Dublin, April 09, 2024 (GLOBE NEWSWIRE) -- The "Energy Efficient Motors - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Energy Efficient Motors Market to Reach $65.5 Billion by 2030
The global market for Energy Efficient Motors estimated at US$40.6 Billion in the year 2023, is projected to reach a revised size of US$65.5 Billion by 2030, growing at a CAGR of 6.2% over the analysis period 2023-2030.
The increasing global focus on sustainability and energy efficiency has paved the way for the rise of energy-efficient motors, which play a crucial role in reducing energy consumption across various sectors. As concerns over climate change escalate, there has been a concerted effort to curb CO2 emissions, as evidenced by the global emissions data spanning several decades. The growing investment in energy efficiency initiatives has directly contributed to the demand for energy-efficient motors, with significant spending observed across buildings, transportation, and industrial sectors.
Amidst the evolving economic landscape, the competition in the energy-efficient motors market is fierce, with key players vying for market share. Understanding the competitive dynamics and market presence of these players is essential for gauging the industry's trajectory in 2023. Recent market activity reflects ongoing innovations and developments aimed at enhancing the efficiency and performance of energy-efficient motors to meet the evolving needs of customers.
Energy-efficient motors come in various types, each tailored to specific applications and industries. The market outlook for energy-efficient motors is optimistic, driven by the increasing adoption of sustainable practices and regulations promoting energy efficiency. As industries and consumers alike prioritize environmental responsibility, the demand for energy-efficient motors is expected to remain robust in the coming years, signaling a promising future for the market.
Above 375 kW Motors, one of the segments analyzed in the report, is projected to record 7.2% CAGR and reach US$27.8 Billion by the end of the analysis period. Growth in the 2.2 - 375 Kw Motors segment is estimated at 6.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $11.3 Billion, While China is Forecast to Grow at 8.1% CAGR
The Energy Efficient Motors market in the U.S. is estimated at US$11.3 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$13.2 Billion by the year 2030 trailing a CAGR of 8.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 5.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.
Exciting New Report Features
- Full access to influencer engagement stats
- Complimentary report updates for one year
- Competitor coverage with global market shares of major players
- Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
- Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 512 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $40.6 Billion |
| Forecasted Market Value (USD) by 2030 | $65.5 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
MARKET OVERVIEW
- Growing Focus on Sustainability & the Ensuing Emphasis Shed on Energy Efficiency Provides the Foundation for the Rise of Energy Efficient Motors
- Global Movement Towards Sustainability Makes Strong Progress as Suffocating Spike in Emissions Shifts Focus on Securing a Safer Future for the World: Global CO2 Emissions (In Billion Metric Tons) for Years 1930, 1940, 1950, 1960, 1970, 1980, 1990, 2000, 2010, 2020, 2021, 2022 & 2023
- Spending on Energy Efficiency Directly Benefits Demand for Energy Efficient Motors Across the Buildings, Transport, & Industry Sectors: Global Investments in Energy Efficiency (In US$ Billion) For Years 2015, 2017, 2019, 2021 and 2023
- Global Economic Update
- Competition
- Energy Efficient Motors - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Energy Efficient Motors: Overview, Types & Market Outlook
- Recent Market Activity
- Innovations
MARKET TRENDS & DRIVERS
- Growing Importance of Energy Efficiency Technologies & Redoubled Focus on Accelerating Their Adoption, Paves Way for an Era of Strong Growth for Energy Efficient Motors
- Redoubled Focus on Achieving Energy Efficiency to Stem the Slowdown Witnessed in 2018 Through 2020, Spurs Increased Investments in Energy Efficient Motors: Globally Achieved Energy Efficiency Rates (In %) for the Years 2000, 2010, 2015, 2016, 2017, 2018, 2019, 2020 and 2022
- Healthy Demand Outlook for Electric Motors Bodes Well for the Rise of Energy Efficient Variants
- Stringent Energy Efficiency Legislations and Development of Standards & Programs Provide Stability to Market Growth & Drive Motor Design Innovations
- Permanent Magnet Motors Rise in Popularity for Their Energy Efficiency Benefits
- As Automation Becomes Ubiquitous in Industries, Processes and Factories, Demand Rises for Energy Efficient Industrial Motors
- Increased Spending on Industrial Automation Spurs Need for Energy Efficient Industrial Motors: Global Industrial Automation Market (in US$ Billion) for the Years 2019, 2022, 2024 and 2026
- IE4 Motors to Witness Robust Demand
- Artificial Intelligence (AI) Steps In to Make Electric Motors More Efficient & Energy Wise
- IoT & Big Data Play Key Roles in Pushing Up Motor Energy Efficiency
- Innovations Continue To Remain Critical For Sustained Growth
FOCUS ON SELECT PLAYERS(Total 76 Featured)
- ABB Ltd.
- Bosch Rexroth AG
- General Electric Company
- Honeywell International, Inc.
- Johnson Controls Inc.
- Kirlosakar Electric Company
- Microchip Technology, Inc.
- Nidec Motor Corporation
- Regal Rexnord Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Simens AG
- Weg S.A
For more information about this report visit https://www.researchandmarkets.com/r/f8dbx2
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