According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on Latin America Energy Efficient Motors Market - Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.
Latin America Energy Efficient Motors Market Analysis and Size
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.
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Some of the major players operating in the Latin America Energy Efficient Motors Market are 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.
Latin America Energy Efficient Motors Market Growth 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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Market Segment and Geographical Analysis
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
- 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
- Household Appliances- 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
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