Energy Efficient Motor Market to Reach $119.1 Billion Globally by 2032 at 9.5% CAGR: Allied Market Research

A growing adoption of energy-efficient motors in the industrial sector and stringent regulatory standards are anticipated to drive the growth of the global energy efficient motor market during the forecast period. The North America region is projected to hold the majority of the market share by 2032.

PORTLAND, Ore., Nov. 27, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Energy Efficient Motor Market by Type (Super premium-IE4, Premium-IE3, High-IE2, Standard-IE1), by Product Type (AC Motor, DC Motor), by Application (Pumps, Fans, Compressed Air, Refrigeration, Material Handling, Material Processing), by End User (Industrial, Commercial, Residential, Agriculture Sector, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global energy efficient motor market generated $48.5 billion in 2022, and is anticipated to generate $119.1 billion by 2032, witnessing a CAGR of 9.5% from 2023 to 2032.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/537

Prime Determinants of Growth

The growing need to minimize greenhouse gas emissions is driving up demand for energy-efficient technologies, which is anticipated to boost the growth of the global energy efficient motor market in the forecast period from 2023 to 2032. However, the lack of awareness and knowledge among end-users, especially in smaller firms and residential settings, may hamper the energy efficient motor market growth in the coming future. On the contrary, many existing motors in industry are outdated and consume excessive energy; hence, motor retrofitting and replacement are necessary, which is anticipated to offer remunerative opportunities for the expansion of the energy efficient motor market during the forecast period.

Report Coverage & Details:

COVID-19 Scenario

• The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global energy efficient motor market. With social distancing and lockdowns necessitating remote work, the importance of these motors increased.
• The pandemic impacted worldwide supply chains, harming component availability. This pushed enterprises to seek reliable and energy-efficient motor solutions to help prevent manufacturing interruptions and assure a consistent supply of products and services.
• Moreover, the pandemic raised awareness of the importance of sustainability. Governments and companies recognized the significance of lowering carbon emissions and energy use. Energy-efficient motors were critical in reaching these environmental targets, making them a popular choice in a variety of industries.

Type: Super premium-IE4 Sub-Segment Grabs Highest Share in 2022

The super premium-IE4 sub-segment of the global energy efficient motor market accounted for the largest share of 34.1% in 2022 and is projected to continue to hold major share by 2032. The prominent growth of the sub-segment is mainly because developments in motor technology, such as improved materials and design, are making IE4 motors more available and appealing to a broader range of sectors.

Procure Complete Report (300 Pages PDF with Insights, Charts, Tables, and Figures) @
http://www.alliedmarketresearch.com/checkout-final/energy-efficient-motor-market

Product Type: AC Motor Sub-segment Hold Majority of Market Share in 2022

The AC motor sub-segment of the energy efficient motor market accounted for the highest share of 52.4% in 2022 and is expected to experience widespread growth during the forecast period. The prominent growth of the sub-segment is mainly due to a growing awareness of energy efficiency and sustainability. 

Application: Pumps Sub-Segment Grabs Highest Share in 2022

The pumps sub-segment of the global energy efficient motor market accounted for the largest share of 25.6% in 2022 and is anticipated to grab a major share by 2032. The prominent growth of the sub-segment is mainly due to strict law enforcement and environmental regulations. The adoption of energy-efficient motors is being promoted to decrease carbon emissions.

End User: Industrial Sub-segment to Dominate the Market during Forecast Period

The industrial sub-segment of the global energy efficient motor market accounted for the largest share of 37.9% in 2022 and is predicted to grow at the highest CAGR of 10.8% by 2032. The prominent growth of the sub-segment is mainly due to increased environmental consciousness and stringent energy-consumption regulations. Industries have been forced to use energy-efficient motors to reduce carbon footprints and operational expenses.

For Purchase Inquiry: https://www.alliedmarketresearch.com/energy-efficient-motor-market/purchase-options

Region: North America Market Grabs Highest Share in 2022

The energy efficient motor market in the North America region accounted for the highest share of 40.6% in 2022 and is expected to grow significantly during the forecast period. This growth is mainly due to increased investment in the primary verticals like transportation, industrial, and commercial.

Leading Players in the Energy Efficient Motor Market:

• Microchip Technology, Inc.
• Bosch Rexroth
• Schneider Electric SE
• General Electric
• Honeywell International, Inc.
• AG Regal
• Crompton Greaves
• Johnson Controls, Inc.
• Marathon Electric
• ABB Ltd.

The report provides a detailed analysis of the key players of the global energy efficient motor market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Motor Industry:

Industrial Electrification Market: Global Analysis and Industry Forecast, 2023-2032

Motor Soft Starter Market - Opportunities and Forecasts, 2023- 2032

Synchronous Motor Market: Global Opportunity Analysis and Forecast, 2023–2032

Electric Traction Motor Market: Global Analysis and Industry Forecast, 2022–2030

High Speed Motors Market: Global Opportunity Analysis and Industry Growth, 2023-2032

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on | Facebook | LinkedIn | YouTube

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg