Global Low Voltage Motors Market was valued at US$ XX Mn. in 2019 and is expected to reach US$ XX Mn. by 2027. Low voltage motors are energy-saving motors that can work at a voltage less than 1000V and can produce the maximum power of 1000KW.
Low voltage motors give a standard output with minimum power input and are 2-8% more efficient than ordinary motors. They have the ability to control tasks, measure electric current, ensure stability and energy efficiency and deliver precision through proper speed. Low voltage motors are susceptible to corrosion and overheating. The report covers the detailed analysis Global Low Voltage Motors Market with the classifications of the market by type, by end-user and by region.
Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players contribution in it. The report has profiled sixteen key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in North America region. Major country’s policies about manufacturing and its impact on Low Voltage Motors applications demand is covered in the report.
Global Low Voltage Motors Market Dynamics-
Stringent government regulations to control CO2 emissions have increased the demand for the Global Low Voltage Motors Market.
The whole value chain, from manufacturer up to end-user, must be aware of the legislation in order to meet local requirements, to save energy, and reduce the carbon footprint. Increasing technological advancement and the growth in demand for various types of machinery from the industrial sector are the factors driving the growth of the Global Low Voltage Motors Market. The need for use of energy efficiently is also a major concern for the industries, which can be lowered by the use of low motor voltage motors. Mandatory Minimum Energy Performance Standards (MEPS) for electric motors have also increased the need for low voltage motors due to the increasing global climate change issues and power consumption. The cost of maintenance and operation of low voltage motors are more as compared to the initial cost, which acts as a restraining factor to the growth of the Global Low Voltage Motors Market.
Global Low Voltage Motors Market Segment analysis-
The report groups the Global Low Voltage Motors Market in different segments by type, by end-user, and by region to forecast the revenues and analyze the market share of each segment over the forecast period. Based on type, the IE2 and IE3 was dominant in 2019 and is expected to command the market share of xx% by 2027. IE2 and IE3 are expected to be dominant product type segments of the low-voltage motors market, due to characteristic features of these types such as flexible terminal box, and corrosion resistance.
IE2 type of motors offer greater efficiency and produce less waste heat. They can be used in inverters, air-handling units, refrigeration plants, hydraulic power packs, and pumps. IE3 type of motors provides an extremely high level of efficiency. An IE3 type of motor uses copper as a conductor instead of aluminum, which helps in reducing rotor losses. IE1 type of low-voltage motors is widely used in applications such as compressors, fans, and pumps. They are smaller and lighter than IE2 and IE3 types of motors. To know about the Research Methodology :- Request Free Sample Report Based on end user, the automotive segment was dominant in 2019 and is expected to command the market share of xx% by 2027. Increasing demand for clean power technologies for transportation and growing concerns about climate change issues are the major factors driving the Global Low Voltage Motors Market. Government regulations and policies to limit the greenhouse gases emission and carbon footprint across the automotive sector will further stimulate the growth of Global Low Voltage Motors Market over the forecast period.
Global Low Voltage Motors Market Regional Insights-
North America is expected to command largest market share of xx% by 2027 The demand for low voltage motors has increased because of the growth of the automotive and electronic sectors in the region. In developing and developed economies in North America, like the US and Canada has increased its power generation capacity, which has driven the need for low voltage motors. Stringent government regulations for motor efficiency have made it necessary for the replacement of conventional high energy-consuming motors with low voltage motors. Because of the increasing use of power and vehicles, the need for energy-efficient equipment has increased, which ultimately has increased the demand for low power voltage motors in the region. The report also helps in understanding the Global Low Voltage Motors Market dynamics, structure by analyzing the Market segments and project the Global Low Voltage Motors Market which gives a clear representation of competitive analysis of key players by price, financial position, Material portfolio, growth strategies, and regional presence in the Global Low Voltage Motors Market make the report investor’s guide.
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Scope of the Global Low Voltage Motors Market- Inquire before buying
Global Low Voltage Motors Market, by type
• IE1 • IE2 • IE3 • IE4
Global Low Voltage Motors Market, by end user
• Automotive • Electronics • Mining • Textile • Others
Global Low Voltage Motors Market, by region
• North America • Europe • Asia Pacific • Middle East & Africa • South America
Key players operating in Global Low Voltage Motors Market
• ABB • TECO-Westinghouse Motor Company • Siemens • Hyosung Power and Industrial Types Performance Group • Anhui Wannan Electric Machine • ATB Group • Leroy Somer • LEZ Ruselprom • Luan JiangHuai • NIDEC • Regal Beloit • Shandong Huali Electric Motor Group • GE Industrial • Toshiba International • WEG • VEM Group
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