Low Voltage Electric Motor Market Overview:
IMARC Group’s latest research report, titled “Low Voltage Electric Motor Market Outlook 2022: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast Till 2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global low voltage electric motor market reached a value of US$ 13.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.8 Billion by 2027, exhibiting a CAGR of 4.9% during 2022-2027. Low-voltage electric motors refer to squirrel-cage motors that run at voltages less than 1000V and generate maximum power, thereby resulting in improved productivity. They operate in a three-phase power supply, while offering a positive energy balance with high safety standards. Thus, they are widely used in elevators, compressors, fans, pumps, and air-handling units, and packaging and food and beverage industry applications.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by Efficiency, Application, End-use.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Low Voltage Electric Motor Market
- Strategies of major players and product offerings
Global Industry Trends:
The global low-voltage electric motors market is primarily driven by the paradigm shift in consumer preference to high-efficiency, energy-saving motors from low-efficiency motors. Also, the increasing adoption of low-voltage motors in end-use industries to minimize additional costs is for production positively impacting this overall market growth. In addition to this, the rise IN continual technological advancements and the , increasing demand for machinery and retrofitting , and advantages offered by low voltage motors are also leading to the widespread adoption of these motors. Some of the other factors contributing to the market growth include, such as rapid urbanization, industrialization, the rising and increasing number of construction and infrastructural development projects, are also driving the global market and extensive research and development (R&D) activities conducted by key players.
Key Players Included in Global Low Voltage Electric Motor Market Research Report:
- ABB
- Siemens
- WEG
- TECO E&M
- Regal Beloit
- Leroy-Somer
- Shandong Huali
- Hyundai Heavy Industries
- Hyosung Corporation
- NIDEC
COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup By Efficiency:
- Standard Efficiency
- High Efficiency
- Premium Efficiency
- Super Premium Efficiency Motors
Based on efficiency, the low voltage electric motor market is segmented as standard efficiency, high efficiency, premium efficiency and super premium efficiency motors. Amongst these, high efficiency low-voltage electric motors exhibit a clear dominance in the market.
Breakup By Application:
- Pumps And Fans
- Compressors
- Other Applications
On the basis of application, the market has been segregated as pumps and fans, compressors, and other applications. Currently, pumps and fans account for the majority of the total market share.
Breakup By End-use:
- Commercial Hvac
- Food
- Beverage And Tobacco Industry
- Mining Industry
- Utilities
- Others
Based on end-use industry, the report finds that commercial HVAC currently represents the largest end-use segment of low voltage electric motor. It is followed by food, beverage and tobacco industry, mining industry, utilities and others.
Breakup By Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East And Africa
TOC for the Low Voltage Electric Motor Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Low Voltage Electric Motor Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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