In order to dissert the market scenario prevailing across the low voltage motor market sector, FactMR has evenly presented a new examination titled "Low Voltage Motors Market to Witness Steady Expansion During 2017 to 2022 | Key Market Players are TOSHIBA, Nidec Corporation, Regal Beloit, etc.", to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the low voltage motor market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable. The report commences with a brief information of the global keyword market.
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In order to cater to the growing demand for consumer and capital goods, manufacturers are adopting advanced technology for fast production. Several manufacturers are integrating low voltage motors with smart sensors to speed up the production rate as it enables end users to record the regular and accurate measurement of the motor’s key condition parameters. For example, ABB, a leading player in the low voltage motors market, launched a new low voltage motor equipped with smart sensor, which is designed to pick up signals from the low voltage motors that helps in recording accurate and regular measurements of the motor.
Manufacturers operating in several industries are converting regular low voltage motors to connected and intelligent machines, which enables users to analyse the actual needs rather than on the basis of operating hours and time intervals during the production process. Equipped with smart technology, the low voltage motors enables manufacturers to make predictive analysis based on the data acquired, which can help in reducing the downtime by 70%, extending motor lifetime by 30%, and cutting energy consumption by around 10%.
Besides smart technology, the manufacturers are also integrating industry specific features in the low voltage motors for enhanced performance. For example, attributed to flameproof features, the low voltage motors is expected to witness significant demand in the mining industry. Moreover, the manufacturers also witness demand for the cast iron motors for underground mining conveniently as these motors are equipped with special varnish corrosion protection, which prevents the moisture between winding insulation and ingression.
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Apart from the mining industry, the low voltage motors also witness significant demand for water treatment purposes globally. Increasing need to replace, upgrade, and retrofit the equipment related to wastewater treatment facilities is expected to fuel demand for low voltage motors globally. Such factors are expected to contribute towards growth of the global low voltage motors market during the forecast period.
Increasing demand for energy source has led to significant adoption of the low voltage motors in various industries including food and beverages manufacturing, utilities, commercial and mining low. The F&B manufacturing segment is expected to register the highest CAGR growth in the global market through 2022. However, the others segment is expected to represent the highest revenue growth, accounting for a value of over US$ 3,000 Mn by the end of 2017. Low voltage motors for application in pumps & fans continue to witness high demand among manufacturers in various industries. The pumps & fans segment is expected to represent the highest revenue growth, accounting for over US$ 6,000 Mn by the end of 2022. As compared to other application segments, the extruders segment is expected to register the highest CAGR in the global market throughout 2022.
On the basis of capacity, the 0.75-2.1 kW segment is expected to register the highest CAGR in the global market through 2022. In terms of revenue, the 2.2-7.4 kW segment is expected to represent the highest growth, accounting for over US$ 4,000 Mn by the end of 2022. Leading market players operating in the global low voltage motors market include ABB, Siemens, WEG Electric Corp, Nidec Group, GE, Toshiba, Hyosung Corporation, Hyundai Heavy Industries, Shangdong Huali, Regal Beloit, and Teco Electric & Machinery.
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Low Voltage Motors Market to Witness Steady Expansion During 2017 to 2022
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