Low voltage motors are widely utilized in a variety of industries, including mining, food and beverage, oil and gas, automotive, packaging, and so on, as a result of widespread industrialization and constantly rising energy consumption throughout the world. These are motors that operate at voltages less than 1000 V and produce maximum power, allowing for increased production, quality, and energy savings.
Various motor efficiency legislation adopted around the world is expected to boost the global low voltage motor market over the forecast period. Manufacturers are required to use more expensive and energy-efficient motors as a result of these laws.
During the projected period, the worldwide low voltage market is expected to develop at a single-digit CAGR, with great potential in the next 4-5 years. To improve their production process, most manufacturers are increasingly focused on advanced technology and high-quality low-voltage motors, which has resulted in an increase in demand for advanced low-voltage motors.
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Global Low Voltage Motor Market: Drivers & Restraints
With the rise in technological advancement, increasing demand for machinery across the world, and advantages offered by low voltage motors due to their efficient nature, the global low voltage motor market is anticipated to show robust growth during the forecast period. The growing consumption of low voltage motors by end-user industries will continue to drive the growth in the low voltage market over the forecast period.
In addition, stringent motor efficiency legislation and retrofits due to aging equipment are expected to impact the global low voltage motor market in a positive way.
Global Low Voltage Motor Market: Regional Outlook
Depending on geographic regions, the global low voltage motor market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2014, Asia Pacific dominated the global low voltage motor market owing to the growing consumption of low voltage motors by the automotive and electronics industry, in this region. In addition, China is the largest country market for low voltage motors in the Asia Pacific and is poised to show strong opportunities for low voltage motors in near future. After Asia Pacific North America is projected to show vigorous growth in the global low voltage motor market, especially due to the increasing demand for low voltage motors in countries like the US and Canada, during the forecast period.
Global Low Voltage Motor Market: Market Players
Some of the major players operating in the global low voltage motor market are ABB, TECO-Westinghouse Motor Company, Siemens, Hyosung Power and Industrial Systems Performance Group, Anhui Wannan Electric Machine, ATB Group, Leroy Somer, LEZ Ruselprom, Luan JiangHuai, NIDEC, Regal Beloit, Shandong Huali Electric Motor Group, GE Industrial, Toshiba International, WEG, VEM Group, etc.
The report covers an exhaustive analysis on:
- Low Voltage Motor Market Segments
- Low Voltage Motor Market Dynamics
- Low Voltage Motor Market Size
- Low Voltage Motor Market Supply & Demand
- Low Voltage Motor Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Low Voltage Motor Technology
- Low Voltage Motor Market Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
The Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Low Voltage Motor Market: Market Segmentation
On the basis of product type the global low voltage motor market is segmented into four types
- IE1
- IE2
- IE3
- IE4
On the basis of end use industry the global low voltage motor market is segmented into six types
- Automotive
- Mining
- Electronics
- Textile
- Food & Beverages
- Others
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