Latin America Energy Efficient Motorss Market Overview:
According to MarkNtel Advisors study the Latin America Energy Efficient Motors Market size is valued at USD 8.82 billion in 2023 & is projected to reach USD 22.46 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 10.88% during the forecast period, i.e., 2024-30. The factors attributing to the demand growth for energy-efficient motors in Latin American countries are the increasing focus on sustainability, the industrial 4.0 revolution, the rising implementation of government energy policies, and the transition towards highly efficient motors.
Key Findings of the Study: Latin America Energy Efficient Motorss market
Latin America Energy Efficient Motors Market Driver:
Industrial 4.0 Revolution Amplifying the Market Growth – Industries across Latin America are undergoing significant changes due to the growing government focus on automating the industrial sector. As a result, end-user industries, like Automotive, Aerospace, etc., are adopting mechanical products, like motors & others to streamline their production process. As per the company survey, more than 65% of the industries in the region are opting for high-power products to ease their operational tasks, driving the Latin America Energy Efficient Motors Market.
Additionally, the governing bodies of Latin American countries are easing their corporate laws. As a result, several foreign companies are investing in the region and setting up their manufacturing plants. Based on the Lloyds Bank Trade, the number of greenfield investments in Mexico reached about 482 in 2022, which is an increase of about 28% compared to 2021. The rising allocation of funds to enhance & set up production facilities would continue to enhance the adoption of efficient motors, thus enlarging market growth.
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Scope of the Latin America Energy Efficient Motorss Market Report Segmentation
-By Efficiency Class
- IE1- Market Size & Forecast 2019-2030, USD Million
- IE2- Market Size & Forecast 2019-2030, USD Million
- IE3- Market Size & Forecast 2019-2030, USD Million
- IE4- Market Size & Forecast 2019-2030, USD Million
-By Motor Type
- DC Motors- Market Size & Forecast 2019-2030, USD Million
- AC Induction Motors – Market Size & Forecast 2019-2030, USD Million
- Synchronous Motors – Market Size & Forecast 2019-2030, USD Million
-By Power Rating
- <1 kW- Market Size & Forecast 2019-2030, USD Million
- 1-2.2 kW- Market Size & Forecast 2019-2030, USD Million
- 3 kW-375 kW- Market Size & Forecast 2019-2030, USD Million
- >375 kW- Market Size & Forecast 2019-2030, USD Million
-By Application
- Power Intensive Appliances
- Non-Power or Low-Power Intensive Appliances
- Others- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
-By End Users
- Manufacturing Facilities- Market Size & Forecast 2019-2030, USD Million
- Commercial, Residential & Agriculture- Market Size & Forecast 2019-2030, USD Million
- Power Generation- Market Size & Forecast 2019-2030, USD Million
- Transportation- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
-By Installation
- One Drip Proof (ODP)- Market Size & Forecast 2019-2030, USD Million
- Totally-Enclosed Fan Cooled (TEFC)- Market Size & Forecast 2019-2030, USD Million
-By Demand Type
- New Installation- Market Size & Forecast 2019-2030, USD Million
- Retrofitting- Market Size & Forecast 2019-2030, USD Million
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Geographical analysis:
-By Country
- Mexico
- Brazil
- Argentina
- Chile
- Colombia
- Rest of Latin America
Mexico holds a dominant share in the Latin America Energy Efficient Motors Market. The country has a prevalence of more industries & production facilities that power solutions demand, supporting the demand for energy-efficient motors. The country has more commercial buildings & residential units to provide ample office space & affordable housing facilities to the consumers. These units are equipped with HVAC, Fans & Pumps, etc., which are made up of motors. Thus, the increasing demand for these HVAC products in Mexico due to the rapid real estate growth is consequently uplifting energy-efficient motor sales.
Latin America Energy Efficient Motors Industry Recent Development:
- 2024 Year: ABB launched energy-efficient motors & inverter package for electric buses. Along with this, the company also introduced IE4 premium motors for different industry verticals.
- 2024 Year: Siemens AG introduced super-efficiency (IE4) motors that operate even in low voltage.
Current Landscape of Latin America Energy Efficient Motorss Market
The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Latin America Energy Efficient Motorss market. The research report profiles major players, including
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- ABB
- Siemens AG
- Potencia Industrial
- Cantoni Motor
- Regal Rexnord Corporation
- Rockwell Automation
- Nidec Corporation
- Mitsubishi Corporation
- Johnson Electric
- Franklin Electric
- Toshiba Industrial Products and Systems Corporation
- Weima Electric (TECO Electric & Machinery Co., Ltd)
- Others
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