Energy efficient motors market could be ‘worth $90bn’

The market for machine motors which are energy efficient could be worth more than $90 billion dollars (£60bn) in five years. That’s according to new research which predicts the market will […]

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By Vicky Ellis

The market for machine motors which are energy efficient could be worth more than $90 billion dollars (£60bn) in five years.

That’s according to new research which predicts the market will grow from $32 billion now to $91.46 billion in 2018.

The report by consultancy MarketsandMarkets covers major end users like industrial, commercial buildings, residential, transportation, aerospace and defence.

Given that power use and carbon emissions are coming under more rules around the world, the analysts say the operating cost of energy efficient motors is much less compared to standard motors because of smaller energy costs and fewer CO2 emissions.

While North America has dominated the energy efficient motors market, Asia Pacific is expected to be the fastest growing region over the next five years.