IE4 Permanent Magnet Synchronous Motors Market: Overview
IE4 permanent magnet synchronous motors refers to a ultra-premium efficiency class motor, which is planned and built in accordance with the energy-efficient motors program to support end users to utilize motor of higher efficiency. The objective of usage of IE4 permanent magnet synchronous motors is to minimize consumption of energy and lessen CO2 emissions. These motors are also used to stimulate usage of industrial compressors, pumps, fans, and various other mechanical applications. Therefore, growth of global IE4 permanent magnet synchronous motors market.
In its report, titled global IE4 permanent magnet synchronous motors market, Transparency Market Research tries to explain every detail that is relevant for the business to flourish in the years to come. The report offers description on competitive landscape of the market, challenges, geographical analysis, key market trends, and opportunities.
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IE4 Permanent Magnet Synchronous Motors Market: Notable Developments
Every market goes through changes and developments over time. Here are a few notable developments pertaining to the global IE4 permanent magnet synchronous motors market:
- In June 2019, Hindustan Platinum Pvt. Ltd. precious metals manufacturer and refiner Hindustan Platinum Pvt. Ltd, all is set to take over electrical contacts manufacturing plant of ABB, Swiss engineering company plant in Humacao, Puerto Rico.
- Recently, Fuji Electric Co. Ltd has agreed to make an acquisition of Consul Neowatt Power Solutions Pvt. Ltd, a Chennai-based manufacturer of power backup equipment.
Fuji Electric Co., Ltd., Kienle + Spiess GmbH, ABB, Anhui Wannan Electric Machine Co., Ltd., Toshiba Corporation, and Motori Elettrici s.r.l., are some of noted market players of the global IE4 Permanent Magnet Synchronous Motors Market.
IE4 Permanent Magnet Synchronous Motors Market: Key Trends
Below-mentioned are market trends and opportunities that are associated with the global IE4 Permanent Magnet Synchronous Motors Market:
Rising Environmental Concern and Widespread Applications Trigger Market Growth
IE4 motors find its usage in a number of robotic processes. Elements such as control, torque requirements, acceleration, angular movements, and speed make IE4 motors a perfect option for manufacturers for robotic system. Improved performance and efficiency due to the growing need for superior machine control have enhanced the performance of equipment in which IE4 motors are installed.
Increased adoption of green technologies is gaining traction across the globe. The advantages of energy-efficient IE4 motors over standard motors comprise high-quality insulation & lamination and low fan losses. Such factors make a very significant and apparent impact on the growing requirement for energy-efficient IE4 motors across many end-use industries. Additionally, implementation of strict environmental norms and laws are propelling the demand for global IE4 permanent magnet synchronous motors market. Industries such as ventilation, HVAC, material handling systems, refrigerators, compressed air, and pumps serve as the main end-users of energy-efficient and high performing IE4 motors, thus fueling the growth of global IE4 permanent magnet synchronous motors market. Furthermore, the wind power and the blowers sectors are forecasted to manifest high demand for IE4 motors in the years to come.
On the other hand, the factor that restrains the growth of global IE4 permanent magnet synchronous motors market is rising preference for installation of IE2 motors by many domestic manufacturers. These manufacturers might not be able to adapt IE4 motors, mainly due to limitations of domestic production, thereby hampering growth of global IE4 permanent magnet synchronous motors market.
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IE4 Permanent Magnet Synchronous Motors Market: Geographical Analysis
In terms of geography, the global IE4 permanent magnet synchronous motors market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share, and is anticipated to continue with its dominant position over the forecast timeframe. This is mainly due to rapid industrial growth in the emerging economies such as China and India and China.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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