Press Release

Latin America Energy Efficient Motors Market to Reach USD 22.46 & Grow at a CAGR of Around 10.88% During 2024-2030

The Latin America Energy Efficient Motors Market size was valued at around USD 8.82 billion in 2023 and is estimated to reach USD 22.46 by 2030. The market is projected to grow at a CAGR of 10.88% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The rising focus on sustainability, the industrial 4.0 revolution, technological advancements & emerging power crisis are some of the factors that are contributing to uplifting the market growth.

In recent years, Latin American nations recorded a rise in carbon emissions due to increasing transportation, agriculture & industrial activities. These greenhouse emissions are detrimental to human health as well as the environment. Therefore, to reduce these emissions, the end-user industries are opting for solutions, like energy-efficient motors that support sustainability.

Along with this, Latin American countries are heavily reliant on gasoline for electricity generation. However, the supply chain disruption caused by the political issues & trade disagreements is resulting in energy insecurity & higher electricity tariff rates. As a result, the utility bills of the enterprises that function 24*7 are increasing. Thus, to lessen their operational costs, these organizations are increasingly utilizing energy-efficient motors.

Additionally, the top companies in the market are increasingly working on providing highly advanced & premium energy-efficient motors. This would gain the attention of the industries that perform high power-intensive tasks. Furthermore, the official authorities in the region are laying policies that would continue to encourage the adoption of sustainable & energy-efficient solutions within the industrial premises, supporting market growth in the forecast years, further states the research report, “Latin America Energy Efficient Motors Market Analysis, 2024.”

Latin America Energy Efficient Motors Segmentation Analysis

IE4 to Outperform in Forecast Years

Based on the efficiency class segment, the market is further bifurcated into, IE1, IE2, IE3, and IE4. Among them, IE4 accounts for the prominent share of the Latin America Energy Efficient Motors Market. These motors provide better output even at lower voltage, making them a preferable choice. These motors provide higher efficiency than the other types of motors. Therefore, the industry verticals that require consistent power support tend to utilize these motors. Further, these motors are highly durable, have longer lifespans than IE1 & IE2, and offer more precise control. Thus, the different industries generally seek to integrate their manufacturing facilities with these types of motors, thus supporting market growth.

Mexico Anticipated to Dominate the Market During 2024-30

Geographically, Mexico holds a dominant share in the Latin America Energy Efficient Motors Market growth. The developed industrial sector and consistent real estate growth in the country are supporting the demand for motors & related products. The favorable business environment in Mexico due to easy corporate reforms is resulting in the establishment of industrial units across the nation. These industrial facilities necessarily require motors and allied products like HVAC that are manufactured using motors. Thus, the increasing development of these production sites is propelling the demand for these motors. Along with this, the country is registering growth in the real estate sector due to economic improvement. Thus, the construction of new buildings would continue to escalate the demand for products like energy-efficient motors, fans & pumps, hence amplifying market growth.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including 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), and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Latin America Energy Efficient Motors Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?