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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 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?

Low Voltage Motors Market Size

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?

Low Voltage Motors Market Market segmentation by region

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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?

Low Voltage Motors Market Segmentation

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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.

 

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

$ 4.98 billion

Market structure

Fragmented

YoY growth (%)

3.54

Regional analysis

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

Key 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 recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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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

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Electrical components and equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
  • 3.4 Market outlook: Forecast for 2020 - 2025
    • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
    • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 08: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers
    • Exhibit 09: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers
    • Exhibit 10: Bargaining power of suppliers
  • 4.4 Threat of new entrants
    • Exhibit 11: Threat of new entrants
  • 4.5 Threat of substitutes
    • Exhibit 12: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 13: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by End-user

  • 5.1 Market segments
    • Exhibit 15: End-user - Market share 2020-2025 (%)
  • 5.2 Comparison by End-user
    • Exhibit 16: Comparison by End-user
  • 5.3 Process industries - Market size and forecast 2020-2025
    • Exhibit 17: Process industries - Market size and forecast 2020-2025 ($ million)
    • Exhibit 18: Process industries - Year-over-year growth 2020-2025 (%)
  • 5.4 Discrete industries - Market size and forecast 2020-2025
    • Exhibit 19: Discrete industries - Market size and forecast 2020-2025 ($ million)
    • Exhibit 20: Discrete industries - Year-over-year growth 2020-2025 (%)
  • 5.5 HVAC - Market size and forecast 2020-2025
    • Exhibit 21: HVAC - Market size and forecast 2020-2025 ($ million)
    • Exhibit 22: HVAC - Year-over-year growth 2020-2025 (%)
  • 5.6 Market opportunity by End-user
    • Exhibit 23: Market opportunity by End-user

6 Market Segmentation by Type

  • 6.1 Market segments
    • Exhibit 24: Type - Market share 2020-2025 (%)
  • 6.2 Comparison by Type
    • Exhibit 25: Comparison by Type
  • 6.3 IE2 - Market size and forecast 2020-2025
    • Exhibit 26: IE2 - Market size and forecast 2020-2025 ($ million)
    • Exhibit 27: IE2 - Year-over-year growth 2020-2025 (%)
  • 6.4 IE1 - Market size and forecast 2020-2025
    • Exhibit 28: IE1 - Market size and forecast 2020-2025 ($ million)
    • Exhibit 29: IE1 - Year-over-year growth 2020-2025 (%)
  • 6.5 IE3 - Market size and forecast 2020-2025
    • Exhibit 30: IE3 - Market size and forecast 2020-2025 ($ million)
    • Exhibit 31: IE3 - Year-over-year growth 2020-2025 (%)
  • 6.6 IE4 - Market size and forecast 2020-2025
    • Exhibit 32: IE4 - Market size and forecast 2020-2025 ($ million)
    • Exhibit 33: IE4 - Year-over-year growth 2020-2025 (%)
  • 6.7 Market opportunity by Type
    • Exhibit 34: Market opportunity by Type

7 Customer landscape

8 Geographic Landscape

  • 8.1 Geographic segmentation
    • Exhibit 36: Market share by geography 2020-2025 (%)
  • 8.2 Geographic comparison
    • Exhibit 37: Geographic comparison
  • 8.3 APAC - Market size and forecast 2020-2025
    • Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
    • Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
  • 8.4 North America - Market size and forecast 2020-2025
    • Exhibit 40: North America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 41: North America - Year-over-year growth 2020-2025 (%)
  • 8.5 Europe - Market size and forecast 2020-2025
    • Exhibit 42: Europe - Market size and forecast 2020-2025 ($ million)
    • Exhibit 43: Europe - Year-over-year growth 2020-2025 (%)
  • 8.6 MEA - Market size and forecast 2020-2025
    • Exhibit 44: MEA - Market size and forecast 2020-2025 ($ million)
    • Exhibit 45: MEA - Year-over-year growth 2020-2025 (%)
  • 8.7 South America - Market size and forecast 2020-2025
    • Exhibit 46: South America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 47: South America - Year-over-year growth 2020-2025 (%)
  • 8.8 Key leading countries
    • Exhibit 48: Key leading countries
  • 8.9 Market opportunity by geography

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers
  • 9.2 Market challenges
    • Exhibit 50: Impact of drivers and challenges
  • 9.3 Market trends

10 Vendor Landscape

  • 10.1 Overview
    • Exhibit 51: Vendor landscape
  • 10.2 Landscape disruption
    • Exhibit 52: Landscape disruption
    • Exhibit 53: Industry risks

11 Vendor Analysis

  • 11.1 Vendors covered
    • Exhibit 54: Vendors covered
  • 11.2 Market positioning of vendors
    • Exhibit 55: Market positioning of vendors
  • 11.3 ABB Ltd.
    • Exhibit 56: ABB Ltd. - Overview
    • Exhibit 57: ABB Ltd. - Business segments
    • Exhibit 58: ABB Ltd. - Key offerings
    • Exhibit 59: ABB Ltd. - Segment focus
  • 11.4 General Electric Co.
    • Exhibit 60: General Electric Co. - Overview
    • Exhibit 61: General Electric Co. - Business segments
    • Exhibit 62: General Electric Co. - Key offerings
    • Exhibit 63: General Electric Co. - Segment focus
  • 11.5 Hitachi Ltd.
    • Exhibit 64: Hitachi Ltd. - Overview
    • Exhibit 65: Hitachi Ltd. - Business segments
    • Exhibit 66: Hitachi Ltd. - Key offerings
    • Exhibit 67: Hitachi Ltd. - Segment focus
  • 11.6 Nidec Corp.
    • Exhibit 68: Nidec Corp. - Overview
    • Exhibit 69: Nidec Corp. - Business segments
    • Exhibit 70: Nidec Corp. - Key offerings
    • Exhibit 71: Nidec Corp. - Segment focus
  • 11.7 Regal Beloit Corp.
    • Exhibit 72: Regal Beloit Corp. - Overview
    • Exhibit 73: Regal Beloit Corp. - Business segments
    • Exhibit 74: Regal Beloit Corp. - Key offerings
    • Exhibit 75: Regal Beloit Corp. - Segment focus
  • 11.8 Siemens AG
    • Exhibit 76: Siemens AG - Overview
    • Exhibit 77: Siemens AG - Business segments
    • Exhibit 78: Siemens AG - Key offerings
    • Exhibit 79: Siemens AG - Segment focus
  • 11.9 TECO-Westinghouse
    • Exhibit 80: TECO-Westinghouse - Overview
    • Exhibit 81: TECO-Westinghouse - Product and service
    • Exhibit 82: TECO-Westinghouse - Key offerings
  • 11.10 Toshiba Corp.
    • Exhibit 83: Toshiba Corp. - Overview
    • Exhibit 84: Toshiba Corp. - Business segments
    • Exhibit 85: Toshiba Corp. - Key offerings
    • Exhibit 86: Toshiba Corp. - Segment focus
  • 11.11 WEG Equipamentos Eletricos SA
    • Exhibit 87: WEG Equipamentos Eletricos SA - Overview
    • Exhibit 88: WEG Equipamentos Eletricos SA - Business segments
    • Exhibit 89: WEG Equipamentos Eletricos SA - Key offerings
    • Exhibit 90: WEG Equipamentos Eletricos SA - Segment focus
  • 11.12 Wolong Electric Group
    • Exhibit 91: Wolong ELectric Group - Overview
    • Exhibit 92: Wolong Electric Group - Product and service
    • Exhibit 93: Wolong ELectric Group - Key offerings

12 Appendix

  • 12.1 Scope of the report
  • 12.2 Currency conversion rates for US$
    • Exhibit 94: Currency conversion rates for US$
  • 12.3 Research methodology
    • Exhibit 95: Research Methodology
    • Exhibit 96: Validation techniques employed for market sizing
    • Exhibit 97: Information sources
  • 12.4 List of abbreviations
    • Exhibit 98: List of abbreviations

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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Low Voltage Motors Market market growth will increase by $4.98 bn during 2021-2025.
The low voltage motors market market is expected to grow at a CAGR of 6.81% during 2021-2025.
Technavio has segmented the low voltage motors market market by end-user (process industries, discrete industries, and HVAC) ,type (IE2, IE1, IE3, IE4, and South America) , and geography (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 Equipamentos Eletricos SA, Wolong ELectric Group are a few of the key vendors in the low voltage motors market market.
APAC will register the highest growth rate of 55% among the other regions. Therefore, the low voltage motors market 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 market growth are:
  • Rising focus on increasing energy efficiency of electrical components and equipment
  • Increased adoption of Industrial Internet of Things (IoT) in industrial machinery
The low voltage motors market 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.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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