Market Trends of Europe Induction Motor Industry
This section covers the major market trends shaping the Europe Induction Motor Market according to our research experts:
Energy-Efficient Motors Drive the Market Growth
- Due to rapid industrialization, induction motors are massproduced by many manufacturers in European countries and sold in standard catalog types and sizes. The efficiency of an induction motor is an essential factor to consider while using it. In countries like Germany and the United kingdom, several companies and suppliers, as well as various manufacturers and distributors, have introduced the efficiency of induction motors.
- The European region has set standards for energy-efficient induction motors. These standards include IE1 (standard efficiency), IE2 (high efficiency), IE3 (premium efficiency), and IE4 (super premium efficiency). These IEC codes allow the government of Europe to specify efficiency levels for MEPS, the Minimum Energy Performance Standards that electric motors have to meet for proper use.
- Energy-efficient motors can better withstand voltage variations compared to standard motors. As energy-efficient motors come with a high initial cost, the benefits in terms of energy savings and greater output, as well as a lower maintenance cost of these motors, turned out to be driving factors for the market growth.
- According to process engineering, the European Commission has already indicated that European regulations regarding energy-efficient induction motors will be of great use. The estimated eight billion electric motors (Induction Motors) in use currently across Europe consume approximately 50% of the electric power generated in the European region. Thus induction motors, therefore, play a decisive role when it comes to reducing energy consumption.
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Oil & Gas Industry to Witness Significant Growth
- According to European Commission, in some parts of Europe, namely in the Black Sea and the Mediterranean, there is unexploited oil and gas potential, with some exploration potential in Cyprus, Greece, Malta, Bulgaria, Romania, and Portugal. There is an increasing demand for induction motors in these countries due to the technological innovation and improvements in efficiency and cost-reduction of the motors.
- Most of the electricity needed for the oil and gas industry in countries like Germany and the United Kingdom is necessary for induction motors. By implementing higher-efficient solutions of induction motors, the total annual electricity consumption of the Netherlands could be saved in the European region.
- The European region is the first country to make the IE4 level mandatory for some categories of induction motors. For instance, Motors between 75kW and 200kW must meet the IE4 level as of July 2023, and by July 2021, the three-phase motors with a rated output between 0.75kW and equal to or below 1000kW must reach the IE3 level.
- In many European countries like Germany, France, and the United Kingdom, induction motors dominate and account for the largest total electricity consumption in the oil and gas sector. For instance, in Europe, induction motors are estimated to account for about 70% of all industrial electricity consumption in the oil and gas industry.
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