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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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Low-voltage electric motors refer to motors which utilise voltage less than 1000V. The main characteristics of these motors include improved quality and productivity, positive energy balance and high safety standards. Owing to this, low-voltage electric motors are installed in lifts, compressors, fans, chillers, air-handling units and pumps. In addition, they find applications in diverse industries such as food and beverage, automotive, packaging, mining, oil and gas, etc.
Increasing industrialization across the globe is fuelling the growth of the automation industry. This has created a huge demand for low-voltage electric motors so as to minimize the additional cost of production. Moreover, a shift in consumer preference from low-efficiency motors to high-efficiency and energy-saving motors has propelled the demand for low-voltage motors. Further, a surge in construction and renovation of residential spaces worldwide is expected to influence the market growth in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global low voltage electric motor market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on efficiency, end-use industry and application.
Breakup by Efficiency:
Based on efficiency, the market has been segmented into standard, high, premium and super premium efficiency. Currently, high efficiency low-voltage electric motors dominate the market, holding the largest share.
Breakup by End-Use Industry:
On the basis of end-use industry, commercial HVAC represents the largest segment, followed by food, beverage and tobacco industry, mining industry, and utilities.
Breakup by Application:
The market has also been segregated on the basis of application into pumps and fans, and compressors. Amongst these, pumps and fans hold the majority of the total market.
Breakup by Region:
Region-wise, Europe, Middle East and Africa is the leading market, accounting for the largest share globally. Other major markets include North and South America, and China.
The competitive landscape of the market has also been examined with some of the key players being ABB, Siemens, WEG, TECO E&M, Regal Beloit, Leroy-Somer, Shandong Huali, Hyundai Heavy Industries, Hyosung Corporation and NIDEC.
This report provides a deep insight into the global low-voltage electric motor industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a low-voltage electric motor manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the low-voltage electric motor industry in any manner.
|Base Year of the Analysis||2021|
|Segment Coverage||Efficiency, End-Use Industry, Application, Region|
|Region Covered||North and South America, Europe, Middle East and Africa, China, Others|
|Companies Covered||ABB, Siemens, WEG, TECO E&M, Regal Beloit, Leroy-Somer, Shandong Huali, Hyundai Heavy Industries, Hyosung Corporation and NIDEC|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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