Low-voltage Motors Market - Global Industry Analysis, Size, Share 2024 | Research Report

Low-voltage motors are energy-saving motors that can work at a voltage less than 1000V and can produce the maximum power of 1000 KW. Low-voltage motors are more effective and 2% to 8% more efficient than ordinary motors. These motors give a standard output with minimum power input. They are manufactured according to standard efficiency levels as listed by the National Electric Manufacturers Association (NEMA).

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Positive energy balance, improved productivity and quality, high safety standards, and low energy consumption are some of the characteristic features of low-voltage motors. Low-voltage motors are employed in various end-user industries such as food & beverages, mining, automotive, electronics, textile, oil & gas, automotive, and packaging. Low-voltage motors are widely installed in various appliances such as air-handling units, lifts, fans, compressors, pumps, and chillers.

Based on the product type, the low-voltage motors market can be segmented into IE1, IE2, IE3, and IE4. IE1 stands for the standard efficiency class of energy-efficient motors, IE2 for high efficiency, IE3 for premium efficiency, and IE4 for super premium efficiency. IE1 type of low-voltage motors are widely used in applications such as compressors, fans, and pumps. They are smaller and lighter than IE2 and IE3 types of motors.

IE2 type of motors offer greater efficiency and produce less waste heat. Thus, they can be used in inverters, air-handling units, refrigeration plants, hydraulic power packs, and pumps. IE3 type of motors provide extremely high level of efficiency. An IE3 type of motor uses copper as a conductor instead of aluminium, which helps in reducing rotor losses. IE2 and IE3 are expected to be dominant product segments of the low-voltage motors market, due to characteristic features of these types such as flexible terminal box, and corrosion resistance. IE4 type of motors consume less energy as compared to other types of motors and the segment is expected to expand at a significant rate in the near future.

Energy efficiency legislations on motor-driven systems by the government and an increased focus on the industrial sector are expected to be prime driver for the global low-voltage motors market. Rising industrialization across the globe is boosting the demand for electric motors as well as the automation of various industries. Therefore, there is a need for large energy-efficient motors for minimizing the additional cost of production. Due to this, the global low-voltage motors market is experiencing rapid growth. Furthermore, shift in manufacturers’ preference from low-efficiency motors to energy-saving, high-efficiency motors as per the NEMA guidelines is driving the low-voltage motors market. Most of the operations in end-user industries such as water treatment plants and water supplies involve pumps and motors.

Conventional motors account for almost 65% to 70% of the energy cost. Low-voltage motors help in curbing the additional energy cost involved in the production process. They also provide vital benefits such as more tolerance due to phase imbalance and overload conditions, low heat output, long bearing life, and better insulation. These characteristic features are expected to drive the low-voltage motors market in the next few years. However, production of low-voltage motors involves high cost, which may restrain the market. Still, the frequent amendments made by NEMA are opening new avenues for the low-voltage motors market.

In terms of region, the market for low-voltage motors has been segmented into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to be a dominant region, followed by North America and Europe during the forecast period. Emerging economies such as China and India are expected to witness growth of the low-voltage motors market, due to the rising demand for low-voltage motors in automotive and electronics industries in the two countries. Inclination toward cleaner energy in the power generation sector is expected to boost the low-voltage motors market in the U.S., particularly for solar and wind projects.

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Furthermore, stringent regulations regarding motor efficiency and retrofitting of aging equipment are factors likely to increase the demand for low-voltage motors during the forecast period. IE2 and IE3 types of motors have been widely adopted in the U.S., Canada, Australia, New Zealand, and Europe. Continued investment in the public utility sector for upgrading the equipment and increased attention on the equipment efficiency have promoted the low-voltage motors market in Middle East & Africa. Mergers, acquisitions, and partnerships are also creating opportunities for manufacturers and suppliers of low-voltage motors to withstand the competitive pressure and meet the rising demand of end-users for energy-efficient motors.

Some of the major players operating in the global low-voltage motors market are ABB, Siemens, TECO-Westinghouse Motor Company, and Hyosung Power & Industrial Systems Performance.

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