower AC Motors Market is expected to achieve a valuation of US$ 147.6 billion.
There is a growing emphasis on lowering energy use and carbon emissions as people throughout the world become more ecologically concerned. Reduced energy consumption from energy-efficient motors lowers the overall carbon footprint of the machinery they power.
Low operating expenses are the result of energy-efficient motors' design to consume less energy than conventional motors. For sectors with high energy demand such as manufacturing and agriculture, where the price of electricity can be a substantial expense, it is especially crucial.
Numerous governments are putting laws into place all around the world to promote adoption of energy-efficient motors. For instance, the Ecodesign Directive has been put into practice by the European Union (EU). It establishes requirements for numerous equipment types, including motors, in terms of energy efficiency.
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It is nowadays possible to create extremely efficient motors that consume less energy without compromising performance thanks to developments in motor design and technology. It has also elevated energy-efficient motors to a very desirable alternative for a variety of applications.
Energy-efficient motors frequently have superior designs and higher-quality construction than regular motors, which can lead to a longer lifespan. By reducing the need for maintenance and replacement, it can save expenses even more.
In comparison to normal motors, energy-efficient motors are frequently made to perform better. They might be able to provide more torque, greater speed control, and enhanced accuracy, which could boost corporate productivity and efficiency.
It is possible to lessen carbon emissions and other pollutants linked to energy generation by using energy-efficient motors. It can assist in enhancing air quality and minimizing an operation's overall environmental impact.
Key Takeaways from Energy Efficient Low Horsepower AC Motors Market Study:
- The global energy efficient low horsepower AC motors market exhibited a CAGR of about 11.3% in the historical period.
- The USA energy efficient low horsepower AC motors market is expected to be worth US$ 46.3 billion by 2032.
- The United Kingdom energy efficient low horsepower AC motors market exhibited growth at a CAGR of 10.1% from 2017 to 2021.
- China energy efficient low horsepower AC motors market is expected to be worth US$ 12.6 billion by 2032.
- By type, synchronous motors are projected to escalate at a CAGR of 8.0% from 2022 to 2032.
“These motors' high dependability and long component lifespan would be the result of improved manufacturing techniques and superior materials employed in their construction. It might lead to high service elements, a reduction in waste heat output, and vibration reduction. They increase efficiency by lowering losses, which account for only 3 to 6% of the electricity going through the motor.” – Says a lead analyst.
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Competitive Landscape: Energy Efficient Low Horsepower AC Motors Market
Offering competitive price is one of the most successful methods low horsepower AC motor producers employ. Manufacturers can expand sales by attracting more customers and maintaining relatively low prices.
Customer interest in goods that can reduce their electricity costs and save them money is rising. Manufacturers of low-horsepower AC motors can boost sales by providing energy-efficient motors that consume less energy and are better for the environment.
For instance,
- In June 2018, ABB Ltd announced that it had acquired GE Industrial Solutions. This acquisition would help expand the former’s product portfolio. It would also allow the firm to broaden its presence in the North America market.
Get More Exclusive Insights into Energy Efficient Low Horsepower AC Motors Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the energy efficient low horsepower AC motors market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2023 to 2032.
The study reveals extensive growth in the energy efficient low horsepower AC motors in terms of type (synchronous motors, asynchronous motors), application (consumer applications, industrial applications, refrigeration, medical), and regions.
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