What Has Been the Growth of the Low Voltage Motor Market So Far?
The low voltage motor market has seen considerable growth due to a variety of factors.
• The low voltage motor market has expanded rapidly in recent years. It will rise from $39.82 billion in 2024 to $43.95 billion in 2025, growing at a CAGR of 10.4%.
The growth is fueled by the establishment of international motor efficiency and safety standards, rapid industrialization and urbanization in emerging markets, energy efficiency programs, expansion of telecommunications networks, and the growth in household appliance usage.
What Are the Future Growth Projections for the Low Voltage Motor Market?
The low voltage motor market is expected to maintain its strong growth trajectory in upcoming years.
• The low voltage motor market is expected to grow rapidly, reaching $64.35 billion by 2029 with a CAGR of 10.0%.
The growth is driven by customer-centric approaches, infrastructure projects, regenerative medicine and biotech advancements, cybersecurity measures for low voltage motor systems, and the adoption of remote monitoring and predictive maintenance. Trends include digital twin technology, intelligent electrical grids, miniaturized motors, permanent magnet motors, and innovations in motor design.
What Are The Core Factors Supporting Growth In The Low Voltage Motor Market?
The increasing adoption of industrial robots is expected to fuel the growth of the low-voltage motor market. Industrial robots are used in manufacturing to perform tasks that require precision, speed, and consistency. The adoption of these robots is driven by the need for improved efficiency, quality, safety, cost savings, and technological advancements. Low voltage motors in robots provide agility, accuracy, and energy efficiency. For example, the International Federation of Robotics reported that around 404,578 industrial robots were installed in Asia in 2022, marking a 5% increase from 2021. The growing automation in various industries is expected to drive the low-voltage motor market.
What Are The Major Segments Within The Global Low Voltage Motor Market?
The low voltage motor market covered in this report is segmented –
1) By Product Type: International Efficiency 1 (IE1) Low-Voltage Motors, International Efficiency 2 (IE2) Low-Voltage Motors, International Efficiency 3 (IE3) Low-Voltage Motors, International Efficiency 4 (IE4) Low-Voltage Motors
2) By Application: Low Voltage Crushers, Low Voltage Compressors, Low Voltage Extruders, Low Voltage Pumps And Fans, Low Voltage Conveyors
3) By End-User Industries: Food And Beverage, Mining, Automotive, Electronics, Textile, Other End-User Industries
Subsegments:
1) By International Efficiency 1 (IE1) Low-Voltage Motors: Standard Efficiency Motors
2) By International Efficiency 2 (IE2) Low-Voltage Motors: High Efficiency Motors
3) By International Efficiency 3 (IE3) Low-Voltage Motors: Premium Efficiency Motors
4) By International Efficiency 4 (IE4) Low-Voltage Motors: Super Premium Efficiency Motors
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What Emerging Trends Are Influencing The Growth Of The Low Voltage Motor Market?
Major firms in the low-voltage motor industry are innovating electric motors to cater to dynamic sector needs. The expression electric motors pertains to apparatus that transform electrical energy into mechanical energy. As an illustration, in March 2022, Kirloskar Oil Engines Ltd., a corporation originating from India that manufactures power-generating sets, introduced high-efficiency low voltage electric motors custom-made to energize machines for diverse industry applications. These motors are crafted using superior-quality copper wires and are validated by a BIS-endorsed, NABL-accredited examination lab to ascertain exceptional performance and effectiveness. The unveiling represents a noteworthy advance for KOEL in the electric motor division, bolstering its industry position and launching creative products that satisfy client requirements.
Who Are the Key Players In The Low Voltage Motor Market?
Major companies operating in the low voltage motor market are:
• Hitachi Ltd.
• Siemens AG
• General Electric Company
• TECO Electric & Machinery Co. Ltd.
• Mitsubishi Electric Corporation
• Schneider Electric
• ABB Group
• Toshiba International Corporation
• Nidec Corporation
• Fuji Electric Co. Ltd.
• WEG S.A.
• Regal Rexnord Corporation
• Johnson Electric Holdings Limited
• Wolong Electric Group
• HD Hyundai Electric Co. Ltd.
• Bonfiglioli
• Brook Crompton UK Ltd.
• VEM Group
• VYBO Electric
• Ruselprom Group
• Hoyer Motors
What Is The Most Dominant Region In The Low Voltage Motor Market?
Asia-Pacific was the largest region in the low voltage motor market in 2024. The regions covered in the low voltage motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
