The global energy efficient motors market is suggested to have reached a value of around $31.8 billion in 2012. Recent forecasts suggest that the industry will reach a total of almost $91.5 billion by the year 2018, meaning a CAGR growth of 19.6% between 2013 and 2018. The major driving factors influencing the global energy efficient motors market are energy cost savings, increasing government funding for the energy efficient solutions and increasing demand for greenhouse gas reduction. Some of the major restraints in the market are high purchasing price and lack of information.
The growing use of electric motors and automation has resulted in the greater demand for energy efficient electric motors. The more energy consuming large sized industrial motors and increasingly usage of small motors in portable devices has given a renewed pushed the demand for the energy efficient motors. Certain parameters like winding, quality of laminations and others that differentiate an ordinary motor from an energy efficient motor have been discussed in-depth in the report with an economic and impact analysis.
Rapid growth of the Energy Efficient Motor market is expected to bring forth opportunities as well as challenges for the key players in the market. All the major Energy Efficient Motor manufacturers are concentrating on future applicability of these products and deploying various strategies to cut costs through the increase in durability, reliability, decrease the size and compete with other energy savings substitute products.
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