Low Voltage Motor Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Low Voltage Motor Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The low voltage motor market has experienced robust growth in recent years, expanding from $36.28 billion in 2023 to $39.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to establishment of international standards for motor efficiency and safety, rapid industrialization and urbanization of emerging markets, energy efficiency programs, expansion of telecommunications networks, and proliferation of household appliances.

Strong Future Growth Anticipated
The low voltage motor market is projected to continue its strong growth, reaching $58.51 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to implementation of customer-centric approaches, infrastructure development projects, growth in regenerative medicine and biotech sectors, implementation of cybersecurity measures to protect low voltage motor systems, and implementation of remote monitoring and predictive maintenance solutions for low voltage motors.

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Growth Driver Of The Low Voltage Motor Market
The increasing adoption of intertrial robots is expected to propel the growth of the low-voltage motor market going forward. Industrial robots are programmable machines typically used in manufacturing and industrial settings to perform tasks that require precision, speed, and consistency. The adoption of industrial robots is driven by the pursuit of increased efficiency, improved quality, enhanced safety, cost savings, flexibility, and technological advancements. Low voltage motors in robotics enable robots to perform a wide range of tasks with agility, accuracy, and energy efficiency, making them essential components in modern robotic systems across various industries and applications.

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Major Players And Market Trends
Key players in the low voltage motor market include Hitachi Ltd., Siemens AG, General Electric Company, TECO Electric & Machinery Co. Ltd., Mitsubishi Electric Corporation, Schneider Electric.
Major companies operating in the low-voltage motor market are developing electric motors to meet evolving industry demands. Electric motors refer to devices that convert electrical energy into mechanical energy.

Segments:
1) By Product Type: International Efficiency 1 (IE1) Low-Voltage Motors, International Efficiency 2 (IE2) Low-Voltage Motors, International Efficiency 3 (IE3) Low-Voltage Motors, International Efficiency 4 (IE4) Low-Voltage Motors
2) By Application: Low Voltage Crushers, Low Voltage Compressors, Low Voltage Extruders, Low Voltage Pumps And Fans, Low Voltage Conveyors
3) By End-User Industries: Food And Beverage, Mining, Automotive, Electronics, Textile, Other End-User Industries

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the low voltage motor market in 2023. The regions covered in the low voltage motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Low Voltage Motor Market Definition
A low-voltage motor typically refers to an electric motor that operates on a voltage lower than the standard mains voltage used in most residential and industrial applications. In general, low-voltage motors are designed to operate below 1000 volts (1 kV). These motors are commonly used in various applications where lower voltage levels are sufficient to meet operational requirements, such as small appliances, tools, automotive systems, and specific industrial machinery.

Low Voltage Motor Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Low Voltage Motor Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on low voltage motor market size, low voltage motor market drivers and trends, low voltage motor market major players, low voltage motor competitors' revenues, low voltage motor market positioning, and low voltage motor market growth across geographies. The low voltage motor market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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