Energy Efficient Motor Market

Energy-efficient motors are different from regular motors because their design has been changed to make them more efficient.

The global market for energy-efficient motor drivers and restraints is anticipated to expand at a CAGR of **% from 2018 to 2031. Due to their low emissions and decreasing operating costs, electric vehicles have been gaining popularity in recent years. This, in turn, is driving the expansion of the market for energy-efficient motor drivers and restraints.

The Asia-Pacific region is performing well in the market for energy-efficient motors. The region is experiencing growth as a result of growing awareness of the significance of energy-efficient motors, expanding government initiatives, and the support of key players. In addition, manufacturers are creating new product lines for this market, which will improve efficiency.

The market is segmented based on product type, application, and geography. On the type side, the market is divided into three categories based on the power sources used to propel the vehicles: solar, wind, and electric vehicles (EV). On the application side, the market is segmented into five types based on their end users: industrial, household appliances, automotive, marine equipment and systems, and others.

ABB Ltd., Bosch AG, Delta Electronics Inc., Eaton Corporation, Fanuc Corp., Harman International Industries Incorporated, Hitachi Automotive Systems Ltd., Johnson Controls Incorporated, Keyence Corporation, Mitsubishi Electric Corporation, NEC Corporation, Paccar Inc., Tesla Motors Inc. are among the key players in this market.