Energy Efficient Motors Market worth $91.46 Billion by 2018

Energy-efficient motors, also called premium or high- efficiency motors, are 2 to 8% more efficient than the conventional motors. For a motor to be labeled as "energy-efficient" it must meet or exceed the efficiency levels described in the National Electric Manufacturers Association's MG1-1993 publication.

Electric motors have evolved over various phases during the past 150 years. Among the various motor constructions to choose from (such as DC or synchronous), the AC cage induction motor is by far the most widely used in industry because it is both rugged and reliable and can be used for most variable speed drive applications. AC induction motor accounts for a major share of the total electricity use in the industrial and manufacturing sector. Power consumption by AC motors in the agricultural and commercial sectors is also quite substantial. As the energy consumed by a motor during its life cycle is 60-100 times the initial cost of the motor; the efficiency of the motor is of paramount importance, both during selection and operation.

Energy-efficient motors have higher performance because of their key design improvements and more accurate manufacturing tolerances. Key design improvements like lengthening the core and using lower-electrical-loss steel, thinner stator laminations, and more copper in the windings are responsible for reduced electrical losses. Furthermore the efficiency is increased by improved bearings and a smaller, more aerodynamic cooling fan.

                                                    Source: http://www.nwfpa.org/

According to a market research report by MarketsandMarkets on Energy-efficient motors, the premium motors market is expected to grow at a CAGR of 19.67% from 2013 to 2018 and reach $91.46 billion in 2018. The report explains the overall market into 5 major geographical areas like North America, Europe, APAC (excluding China), China, and ROW. North America is considered as the market leader in the overall premium motors market or the Energy-efficient motors market; followed by APAC and Europe. In rest of the world (ROW), Middle East, and Africa are the largest contributors.

The reasons like the increasing problems of energy consumption, demand of efficient systems and reducing emission are the main factors behind the growing market for the Energy Efficient Motors. North America is the major region to have dominated the market whereas APAC is expected to be the fastest growing region in the overall market of energy efficient motors.

Different advantages of Energy efficient motors may include:

1.       Optimum efficiency.

2.       Longer life.

3.       Lower operating costs.

4.      Other benefits like better electrical and thermal tolerance, ability to work at higher ambient temperature.

Different applications of energy efficient motors are allowing different end users to use these motors in different ways. The major end users like industrial, commercial buildings, residential, transportation and aerospace & defense are covered in the report resulting in segmenting the end users market on the basis of different energy efficient product types, applications and geographical regions. Energy efficient motors are penetrating in the overall motors market. The penetration rates of the energy efficient motors along with the total available market for each application are discussed in the report.

The report can be referred here:
http://www.marketsandmarkets.com/Market-Reports/energy-efficient-motor-163.html