Low Voltage Motors Market

Low Voltage Motors Market Outlook (2023 to 2033)

Worldwide demand for low voltage motors is predicted to rise at a healthy CAGR of 6.8% from 2023 to 2033. At present, the global low voltage motors market is valued at US$ 41.20 billion and is thus expected to touch a valuation of US$ 79.55 billion by 2033.

Low voltage motors, also known as LV motors, are electric motors that operate at low voltage levels. In general, low voltage refers to voltage levels less than 1,000 volts. Low voltage motors are widely utilized in a variety of commercial, industrial, and residential applications where the available power source is at a lower voltage.

Governments and regulatory organizations all around the world are enacting strict energy efficiency norms and rules. Low voltage motors are often more energy-efficient than previous motor technologies. As a result, enterprises are replacing outdated motors with newer, higher-efficiency models to comply with requirements and reduce energy use.

Expansion of renewable energy generation, such as wind turbines and solar power systems, necessitates the use of low voltage motors to convert and control electrical energy. With a rising emphasis on clean and sustainable energy sources, the need for low voltage motors in the renewable energy sector is on the rise.

Global demand for consumer goods such as refrigerators, washing machines, air conditioners, and kitchen equipment is increasing. Low voltage motors are frequently used in these appliances for various applications such as compressors, fans, and pumps. The demand for low voltage motors is increasing as consumer preferences shift toward energy-efficient appliances.

The construction sector is expanding rapidly, particularly in developing economies.

• For instance, the construction Industry in India is forecasted to reach US$ 1.4 trillion by 2025.

Low voltage motors are widely utilized in construction equipment, HVAC systems, elevators, and other types of building infrastructure. The expanding construction industry, combined with urbanization and infrastructure development initiatives, is driving the demand growth of low voltage motors.

Many countries are confronted with the issue of aging industrial infrastructure, particularly obsolete motor systems. Modern, energy-efficient low voltage motors provide better performance, lower maintenance costs, and higher reliability. This replacement and modernization of existing infrastructure are propelling market growth.

Advancements in motor technologies, such as improved motor designs, materials, and control systems, have made low voltage motors more efficient, dependable, and cost-effective. These developments have pushed industries to modernize their motor systems, which has contributed to market expansion.

Report Attributes	Details
Low Voltage Motors Market Size (2023)	US$ 41.20 billion
Projected Market Value (2033)	US$ 79.55 billion
Global Market Growth Rate (2023 to 2033)	6.8% CAGR
China Market Value (2033)	US$ 16.54 billion
IE 1 Segment Growth Rate (2023 to 2033)	7.3% CAGR
Key Companies Profiled	ABB Group GE Power Conversion Hyosung Corporation Hyundai Heavy Industries Co., Ltd Nidec Corporation Siemens AG TECO-Westinghouse Toshiba Corp. WEG Equipamentos Eletricos SA Wolong Electric Group

Why are Low Voltage Motors Becoming More Popular?

“Increasing Trend of Industrial Automation”

Increasing trend of industrial automation is driving the demand for low voltage motors. These motors play a crucial role in powering various automated systems, machinery, and production lines. As industries strive to improve productivity, efficiency, and reduce labor costs, the adoption of low voltage motors is growing.

The overall growth of global industries, including aerospace, automotive, electronics, chemicals, and manufacturing, is also boosting the sales of low voltage motors. As industrial activities increase, the need for motors to power machinery, equipment, and automation systems also grows.

Country-wise Insights

What Makes China, Japan, and South Korea Attractive Markets for Low Voltage Motor Manufacturers?

“Strong Industrial Base in These Countries”

As per Fact.MR, a market research and competitive intelligence provider, the sales of low voltage motors in China, Japan, and South Korea are estimated to reach US$ 16.54 billion, US$ 4.85 billion, and US$ 2.54 billion, respectively, by 2033.

China's industrial sector is quickly expanding backed by a wide range of industries, including automotive, manufacturing, chemicals, and electronics. Industrial automation, production line modifications, and the requirement for energy-efficient solutions are fueling the demand for low voltage motors in these industries.

Furthermore, China's fast urbanization and ongoing construction projects produce a large need for low voltage motors in applications such as elevators, escalators, HVAC systems, and building automation. The expanding urban population and infrastructural development both contribute to the country's market expansion.

Japan has a well-established manufacturing industry with a reputation for creating high-quality goods. The demand for low voltage motors is driven by industries such as automotive, electronics, robotics, and precision machinery, which require reliable and high-performance motors for their operations.

South Korea has a strong industrial base that includes industries such as automotive, electronics, chemicals, and shipbuilding. The ongoing expansion and modernization of these industries, which require motors for numerous applications such as production lines, automation systems, and equipment, is driving the demand for low voltage motors.

Why is the United States Exhibiting High Demand for Low Voltage Motors?

“Industrial Modernization, Infrastructure Development, and Renewable Energy Expansion”

The United States is following China in terms of growth. The United States market is set to garner US$ 15.35 billion by the end of 2033.

The United States has a strong manufacturing sector that is constantly evolving and modernizing. The adoption of advanced automation technologies, as well as the requirement for energy-efficient solutions, are driving the market for low voltage motors in the country. Low voltage motors are significantly used in the automotive, aerospace, electronics, and food and beverage industries in the United States.

The country is investing in infrastructure development projects such as transportation networks, renewable energy installations, and smart cities. These projects necessitate the use of low voltage motors in a variety of applications, such as HVAC systems, pumps, conveyors, and industrial machines.

Moreover, to minimize energy usage and carbon emissions, the United States government has implemented energy efficiency initiatives and standards. Low voltage motors are considered more energy-efficient than older motor technologies, making them appealing to sectors trying to comply with laws and decrease operational expenses.

Renewable energy generation, such as wind and solar power, is also expanding rapidly in the United States. The installation of wind turbines, solar panels, and energy storage systems around the country is driving the demand for low voltage motors.

Which Aspects are Majorly Contributing to German Market Growth?

“Energy Efficiency Initiatives and Manufacturing Automation”

The German market is predicted to hit US$ 7.23 billion by 2033. Germany is one of the global leaders in renewable energy and has made significant investments in the transition to clean energy sources. Low voltage motors are essential components of renewable energy systems such as wind turbines, solar panels, and biomass power plants. The growth of renewable energy installations is increasing the demand for low voltage motors.

Germany has strict energy efficiency standards as well as initiatives to reduce energy use and carbon emissions. Low voltage motors are well known for their energy efficiency, making them a popular choice for enterprises.

Germany is at the forefront of industrial automation and innovative manufacturing technologies like Industry 4.0. Low voltage motors play an important role in automated systems, robotics, and smart manufacturing. The growing use of automation is raising the demand for low voltage motors in the country.

Category-wise Insights

Why are IE 1 Low Voltage Motors Most Widely Deployed?

“Benefits of Cost-Effectiveness and Ease of Procurement”

Demand for IE 1 low voltage motors is forecasted to develop at a CAGR of 7.3% from 2023 to 2033. When compared to higher efficiency motor classes such as IE2, IE3, or IE4, IE1 motors are often less expensive. IE1 motors have a lower initial purchase cost, making them an appealing option for budget-conscious purchasers or applications where energy efficiency rules are not strict.

IE1 motors have been extensively available on the market for a long time, and manufacturers have a huge inventory of these motors. They have long been employed in a variety of sectors and applications, resulting in their familiarity and widespread use. Customers and industries may prefer IE1 motors due to their established presence and ease of procurement.

Many current industrial systems and facilities still use IE1 motors. Retrofitting or replacing all old motors with better efficiency classes can be costly and time-consuming. As a result, IE1 motors are still employed in applications where upgrading to higher-efficiency motors is not a priority or financially feasible.

Competitive Landscape

Leading firms in the low voltage motors market are focusing on developing new products that are integrated with cutting-edge technologies. These players are also pursuing strategies such as mergers, partnerships, and acquisitions to grow their global footprint.

• ABB boosted its manufacturing capacity to manufacture low voltage motors at its Faridabad facility, which is powered by renewable energy, in August 2021. The expansion will raise plant capacity by more than 20% and strengthen ABB's regional and global presence. The new line will produce energy-efficient motors of up to 55 kW for customers in various industrial categories such as food and beverage, HVAC, and water and wastewater.
• Siemens acquired C&S Electric in March 2021. With this acquisition, Siemens intends to establish an export hub for selling low-voltage goods to global markets.

Key Segments of Low Voltage Motors Industry Research

• By Efficiency Class :

  • IE1
  • IE2
  • IE3
  • IE4
  • DC

• By End Use :

  • Commercial HVAC
  • Food & Beverages
  • Mining
  • Utilities

• By Application :

  • Low Voltage Compressors
  • Low Voltage Pumps & Fans
  • Low Voltage Conveyors
  • Low Voltage Crushers
  • Low Voltage Extruders

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific & China
  • Middle East & Africa