Global Energy Efficient Low Horsepower AC Motor Market - 2022-2029

Global Energy Efficient Low Horsepower AC Motor Market - 2022-2029
Market Overview

Energy Efficient Low Horsepower AC Motor Market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 10.30% during the forecast period (2022-2029).

The energy-efficient motor consumes less energy, operates cooler and lasts longer than standard motors. The motor has more copper windings than a regular motor and is 2-6 percent more efficient. It produces less noise and vibration and operates at a lower temperature, extending the motor's life and lowering maintenance costs. It can be used in various industries, including paper, cement, textiles, machine tools and blowers.

The motors have enhanced production procedures and superior materials, resulting in longer bearing lives, higher service factors, lower waste heat output, less vibration and increased reliability. They improve efficiency by lowering losses, which account for only 3-6 percent of the energy flowing through the motor.

Market Dynamics

The market for energy-efficient low horsepower AC motors is expected to grow rapidly, driven by the rising need to lower the greenhouse effect and growing government support for adopting energy-efficient motors around the world. However, the high costs of purchasing may hamper the market growth.

The expanding requirement for energy-efficient motors

The rising need for energy-efficient motors is driving the market for energy-efficient motors. Energy-efficient motors may do more work with the same amount of electricity consumed because of advancements in design, materials and manufacturing methods. Additionally, energy-efficient motors provide advantages. Energy-efficient motors often have greater service factors, longer insulation and bearing lives, reduced waste heat output and less vibration, all of which boost reliability. It is because they are built using improved manufacturing procedures and superior materials. The majority of motor producers extend the warranties on their most effective models.

The considerations drive industrial end-users to move from traditional motors to more energy-efficient motors. It would allow governments to maintain natural energy supplies while dramatically reducing greenhouse gas and hazardous emissions. Furthermore, by reducing energy consumption, energy-efficient motors save money for end-users. During the forecast period, the tendency to shift to more energy-efficient motors is expected to continue.

The increasing government rules for energy efficiency

Rising energy costs and different government initiatives promoting the benefits of adopting energy-efficient motors are likely to drive demand for energy-efficient low horsepower AC motors used in low-power applications. Over the years, various standards for manufacturers to build more energy-efficient motors have been ratified. Energy-efficient motors are made with higher-quality raw materials and modern technology that meet energy-efficiency criteria.

Furthermore, governments' favorable regulations and incentives to support energy-saving goods have spurred OEMs to seize emerging chances. Maintenance, operation and energy expenses of energy-efficient low horsepower AC motors contribute considerably to life cycle costs, resulting in increased demand for improved energy-saving solutions from end consumers.

High cost of purchase

Energy-efficient motors have greater startup or purchase pricing than conventional motors. A wide range of ratings are available for energy-efficient motors and the maximum loading efficiencies are 3 to 7% higher. To make replacement simple, the mounting dimensions are also preserved. Energy-efficient motors cost more than ordinary motors because of the modifications made to increase performance.

Additionally, low horsepower motors with energy-efficient designs are typically not accessible. Additionally, there are still a lot of specialized applications where energy-efficient motors are not yet accessible, such as for very low-speed applications or flame-proof operation in fire pumps or oil-field pumps.

COVID-19 Impact Analysis

Millions of people have become infected by the COVID-19 pandemic, which has spread at an alarming rate and virtually halted economic activity due to countries' harsh travel restrictions designed to stop the virus' spread. Furthermore, government laws maintaining social distance inhibited travel, tourism and other activities globally.

As a result, demand for new electric motors was restricted and sales declined. Moreover, businesses are becoming more involved in government-led energy management programs. Businesses benefit immediately from decreased costs, reduced exposure to energy price swings and enhanced competitiveness by engaging in such initiatives and contributing to national energy and carbon savings. There will be a significant potential for the energy-efficient low horsepower AC motor market to grow.

Segment Analysis

By application, the energy-efficient low horsepower AC motor market is segmented into consumer applications, industrial, medical, refrigeration and others.

Increasing consumer goods demand

Electric motor efficiency may be increased to conserve energy, save operating costs and boost productivity. Numerous industries employ low horsepower motors in pumps, compressors and robotics. There is a huge scope of energy savings when using energy-efficient motors. Demand for consumer goods like air conditioners and washing machines has surged, which has propelled the market for energy-efficient AC motors.

Geographical Analysis

A strong agriculture and manufacturing sector in Asia-Pacific

Because of developments in agriculture and massive investments in industrialization in nations like China, India, South Korea and Australia, Asia-Pacific is projected to offer attractive potential for market expansion. Over the next years, the abundance of raw materials and trained labor at low rates will likely boost the market for low-horsepower, energy-efficient motors in Asia-Pacific.

Rising energy prices, which have raised concerns about energy efficiency and several measures taken by the Departments of Energy (DOE) in many Asia-Pacific countries, are encouraging industries to switch to high-efficiency motors that consume less power, resulting in the region's energy-efficient motors market growth.

Competitive Landscape

The market for energy-efficient low horsepower AC motors is competitive due to several national and international businesses. Local manufacturers compete intensely with multinational corporations by providing motors at incredibly low prices and lower efficiency.

By purchasing Baldor Electric Company, ABB gained a large market share. As a result of the acquisition, ABB expanded its product offering in the market for energy-efficient motors.

Regal Beloit has grown its market share by utilizing numerous newly acquired brands, such as Leeson, Marathon Motors and GE Commercial Motors.

Major global energy efficient low horsepower AC motor market companies include ABB Ltd., Bosch Rexroth Ag, Emerson Electric CO., Honeywell International Inc., General Electric, Kirloskar Electric Company, Leeson Electric Corporation, Siemens AG, Power Efficiency Corporation and Toshiba Corporation.

Siemens AG:

Overview: Siemens is a German multinational company and Europe's largest industrial manufacturing firm, with headquarters in Munich and branches globally. The company's key segments include industry, energy, healthcare, infrastructure and cities, which emphasize the company's core activities. The company is a well-known manufacturer of medical diagnostics equipment. After the industrial automation division, the medical healthcare segment is the company's second-most profitable division, accounting for around 12% of total revenues.

The company's stock is included in the Euro Stoxx 50 stock market index. Siemens employs 293,000 employees around the world through its subsidiaries. In fiscal 2020, the Siemens Group generated sales of US$60.2 billion and net earnings of US$4.57 billion.

Product Portfolio: Siemens provides software for advanced smart grid and power distribution system planning, financing, construction, management and maintenance. Advanced industrial controls and power distribution are the company's specialties. SIMOTICS electric motors are distinguished for their high quality, ingenuity and efficiency. Siemens has the most comprehensive portfolio of low-voltage motors globally with SIMOTICS. SIMOTICS three-phase motors are the best choice for all applications, with power ratings ranging from 0.09 to 5300 kW. The motors can be directly linked to the line supply or fed from SINAMICS converters for variable-speed operation.

Key Development: Siemens demonstrated the Simotics SD motor series as part of the Digital Enterprise Virtual Experience at Hannover Messe 2021. Simotics SD is available in the Super Premium Efficiency (IE4) efficiency class in the standard version for power levels ranging from 2.2 to 1,000 kW and pole counts of 2, 4 and 75 kW for 6 poles and 55 kW for 8 poles. Simotics SD in Internet Explorer 4 outperforms the ErP Directive 2019/1781 (energy-related products). The regulation establishes environmental design standards for electric motors and speed control systems.

Why Purchase the Report?
• Visualize the composition of the energy-efficient low horsepower AC motor market segmentation by type, application and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the energy-efficient low horsepower AC motor market by analyzing trends and co-development deals.
• Excel data sheet with thousands of energy-efficient low horsepower AC motor market-level 4/5 segmentation points.
• Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global energy efficient low horsepower AC motor market report would provide access to an approx. 53 market data table, 43 figures and 197 pages.

Target Audience 2022
• Energy Efficient Low Horsepower AC Motor Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Emerging Companies
• Energy Efficient Low Horsepower AC Motor Manufacturers