"Latest Insights on Executive Summary Low Voltage Motor Market Share and Size

CAGR Value

The global low voltage motor market size was valued at USD 44.96 billion in 2024 and is expected to reach USD 137.54 billion by 2032, ****at a CAGR of 15.00% during the forecast period

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Low Voltage Motor Business Outlook

Segments

• By Efficiency Class: The low voltage motor market can be segmented based on efficiency class into standard, high, and premium efficiency classes. The emphasis on energy efficiency and sustainability is driving the demand for high and premium efficiency motors.
• By Type: Segmentation by type includes AC motors and DC motors. AC motors are more widely used due to their cost-effectiveness and ease of use, but DC motors are preferred in specific applications where precise speed control is required.
• By Output Power: Low voltage motors are categorized based on output power into fractional horsepower motors and integral horsepower motors. Fractional horsepower motors are suitable for light industrial applications, while integral horsepower motors are used in heavy-duty industrial operations.
• By End-Use Industry: The market can also be segmented by end-use industry, including automotive, manufacturing, HVAC, mining, oil and gas, and others. Each industry has distinct requirements for low voltage motors, impacting the market dynamics accordingly.

Market Players

• ABB: ABB is a prominent player in the global low voltage motor market, offering a wide range of efficient and reliable motor solutions for various industries.
• Siemens: Siemens is known for its innovative low voltage motor technologies, catering to the evolving needs of industries worldwide.
• WEG: WEG is a key player in the market, known for its high-quality low voltage motors that ensure optimal performance and energy efficiency.
• Regal Beloit Corporation: Regal Beloit Corporation is a leading manufacturer of low voltage motors, offering customized solutions to meet diverse industrial requirements.
• Nidec Corporation: Nidec Corporation is a global provider of low voltage motors, known for its advanced motor technologies and commitment to sustainability.
• Rockwell Automation: Rockwell Automation is a trusted name in the market, delivering cutting-edge low voltage motor solutions that enhance industrial automation processes.

The global low voltage motor market is witnessing steady growth, driven by the increasing industrialization, infrastructure development, and emphasis on energy efficiency. Key players are focusing on technological advancements and product innovations to gain a competitive edge in the market. Rising investments in renewable energy projects and the adoption of electric vehicles are also contributing to the market expansion. However, fluctuating raw material prices and regulatory constraints may pose challenges for market growth.