The low voltage motors are extensively being used in several industries such as mining, food & beverages, oil & gas, automotive, packaging, etc., driven by the profuse growth in industrialization and steadily rising demand for energy across the globe. These are the motors that run at voltages less than 1000 V and generate maximum power that aid to improve productivity, quality, and saving energy.
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Various motor efficiency legislation which has been enacted all over the world, are likely to drive the global low voltage motor market during the forecast period. According to these legislations, more expensive and more energy-efficient motors are mandated to manufacturers.
The global low voltage market is forecasted to grow with a single-digit CAGR during the forecast period and is anticipated to hold a strong potential incoming 4-5 years. Most of the manufacturers are now focusing on advanced technology and quality low voltage motors to enhance their production process which in turn had led to the increase in demand for advanced low voltage motors.
Depending on geographic regions, the global low voltage motor market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2014, Asia Pacific dominated the global low voltage motor market owing to the growing consumption of low voltage motors by the automotive and electronics industry, in this region.
In addition, China is the largest country market for low voltage motors in the Asia Pacific and is poised to show strong opportunities for low voltage motors in near future. After Asia Pacific North America is projected to show vigorous growth in the global low voltage motor market, especially due to the increasing demand for low voltage motors in countries like US and Canada, during the forecast period.
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Regional analysis includes
• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• The Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of product type, the global low voltage motor market is segmented into four types
Based on end-use industry the global low voltage motor market is segmented into six types
• Food & Beverages
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Global Low Voltage Motor Market: Drivers & Restraints
With the rise in technological advancement, increasing demand for machinery across the world, and advantages offered by low voltage motors due to their efficient nature, the global low voltage motor market is anticipated to show robust growth during the forecast period. The growing consumption of low voltage motors by end-user industries will continue to drive the growth in the low voltage market over the forecast period.
The report covers exhaustive analysis on:
• Low Voltage Motor Market Segments
• Low Voltage Motor Market Dynamics
• Low Voltage Motor Market Size
• Low Voltage Motor Market Supply & Demand
• Low Voltage Motor Market Current Trends/Issues/Challenges
• Competition & Companies involved
• Low Voltage Motor Technology
• Low Voltage Motor Market Value Chain
In addition, stringent motor efficiency legislation and retrofits due to aging equipment are expected to impact the global low voltage motor market positively.
Some of the major players operating in the global low voltage motor market are ABB, TECO-Westinghouse Motor Company, Siemens, Hyosung Power and Industrial Systems Performance Group, Anhui Wannan Electric Machine, ATB Group, Leroy Somer, LEZ Ruselprom, Luan JiangHuai, NIDEC, Regal Beloit, Shandong Huali Electric Motor Group, GE Industrial, Toshiba International, WEG, VEM Group, etc.