Global Energy Efficient Motors Market: Overview
The growing emphasis on the adoption of green technologies is having a prominent impact on the demand for energy efficient motors across the world. The benefits, energy efficient motors offer over standard motors, such as the high-quality lamination, insulation, and low fan losses, are influencing the preferences of consumers towards them.
Apart from this, the enforcement of laws and regulations concerning the environment, such as Environment Protection Act (EP Act), and conservation of nonrenewable energy, such as Minimum Energy Performance Standards (MEPS), is also fueling the demand for these motors substantially across the world.
Global Energy Efficient Motors Market: Trends and Opportunities
On account of the cost benefits provided by energy efficient motors, this market is likely to gain significant impetus in the coming years. However, the high initial cost incurred in the production of these motors may hamper the growth of this market over the next few years.
An uptick in the demand for IE1 (standard), IE2 (high), IE3 (premium), and IE4 (super premium) motors is likely to boost this market remarkably in the years to come. DC motors are likely to witness a steady rise in their demand in the near future.
These motors are anticipated to find a widespread application in HVAC, refrigerators, pumps, fans, compressed air, material handling, and material processing systems.
The industrial, residential, and the commercial building sectors are projected to surface as the key consumers of energy efficient motors across the world. The transportation and the agricultural sectors will also exhibit a high demand for these motors in the coming years.
Global Energy Efficient Motors Market: Geographical Analysis
The global market for energy efficient motors is spread across Asia Pacific, Europe, the Middle East and Africa, North America, and Latin America. With a large pool of companies involved in the assembly and production of energy efficient motors, Europe has emerged as a front runner among all the regional markets. Researchers expect this regional market to maintain its leadership in the near future due to the technological advancements and the increase in research and development activities.
On the other hand, Asia Pacific is likely to offer lucrative opportunities for the growth of this market in the forthcoming years. The ample availability of raw materials and the presence of a skilled workforce at low wages are expected to stimulate the market for energy efficient motors in Asia Pacific over the next few years.
The markets in Latin America and the Middle East and Africa are also projected to witness a significant rise in their overall valuation in the near future. North America, however, is anticipated to experience moderate growth in the years to come due to maturation.
Companies mentioned in the research report
The leading participants operating in the global market for energy efficient motors are Siemens AG, Schneider Electric SE, Regal Beloit Corp., Marathon Electric, Kirloskar Electric Co. Ltd., General Electric, Emerson Electric Co., Bosch Rexroth AG, Baldor Electric Co., and ABB Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.