Energy Efficient Motors Market to Reach $91.46 Billion By 2018 at a CAGR of 19.67% - New Report by MarketsandMarkets

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[330 Pages Report] Energy Efficient Motors Market report segmented global market by Type Premium, Product (Synchronous (Permanent Magnet, Reluctance), Asynchronous (Squirrel Cage, Wound Rotor) and DC Motor (Brushless, Brushed) & Application forecasting 2013-18.

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Major companies in the Energy Efficient Motors Market ABB Ltd. (Switzerland), Baldor Electric Company Inc. (U.S.), Crompton Greaves (India), Emerson Electric Co. (U.S.), General Electric (U.S.), Honeywell International, Inc. (U.S.) and other.

Copper has witnessed the downward path in prices in commodity market in 2013. As on May 13 2013, the price of three-months Copper was $7,415 per metric ton, significantly lower than the last year’s price which was around $8,500 per metric ton.

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Copper is the vital raw material for premium efficiency electric motors and the decrease in copper prices implies only good things for the manufacturers of premium energy efficient electric motors. In short run, the decrease in raw material prices will lead to either increase in profitability of manufacturers or increase in their market share. Lower raw material costs in form of lower Copper prices will lead to higher margins and hence, increased profitability if the prices of finished goods are kept unchanged. But increase in market share will depend on lowering of prices of electric motors and passing on the benefits of reduced raw material cost to buyers.

Though the discounted prices will keep margins unchanged, it will lead to clearing up of the inventory of finished products via increased demand.

In terms of Market for Energy Efficient Motors, North American and APAC markets have better prospects compared to Europe and rest of the world. The reasons for better prospects of North America and Asia Pacific region are given below.

(1)    North American economy has recorded a GDP growth of greater than 2% in the first quarter of 2013 which is higher than the previous year. This high GDP growth rate will push the industrial production and hence, demand for electric motors.
(2)    USA and Canada implemented the “mandatory” Minimum Energy Performance Standards (MEPS) for industrial electrical motors in 2010. These standards make it obligatory that Industrial electrical motors have to be of IE3 Premium Efficiency levels.
(3)    China, along with other countries in APAC region has slowed down compared to the previous year. But China still grew at a rate of 7.7 % in 2012 which is the highest in Asia. High efficiency IE2 class motors is already mandatory in Asian countries of China and South Korea and will be in 2013 for Taiwan.
(4)    The large manufacturing base of APAC region and its search for efficiency in production costs can lead to a large amount of purchase of energy efficient electric motors. In addition, reduction of Industrial carbon footprint is also the agenda items of APAC governments.
(5)    China especially has additional advantage in APAC region in terms of electric motor certifications. China is well positioned to test and certify motor efficiency as out of only a handful of accredited labs worldwide, one is in Nanyang, Henan province and two are in Shanghai.

For the buyers of electric motors, it is the right time to invest in energy efficient motors and to ask for a discount on purchases since prices are down in international commodity market of industrial raw materials. The current investment will prove to be strategically beneficial in the long run in the form of reduced operating costs and savings in electricity bill. This will ultimately reduce the carbon footprint of Buyer Company or Industry and will also help in the generation of carbon credits.

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