Formulation of New Policies will Likely to Surge Demand for Energy Efficient Motors.
Since the year 1995, the applications of energy efficient industrial motors have gained significant traction in industries. By international standards motors have been classified based on their efficiencies levels into IE1, IE2, IE3 and IE4 motors. These standards are widely adopted in the industry and are the key platforms aimed at increasing the use of more efficient motors. New policies with respect to motor efficiencies have been formulated in response to new technologies. North American region has increased the adoption of IE3 as minimum energy performance standard level where as Europe is estimated to formulate a similar policy from 2017. The market for industrial motors is primarily being driven by developing countries such as China and India. These countries are still using lower efficiency motors due to their long operational lifetime. These markets are also aiming to formulate new policies wherein the usage of inefficient industrial motors can be reduced and get them to use the IE3 motors.
The global sales of energy efficient industrial motors have been increasing over 20 years. The implementation of IE3 in USA, Canada and Mexico and the announcement of IE3 implementation in Europe from 2017 has led to growth in sales of energy efficient motors further. It is estimated that motors contributed to 65% of global electricity consumption, and majority of this consumption is primarily from Europe and Asia and remaining 35% from Americas and RoW.
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