Low Voltage Motor Market 2021 Overview, in-Depth Analysis, Forecasts, Applications, Shares & Insights 2031 | ABB, Siemens, TECO-Westinghouse Motor Company, Hyosung Power, ATB Group

According to a new market research report published by Global Insight Services "Low Voltage Motor Market" is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

A low voltage motor is an electric motor that runs on a lower voltage than what is standard in the electrical grid. The standard voltage in most of the world is 230 volts, but some countries use different voltages. In the United States, the standard voltage is 120 volts. Low voltage motors are used in a variety of applications, such as powering small appliances and tools.

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Low voltage motors are typically less expensive than high voltage motors, making them a popular choice for budget-conscious consumers. They also tend to be more efficient, meaning they use less energy to run. Low voltage motors also tend to be smaller and lighter than high voltage motors, making them easier to transport and install.

Key Trends
Some of the key trends in low voltage motor technology include the development of more efficient and powerful motors, the use of alternative materials to reduce weight and improve performance, and the integration of advanced control systems to improve accuracy and speed. Additionally, manufacturers are increasingly focused on developing custom solutions for specific applications, which has led to the rise of modular and scalable motor designs.

Key Drivers
The key drivers of the Low Voltage Motor market are:

1. Increasing demand for energy efficient motors: The increasing awareness about the need to conserve energy is driving the demand for energy-efficient low voltage motors. These motors offer significant energy savings as compared to traditional motors, and this is fuelling their adoption in various end-use industries.

2. Stringent government regulations: Government regulations related to energy efficiency are also driving the adoption of low voltage motors. These regulations are mandating the use of energy efficient motors in various industries, which is fuelling the growth of the low voltage motor market.

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Market Segments
The low voltage motor market bifurcated on the basis of product, end-user, and region. On the basis of product, it is segmented into IE1, IE2, IE3, and IE4. By end-user, it is analyzed across food & beverages, mining, automotive, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.

Key Players
The low voltage motor market report includes players such as ABB, Siemens, TECO-Westinghouse Motor Company, Hyosung Power, ATB Group, LEZ Ruselprom, WEG, NIDEC, Regal Beloit, and VEM Group.

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This release was published on openPR.