Rising need to diminish greenhouse effect would Drive the Growth Energy Efficient Motor Market

According to the new market research report on the "Energy Efficient Motor Market by Efficiency Level (IE1, IE2, IE3, and IE4), Type, Application (HVAC, Fans, Pumps, Compressors, Refrigeration, Material Handling, and Material Processing), Vertical, and Geography - Global Forecast to 2023", the energy-efficient motor market is projected to reach USD 41.6 billion by 2023 from USD 30.3 billion in 2018, at a CAGR of 6.5% between 2018 and 2023. The major factors driving the growth of the energy-efficient motor market are energy savings and the subsequent cost over traditional motors, increasing governmental support worldwide towards the adoption of energy-efficient motors, rising need to reduce the greenhouse effect, and growing adoption of energy-efficient motors in the industrial sector.

Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=163

Rising need to diminish greenhouse effect

The growing need for diminishing the greenhouse effect is fueling the demand for the energy-efficient solutions, which would drive the growth of the energy efficient motor market. With the growing awareness about energy conservation, the companies are opting for eco-friendly solutions for their technologies and processes. Switching to energy-efficient solutions is one of the important factors which help reduce the greenhouse gas emissions arising from the electricity generated from fossil fuel.

The abovementioned factors are propelling the industrial end users to switch from general motors to energy efficient motors. This would enable countries to conserve natural energy resources and significantly reduce greenhouse gases and harmful emissions. Moreover, the adoption of energy efficient motors also saves money for end users by reducing the energy consumption. This trend would remain same during the forecast period.

Energy-efficient motor market to grow at the highest CAGR in the Asia Pacific during the forecast period

The Asia Pacific is projected to be the fastest-growing regions in the energy-efficient motor market by 2018, and grow at the highest CAGR during the forecast period. According to the Asian Development Bank (ADB), the share of the region to global energy consumption is expected to increase from 34% in 2010 to 56% by 2035. ADB has undertaken investments worth USD 970 million in energy efficiency projects, which are expected to help the Asia Pacific countries meet their national targets for energy efficiency and the reduction of greenhouse gas emissions by 2020.

The report profiles the key players in this market, such as ABB (Switzerland), Siemens (Germany), WEG (Brazil), GE (US), Schneider Electric (France), Nidec (Japan), Rockwell (US), CG (India), Bosch Rexroth (Germany), and Kirloskar Electric (India).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441=