Low voltage motors market globally is expected to foresee a compound annual growth rate (CAGR) of 8.9% from 2021 – 2028. Low voltage motors are energy-efficient motors that operate at less than 1000V and have a maximum power output of 1000 KW. Low voltage motors are more effective and efficient as compared to standard motors. With a low power input, these motors produce standard output. Low voltage motors are known for their positive energy balance, increased productivity and quality, high safety standards, and low energy usage. Low voltage motors are used in a variety of industries, including food and beverage, mining, automotive, and electricity.
The Low voltage motors market can be divided into four categories based on product type: IE1, IE2, IE3, and IE4. Energy-efficient motors are classified as IE1 for standard efficiency, IE2 for high efficiency, IE3 for premium efficiency, and IE4 for super premium efficiency. Low voltage motors of the IE1 type are commonly found in compressors, fans, and pumps. They are more compact and lighter than IE2 and IE3 motors. Motors of the IE2 type are more efficient and produce less waste heat. Inverters, air-handling units, refrigeration facilities, hydraulic power packs, and pumps can all benefit from them. Motors of the IE3 type have a very high efficiency rating.
The worldwide Low voltage motors market is likely to be driven by government energy efficiency legislation on motor-driven systems and a greater focus on the industrial sector. The need for electric motors and the automation of many sectors is increasing as the world's industrialization progresses. As a result, bigger energy-efficient motors are required to reduce the added cost of production. As a result, the global market for Low voltage motors is rapidly expanding.
Furthermore, the Low voltage motors market is being driven by a shift in manufacturers' preferences from low-efficiency motors to energy-saving, high-efficiency motors in accordance with NEMA specifications. Pumps and motors are used in the majority of end-user businesses, such as water treatment plants and water suppliers.
Low voltage motors are divided into four regions: North America, Asia Pacific, Europe, and Rest of the World (RoW) covering the Middle East, South & Central America, and Africa. During the projected period, Asia Pacific is expected to be the most prominent region, followed by North America and Europe. Due to increased demand for Low voltage motors in the automotive and electronics industries in the two countries, emerging economies such as China and India are projected to see development in the Low voltage motors market. The market for Low voltage motors in the United States is predicted to grow in response to a shift toward cleaner energy in the power generation sector, particularly for solar and wind projects.
Some of the most prominent players in the global Low voltage motors market are GE, Regal Beloit, Hyundai Heavy Industries, TECO E&M, Leroy Somer, LEZ Ruselprom, Shangdong Huali, Hyosung Corporation, TOSHIBA, Nidec Corporation, and Fuji Electrics among others.
Scope of Global LoW Voltage Motors Market, 2019 - 2028
LoW Voltage Motors Market By Efficiency Class, 2019 - 2028
LoW Voltage Motors Market By Sector, 2019 - 2028
LoW Voltage Motors Market By Applications, 2019 - 2028
By Geography, 2019 – 2028