In 2023, the call for sustainable, green and healthy development is getting louder, coupled with the impact of policies in some countries, the electric industry will face more opportunities and challenges.
The global economy faces many challenges in 2023, along with several opportunities. The challenges mainly include the continued impact of the COVID-19 pandemic and the economic instability caused by the ongoing war in Ukraine. However, with the global policy of energy conservation and emission reduction and environmental protection development, electric motors, as the most important electromechanical energy conversion device, can effectively improve energy use efficiency by reducing energy consumption to achieve the policy goal of energy conservation and emission reduction. From the policy and economic point of view, improve motor efficiency and reduce energy consumption is the development direction of each application, with the deepening of intelligence and electrification in 2023 and the expansion of new energy vehicles and other application areas, the motor industry will usher in new opportunities.
Market forecast and analysis of energy-saving motors
In this uncertain economic environment, the global market for energy-efficient motors is expected to continue to grow. According to a recent report by Reportlinker, the global market for energy-efficient motors will reach $44.9 billion by 2030, growing at a CAGR of 3.4% during the period 2022-2030. Notably ACMotors, the report shows that ACMotors is expected to grow at a CAGR of 3.1%. The DC motor industry is also expected to grow, with a CAGR forecast of around 4.1% over the next eight years. Regarding the market size in different regions, China, the world's second largest economy, is expected to reach a market size of $9.1 billion by 2030.
From the report, it is easy to see that the future energy-saving motor market is very competitive. Therefore, for practitioners in the relevant industry, it is of great significance to comply with the development of the times and speed up the transformation of enterprises to improve productivity and market competitiveness. In recent years, with the development of motor technology, automation has gradually become the development direction of many enterprises. As an important key part of the automation motion control technology, the motor is the core product that helps intelligent manufacturing industry to enhance the competitive advantage.
Since its initial establishment in 2007, Lunyee has been dedicated to the research and development of micro, small AC/DC motors, servo motors and other machines, and the company's energy-saving motors are loved by new and old customers for their high efficiency, low noise, long life, lightweight, and maintenance-free features. In order to adapt to the development of the market changes, Lunyee also made some new changes in 2023. First of all, in terms of research and development, the company has invested more money and is doing further transformation and upgrading on the basis of the original machine. The specific measures are to upgrade the machine in response to the feedback from customers in previous years, in addition to the development of new products.
In short, the energy-saving motor market still has great potential for development in 2023 and many years later.