About Low Voltage Motors
The global low voltage motor market is expected to grow in the forecasted period due to the increasing demand for machinery around the world. The Low-voltage motors are used in various end-user industries including food & beverages, mining, electronics, textile, automotive, oil & gas, automotive, and packaging. Low voltage motors control tasks, measure electric current, deliver precision through speed, and also ensure stability and being energy efficient. Stringent motor efficiency legislation, use of smart sensors and retrofits due to aging equipment are the drivers of the global market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Low Voltage Motors market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Low Voltage Motors Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Low Voltage Motors market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Siemens AG (Germany), Toshiba International Corporation (Japan), Rockwell Automation (Allen Bradley) (United States), Ametek Inc. (United States), Regal Beloit (United States), Johnson Electric (Hing Kong), MENZEL Elektromotoren GmbH (Germany), Teco Group (Taiwan) and CG Power and Industrial Solutions Ltd (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are O.M.E. Motori Elettrici s.r.l. (Italy), Franklin Electric (United States) and Worldwide Electric Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Low Voltage Motors market by , Application (Pumps and Compressors, High-Pressure Cleaning, Irrigation System, Water and Wastewater Treatment and Others) and Region.
On the basis of geography, the market of Low Voltage Motors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Level, the sub-segment i.e. IE1 - Standard Efficiency will boost the Low Voltage Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. HVAC Industry will boost the Low Voltage Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Electric Low Voltage Motor in many Sectors and Increasing use of Low Voltage Motor in Wastewater Management
Market Growth Drivers:
Continuous Increasing Demand for Low Voltage Motor in Oil and Gas Industry and Need for Sustainable Environment-Friendly Power Generation with Efficiency and Reliability
Challenges:
Less Capital Investment in New Equipements and The entry of many Local Players in the Market
Restraints:
Stringent Regulatory Guidelines regarding Environmental Effects of Low Voltage Motor and High price Availability of Low Voltage Motors
Opportunities:
Continuous Research and Development of Low Voltage Motor Markey and Increasing Investments for Advancing Technologies
Market Leaders and their expansionary development strategies
In May 2023, Siemens, the multinational conglomerate, witnessed a sharp decline in its stock price following the announcement of its decision to sell and transfer its low voltage motors and geared motors businesses to Siemens Large Drives India, a subsidiary of Siemens AG. This strategic move, effective from October 1st, 2023, involves a cash consideration of Rs 2,200 crore. The low voltage motors and geared motors business accounted for 7 percent of Siemens’ revenue, contributing Rs 1,061 crore in the fiscal year ending September 2022.
In May 2022, ABB India has launched its new range of flameproof (FLP) motors that are safe choice for applications in potentially explosive environments. Manufactured at the company’s Faridabad facility, these low voltage motors offer considerable benefits including low vibration levels with increased reliability for an extended lifetime and reduced maintenance requirements for a lower cost of ownership.
EU MEPS (European Minimum Energy Performance Standard) which was introduced by the EU Commission Regulation regulated mandatory minimum efficincy class for new motors. The standard states four international efficincy and classes for single electric motors rated according to IEC 60034-1 or IEC 60079-0 (explosive atmospheres) and designed for operation on sinusoidal voltage. and The motors which got covered in the standards are from 120 W to 1000kW. All technical constructions of electric motors are covered as long as they are rated for a direct on-line operation which are: Single-speed electric motors (single and three-phase), 50 and 60 Hz, 2, 4, 6 or 8 poles, Rated output PN from 0.12 kW to 1000 kW, Rated voltage UN above 50 V up to 1 kV and some others are also included.
Key Target Audience
Low Voltage Motors Manufactures, Low Voltage Motors International Traders, Low Voltage Motors Distributors and Suppliers, Research and Development Institutes, Regulatory Bodies, Potential Investors, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.