(PRWEB) March 04, 2013
According to a new market research report of "Energy Efficient Motors Market (2013–2018): By Product (Synchronous (Reluctance, Permanent Magnet), Asynchronous (Squirrel Cage, Wound Rotor), DC Motor (Brushless, Brushed)); Type (IE3, IE2, IE1, NEMA); Application (Fans, Pump, HVAC, Compressed Air)" published by MarketsandMarkets is expected to grow at a CAGR of 19.67% from 2013 to 2018 and reach $91.46 billion in 2018.
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The increasing power consumption and CO2 emissions are some of the major challenges for the manufacturers of the electric motors. To overcome the above-mentioned challenges, different standards and regulations are launched by the governments of different countries like U.S., France, China, Japan, and also by different associations like NEMA, IEA (International Energy Association), and others.
Energy-efficient motors are manufactured as per all the energy saving standards.The operating cost of the energy-efficient motors is much lesser compared to the standard motors due to the low energy cost and minimum CO2 emission. The demand for energy efficient motors is continuously increasing and replacing the standard motors in different sectors. The report covers all the major energy efficient standards, product types, applications and end users of the energy efficient motors.
Different end users are using different applications of energy efficient motors. The report covers the major end users like industrial, commercial buildings, residential, transportation and aerospace & defense. The end users market is thus further segmented on the basis of different energy efficient product types, applications and geographical regions. Energy efficient motors are penetrating in the overall motors market. The penetration rates of the energy efficient motors along with the total available market for each application are discussed in the report.
Geographical split for every application, product types and end user is included in the report as the market share of different applications of energy efficient motors varies from one region to another. Aerospace & defense, residential and agriculture sectors are expected to hit in the energy efficient motors market in the coming five years.
This report describes the overall market into five major geographical segments, namely, North America, Europe, Asia Pacific(excluding China), China, and ROW.
North America is the market leader in the overall energy efficient motors market; followed by Asia Pacific and Europe. In ROW, Middle East, and Africa are the largest contributors. The major reasons behind the growing market for the Energy Efficient Motors are the increasing problems of energy consumption, demand of efficient systems and reducing emission.North America is the major region to have dominated the Energy Efficient Motors market. Asia Pacific is expected to be the fastest growing region in the overall market of energy efficient motor. Energy Efficient Induction motors is expected to boost the growth of the energy efficient motors market.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
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