Low Voltage Motors Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43278
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The low voltage motors market has the potential to grow by USD 4.99 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.81%.

This low voltage motors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (process industries, discrete industries, and HVAC), type (IE2, IE1, IE3, and IE4), and geography (APAC, North America, Europe, MEA, and South America). The low voltage motors market report also offers information on several market vendors, including ABB Ltd., General Electric Co., Hitachi Ltd., Nidec Corp., Regal Beloit Corp., Siemens AG, TECO-Westinghouse, Toshiba Corp., WEG Equipamentos Eletricos SA, and Wolong ELectric Group among others.

What will the Low Voltage Motors Market Size be in 2021?

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Low Voltage Motors Market: Key Drivers and Trends

The rising focus on increasing energy efficiency of electrical components and equipment is notably driving the low voltage motors market growth, although factors such as the emergence of low-cost manufacturers in the market may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the low voltage motors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • One of the key factors driving growth in the low voltage motors market is the rising focus on increasing the energy efficiency of electrical components and equipment.
  • Motors and transformers account for a significant share of global electricity consumption in the form of useful output and losses.
  • The cost of electricity declines significantly if an industrial, commercial or residential facility uses energy-efficient electric components and equipment.
  • Inefficient electrical components and equipment are being increasingly replaced by ones that are technologically advanced and energy-efficient.
  • Replacing low-voltage motors that have high power ratings will require significant initial investments which can be recovered from the reduced electricity consumption.
  • The regulatory norms governing the design and implementation of low-voltage motors is another major factor supporting the low voltage motors market share growth.
  • Regulatory authorities worldwide have conceptualized a set standard for manufacturing motors, though the energy and carbon emission limits vary from country to country.
  • Manufacturers are focusing on developing low-voltage motors that simplify the requirements of end-users of all regions.
  • Low-voltage motors ensure reduced carbon emissions and efficient energy-saving, thereby cutting down expenses for end-users.
  • End-users using motors that were not environment-friendly and did not comply with industry standards are switching to eco-friendly low-voltage motors.

This low voltage motors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Low Voltage Motors Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • General Electric Co.
  • Hitachi Ltd.
  • Nidec Corp.
  • Regal Beloit Corp.
  • Siemens AG
  • TECO-Westinghouse
  • Toshiba Corp.
  • WEG Equipamentos Eletricos SA
  • Wolong ELectric Group

 

This statistical study of the low voltage motors market encompasses successful business strategies deployed by the key vendors. The low voltage motors market is fragmented and the vendors are deploying growth strategies such as adopting procedures for manufacturing energy-efficient low voltage motors to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The low voltage motors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Low Voltage Motors Market?

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55% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for low voltage motors in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

Most large and highly populated countries such as China, India, Indonesia, and Bangladesh are developing, and relatively small countries such as Vietnam and Thailand are emerging as industrial hubs. This will facilitate the low voltage motors market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Low Voltage Motors Market?

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The low voltage motors market share growth by the process industries segment will be significant during the forecast period. The global biofuel production capacity is rising, and the demand for motors from biofuel production plants is increasing. The transition of process industries is attracting investments in industrial facilities, which is expected to drive the growth of the segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the low voltage motors market size and actionable market insights on post COVID-19 impact on each segment.

 

Low Voltage Motors Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.81%

Market growth 2021-2025

$ 4.99 billion

Market structure

Fragmented

YoY growth (%)

3.54

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 55%

Key consumer countries

China, US, Japan, Germany, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., General Electric Co., Hitachi Ltd., Nidec Corp., Regal Beloit Corp., Siemens AG, TECO-Westinghouse, Toshiba Corp., WEG Equipamentos Eletricos SA, and Wolong ELectric Group

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Low Voltage Motors Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive low voltage motors market growth during the next five years
  • Precise estimation of the low voltage motors market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the low voltage motors industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of low voltage motors market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The low voltage motors market growth will increase by $3.22 billion during 2019-2024.
The low voltage motors market is expected to grow at a CAGR of 4.58% during 2019-2024.
Technavio has segmented the low voltage motors market by end user (Process industries, Discrete industries, and HVAC) and geographic (APAC, North America, Europe, MEA, and South America).
ABB Ltd., General Electric Co., Hitachi Ltd., Nidec Corp., Regal Beloit Corp., Siemens AG, TECO-Westinghouse, Toshiba Corp., WEG SA, Wolong Electric Group Co. Ltd. are a few of the key vendors in the low voltage motors market.
APAC will register the highest growth rate of 59.32% among the other regions. Therefore, the low voltage motors market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • Germany
  • South Korea (Republic of Korea)
The key factors driving the low voltage motors market growth are:
  • Increasing demand for motors that can provide protection against thermal overload
  • Smarter technology solutions in the overall value chain
The low voltage motors market vendors should focus on grabbing business opportunities from the process industries segment as it accounted for the largest market share in the base year.
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