Low Voltage Motors Trends and Forecast
The future of the global low voltage motors market looks promising with opportunities in the automotive, electronics, mining, and textile markets. The global low voltage motors market is expected to reach an estimated $113.63 billion by 2030 with a CAGR of 6.1% from 2024 to 2030. The major drivers for this market are rising demand for electric vehicles, growing emphasis on improving electrical equipment and component energy efficiency, as well as, energy sector quickly switches from fuel-powered motors to eco-friendly and efficient technologies.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Low Voltage Motors by Segment
The study includes a forecast for the global low voltage motors by type, motor type, end use, and region.
Low Voltage Motors Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• IE1
• IE2
• IE3
• IE4
Low Voltage Motors Market by Motor Type [Shipment Analysis by Value from 2018 to 2030]:
• Induction Motors
• Synchronous Motors
• DC Motors
• Others
Low Voltage Motors Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Automotive
• Electronics
• Mining
• Textile
• Others
Low Voltage Motors Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Low Voltage Motors Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies low voltage motors companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the low voltage motors companies profiled in this report include-
• ABB
• Teco-Westinghouse Motor Company
• Siemens
• Hyosung Power And Industrial Type Performance Group
• Anhui Wannan Electric Machine
• ATB Group
• Leroy Somer
• LEZ Ruselprom
• Luan Jianghuai
• NIDEC
Low Voltage Motors Market Insights
Lucintel forecasts that IE2 is expected to witness largest segment over the forecast period because of its increased effectiveness and reduced waste heat production, and they can be utilized in pumps, air handlers, refrigeration units, inverters, and hydraulic power packs.
Within this market, automotive will remain the largest segment due to growing concern over climate change issues and the increasing need for renewable electricity technology for transportation.
APAC will remain the largest region over the forecast period because of increasing demand across a range of applications for energy-efficient motors, as well as, governmentÄX%$%Xs development of advantageous policies is assisting manufacturers in expanding their market share in developing nations like China, Japan, and India.
Features of the Global Low Voltage Motors Market
Market Size Estimates: Low voltage motors market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Low voltage motors market size by type, motor type, end use, and region in terms of value ($B).
Regional Analysis: Low voltage motors market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, motor type, end use, and regions for the low voltage motors market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the low voltage motors market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the low voltage motors market size?
Answer: The global low voltage motors market is expected to reach an estimated $113.63 billion by 2030.
Q.2 What is the growth forecast for low voltage motors market?
Answer: The global low voltage motors market is expected to grow with a CAGR of 6.1% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the low voltage motors market?
Answer: The major drivers for this market are rising demand for electric vehicles, growing emphasis on improving electrical equipment and component energy efficiency, as well as, energy sector quickly switches from fuel-powered motors to eco-friendly and efficient technologies.
Q4. What are the major segments for low voltage motors market?
Answer: The future of the global low voltage motors market looks promising with opportunities in the automotive, electronics, mining, and textile markets.
Q5. Who are the key low voltage motors market companies?
Answer: Some of the key low voltage motors companies are as follows:
• ABB
• TECO-Westinghouse Motor Company
• Siemens
• Hyosung Power and Industrial Type Performance Group
• Anhui Wannan Electric Machine
• ATB Group
• Leroy Somer
• LEZ Ruselprom
• Luan JiangHuai
• NIDEC
Q6. Which low voltage motors market segment will be the largest in future?
Answer: Lucintel forecasts that IE2 is expected to witness largest segment over the forecast period because of its increased effectiveness and reduced waste heat production, and they can be utilized in pumps, air handlers, refrigeration units, inverters, and hydraulic power packs.
Q7. In low voltage motors market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period because of increasing demand across a range of applications for energy-efficient motors, as well as, governmentÄX%$%Xs development of advantageous policies is assisting manufacturers in expanding their market share in developing nations like China, Japan, and India.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the low voltage motors market by type (IE1, IE2, IE3, and IE4), motor type (induction motors, synchronous motors, dc motors, and others), end use (automotive, electronics, mining, textile, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Low Voltage Motors Market, Low Voltage Motors Market Size, Low Voltage Motors Market Growth, Low Voltage Motors Market Analysis, Low Voltage Motors Market Report, Low Voltage Motors Market Share, Low Voltage Motors Market Trends, Low Voltage Motors Market Forecast, Low Voltage Motors Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.