Global Energy-Efficient Motors Market is Estimated to Reach $82.23 Billion by 2020

Date: 2015-08-31

“Energy-efficient motors are the ones that use less electricity and often last longer than the standard motors, which are of the same size. These motors are preferred over standard motors as using energy more efficiently not only saves money which goes in energy consumption and maintenance, but also helps in curbing carbon emissions. This report has been segregated based on types, products, end-users, applications, and geographic regions. Energy-efficient motors have widely been used in several end-user segments, which include industrial, commercial building, residential, transportation, and agricultural sector. 

The overall market has been divided into five segments, namely types, products, end-users, applications, and geographic regions. Furthermore, motors by types have been classified into several sub-types, which include IE1, IE2, IE3, and IE4.

The global market size is estimated to reach $82.23 billion by 2020, at a CAGR of 11.78% between 2015 and 2020. The market for synchronous motors is expected to grow at a CAGR of 15.32% during the forecast period. This growth is driven by material handling, HVAC, and material processing applications.

Major players in this market include Siemens AG (Germany), ABB Ltd. (Switzerland), Schneider Electric SE (France), Baldor Electric Company (U.S.), and Regal Beloit Corporation (U.S.)

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