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Low Voltage Motor Market

Market Insights on Low Voltage Motor covering sales outlook, demand forecast & up-to-date key trends

Low-Voltage Motor Market By Product Type (IE1, IE2, IE3, IE4), End-User Industries (Food & Beverages, Mining, Automotive, Electronics, Textile, Others) & Region - Forecast 2022 - 2032

Low Voltage Motor Market Overview

Global Low-voltage Motor demand is anticipated to be valued at US$ 39.1 Billion in 2022, forecast to grow at a CAGR of 6.7% to be valued at US$ 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)

US$ 37 Billion

Expected Market Value (2022)

US$ 39.1 Billion

Anticipated Forecast Value (2032)

US$ 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.

Which are Some Prominent Drivers Spearheading Low-voltage Motor Market Growth?

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.

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What are the Challenges Faced by the Low-voltage Motor Industry?

The high cost of producing low-voltage motors is expected to stymie the growth of the low voltage motors industry.

Why is Asia-Pacific Emerging as an Opportunistic Low-voltage Motor Market?

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.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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How is North America Contributing to Growth of the Low-voltage Motor Market?

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.

Market Competition

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.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 6.7% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons 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

Key Segments Profiled in the Low-voltage Motor Industry Survey

Product Type:

  • IE1 Low-Voltage Motors
  • IE2 Low-Voltage Motors
  • IE3 Low-Voltage Motors
  • IE4 Low-Voltage Motors

End-User Industries:

  • Low Voltage Motors for Food & Beverages
  • Low Voltage Motors for Mining
  • Low Voltage Motors for Automotive
  • Low Voltage Motors for Electronics
  • Low Voltage Motors for Textile
  • Low Voltage Motors for Other End User Industries

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

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

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Low Voltage Motor Market