The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Latin America Energy Efficient Motors Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Latin America Energy Efficient Motors Industry (2024-2030):
According to the latest report, 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 report demonstrates the prominent factors propelling the exponential growth of the Latin America Energy Efficient Motors industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2019-22
- Base Year: 2023
- Forecast Period: 2024-30
- CAGR: 10.88%
- Market Value In 2023: USD 8.82 Billion
- Market Value By 2030: USD 22.46 Billion
What are the major Challenge facing the Latin America Energy Efficient Motors industry?
Prevalence of Conventional Induction Motors Impede Market Growth – Energy-efficient motors are made of highly advanced materials and require additional testing certification to ensure efficiency. As a result, the cost of production for the manufacturers is higher and to revive the profits, the market players often sell these motors at higher costs. Along with this, the energy-efficient motors require regular maintenance to ensure the proper configuration of the sensitive materials within the motors.
However, the traditional motors require less maintenance compared to the energy-efficient motors. As a result, the end-users using the traditional motors undergo less maintenance services and bear fewer additional overhead costs. Thus, the companies that have financial constraints tend to use induction motors, further hindering the Latin America Energy Efficient Motors Market growth.
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Latin America Energy Efficient Motors Market Segmentation
The Latin America Energy Efficient Motors Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- 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
- Brushed- Market Size Forecast 2019-2030, USD Million
- Brushless - 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
- 2.3 kW-375 kW- Market Size Forecast 2019-2030, USD Million
- 375 kW- Market Size Forecast 2019-2030, USD Million
- By Application
- Power Intensive Appliances
- Pumps- Market Size Forecast 2019-2030, USD Million
- Compressors- Market Size Forecast 2019-2030, USD Million
- Industrial Fans and Blowers- Market Size Forecast 2019-2030, USD Million
- HVAC- Market Size Forecast 2019-2030, USD Million
- Others- Market Size Forecast 2019-2030, USD Million
- Non-Power or Low-Power Intensive Appliances
- Household Appliances- Market Size Forecast 2019-2030, USD Million
- Refrigerators- Market Size Forecast 2019-2030, USD Million
- Washing Machines Dryers- Market Size Forecast 2019-2030, USD Million
- Vacuum Cleaner- Market Size Forecast 2019-2030, USD Million
- 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
- Automotive- Market Size Forecast 2019-2030, USD Million
- Aerospace- Market Size Forecast 2019-2030, USD Million
- Other 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
- By Country
- Mexico
- Brazil
- Argentina
- Chile
- Colombia
- Rest of Latin America
As per the regional aspect, the Latin America Energy Efficient Motors Market is expected to be dominated by North America by capturing the potential market share.
Explore further details about this research report - https://www.marknteladvisors.com/research-library/latin-america-energy-efficient-motors-market.html
Top Companies in the Latin America Energy Efficient Motors Market
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.
Global Latin America Energy Efficient Motors 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.
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