Motor is a device which converts electrical energy into mechanical energy or motion to drive electrical equipment. Electric motors are used in various applications such as, blowers and pumps, power tools, disk drives, industrial fans, machine tools, and household appliances. In addition, high voltage motors are used in pipeline compression, ship propulsion and pumped-storage. Low voltage motors include energy-saving, motors according to NEMA standards, explosion-protected, N-compact standardline, marine and smoke extraction motors. Medium voltage motors include asynchronous squirrel-cage, synchronous machines, asynchronous slipring and NEMA motors.
One of the key trends in this market is development of customized motors. Customized motors offer systems solutions and special mechanical properties for the end-users and they are more efficient than standard low and medium voltage motors. Hence, wood processing industry and textile industry are implementing customized motors at a rapid rate.
The demand for low voltage and medium voltage motors is expected to grow at a moderate CAGR. Number of low voltage motors installed in cars is forecast to increase with the growing sophistication of vehicle electronics. Europe and North America have started implementing hydraulic fracking technique, which in turn increases demand for low and medium voltage motors in coming years. Urbanization along with infrastructure expansion in rising economies is expected to drive future growth in this market. In addition, wastewater treatment facility in North America is in the process of renovating, which in turn drives the demand for low and medium voltage motors.
Some of the key players in global low voltage and medium voltage motors market include ABB Ltd., Toshiba Corp , General Electric Co., Ansaldo Energia S.p.A, Regal Beloit Corp., Converteam Inc., Teco Energy Inc., Siemens AG, Hyosung Corp., Dumore motors, WEG Electric Corp., Leroy Somer S.A., General Electric Co., and Dynetic systems among others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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