According to a recently published report by Fact.MR, the global low voltage motors market is expected to register a healthy CAGR, and is expected to represent a value of over US$ 35,000 Mn by the end of 2022.
Growing need for cost efficient energy source continues to remain a major factors fuelling adoption of low voltage motors in various industries. Manufacturers are integrating intelligent technology in low voltage motors, which is projected to impact growth of the global low voltage market positively. A recently compiled report by Fact.MR, the global of low voltage motors market is projected to represent more than US$ 35,000 Mn by 2022-end.
Pumps & Fans Segment to Represent a Leading Segment
As demand for low voltage motors with high efficiency among manufacturers continues to increase, IE2 is expected to witness significant adoption in various industries. The IE2 segment is expected to represent the highest revenue growth, accounting for a value of over US$ 5,000 Mn by the end of 2022. This segment is expected to register the highest CAGR in the global low voltage market throughout 2022.
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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.
Factors Fuelling Growth of the Global Market
Adoption of low voltage motors continue to increase attributed to various microeconomic and macroeconomic factors. Growing demand for capital and consumer goods has led manufacturers to adopt intelligent machines, which helps in making analysis of actual needs during the production process. On the basis of this predictive analysis, the end users can extend the lifetime and reduce the downtime by cutting the energy consumption by nearly 10%.
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In addition to adoption of smart technology, the manufacturers are also embedding advanced features that are specific to the end use industry. For example, manufacturers are integrating flameproof attributes in the low voltage motors for activities specific to mining industry. Demand for cast iron motors for the underground mining activities will continue to remain high attributed to corrosion-resistant and moisture-resistant features.
Surge in demand for wastewater treatment due to growing industrialisation is projected to impact global market growth of low voltage motors positively. Increasing industrial activities leads to generation of wastewater globally. Treatment of wastewater is projected to fuel growth of the global market of low voltage motors. Growing need to upgrade, retrofit, and replace the water treatment equipment will further rev up demand for low voltage motors in various industries.
Table of Contents:
1. Global Low Voltage Motors Market - Executive Summary
2. Global Low Voltage Motors Market Overview
3. Global Low Voltage Motors Market Analysis and Forecast By Efficiency Class
4. Global Low Voltage Motors Market Analysis and Forecast By Sector
4.1. Global Low Voltage Motors Market Size and Forecast By Sector, 2012-2022
4.1.1. Commercial HVAC Low Voltage Motors Market Size and Forecast, 2012-2022
4.1.1.1. Revenue (US$ Mn) Comparison, By Region
4.1.1.2. Market Share Comparison, By Region
4.1.1.3. Y-o-Y growth Comparison, By Region
4.1.2. F&B Manufacturing Low Voltage Motors Market Size and Forecast, 2012-2022
4.1.2.1. Revenue (US$ Mn) Comparison, By Region
4.1.2.2. Market Share Comparison, By Region
4.1.2.3. Y-o-Y growth Comparison, By Region
5. Global Low Voltage Motors Market Analysis and Forecast By Application
5.1. Global Low Voltage Motors Market Size and Forecast By Application, 2012-2022
5.1.1. Compressors Low Voltage Motors Market Size and Forecast, 2012-2022
5.1.1.1. Revenue (US$ Mn) Comparison, By Region
5.1.1.2. Market Share Comparison, By Region
5.1.1.3. Y-o-Y growth Comparison, By Region
Continued…….
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