Energy Efficient Motors Market Worth $91.46 Billion - 2018
Geographical split for every application, product types and end user is included in the report as the market share of different applications of energy efficient motors varies from one region to another. Aerospace & defense, residential and agriculture sectors are expected to hit in the energy efficient motors market in the coming five years.
This report describes the overall market into five major geographical segments, namely, North America, Europe, APAC (excluding Chia), China, and ROW. North America is the market leader in the overall energy efficient motors market; followed by APAC and Europe. In ROW, Middle East, and Africa are the largest contributors. The major reasons behind the growing market for the Energy Efficient Motors are the increasing problems of energy consumption, demand of efficient systems and reducing emission. North America is the major region to have dominated the Energy Efficient Motors market. APAC is expected to be the fastest growing region in the overall market of energy efficient motor. Energy Efficient Induction motors is expected to boost the growth of the energy efficient motors market.
The overall market of the energy efficient motors is expected to grow from $31.79 billion in 2012 to $91.46 billion in 2018 at a CAGR of 19.67% from 2013 to 2018.
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