Surging Demand for Low-Voltage Motors Market: A $75 Billion Outlook with 6.7% CAGR by 2032

The global demand for low-voltage motors is on track to achieve a value of US$ 39.1 billion in 2022, with a projected Compound Annual Growth Rate (CAGR) of 6.7%. This trajectory points towards a remarkable valuation of US$ 75 billion by the year 2032. The pervasive wave of industrialization across diverse sectors and the potential to mitigate equipment failure risks are set to open substantial growth avenues within the low-voltage motors domain.

Low-voltage motors find extensive utility across various industries, including mining, food and beverage, oil and gas, automotive, packaging, and more. This phenomenon is underpinned by ongoing industrialization endeavors and the sustained surge in global energy consumption. These motors operate at voltages below 1000 V, delivering optimal power output that in turn facilitates heightened production, improved quality, and enhanced energy efficiency.

The global adoption of varied motor efficiency regulations is poised to drive the expansion of the worldwide low-voltage motor market across the forecast period. These regulations mandate manufacturers to embrace more energy-efficient motor options, albeit at a higher cost, thereby contributing to the industry’s progress.

Global Low Voltage Motor Market: Trends and Factors Driving Growth

The global low voltage motor market is poised for robust growth during the forecast period, fueled by technological advancements, rising machinery demand worldwide, and the inherent efficiency of low voltage motors. End-user industries’ increasing adoption of low voltage motors will play a pivotal role in sustaining market growth.

Furthermore, the positive impact of stringent motor efficiency regulations and retrofitting activities driven by aging equipment is expected to bolster the global low voltage motor market.

Regional Landscape of the Global Low Voltage Motor Market

The global low voltage motor market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2014, Asia Pacific held dominance in the global low voltage motor market, attributed to growing consumption of these motors by the automotive and electronics industries in the region.

China notably leads the Asia Pacific market and presents significant growth opportunities for low voltage motors in the near future. Following Asia Pacific, North America is expected to experience vigorous growth in the global low voltage motor market, particularly due to increasing demand in countries like the US and Canada during the forecast period.

Key Players in the Global Low Voltage Motor Market

Major players operating in the global low voltage motor market include ABB, TECO-Westinghouse Motor Company, Siemens, Hyosung Power and Industrial Systems Performance Group, Anhui Wannan Electric Machine, ATB Group, Leroy Somer, LEZ Ruselprom, Luan JiangHuai, NIDEC, Regal Beloit, Shandong Huali Electric Motor Group, GE Industrial, Toshiba International, WEG, VEM Group, and more.