Higher Energy Efficient Motors to Grow Faster as they Support Sustainability Initiatives

Limiting the increase in the global average temperature to well below 2°C and pursuing efforts to limit the temperature increase to 1.5°C: these are the goals set by the 26th UN Climate Change Conference (COP26), reaffirming the targets of the 2015 Paris Agreement. Achieving these goals will require rapid, deep, and sustained reductions in global greenhouse gas emissions, including reducing global carbon dioxide emissions by 45 percent by 2030 (relative to 2010 level), as well as deep reductions in other greenhouse gases. At the same time, meeting the challenges of growing demand for electrical energy and rising energy prices due to geopolitical issues require heavy investment in power generation and energy. The majority of these investments relies on natural resources that are rapidly being depleted due to continuous usage/extraction, impacting the environment adversely. One of the best strategies to curtail the situation is reducing energy waste and increasing energy efficiency. Electric motors play a major role in this strategy, since about 40 percent of global energy demand is estimated to be related to electric motor applications.