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

The low voltage motors market share is expected to increase by USD 4.98 billion from 2020 to 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. 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. Furthermore, this report extensively covers low voltage motors 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).

What will the Low Voltage Motors Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Low Voltage Motors Market Size for the Forecast Period and Other Important Statistics

Low Voltage Motors Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. 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 market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Low Voltage Motors Market Driver

One of the key factors driving the low voltage motors market is the rising focus on increasing the energy efficiency of electrical components and equipment. There is an increasing focus on using energy-efficient electrical components and equipment such as motors and transformers. It is mainly because motors and transformers account for a significant share of global electricity consumption in the form of useful output and losses. Therefore, if an industrial, commercial or residential facility uses energy-efficient electric components and equipment, the cost of electricity declines significantly. This is leading to the increasing replacement of inefficient electrical components and equipment with ones that are technologically advanced and energy-efficient. Furthermore, electric motors are prime movers in industries as they convert electric energy into mechanical energy. Electric motors account for a large share of the total power consumption of industries. For instance, approximately 30% of the global electricity produced is consumed by industrial motors. Therefore, an improvement in the energy efficiency of industrial motors or the replacement of highly efficient low voltage motors will result in reducing the consumption of electricity by industries.

Key Low Voltage Motors Market Trend

Increased adoption of the Industrial Internet of Things (IoT) in industrial machinery is another factor supporting the low voltage motors market growth in the forecast period. A large number of industrial machinery such as compressors, motors, pumps, industrial robots, and machine tools are being introduced with IoT features. It allows industrial machinery to transmit critical operating parameters such as temperature, pressure, stress; and health and performance parameters of the machine over Internet Protocol (IP) to a control room or device. Such data helps to increase the efficiency, lifespan, and process safety of industrial machinery and reduce its downtime. Furthermore, low voltage motors are usually mission-critical equipment in industrial facilities or utility systems. Such motors usually have compressors, pumps, blowers, fans, or conveyors. Furthermore, a drive component, including a motor, is subject to stress and wear. The stress or wear cannot be monitored continuously by operators. Therefore, they could cause motor failures and unanticipated financial losses. For such reasons, the vendors offer motor condition monitoring systems that continuously monitor critical parameters of motors through IIoT technology. Such systems help operators or the concerned personnel to detect a developing problem in the early stage and plan a maintenance schedule. Therefore, such systems help avoid unplanned downtime and increase uptime.

Key Low Voltage Motors Market Challenge

The emergence of low-cost manufacturers in the market will be a major challenge for the low voltage motors market during the forecast period. The competitors of low-voltage motors are spread across the world, offering several types of motors. The market is divided into internationally known and reputed vendors and regional competitors. While the major vendors provide users with the latest technologies and ways to reduce their energy and carbon consumption, regional vendors offer price-effective low-voltage motors. In markets such as APAC, end-users do not usually differentiate between product offerings significantly, and the low-cost factor drives them to buy low-voltage motors from particular vendors. As a result, the global vendors of low-voltage motors face intense competition. Therefore, they lower their prices to cater to the demand. Though the product offerings from the major vendors remain effective in cutting the cost of operations and achieving optimality in the processes, regional players are growing due to factors of improved network and reachability in the domestic market.

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.

Parent Market Analysis

Technavio categorizes the global low voltage motors market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the low voltage motors market during the forecast period.

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 energy efficiency and price, quality, and services to compete in the market.

Product Insights and News

• ABB Ltd. - The company offers IEC low voltage motors such as ABB IE5 SynRM and drivers.
• Hitachi Ltd. - The company offers low voltage motors which can be used for larger deep wells.

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.

Low Voltage Motors Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the low voltage motors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global electrical components and equipment market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers providers to ensure a sustainable market presence.

Which are the Key Regions for Low Voltage Motors Market?

For more insights on the market share of various regions Request a FREE sample now!

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

Increasing investments in various end-user industries 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.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 negatively impacted the regional low voltage motors market and resulted in supply chain disruptions and the closure of manufacturing units. This, in turn, led to a decline in the sales of the low voltage motors. However, following the vaccination drives, the reopening of manufacturing units and the restoration of supply chains from Q3 2021 is estimated to drive the growth of the regional market during the forecast period. End-user industries, such as food and beverage, water and wastewater, cement, metals and mining, HVAC, textiles, rubber, and others, will benefit from the new line, which will develop energy-efficient motors up to 55kW. The small design of ABB's LV motors will help to reduce space and the total cost of ownership. ABB's LV motors will also enable operations of essential processes with minimal downtime by providing greater flexibility to meet unique customer requirements. This shows that the market in focus is getting back on track and will grow during the forecast period.

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

To gain further insights on the market contribution of various segments Request a FREE sample

The low voltage motors market share growth by the segments. Process industries segment will be significant during the forecast period. Process performance motors offer a lot of flexibility for customer-specific solutions and can be custom-designed to match the applications? requirements. Various technologies are required to deliver the best high-efficiency motor solutions over the low-voltage motor power spectrum.

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 the post-COVID-19 impact on each segment.

Request for a FREE sample

What are the Key Data 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

We can help! Our analysts can customize this report to meet your requirements. Get in touch