[250 Pages Report] Global Low-voltage Motor demand is anticipated to be valued at USD 39.1 Billion in 2022, forecast to grow at a CAGR of 6.7% to be valued at USD 75 Billion from 2022 to 2032. Extensive industrialization in a variety of sectors, as well as the ability to lower the likelihood of equipment failure, will provide great development opportunities for the low-voltage motors industry.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 37 Billion |
| Expected Market Value (2022) | USD 39.1 Billion |
| Anticipated Forecast Value (2032) | USD 75 Billion |
| Projected Growth Rate (2022-2032) | 5.2% CAGR |
Low-voltage motors are energy-saving motors that can operate at voltages less than 1000V and provide up to 1000 KW of power. Low-voltage motors are more effective and efficient by 2% to 8% compared to standard motors. These motors produce a standard output with a low power input. They are built in accordance with the National Electric Manufacturers Association's specified efficiency criteria (NEMA).
Reduced-voltage motors provide characteristics such as positive energy balance, higher productivity and quality, high safety requirements, and low energy usage. Low-voltage motors are used in a variety of sectors, including food and beverage, mining, automotive, electronics, textile, oil and gas, automotive, and packaging. Low-voltage motors are commonly used in a variety of appliances such as air-conditioning units, elevators, fans, compressors, pumps, and so on.
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
Global industrialization is accelerating the expansion of the automation sector. This has resulted in a high demand for low-voltage electric motors in order to save additional production costs. Furthermore, a movement in consumer choice from low-efficiency to high-efficiency and energy-saving motors has boosted demand for low-voltage motors.
Furthermore, a spike in residential building and remodeling is projected to affect market growth in the approaching years. Looking ahead, the worldwide low voltage electric motor market is predicted to increase slowly over the next five years. Energy efficiency, load fluctuation difficulties, guarantee of stability, and accuracy will provide strong growth possibilities for the low-voltage motors market for the forecast period. The rising prevalence of technical improvements will also bring new growth stars to the low-voltage motors industry.
The integration of smart sensors in low-voltage motors enables end-users to monitor and track precise measurements of numerous parameters. This factor will provide enormous potential opportunities for the low-voltage motors industry. The incorporation of smart technologies through these motors also contributes to the expansion of the revenue landscape of the low-voltage motors market. These aspects bode well for the growth of the low-voltage motors market. Furthermore, Research and development efforts are an essential aspect of the low-voltage motors market's growth structure.
The high cost of producing low-voltage motors is expected to stymie the growth of the low voltage motors industry.
During the projected period, Asia Pacific is expected to be the prominent region, followed by North America and Europe. The low-voltage motors market in emerging economies such as China and India is predicted to develop owing to rising demand for low-voltage motors in the two nations' automotive and electronics sectors.
Furthermore, rigorous motor economy standards and the retrofitting of old equipment are factors that are projected to enhance demand for low-voltage motors throughout the forecast period.
According to Future Market Insights, Motors of the IE2 and IE3 kinds have been widely accepted in North America. Moreover, the trend toward cleaner energy in the power generating sector is likely to enhance the low-voltage motors market in the United States, especially for solar and wind projects.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
Mergers, mergers, and partnerships are also offering chances for low-voltage motor makers and suppliers to withstand competitive pressure and fulfill end-user demand for energy-efficient motors. Some of the top companies in the worldwide low-voltage motors market are ABB, Siemens, TECO-Westinghouse Motor Company, and Hyosung Power & Industrial Systems Performance.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | End-Use Industries, Appliances, Region |
| Regions Covered | North America; Western Europe; APEJ; Japan; Latin America; Eastern Europe; Middle East & Africa |
| Key Countries Profiled | U.S, Canada, Brazil, Argentina, Germany, U.K, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | ABB; Siemens; TECO-Westinghouse Motor Company; Hyosung Power & Industrial Systems Performance |
| Customization | Available Upon Request |
FMI projects the global Low-voltage Motor market to expand at a 5.2% value CAGR by 2032.
Asia Pacific is expected to be the most opportunistic Low-voltage Motor market.
ABB, Siemens, TECO-Westinghouse Motor Company, and Hyosung Power & Industrial Systems Performance are some prominent Low-voltage Motor manufacturers
| Market Estimated Size in 2023 | USD 12,286.50 million |
|---|---|
| Projected Market Value in 2033 | USD 19,080.56 million |
| Value-based CAGR from 2023 to 2033 | 4.50% |
Explore Automation Auxiliary Insights
View Reports
Low Voltage Motor Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
