Energy efficient motors function just like standard motors but their different construction technique makes them much more energy efficient. These motors are able to consume less energy per work unit due to improved material and the better design used for their construction. Higher efficiency of these motors has always attracted end-users, as they have great engineering capabilities and applications and low maintenance cost. Energy efficient motors have wide applications in fans, blowers and pumps, vehicles, and more. These motors also have demand in commercial and residential buildings, aerospace and defense. Some types of motors that are available are permanent magnet synchronous motor, DC (brushed and brushless) motors, stepper motor, switched reluctance motor and induction motor.
One of the major drivers for this market is the benefits it offers over the standard motors market. Various parameters like winding, insulation, low fan losses and quality of laminations make energy efficient motors more preferable than a standard motor. Moreover, regulations passed by governments and agencies of different countries are additional incentives for manufacturers to follow standards like Minimum Energy Performance Standards (MEPS) and Environment Protection Act (EP Act) in motor production. Growing awareness of environmental protection drives a healthy growth for energy efficient motors in the future as these motors have minimum CO2 emissions and low energy cost.
Energy efficient motors involve high initial financial investment but due to their high efficiency and energy saving qualities, they are in fact much more economical in the long run. Energy efficient motor manufacturers are working on decreasing the cost of the motor to compete with its substitutes like standard motors in the market.
Companies like Siemens A.G., Baldor Electric Company, ABB Ltd., General Electric Company, Regal Beloit Corporation, Crompton Greaves Ltd., and Emerson Electric Company are some of the key players in the market.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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