According to the new market research report, the "Energy Efficient Low Horsepower AC Motors Market (2013 – 2018): Product (Synchronous, Asynchronous), Current (Single phase, Three-phase), Application (Consumer, Industrial, Refrigeration, Medical), Geography (North America, Europe, APAC, ROW) " is expected to reach $44.32 billion by 2018, at a CAGR of 11.91% from 2013 to 2018.
Increasing population over the past years has been raising a number of questions regarding energy shortage and the increasing environmental problems. A large number of studies have acknowledged these problems (also, brought about awareness at various levels); and the process of tackling these issues has begun. With the growing awareness about energy conservation in mind, companies are opting for green solutions for their technologies and processes. By saving energy, energy costs can be saved. Also, through energy-efficient technologies, Carbon Dioxide (CO2) emissions can be considerably reduced, thus providing a healthier environment. This has spurred the establishment of energy efficiency standards for electric motors, which are ubiquitous in their applications. IEC, NEMA and many other standards have been defined for electric motors in industrial and commercial applications.
The report is aimed at identifying the global energy efficient low horsepower AC motors market. The energy efficient low horsepower AC motorsmarket has been covered under two broad segments: Fractional Horsepower AC motors and energy efficient 1hp-3hp AC motors. These markets are covered by product type, application, and geography. The report covers the overall market and sub-segment markets through extensively detailed classifications.
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The push for reduced emissions and higher savings from major consumer appliances like air conditioner, refrigerators, and washing machines, among others, has significantly pushed the motor manufacturers to produce more energy efficient low horsepower AC motors. There has been an increasing support extended by various governments across most of the geographies by way of a number of incentives and initiatives for energy efficient motors. For instance, the U.S. government backed “energy efficiency and conservation block grant”program will fund various new and existing energy conservation programs. In this program, various activities are considered; like energy efficiency upgrades, replacement of the outdated appliances, and other initiatives. Similar developments have been observed from other countries as well. All these measures are expected to make our industries more efficient and healthier in the future.
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