Assurance of stability, precision, energy efficiency, and countering load variability are the major factors for the high growth of the global low voltage motors market in the respective forecasted period. The effectiveness and efficiency of low voltage motors are considered to be more than ordinary motors by 2% to 8%. High safety standards, improved productivity, and lower energy consumption is characteristically associated with low voltage motors which are applied in various end-user industries including mining automotive, packaging, electronics, and food & beverages, among others.
The global low voltage motors market is segmented based on the type of efficiency class, application, capacity, and geography. By type of efficiency class, the global low voltage motors market is bifurcated into IE 1 low voltage motors, IE 2 low voltage motors, IE 3 low voltage motors, IE 4 low voltage motors, DC low voltage motors, and other low voltage motors. By sector, the global market of low voltage motors market is divided into commercial HVAC low voltage motors, F & B manufacturing low voltage motors, mining low voltage motors, utilities low voltage motors, and other sectors low voltage motors. Moreover, by application, the global market is further segmented into low voltage compressors, low voltage pumps & fans, low voltage conveyors, low voltage crushers, low voltage extruders, and other applications. By capacity, the market is divided into 0.75 - 2.1 KW low voltage motors, 7.4 KW low voltage motors, 7.5 - 45 KW low voltage motors, 46 - 75 KW low voltage motors, 76 - 110 KW low voltage motors, 111 - 375 KW low voltage motors and > 375 KW low voltage motors, among others.
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The global low voltage motors market is segmented into North America, Europe, APAC, and RoW. North America is further bifurcated into the U.S, Canada, and Mexico. Europe includes the U.K, Germany, Italy, France, Spain, and others. APAC is fragmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. Moreover, the market of the rest of the World is segmented into South America and Central America, The Middle East, and Africa. In the contemporary global low voltage motors market, APAC is leading and dominating the global low voltage motors market followed by North America, Europe, and the Rest of the World. The growing consumption of low voltage motors by the automotive and electronics industry and automation up-gradation is the major reasons associated with the high growth rate in the region of Asia – Pacific. Further, China is considered as the major country market followed by India, South Korea, and Japan, considering the market of APAC. The market of North America is also projected to grow in the coming years owing to the increasing demand for low voltage motors in countries like the US and Canada, during the forecast period of 2021 to 2028.
Companies associated with the low voltage motors market are expecting a high growth considering the favoring factors and the key players operating in the global low voltage motors market are ABB, TECO-Westinghouse Motor Company, Siemens, Hyosung Power and Industrial Systems Performance Group, Anhui Wannan Electric Machine, ATB Group, LHeroy Somer, LEZ Ruselprom, Luan JiangHuai, NIDEC, Regal Beloit, Shandong Huali Electric Motor Group, GE Industrial, Toshiba International, WEG and VEM Group, among others.
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