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Energy Efficient Motor Market Forecasts to 2028 - Global Analysis By Product Types (Synchronous Motor, Asynchronous Motor, AC Motor, DC Motor and Other Product Types), Efficiency Level, Application, End User and By Geography
Estimated Year Value (2022)
US $35.2 BN
Projected Year Value (2028)
US $58.8 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Energy Efficient Motor Market is accounted for $35.2 billion in 2022 and is expected to reach $58.8 billion by 2028 growing at a CAGR of 8.9% during the forecast period. Energy-efficient motors are used in a variety of industries, including the agricultural, commercial, residential, and industrial sectors. These motors' higher efficiency and reduced maintenance costs have led to an increase in demand for a variety of applications. This technique has undergone constant innovation to cut down on electricity usage. Energy-efficient applications are being adopted in a variety of applications as environmental awareness increases.
According to the Asian Development Bank (ADB), the region’s share of global energy consumption is expected to increase to 56% by 2035 from 34% in 2010.
Growing need to reduce the greenhouse effect
As energy saving becomes more fashionable, businesses are choosing eco-friendly solutions for their systems and procedures. One of the most important steps in lowering greenhouse gas emissions from fossil fuel-generated electricity is making the switch to energy-efficient alternatives. Furthermore, by consuming less energy, the adoption of energy-efficient motors helps end users save money. The growing need to reduce greenhouse gas emissions is boosting the market growth.
Lack of awareness
Various end consumers are not knowledgeable about energy-efficient motors. End users are not sufficiently informed about the energy savings potential of these motors and the costs associated with excessive energy use. The availability of many types of energy-efficient motors and their advantages may not be well known by consumers and enterprises, which is impeding the market's expansion.
The demand for energy-efficient motors has increased as industrialization continues to grow. The demand for motors that can lower energy consumption and operating costs has grown as more industries are founded and old ones expand. Higher efficiency and less energy loss are features of energy-efficient motors, which over the course of the motor's lifetime results in significant cost savings. Due to this, demand for energy-efficient motors has increased across a number of industries.
High price of energy efficient motors
To assure their effectiveness, energy efficient motors frequently need better materials, more sophisticated production techniques, and further testing and certification. Because of this, producers may incur a greater production cost, which in turn raises the cost to consumers. It's possible that some purchasers are unaware of the advantages of energy-efficient motors. This is the main element impeding the market's expansion.
Significantly more of the decline was caused by lower sales of petroleum and coal products as well as transportation equipment. Sales increased the greatest in the industrial machinery sector, next in the wood products and chemical sectors. Such incidents represented a fall in the use of industrial motors in the sector as oil and gas producing facilities were shut down. Thus, the pandemic's erratic demand and supply sides hindered the expansion of the industrial motors industry.
The pumps segment is expected to be the largest during the forecast period
The pumps segment is estimated to have a lucrative growth, due to its utilization. Induction motors with three phases of alternating current are frequently employed in commercial and industrial settings. The usage of energy-efficient motors in pumps is projected to expand due to rigorous energy efficiency regulations in industrialised nations' focus on smart water and wastewater systems and rising power generation capacity worldwide.
The residential segment is expected to have the highest CAGR during the forecast period
The residential segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the usage of motors in the segment. In factories and other production facilities, motors are frequently used in one way or another. Motors are utilised in virtually all household appliances, including food processors, washing machines, and more. By lowering expenses, switching to energy-efficient motors could therefore result in significant energy and financial savings.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to availability of raw materials and the presence of a skilled workforce at low wages. The demand for energy-efficient motors has increased as a result of some governments implementing minimum energy performance criteria or branding programmes for electric motors. It is made up of various developing countries and needs more energy to develop.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to increase in demand for robotics and automation. The region is using more energy-efficient motors than ever before as a result of rising investments in important industries including transportation, commerce, and industry. The region's nations have been putting an emphasis on energy efficiency through initiatives, collaborations, and programmes.
Key players in the market
Some of the key players profiled in the Energy Efficient Motor Market include Siemens, Schneider Electric, Crompton Greaves, ABB, Kirloskar Electric Company Ltd., Rockwell Automation, Toshiba Corporation, Nidec Motor Corporation, Mitsubishi Electric, Regal Rexnord Corporation, WEG, Integrated Electric Co. Pvt. Ltd., Havells, Shanghai Top Motor Co. Ltd., Elektrim Motors and Hoyer Motors.
In August 2022, ABB announced that it will purchase Siemens low voltage NEMA motor business. With manufacturing operations in Guadalajara, Mexico, this acquisition provides a well-regarded product portfolio, a longstanding North American customer base, and experienced operations, sales, and management team.
In March 2022, Siemens invested in existing and new sites in Texas and California that develop electrical equipment for critical infrastructure systems, including EV charging, data centers, and industrial installations. This investment advances the company's commitment to supporting the next generation of American infrastructure.
Product Types Covered:
• Synchronous Motor
• Asynchronous Motor
• AC Motor
• DC Motor
• Other Product Types
Efficiency Levels Covered:
• IE1 (Standard Efficiency)
• IE2 (High Efficiency)
• IE3 (Premium Efficiency)
• IE4 (Super Premium Efficiency)
• Other Efficiency Levels
• Material Handling
• Material Processing
• Heating, Ventilation, and Air Conditioning (HVAC)
• Other Applications
End Users Covered:
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Energy Efficient Motor Market, By Product Type
5.2 Synchronous Motor
5.3 Asynchronous Motor
5.4 AC Motor
5.5 DC Motor
5.6 Other Product Types
6 Global Energy Efficient Motor Market, By Efficiency Level
6.2 IE1 (Standard Efficiency)
6.3 IE2 (High Efficiency)
6.4 IE3 (Premium Efficiency)
6.5 IE4 (Super Premium Efficiency)
6.6 Other Efficiency Levels
7 Global Energy Efficient Motor Market, By Application
7.4 Material Handling
7.6 Material Processing
7.8 Heating, Ventilation, and Air Conditioning (HVAC)
7.9 Other Applications
8 Global Energy Efficient Motor Market, By End User
8.9 Other End Users
9 Global Energy Efficient Motor Market, By Geography
9.2 North America
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
11 Company Profiling
11.2 Schneider Electric
11.3 Crompton Greaves
11.5 Kirloskar Electric Company Ltd.
11.6 Rockwell Automation
11.7 Toshiba Corporation
11.8 Nidec Motor Corporation
11.9 Mitsubishi Electric
11.10 Regal Rexnord Corporation
11.12 Integrated Electric Co. Pvt. Ltd.
11.14 Shanghai Top Motor Co. Ltd.
11.15 Elektrim Motors
11.16 Hoyer Motors
List of Tables
1 Global Energy Efficient Motor Market Outlook, By Region (2020-2028) ($MN)
2 Global Energy Efficient Motor Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Energy Efficient Motor Market Outlook, By Synchronous Motor (2020-2028) ($MN)
4 Global Energy Efficient Motor Market Outlook, By Asynchronous Motor (2020-2028) ($MN)
5 Global Energy Efficient Motor Market Outlook, By AC Motor (2020-2028) ($MN)
6 Global Energy Efficient Motor Market Outlook, By DC Motor (2020-2028) ($MN)
7 Global Energy Efficient Motor Market Outlook, By Other Product Types (2020-2028) ($MN)
8 Global Energy Efficient Motor Market Outlook, By Efficiency Level (2020-2028) ($MN)
9 Global Energy Efficient Motor Market Outlook, By IE1 (Standard Efficiency) (2020-2028) ($MN)
10 Global Energy Efficient Motor Market Outlook, By IE2 (High Efficiency) (2020-2028) ($MN)
11 Global Energy Efficient Motor Market Outlook, By IE3 (Premium Efficiency) (2020-2028) ($MN)
12 Global Energy Efficient Motor Market Outlook, By IE4 (Super Premium Efficiency) (2020-2028) ($MN)
13 Global Energy Efficient Motor Market Outlook, By Other Efficiency Levels (2020-2028) ($MN)
14 Global Energy Efficient Motor Market Outlook, By Application (2020-2028) ($MN)
15 Global Energy Efficient Motor Market Outlook, By Pumps (2020-2028) ($MN)
16 Global Energy Efficient Motor Market Outlook, By Compressors (2020-2028) ($MN)
17 Global Energy Efficient Motor Market Outlook, By Material Handling (2020-2028) ($MN)
18 Global Energy Efficient Motor Market Outlook, By Fans (2020-2028) ($MN)
19 Global Energy Efficient Motor Market Outlook, By Material Processing (2020-2028) ($MN)
20 Global Energy Efficient Motor Market Outlook, By Refrigeration (2020-2028) ($MN)
21 Global Energy Efficient Motor Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2020-2028) ($MN)
22 Global Energy Efficient Motor Market Outlook, By Other Applications (2020-2028) ($MN)
23 Global Energy Efficient Motor Market Outlook, By End User (2020-2028) ($MN)
24 Global Energy Efficient Motor Market Outlook, By Residential (2020-2028) ($MN)
25 Global Energy Efficient Motor Market Outlook, By Automotive (2020-2028) ($MN)
26 Global Energy Efficient Motor Market Outlook, By Industrial (2020-2028) ($MN)
27 Global Energy Efficient Motor Market Outlook, By Commercial (2020-2028) ($MN)
28 Global Energy Efficient Motor Market Outlook, By Agriculture (2020-2028) ($MN)
29 Global Energy Efficient Motor Market Outlook, By Aerospace (2020-2028) ($MN)
30 Global Energy Efficient Motor Market Outlook, By Transportation (2020-2028) ($MN)
31 Global Energy Efficient Motor Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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