Regal Rexnord Corporation (US) and ABB (Switzerland) are leading players in Energy Efficient Motor Market
The global Energy efficient motor market is expected to grow at a CAGR of 7.3% during the forecast period, from an estimated USD 41.7 billion in 2023 to USD 59.3 billion in 2028. Implementation of energy-efficient motors can lower the energy consumption significantly. The operations of devices enabled with energy-efficient motors lead to the lesser production of greenhouse gases. The adoption of these motors in various equipment reduces the operation costs and improves industrial operations in terms of energy efficiency. These factors help reduce the life cycle costs for energy-efficient motors as compared to traditional electric motors, driving their adoption.
Electric motors can be installed in several different ways, depending on the application requirements. Two common installation types for electric motors are open drip proof (ODP) and totally enclosed fan-cooled (TEFC). ODP motors are generally less expensive and can be suitable for applications where the motor needs to be protected from moisture and dust. TEFC motors are more expensive, but they offer greater protection and are better suited for applications where the motor may be exposed to harsh environments, driving their adoption.
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The energy efficient motor market is characterized by the presence a mix of large international players with operational presence across the world and local players commanding a strong supply network in the domestic market. Leading players in the energy efficient motor market include Regal Rexnord Corporation (US), ABB (Switzerland), Siemens (Germany), Wolong Electric Group Co., Ltd (China), and Nidec Corporation (Japan).
Regal Rexnord Corporation is a company that provides energy efficient motors, with efficiency levels ranging from IE1 to IE5 for a wide range of sectors, such as industrial, residential, commercial, and automotive. In recent years, the company has been focusing on expanding its portfolio of energy-efficient motors. The company has been investing in research and development to design and manufacture high-performance motors that meet the energy efficiency standards set by various regulatory bodies around across the world.
ABB is a company that provides a range of International Electrotechnical Commission (IEC) standard motors that are designed to meet the high-performance and efficiency requirements of a wide range of applications. ABB invests heavily in research and development in a bid to continuously improve and innovate its energy-efficient motion control offerings to meet the changing needs of its customers. Its latest launch, M3BP motors, are a series of premium efficiency motors for use in the food and beverage, pulp and paper, and water and wastewater industries.
Related Reports:
Energy Efficient Motor Market by Efficiency Level (IE1, IE2, IE3, IE4, and IE5), Type(AC, DC), Power Output Rating (< 1 kW, 1 - 2.2 kW, 2.2 - 375 kW, and > 375 kW), Application (HVAC, Fans, Pumps, Compressors), End User Region - Global Forecast to 2028
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