Energy Efficient Motor Market Forecast 2030

The global Energy Efficient Motor Market is projected to reach USD 66.52 billion by 2030, growing at a CAGR of 6.6%.

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The expansion of the oil and gas industry worldwide is a key driver for this market, as the rising demand for green technologies, such as energy-efficient motors, enhances the efficiency of operations like crude oil refining and petrochemical production. North America currently leads the energy-efficient motors market and is expected to maintain its dominance throughout the forecast period. This is primarily due to the increasing demand for high-efficiency motors in the region’s growing oil and gas sector, where they are crucial for optimizing energy use in hydrocarbon extraction and processing.