Press release
Top Market Shifts Transforming the Low Voltage Motor Market Landscape: Key Insights
Low Voltage Motor
What Is the Expected CAGR for the Low Voltage Motor Market Through 2025?
In recent times, there has been a significant increase in the size of the low voltage motor market. The market, which was worth $39.82 billion in 2024, is estimated to inflate to $43.28 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. The historical period witnessed this growth primarily due to the setting of international efficiency and safety standards for motors, accelerated industrialization and urbanization in growing markets, initiatives for energy efficiency, growth of telecommunication networks, and the widespread use of household appliances.
What's the Projected Size of the Global Low Voltage Motor Market by 2029?
There is a prediction of robust growth in the low voltage motor market size in the next few years, with a projection of $61.18 billion by 2029 at a compound annual growth rate of 9.0%. The growth in this forecast period is due to factors such as the adoption of customer-centered strategies, infrastructure development endeavors, the rise in regenerative medicine and biotechnology sectors, the application of cybersecurity measures to shield low voltage motor systems, and the use of remote monitoring and predictive maintenance solutions for low voltage motors. Significant trends for the forecast period encompass the use of digital twin technology, creation of smart electrical grids, motor miniaturization, the development of permanent magnet motors, and breakthroughs in motor design technology.
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Top Growth Drivers in the Low Voltage Motor Industry: What's Accelerating the Market?
The proliferation of industrial robots is anticipated to spur the expansion of the low-voltage motor market. These robots, which are programmable machines generally utilized in manufacturing and industrial environments, excel in tasks demanding accuracy, speed, and uniformity. The deployment of such robots is fueled by the desire for greater efficacy, superior quality, increased safety, cost efficiency, adaptability, and technological progression. Low voltage motors allow robots to execute a wide array of tasks with dexterity, precision, and energy conservation, thus making them indispensable in contemporary robotic systems employed in diverse industries and applications. As per the Industrial Robots Statistics 2023 from the International Federation of Robotics, a non-profit organization based in Germany, roughly 404,578 industrial robots were installed in Asia in 2022, marking a 5% rise from the 385,143 units installed in 2021. As such, the surge in automation across different sectors is catalyzing the expansion of the low-voltage motor market.
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Which Fast-Growing Trends Are Poised to Disrupt the Low Voltage Motor Market?
Major firms in the low-voltage motor sector are producing electric motors in response to changing industry requirements. These electric motors are designed to transform electrical energy into mechanical energy. For example, in March 2022, Kirloskar Oil Engines Ltd., a power generating sets company based in India, introduced highly efficient low voltage electric motors. These motors, made with high-quality copper wires, are intended to power machinery across multiple industry applications. They are tested in a test lab accredited by BIS and NABL to guarantee superior performance and efficiency. This debut signifies a substantial progress for KOEL in the electric motor division, bolstering its industry footprint and providing innovative solutions that cater to customer desires.
What Are the Main Segments in the Low Voltage Motor Market?
The low voltage motormarket covered in this report is segmented -
1) By Product Type: International Efficiency 1 (IE1) Low-Voltage Motors, International Efficiency 2 (IE2) Low-Voltage Motors, International Efficiency 3 (IE3) Low-Voltage Motors, International Efficiency 4 (IE4) Low-Voltage Motors
2) By Application: Low Voltage Crushers, Low Voltage Compressors, Low Voltage Extruders, Low Voltage Pumps And Fans, Low Voltage Conveyors
3) By End-User Industries: Food And Beverage, Mining, Automotive, Electronics, Textile, Other End-User Industries
Subsegments:
1) By International Efficiency 1 (IE1) Low-Voltage Motors: Standard Efficiency Motors
2) By International Efficiency 2 (IE2) Low-Voltage Motors: High Efficiency Motors
3) By International Efficiency 3 (IE3) Low-Voltage Motors: Premium Efficiency Motors
4) By International Efficiency 4 (IE4) Low-Voltage Motors: Super Premium Efficiency Motors
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Which Top Companies are Driving Growth in the Low Voltage Motor Market?
Major companies operating in the low voltage motor market are Hitachi Ltd., Siemens AG, General Electric Company, TECO Electric & Machinery Co. Ltd., Mitsubishi Electric Corporation, Schneider Electric, ABB Group, Toshiba International Corporation, Nidec Corporation, Fuji Electric Co. Ltd., WEG S.A., Regal Rexnord Corporation, Johnson Electric Holdings Limited, Wolong Electric Group, HD Hyundai Electric Co. Ltd., Bonfiglioli, Brook Crompton UK Ltd., VEM Group, VYBO Electric, Ruselprom Group, Hoyer Motors
Which Regions Will Dominate the Low Voltage Motor Market Through 2029?
Asia-Pacific was the largest region in the low voltage motor market in 2024. The regions covered in the low voltage motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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