Energy Efficient Motor Market by Efficiency Level (IE1, IE2, IE3, and IE4), Type, Application (HVAC, Fans, Pumps, Compressors, Refrigeration, Material Handling, and Material Processing), Vertical and Geography - Global Forecast to 2023
[137 Pages Report] Driven by the saving on energy and subsequent cost over traditional motors, increasing support from governments worldwide for the adoption of energy efficient motors, rising need to diminish greenhouse effect, and increasing adoption of energy efficient motors in the industrial sector, the energy efficient motor market is likely to witness high growth in the coming years. The market was valued at USD 28.46 Billion in 2017 and is expected to reach USD 41.57 Billion by 2023, at a CAGR of 6.5% between 2018 and 2023. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023. The objective of the report is to provide a detailed analysis of the market based on efficiency level, type, vertical, application, and geography. The report provides detailed information regarding the major factors influencing the growth of the market.
The research methodology used to estimate and forecast the energy efficient motor market begins with obtaining data through secondary research such as newsletters and whitepapers published by key associations (IEA, EEC, and IEEE) and leading players in this market. The bottom-up procedure has been employed to arrive at the overall size of the market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which has been verified through primary research by conducting extensive interviews with officials holding key positions in the industry, such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries has been depicted in the following figure.
To know about the assumptions considered for the study, download the pdf brochure
The players involved in the energy efficient motor market are ABB (Switzerland), Siemens (Germany), WEG (Brazil), GE (US), Schneider Electric (France), Nidec (Japan), Rockwell (US), CG (India), Bosch Rexroth (Germany), Kirloskar Electric (India).
Target audience of the report:
- Raw material providers
- Component manufacturers and distributors
- Motor manufacturers
- Motor suppliers
- Motor distributors
- Analysts and strategic business planners
- Research organizations
- Associations, organizations, and alliances related to energy efficient motors
- Government bodies such as regulating authorities and policymakers
This study answers several questions for the stakeholders, primarily regarding the market segments to focus on in the next 25 years for prioritizing efforts and investments.
Scope of the report:
This research report categorizes the overall energy efficient motor market on the basis of efficiency level, type, vertical, application, and geography.
Energy Efficient Motor Market, by Efficiency Level
- IE4
- IE3
- IE2
- IE1
Energy Efficient Motor Market, by Type
- AC Motors
- DC Motors
Energy Efficient Motor Market, by Application
- HVAC
- Fans
- Pumps
- Compressors
- Refrigeration
- Material Handling
- Material Processing
Energy Efficient Motor Market, by Vertical
- Industrial
- Commercial Building
- Residential
- Automotive
- Aerospace and Defense
- Agriculture
Energy Efficient Motor Market, by Geography
- North America
- Europe
- Asia Pacific (APAC)
- Rest of the World (RoW)
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players on the basis of various blocks of the value chain
Geographic Analysis
- Further breakdown of different regions under geography on the basis of efficiency level
The energy efficient motor market is expected to be valued at USD 41.57 Billion by 2023, growing at a CAGR of 6.5% between 2018 and 2023. The major factors driving the growth of this market include the saving of energy and subsequent cost over traditional motors, increasing support from governments worldwide for the adoption of energy efficient motor, rising need to diminish greenhouse effect, and increasing adoption of energy efficient motors in the industrial sector. Energy efficient motors are used in various application areas in the agriculture vertical; these applications include irrigation, ventilation, grain handling, material handling, aeration, and conditioning. Motors are among the largest energy consuming devices on farms. Motors used in the agriculture sector account for 18% of the on-farm energy consumption worldwide. Also, the energy saving solutions are applicable to all segments of the agriculture sector including dairies and livestock producers, nurseries, crop farmers, and food processing companies. This would further propel the growth of the energy efficient motor market during the forecast period.
This report segments the energy efficient motor market on the basis of efficiency level, type, vertical, application, and geography. The pumps application accounted for the largest share of the market in 2017. Pumps are used in various end-user industries such as water and wastewater, oil and gas, agriculture, and commercial. Further, the pump application is a major shareholder of the market as the pumps are the major consumer of electricity in the industrial sector.
The AC motors accounted for a larger share of the market in 2017. This growth is attributed to the rising concern over carbon emissions and increasing consumption of power, which has encouraged the development of more energy efficient AC motors. The energy efficient motor market for DC motors is expected to grow at a higher CAGR between 2018 and 2023.
On the basis of geography, the energy efficient motor market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). North America accounted for the largest share of the overall market in 2017. However, the market in APAC is expected to grow at the highest CAGR during the forecast period, and it would supersede the North American by 2023. The rising energy prices, which have increased the concern about the efficient use of energy, and several measures taken by the Department of Energy (DOE) from various countries in APAC are encouraging the industries to switch to high-efficiency motors (HEMs) that consume less power, resulting in the growth of the energy efficient motors market in this region.
Currently, there is lack of awareness about energy efficient motors among various end users; however, the situation is expected to change positively in the coming years. Motor purchasers lack sufficient information regarding the potential of these motors to save on energy and cost incurred by the excessive energy consumption. The problems associated with obtaining information arise from the inadequacy of information about the efficiency level of motors and lack of knowledge regarding the energy saving opportunities provided by these motors. Therefore, they are less willing to adopt these motors. There has been a gradual information wave elucidating and educating the end users, which is expected to gain momentum in the coming years, leading to the increased adoption of energy efficient motors.
The key players in this market are ABB (Switzerland), Siemens (Germany), (Brazil), GE (US), Schneider Electric (France), Nidec (Japan), Rockwell (US), CG (India), Bosch Rexroth (Germany), Kirloskar Electric (India).
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Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of Study
1.2 Definition
1.3 Scope of Study
1.3.1 Years Considered for Study
1.4 Currency
1.5 Package Size
1.6 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Limitations
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 28)
4.1 Attractive Opportunities in Overall Energy Efficient Motor Market
4.2 Energy Efficient Motor Market for Industrial Vertical, By Type
4.3 Market in APAC, By Application
4.4 Market, By Region
4.5 Market, By Vertical
4.6 Market, By Country Wise
5 Market Overview (Page No. - 33)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Saving of Energy and Subsequent Cost Over Traditional Motors
5.2.1.2 Increasing Support From Governments Worldwide for the Adoption of Energy Efficient Motor
5.2.1.3 Rising Need to Diminish Greenhouse Effect
5.2.1.4 Increasing Adoption of Energy Efficient Motors in the Industrial Sector
5.2.2 Restraints
5.2.2.1 High Purchasing Price of Super Premium Efficiency (IE4) Motors
5.2.3 Opportunities
5.2.3.1 Emerging Greenfield Projects in Developing Nations
5.2.3.2 Rise in the Use of Energy Efficient Motors in the Agriculture Sector
5.2.4 Challenges
5.2.4.1 Lack of Awareness Among Various End Users
5.2.4.2 Risk & Uncertainty in the Energy Efficient Motor Ecosystem
5.3 Value Chain Analysis
5.4 Types of Losses in Motors
5.5 Comparison Between Standard Motor and Energy Efficient Motor
6 Energy Efficient Motor Market, By Efficiency Level (Page No. - 39)
6.1 Introduction
6.2 IE4 (Super Premium Efficiency)
6.3 IE3 (Premium Efficiency)
6.4 IE2 (High Efficiency)
6.5 IE1 (Standard Efficiency)
7 Energy Efficient Motor Market, By Type (Page No. - 43)
7.1 Introduction
7.2 AC Motors
7.2.1 Induction AC Motors
7.2.2 Synchronous AC Motors
7.3 DC Motors
7.3.1 Brushed DC Motors
7.3.2 Brushless DC Motors
8 Energy Efficient Motor Market, By Application (Page No. - 52)
8.1 Introduction
8.2 Pumps
8.3 Fans
8.4 Compressors
8.5 Refrigeration
8.6 Material Handling
8.7 Material Processing
8.8 HVAC
9 Energy Efficient Motor Market, By Vertical (Page No. - 59)
9.1 Introduction
9.2 Industrial
9.3 Commercial Building
9.4 Residential
9.5 Automotive
9.6 Agriculture
9.7 Aerospace & Defense
10 Energy Efficient Motor Market, By Geography (Page No. - 69)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Rest of Europe
10.4 Asia Pacific (APAC)
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of APAC
10.5 Rest of the World (RoW)
10.5.1 Middle East & Africa
10.5.2 South America
11 Competitive Landscape (Page No. - 91)
11.1 Introduction
11.2 Market Ranking Analysis of Energy Efficient Motor Market Players
11.3 Competitive Situations & Trends
11.3.1 Product Launches & Developments
11.3.2 Agreements, Partnerships, & Collaborations
11.3.3 Acquisitions
11.3.4 Expansions
12 Company Profiles (Page No. - 95)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
12.1 Introduction
12.2 Key Players
12.2.1 ABB
12.2.2 Siemens
12.2.3 Weg
12.2.4 General Electric
12.2.5 Nidec
12.2.6 Schneider Electric
12.2.7 Rockwell
12.2.8 Crompton Greaves
12.2.9 Bosch Rexroth
12.2.10 Kirloskar Electric
12.2.11 Regal Beloit
12.2.12 Havells
12.2.13 Maxon Motor
12.2.14 Brook Crompton
12.2.15 Toshiba
*Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
12.3 Other Important Players
12.3.1 Honeywell
12.3.2 Ec Fans & Drives (An Epec Company)
12.3.3 Ebm-Papst
12.3.4 Johnson Electric
12.3.5 Mitsubishi Electric
13 Appendix (Page No. - 129)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details
List of Tables (72 Tables)
Table 1 Funding Schemes From Different Governments for Energy Efficiency Program
Table 2 Energy Efficient Motor Market, By Efficiency Level, 20152023 (USD Billion)
Table 3 Market, By Efficiency Level, 20152023 (Million Units)
Table 4 Market, By Type, 20152023 (USD Billion)
Table 5 Market, By Type, 20152023 (Million Units)
Table 6 Market for AC Motors, By Motor Type, 20152023 (USD Billion)
Table 7 Market for AC Motors, By Application, 20152023 (USD Billion)
Table 8 Market for AC Motors, By Vertical, 20152023 (USD Billion)
Table 9 Market for AC Motors, By Region, 20152023 (USD Billion)
Table 10 Market for Induction AC Motors, By Region, 20152023 (USD Billion)
Table 11 Market for Synchronous AC Motors, By Region, 20152023 (USD Billion)
Table 12 Market for DC Motors, By Motor Type, 20152023 (USD Billion)
Table 13 Market for DC Motors, By Application, 20152023 (USD Billion)
Table 14 Market for DC Motors, By Vertical, 20152023 (USD Billion)
Table 15 Market for DC Motors, By Region, 20152023 (USD Billion)
Table 16 Market for Brushed DC Motors, By Region, 20152023 (USD Billion)
Table 17 Market for Brushless DC Motors, By Region, 20152023 (USD Billion)
Table 18 Market, By Application, 20152023 (USD Billion)
Table 19 Market, By Application, 20152023 (Million Units)
Table 20 Market for Pumps, By Type, 20152023 (USD Billion)
Table 21 Market for Fans, By Type, 20152023 (USD Billion)
Table 22 Market for Compressors, By Type, 20152023 (USD Billion)
Table 23 Market for Refrigeration, By Type, 20152023 (USD Billion)
Table 24 Market for Material Handling, By Type, 20152023 (USD Billion)
Table 25 Market for Material Processing, By Type, 20152023 (USD Billion)
Table 26 Market for HVAC, By Type, 20152023 (USD Billion)
Table 27 Market, By Vertical, 20152023 (USD Billion)
Table 28 Market, By Vertical, 20152023 (Million Units)
Table 29 Market for Industrial Vertical, By Type, 20152023 (USD Billion)
Table 30 Market for Industrial Vertical, By Region, 20152023 (USD Billion)
Table 31 Market for Commercial Building Vertical, By Type, 20152023 (USD Billion)
Table 32 Market for Commercial Building Vertical, By Region, 20152023 (USD Billion)
Table 33 Market for Residential, By Type, 20152023 (USD Billion)
Table 34 Market for Residential, By Region, 20152023 (USD Billion)
Table 35 Market for Automotive Vertical, By Type, 20152023 (USD Billion)
Table 36 Market for Automotive Vertical, By Region, 20152023 (USD Billion)
Table 37 Market for Agriculture Vertical, By Type, 20152023 (USD Billion)
Table 38 Market for Agriculture, By Region, 20152023 (USD Billion)
Table 39 Market for Aerospace and Defense Vertical, By Type, 20152023 (USD Billion)
Table 40 Market for Aerospace and Defense, By Region, 20152023 (USD Billion)
Table 41 Market, By Region, 20152023 (USD Billion)
Table 42 Market, By Region, 20152023 (Million Units)
Table 43 Market in North America, By Country, 20152023 (USD Billion)
Table 44 Market in North America, By Vertical, 20152023 (USD Billion)
Table 45 Market in North America, By Application, 20152023 (USD Billion)
Table 46 Market in US, By Vertical, 20152023 (USD Million)
Table 47 Market in Canada, By Vertical, 20152023 (USD Million)
Table 48 Market in Mexico, By Vertical, 20152023 (USD Million)
Table 49 Market in Europe, By Country, 20152023 (USD Billion)
Table 50 Market in Europe, By Vertical, 20152023 (USD Billion)
Table 51 Market in Europe, By Application, 20152023 (USD Billion)
Table 52 Market in Germany, By Vertical, 20152023 (USD Million)
Table 53 Market in UK, By Vertical, 20152023 (USD Million)
Table 54 Market in France, By Vertical, 20152023 (USD Million)
Table 55 Market in Rest of Europe, By Vertical, 20152023 (USD Million)
Table 56 Market in APAC, By Country, 20152023 (USD Billion)
Table 57 Market in APAC, By Vertical, 20152023 (USD Billion)
Table 58 Market in APAC, By Application, 20152023 (USD Billion)
Table 59 Market in China, By Vertical, 20152023 (USD Million)
Table 60 Market in Japan, By Vertical, 20152023 (USD Million)
Table 61 Market in India, By Vertical, 20152023 (USD Million)
Table 62 Market in Rest of APAC, By Vertical, 20152023 (USD Million)
Table 63 Market in RoW, By Region, 20152023 (USD Billion)
Table 64 Market in RoW, By Vertical, 20152023 (USD Billion)
Table 65 Market in RoW, By Application, 20152023 (USD Million)
Table 66 Market in Middle East & Africa, By Vertical, 20152023 (USD Million)
Table 67 Market in South America, By Vertical, 20152023 (USD Million)
Table 68 Ranking Analysis of Key Players in Energy Efficient Motor Market, 2016
Table 69 Product Launches and Developments, 20142017
Table 70 Agreements, Partnerships, and Collaborations, 20142017
Table 71 Acquisitions, 20142017
Table 72 Expansions, 20142017
List of Figures (38 Figures)
Figure 1 Markets Covered
Figure 2 Energy Efficient Motor Market: Research Design
Figure 3 Process Flow for Market Size Estimation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions of Research Study
Figure 8 IE2 to Hold Largest Size of Energy Efficient Motor Market During Forecast Period
Figure 9 AC Motors to Hold Larger Size of Energy Efficient Motor Market By 2023
Figure 10 Energy Efficient Motor Market for Automotive Vertical to Grow at Highest CAGR During Forecast Period
Figure 11 Rise in Use of Energy Efficient Motors in Agriculture Sector Expected to Increase Demand for These Motors During 20182023
Figure 12 AC Motors to Hold Larger Size of Energy Efficient Motor Market for Industrial Vertical During Forecast Period
Figure 13 Pumps Application to Held Largest Share of Energy Efficient Motor Market in APAC in 2017
Figure 14 Energy Efficient Motor Market in APAC to Grow at Highest CAGR Between 2018 and 2023
Figure 15 Market for Automotive Vertical to Grow at Highest CAGR Between 2018 and 2023
Figure 16 Market in China to Grow at Highest CAGR During Forecast Period
Figure 17 Saving of Energy and Subsequent Cost Over Traditional Motors are Key Factors Driving the Demand for Energy Efficient Motor
Figure 18 Value Chain Analysis (2017): Major Value is Added During the Manufacturing & Assembly and System Integration Phases
Figure 19 Industrial Vertical: Electricity Sales, 20142016
Figure 20 Commercial Building Vertical: Electricity Sales, 20112016
Figure 21 Residential Vertical: Electricity Sales, 20122016
Figure 22 Market: Geographic Snapshot
Figure 23 Snapshot of Energy Efficient Motor Market in North America
Figure 24 Snapshot of Energy Efficient Motor Market in Europe
Figure 25 Snapshot of Energy Efficient Motor Market in APAC
Figure 26 Companies Adopted Product Launches and Developments as Key Growth Strategy Between 2014 and 2017
Figure 27 Geographic Revenue Mix of Major Companies
Figure 28 ABB: Company Snapshot
Figure 29 Siemens: Company Snapshot
Figure 30 Weg: Company Snapshot
Figure 31 General Electric: Company Snapshot
Figure 32 Nidec: Company Snapshot
Figure 33 Schneider Electric: Company Snapshot
Figure 34 Crompton Greaves: Company Snapshot
Figure 35 Kirloskar Electric : Company Snapshot
Figure 36 Regal Beloit: Company Snapshot
Figure 37 Havells: Company Snapshot
Figure 38 Toshiba: Company Snapshot
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