Press release
Low Voltage Motor Market Growth Driven by Industrial Automation Demand
Data Bridge Market Research analyses that the Global Low Voltage Motor Market which was USD 39.1 Billion in 2023 is expected to reach USD 119.61 Billion by 2031 and is expected to undergo a CAGR of 15.00% during the forecast period of 2023 to 2031
Explore Further Details about This Research Low Voltage Motor Market Share Report https://www.databridgemarketresearch.com/reports/global-low-voltage-motor-market
**Segments**
- Type: The low voltage motor market can be segmented by type into AC motors and DC motors. AC motors are anticipated to dominate the market due to their widespread use in various applications such as industrial machinery, HVAC systems, and pumps, among others.
- Application: Based on application, the market can be categorized into industrial machinery, HVAC, automotive, consumer electronics, and others. The industrial machinery segment holds a significant market share owing to the growing industrial sector worldwide.
- End-User: Low voltage motors find application across various end-user industries like automotive, manufacturing, energy, infrastructure, and others. The automotive industry is a key end-user of low voltage motors for various applications in electric vehicles, HVAC systems, and power windows, among others.
**Market Players**
- ABB
- Siemens
- WEG
- Danaher Motion
- Nidec Corporation
- Toshiba International Corporation
- Regal Beloit Corporation
- Rockwell Automation
- Bosch Rexroth AG
- Emerson Electric Co.
The global low voltage motor market is witnessing growth due to increasing industrialization, urbanization, and automation across various industries. The demand for energy-efficient motors along with stringent regulations regarding energy consumption is propelling the market growth. AC motors are extensively used in industrial applications due to their efficiency and reliability. The industrial machinery segment accounts for a significant share of the market as low voltage motors are widely used in industrial manufacturing processes. The automotive industry is also a key end-user of low voltage motors, especially in electric vehicles and various automotive applications.
Key market players such as ABB, Siemens, and WEG are investing in research and development activities to introduce innovative low voltage motors with advanced features and higher efficiency. Strategic partnerships, acquisitions, and collaborations are common strategies adopted by these companies to strengthen their market presence and expand their product portfolios. Technological advancements such as the development of smart motors and the integration of IoT in motor systems are driving market growth.
The Asia Pacific region is poised to witness significant growth in the low voltage motor market due to rapid industrialization and urbanization in countries like China, India, and Japan. The increasing focus on energy efficiency and the adoption of sustainable manufacturing practices in these emerging economies are driving the demand for low voltage motors. The automotive industry in the region is experiencing a shift towards electric vehicles, leading to a surge in the demand for low voltage motors for various electric vehicle components. Additionally, the expanding infrastructure sector in countries like India is creating opportunities for the deployment of low voltage motors in construction equipment and building systems.
In terms of market players operating in the Asia Pacific region, local manufacturers are also becoming prominent alongside established global players. Local companies are focusing on offering cost-effective solutions to cater to the growing demand for low voltage motors in diverse applications. Strategic collaborations between global and local players are expected to strengthen the supply chain and distribution network, thereby expanding the market reach of low voltage motors in the region. Moreover, government initiatives promoting sustainable manufacturing practices and energy efficiency are likely to boost the adoption of energy-efficient low voltage motors in various industries across the Asia Pacific region.
The increasing investments in infrastructure development projects, coupled with the rising automation trends in industries such as manufacturing and automotive, are driving the demand for low voltage motors in the Asia Pacific region. The shift towards smart manufacturing and Industry 4.0 initiatives is further propelling the adoption of advanced low voltage motors with features like remote monitoring and predictive maintenance capabilities. Moreover, the stringent regulatory environment focusing on reducing carbon emissions and enhancing energy efficiency is encouraging industries to invest in energy-efficient motor solutions in the Asia Pacific region.
Overall, the Asia Pacific low voltage motor market is poised for substantial growth driven by factors such as rapid industrialization, technological advancements, and the shift towards energy-efficient solutions. With the presence of key market players and the emphasis on sustainable practices, the region is expected to emerge as a significant hub for low voltage motor manufacturing and innovation in the coming years.**Market Players**
- ABB (Switzerland)
- GE Power Conversion (U.S.)
- Hyosung Corporation (South Korea)
- Hyundai Heavy Industries Co., Ltd (South Korea)
- Nidec Corporation (Japan)
- Siemens AG (Germany)
- TECO-Westinghouse (Taiwan)
- Toshiba Corp. (Japan)
- WEG Equipamentos Eletricos SA (Brazil)
- Wolong Electric Group (China)
The Asia Pacific low voltage motor market is experiencing significant growth driven by factors such as rapid industrialization, urbanization, and the transition towards energy-efficient solutions. Market players in the region, both local and global, are strategically positioned to capitalize on this growth trajectory. Key companies such as ABB, Siemens, Nidec Corporation, and WEG are actively involved in research and development initiatives to introduce innovative low voltage motors tailored to meet the evolving market demands in the Asia Pacific region. The presence of established manufacturers, along with emerging local players like Hyosung Corporation and Wolong Electric Group, contributes to a competitive landscape fostering innovation and development in low voltage motor technologies.
Government initiatives promoting sustainable manufacturing practices and energy efficiency are pivotal in shaping the market landscape in the region. Policies aimed at reducing carbon emissions and enhancing energy efficiency are driving industries to invest in energy-efficient solutions, including low voltage motors. The emphasis on smart manufacturing and Industry 4.0 initiatives is fueling the adoption of advanced motor technologies with features such as IoT integration, remote monitoring.
Table Of Content
1 Introduction
1.1 Objectives Of The Study
1.2 Low Voltage Motor Market Definition
1.3 Overview
1.4 Limitations
1.5 Markets Covered
2 Low Voltage Motor Market Segmentation
2.1 Low Voltage Motor Market Covered
2.2 Geographical Scope
2.3 Years Considered For The Study
2.4 Currency And Pricing
2.5 Dbmr Tripod Data Validation Model
2.6 Multivariate Modeling
2.7 Primary Interviews With Key Opinion Leaders
2.8 Dbmr Low Voltage Motor Market Position Grid
2.9 Dbmr Vendor Share Analysis
2.1 Secondary Sources
2.11 Assumptions
3 Executive Summary.............
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