Low Voltage Electric Motor Market Trends 2024, Industry Growth Overview, Forecast Report By 2032

IMARC Group’s latest research report, titled “Low Voltage Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” The global low voltage electric motor market size reached US$ 14.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.

Low Voltage Electric Motor Trends :

A low voltage electric motor is a device that converts electrical energy into mechanical energy, typically operating at voltages below 1,000 volts. These motors find widespread use in various applications, ranging from household appliances and automotive systems to industrial machinery. The lower voltage range simplifies their design, installation, and maintenance, making them suitable for diverse settings. Low voltage electric motors come in various types, including induction motors and direct current (DC) motors, each with specific advantages based on application requirements. They play a crucial role in powering essential everyday devices, ensuring efficiency and reliability while contributing to the seamless functioning of numerous electrical systems.

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Leading Players Profiled in this Report:

• ABB
• Siemens
• WEG
• TECO E&M
• Regal Beloit
• Leroy-Somer
• Shandong Huali
• Hyundai Heavy Industries
• Hyosung Corporation
• NIDEC

Global Low Voltage Electric Motor Industry Demand:

The global market is majorly driven by the escalating demand for energy-efficient solutions across industries. In line with this, the growing emphasis on sustainability has propelled the adoption of low voltage electric motors. These motors are designed to optimize energy consumption, aligning with global efforts to reduce carbon footprints and enhance overall energy efficiency. Furthermore, the expanding automation and robotics sectors contribute significantly to the market growth. These motors play a pivotal role in powering the intricate mechanisms of automated systems, enhancing productivity and precision in manufacturing processes. As industries increasingly embrace automation for improved efficiency, the demand for these motors is expected to rise. Moreover, the growing electric vehicle (EV) market is a major driver. The transition to electric propulsion in the automotive sector necessitates using these electric motors, particularly in applications such as power steering, HVAC systems, and auxiliary components. As the automotive industry continues its shift towards electrification, the demand for these motors is set to witness substantial growth. Additionally, ongoing technological advancements, such as the Internet of Things (IoT) and smart manufacturing, contribute to the market's growth. The integration of these motors into smart systems enhances control, monitoring, and diagnostics, aligning with the trend of Industry 4.0.

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Key Market Segmentation:

Breakup By Efficiency:

• Standard Efficiency
• High Efficiency
• Premium Efficiency
• Super Premium Efficiency Motors

Breakup By Application:

• Pumps And Fans
• Compressors
• Other Applications

Breakup By End-use:

• Commercial Hvac
• Food
• Beverage And Tobacco Industry
• Mining Industry
• Utilities
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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