Almost everything which moves, apart from humans and animals, has an electric motor, be it a washing machine or a train. It is a simple device which converts electricity into mechanical energy, most commonly in the form of motion. In the current scenario, the major reason behind the increasing demand for such devices is the need to reduce the consumption of energy.
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For instance, in a factory, an electric motor accounts for the maximum electricity usage, and by using energy-efficient devices, not only can the expenditure on power be reduced, but the carbon emissions can also be ultimately brought down. Thus, with the expansion in the industrial sector, especially in developing countries, in a world constantly plagued by air pollution, the electric motor market is projected to grow to $195.2 billion by 2030 from $118.2 billion in 2017, at a 4.8% CAGR during 2020–2030.
The implementation of the International Energy (IE) standards, in order to reduce the electricity consumption, is bolstering the demand for compliant motors. Currently, motors compliant with the IE3 standards are majorly used, but with the implementation of stricter standards, the demand for IE4-compliant variants is rising. Apart from energy-efficient models, those with a high power-to-weight ratio are also witnessing a rising demand from industries.
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This is because large and heavy motors, though offering appreciable power output, are difficult to transport. This is why Siemens AG developed a motor in 2015, weighing merely 50 kg, but offering a power output almost 260 kilowatts (kW). Apart from the portability issues, the constant reduction in the size of machines is also a reason for the rising popularity of high-power-to-weight-ratio motors around the world.