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Emerging Sub-Segments Transforming the Energy Efficient Motor Market Landscape
Energy Efficient Motor Market
Projected Growth and Size of the Energy Efficient Motor Market by 2030
The market for energy efficient motors is set to expand substantially, reaching a value of $63.26 billion by 2030. This growth is expected to occur at a compound annual growth rate (CAGR) of 6.8%. Several factors are propelling this upward trajectory, including the rising need for sustainable industrial systems, the growing electrification of machinery, and a stronger focus on reducing operational expenses. Additionally, the spread of smart energy management technologies and the increased use of high-efficiency motors in commercial buildings contribute to this market momentum. Trends anticipated to influence the market during the forecast period include a surge in demand for innovative high-efficiency motor designs, wider adoption of advanced magnetic materials, greater integration of variable frequency drives, expansion of energy-saving industrial equipment, and a shift toward replacing outdated motors with more efficient models.
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Leading Companies Driving the Energy Efficient Motor Market
Several key players dominate the energy efficient motor industry, including Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Johnson Controls Inc., Nidec Corporation, Emerson Electric Company, Rockwell Automation Inc., Microchip Technology Inc., Bosch Rexroth AG, WEG Equipamentos Eletricos SA, Wolong Electric Group Co. Ltd., Havells India Ltd., CG Power and Industrial Solutions Ltd., Crompton Greaves Consumer Electricals Limited, Bharat Bijlee Limited, Marathon Electric India Pvt. Ltd., Elin Electronics Limited, Toshiba International Corporation Pty Ltd., Kirloskar Electric Company Ltd., Brook Crompton Greaves Limited, Integrated Electric Co. Pvt. Ltd., Regal Beloit Corporation, Elektrim Motors, Shanghai Top Motor Co. Ltd., Hoyer Motors, and Baldor Electric Company.
A notable development in this space occurred in May 2023 when ABB Ltd., a Swiss technology company specializing in electrification and automation, acquired Siemens AG's low-voltage NEMA motor business. This strategic move is aimed at strengthening ABB's manufacturing capabilities in industrial NEMA motors and enhancing its ability to serve customers more effectively. Siemens AG, based in Germany, is recognized for producing energy-efficient motors, including the high-efficiency Super Premium (IE4) range.
Emerging Innovations and Market Opportunities in Energy Efficient Motors
Innovative advancements play a critical role in the evolution of the energy efficient motor market. Companies are focusing on developing cutting-edge solutions such as gate-driver integrated circuits (ICs) that help reduce power loss. A gate-driver IC essentially acts as a power amplifier, converting low-power input signals into high-current outputs needed to control high-power switches.
For example, in February 2023, Toshiba Electronic Devices & Storage Corporation from Japan introduced the TB9083FTG gate-driver IC, specifically designed for automotive brushless DC motors. This product targets applications such as electric brakes, electric power steering, and shift-by-wire systems. It supports the automotive industry's shift toward electrification by effectively controlling external N-channel power MOSFETs used in three-phase brushless DC motors.
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Energy Efficient Motor Market Segmentation and Leading Shareholders
This market is segmented by type, application, and end user, offering a detailed view of its components.
By Type, the categories include Super Premium-IE4, Premium-IE3, High-IE2, and Standard-IE1 motors.
Applications cover pumps, fans, compressed air systems, refrigeration, material handling, and material processing.
End users are divided among industrial, commercial, residential, agricultural, and other sectors.
Subsegments within types provide further detail:
- Super Premium-IE4 includes synchronous motors, asynchronous motors, and permanent magnet motors.
- Premium-IE3 covers induction motors, squirrel cage motors, and direct drive motors.
- High-IE2 consists of standard induction motors, wound rotor motors, and high-efficiency squirrel cage motors.
- Standard-IE1 features standard induction motors, open drip proof (ODP) motors, and totally enclosed fan cooled (TEFC) motors.
This segmentation reflects the diverse range of motor designs and applications fueling the market's steady growth and adoption worldwide.
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