Growing Emphasis on Energy Conservation Drives Adoption of Energy Efficient Electric Motors, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) July 31, 2013 -- Follow us on LinkedIn – Electric motors, which convert electrical energy into mechanical energy, are widely used in industrial fans, blowers, pumps, machine tools, household appliances, power tools and disk drives. The omnipresence of electrically run equipment also makes electric motors an indispensable ubiquitous product. Fractional horsepower (FHP) motors are widely used in all household appliances ranging from refrigerators to vacuum cleaners, washing machines to coffee machines, while in the industrial environment almost all systems in a plant are driven by integral horse power (IHP) electric motors. Rapid economic growth over the years has led to an increase in the construction of industrial plants, power plants, and manufacturing facilities across the globe. The combination of these projects has resulted in significant increase in demand for equipment and devices such as boilers, and rotating equipment, which in turn utilize electric motors.
A key trend in the making is the rise of energy efficient motors. Escalating power prices and dwindling fuel supply have long been prime driving forces behind the keen interest and demand spurt in energy efficient motors. Electric motor systems account for over 65% of industrial energy consumed. Effective and powerful electric motor systems therefore pave the way for significant energy savings. The extent of energy saving benefit offered can be put into perspective by the fact that energy conservation from energy efficient motors can lead to significant savings of billions of Kilowatt-hours of electric energy annually, in the US alone. Government directives and regulations are additionally compelling motor manufacturers to offer superior products with energy efficiency features. Over the years, standards for gauging the energy efficiency of low voltage motors have evolved through IE1 (standard), IE2 (high) and IE3 (premium). Globally, the United States and Canada lead the Premium Efficiency motor (IE3) market, given the head start gained by these countries in terms of implementation of IE3 premium efficiency standards. On cards is the development of super-efficient motors IE4. As the market adjusts to new efficiency levels, high-efficiency motors are poised to gain.
Premium efficiency motors are gaining over standard motors supported by numerous benefits, such as, lower energy consumption, longer operating life, lower maintenance expenditure, extended winding life, higher tolerance for voltage rate fluctuations, reduce heat and vibration generation, among others. Lower energy consumption is an ace advantage of these motors, given that energy accounts for over 90% of an electric motor’s lifecycle cost. Although expensive than conventional electric motors, the long-term eco-benefits offered tend to outweigh the initial upfront cost of these motors. The need to replace oversized and/or under loaded motors, primarily due to the implementation of efficiency legislations will continue to generate demand for high efficiency motors.
Also forecast to witness strong growth are Brushless DC Motors. With benefits such as better torque-to-weight ratios, less electrical noise, compactness, higher operating speeds and less maintenance, brushless DC motors are gaining strong market acceptance. Apart from cost savings, this motor technology also offers advantages of lower motor weight and size; elimination of issues commonly associated with mechanical alignment; reduction in the number of electrical connections; and enhanced improvement in overall system reliability. The automotive industry is expected to generate robust demand for brushless DC motors with applications expanding to use in windscreen wiper systems and electric windows, among others. These motors remain the popular choice among light vehicle manufacturers supported by features that aid the development of quieter and fuel efficient cars. Electric vehicles will be another area that will offer significant opportunities, as these motors are expected to gain preference due to their higher efficiency at converting electricity into mechanical power.
As stated by the new market research report on Electric Motors, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a projected CAGR of 9.8% over the analysis period. Growth in the region is led by strong economic growth, rapid industrialization, expansion in manufacturing bases, and the growing emphasis on energy efficiency.
Major players covered in the report include ABB Ltd., ACTOM (Pty) Ltd., Allied Motion Technologies Inc., Ametek Inc., Bauer Gear Motor, Danaher Motion, General Electric Company, Hyosung, Johnson Electric, Minebea Co. Ltd., Mitsumi Electric Co., Nidec Corporation and Regal-Beloit Corporation, among others.
The research report titled “Electric Motors: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, company profiles, product launches and other strategic industry activities. The report provides market estimates and projections in US$ Million for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analyzed in the report include Fractional HP Motors and Integral HP (AC Motors and DC Motors).
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Electric_Motors_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###
Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, 408-528-9966, [email protected]
Share this article