August 14, 2019 by Steve Blade
According to recent report by Fact.MR, the global low voltage motors market was estimated to surpass a value of US$ 25 billion in 2018. Growth of the low voltage motors market can be primarily attributed to incessant rise in the need for cost efficient energy source in number of industries. To meet the escalating demand for consumer and capital goods, manufacturers across the globe are continuously focusing on adopting innovative technologies to improve their production. Emerging trends of incorporating intelligent technology and smart sensors in low voltage motors is likely to gain traction in the coming years.
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Chapter 1 – Global Low Voltage Motors Market – Executive Summary
Chapter 2 – Global Low Voltage Motors Market – Overview
Chapter 3 – Global Low Voltage Motors Market Analysis and Forecast by Efficiency Class
Chapter 4 – Global Low Voltage Motors Market Analysis and Forecast by Sector
Growth Driving Factors of Low Voltage Motors Market
APEJ Leads Gains in Low Voltage Motors Market
Asia Pacific Excluding Japan is anticipated to retain its leading position in the low voltage motors industry, on the back of rapid growth in industrialization including automotive and electronics sectors. In 2018, APEJ low voltage motors market exceeded an estimated value of US$ 9.5 billion, growing at 9.9% in 2019 through 2018. In addition, stringent government regulations regarding motor efficiency and retrofitting and replacing aging equipment are expected to reflect favorably on the growth of low voltage motors market in the region.
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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