Low Voltage Motors Market Share Estimated to Reach USD 66.15 Billion by 2030

The Low Voltage Motors Market Share is anticipated to grow to USD 66.15 Bn by 2030, at a percentage CAGR of 6.8% over the forecast period. The increased industrial automation coupled up with the growing energy efficiency regulations in the sectors mainly contributes to this growth.



Key Factors Driving Market Growth and Opportunities

The sudden demand from the industry automation sector has fueled the low voltage motors market as these are considered an integral tool for improving operational efficiency and productivity across various manufacturing processes. Advanced motor control systems are being integrated into various industries across the globe for performance upgrade and energy consumption reduction. Furthermore, rising energy efficiency standards enforced by several countries to reduce carbon emissions is also spurring industries to opt for energy-efficient low voltage motors. This stringency leads to the adherence of international standards preserving the environment while investors are also offered with attractive opportunities to innovate and expand their product portfolios in the market.

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Segmentation Analysis

The low voltage motors market can be segmented from the basis of type and end-user industries.

Based on type: The market is segmented on the basis of type into various efficiency classes which comprise of IE1, IE2, IE3 and IE4 motors. Among them, IE2 motor and IE3 motor was the most used motor on the market in 2023, driven by their compliant to international energy efficiency standards and widespread use in industrial sector. IE4 motors are emerging, due to their increased efficiency and as industries continue their quest for greater energy savings.

By End-User: The various end-user segments where low voltage motors are used include food & beverage, HVAC, water & wastewater management, mining, and automotive. These motors are used in processing and packaging applications by the food and beverage sector, while they are used in heating and cooling systems in the HVAC industry. Low voltage motors are used in water and wastewater treatment facilities for pumping and filtration processes, and in the mining industry for material handling and extraction operations.

Country-Level Analysis

In The United States, a strengthening global economy has resulted in high adoption of industrial automation together with presence of major market players are the factors that are expected to propel growth of industrial automation market. The demand for advanced low voltage motors is further boosted by government initiatives for promoting energy efficiency.

Germany: A pioneer of engineering and manufacturing excellence, where maximization of energy efficiency is a guiding principle. Such strict regulations and sustainability factor in the country sought for the growth of the highefficiency low voltage motors in different industries.

China: The huge industrial base and infrastructure development projects of China has added to the tremendous demand for low voltage motors. Increased adoption of efficient motor solutions is also in line with the government developing policies to conserve energy and reduce emissions.

Japan is home to the advanced automation and robotics market, where low voltage motors are part of the automation sector. Market growth is supported by the country's programs for smart manufacturing and energy efficiency.

India: Low voltage motors are extensively utilized across various sectors such as automotive, textiles, and infrastructure as a result of increasing industrialization and urbanization in the country. The market development potential is further supported by government policies based on the system-enhancing energy-efficient technologies.

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Competitive Analysis

The low voltage motors market contain so many numbers of forces which driving the market towards the positive direction by making innovations in products or by bringing new strategic initiatives into the market. Notable companies include:

ABB boosts manufacturing capacity for energy-efficient low voltage motors to meet rising regional and global demand with expansion of its Faridabad facility.

Siemens — The German engineering giant in March 2021 confirmed the acquisition of C&S Electric in an effort to set up an export hub for low-voltage products and expand global foothold.

TECO-Westinghouse Motor Company: Known for its range of low voltage motors for industrial applications.

Hyosung Power & Industrial Systems Performance Group: Provides a line of low voltage motors engineered to achieve maximum efficiency and performance.

Nidec Corporation: A major player delivering low voltage motor solutions in diverse sectors.

These firms are prioritizing research & development, making strategic acquisitions, and increasing their production capacities to cater to the shifting demands in the market.

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Conclusion

The low voltage motors market is one of the major growing markets globally, driven by the rising trend of industrial automation and energy efficiency. The demand for advanced low voltage motors is anticipated to grow as industries globally continue seeking operational performance improvement and compliance with environmental standards. Market players are positioned to leverage these trends through ongoing innovation and platform expansion dynamics.

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