The Energy Efficient Motors Market deals with developing Energy efficiency measurements and making them more attainable. As the world transitions to clean energy and energy saving tips, efficiency can make the transition cheaper, faster, and more beneficial across all sectors of our economies.
The Energy Efficient Motors Market gains strong focus and despite lower energy prices, progress is being made. Ie1 motors and Ie2 motors are being utilized in multiple fields such as agricultural, residential, commercial building, and industrial sectors among others to save on energy. This higher motor efficiency coupled with low maintenance costs has resulted in increase in demand in various applications. This has directly increased electric motor sales and its applications in pumps, HVAC, material processing, and material handling among others.
The Energy Efficient Motors Market is driven by the growing global activity in the electric vehicle industry. The key growth factors including lower power consumption and low maintenance. The challenges including higher cost and the fact that electric motor efficiency is far from fulfilling its potential. The key opportunities for the market are being generated through the industrial sector and global adoption of international standard during the forecast period.
The Energy Efficient Motors Market is expected to grow exponentially in the upcoming future. Government regulations offer additional incentives for manufacturers to follow standards like Environment protection Act and Minimum Energy Performance Standards in motor production. Government’s backing for IE3 efficiency is also seen as the missing link that will help market to overcome its inertia. Growing awareness about environment is also driving the adoption of green energy. Also the acceptance of ie3 motors is now very encouraging.
Currently Europe is dominating Energy Efficient Motors Market followed by Asia-Pacific, North-America, and Rest of the World. For the first time in Asia-Pacific, pump manufacturing pioneer Grundfos has launched one of the world’s most efficient motors. These Ie5 motors will enable Grundfos pumps to reach 10% in energy savings and 25% in payback time.
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