Demand For Low Voltage Motors In Europe Is Expected To Surge At A CAGR Of 6% Through 2031 X Herald
Date
5/25/2023 12:45:20 PM
(MENAFN- Ameliorate Digital Consultancy)
The market for low voltage motors in Europe is experiencing significant growth due to various factors. One of the primary drivers is the increasing industrialization across the region. As industries expand and modernize their operations, the demand for low voltage motors to power machinery and equipment also rises. These motors are used in a wide range of industrial applications, including manufacturing processes, material handling, and automation systems. Additionally, Europe is witnessing substantial infrastructure development, which further fuels the demand for low voltage motors. Construction projects, including commercial buildings, residential complexes, and infrastructure projects like airports, railways, and ports, require reliable and efficient motor systems to power various equipment such as elevators, HVAC systems, and pumps.
Energy efficiency is another critical factor driving the market for low voltage motors in Europe. With increasing awareness of environmental concerns and the need to reduce energy consumption, industries and businesses are actively seeking energy-efficient solutions. Low voltage motors with high-efficiency ratings can significantly contribute to energy savings and lower operating costs. As a result, there is a growing emphasis on replacing older, less efficient motors with modern, energy-efficient models. Furthermore, government regulations and initiatives play a crucial role in shaping the market for low voltage motors in Europe. The European Union has implemented stringent energy efficiency regulations, such as the Ecodesign Directive and Energy Labelling Directive, which set minimum efficiency standards for motors. These regulations drive the adoption of energy-efficient motors and encourage manufacturers to develop innovative, high-performance motor technologies.
In conclusion, the market for low voltage motors in Europe is experiencing growth driven by industrialization, infrastructure development, the emphasis on energy efficiency, and regulatory initiatives. As industries and businesses continue to prioritize energy-saving solutions and upgrade their equipment, the demand for efficient and reliable low voltage motors is expected to remain strong.
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Key findings of the Low Voltage Motors market study:
The report provides a present market outlook on Low Voltage Motors. Additionally, the Low Voltage Motors market share is anticipated to grow with a CAGR of 6.8% in the forecast period. Regional breakdown of the Low Voltage Motors market based on predefined taxonomy. Innovative manufacturing processes implemented by Low Voltage Motors vendors in detail. Region-wise and country-wise fragmentation of the Low Voltage Motors market to grasp the revenue, and growth outlook in these areas. Changing preferences among consumers across various regions and countries. Factors (Positive and Negative) impacting the growth of the global Low Voltage Motors market. Low Voltage Motors price, market share, and Trends forecast for assessment period 2021-2031
Why is there High Market Demand for IE 1 Low Voltage Motors?
The demand for IE 1 (Efficiency Class 1) low voltage motors is generally not high in the market. In fact, IE 1 motors are considered to have lower efficiency compared to higher efficiency classes such as IE 2, IE 3, and IE 4. However, I can provide some reasons why there might still be some market demand for IE 1 low voltage motors:
Cost Considerations: One of the primary reasons for the demand for IE 1 motors is their relatively lower cost compared to higher efficiency classes. In some cases, budget constraints or specific applications with lower operating hours may make IE 1 motors an acceptable and more affordable choice. Some industries or regions with lower electricity costs may prioritize upfront savings over long-term energy efficiency. Retrofitting and Replacement: In existing installations where older, less efficient motors are already in use, there may be a demand for IE 1 motors as a replacement option. Upgrading to higher efficiency motors can require additional investments in infrastructure, controls, and systems, which may not always be feasible or cost-effective for certain applications. In such cases, replacing older motors with IE 1 motors can still provide some energy savings compared to the existing motors. Specific Applications: There might be certain applications where the efficiency requirements are not as critical, and the operating conditions do not warrant the use of higher efficiency motors. These applications could be characterized by low load factors, infrequent use, or lower motor power requirements. In such cases, IE 1 motors might be considered sufficient for the intended purpose. Competitive landscape analysis
Strategic partnerships allow enterprises to improve output and fulfil customer demand, increasing revenue and market share. End-users will profit from eco-friendly products thanks to new products and technology.
ABB just established a manufacturing line at its Faridabad manufacturing facility to boost its manufacturing capacity of low voltage motors on August 25th, 2021. Customers in industries such as food and beverage, water and wastewater, cement, metals and mining, HVAC, textiles and rubber may now acquire energy-efficient motors up to 55kW with the new line of development. The expansion demonstrates the company's commitment to the“Make in India” concept. After receiving clearance from the Competition Commission of India, Siemens bought electrical equipment maker C&S Electric in March 2021. For?21 billion, the business purchased 99.22% of C&S Electric's equity shares from its promoters. With this acquisition, the business intends to penetrate the Indian market and become a centre for exporting low-voltage items to other countries. WEG Industries announced further investments for its current electric motor manufacturing in Linhares, Brazil, in November 2021. The investment plan is for R$ 178.2 million through to 2023 for the modernisation and expansion of electric motor production capacity. The business intends to extend existing structures to 79,000 square metres with this investment.
Some of the leading companies operating in the market are :
ABB Ltd. Siemens AG WEG Industries Nidec Corporation General Electric Company (GE) Toshiba Corporation Hyosung Corporation Hyundai Heavy Industries Co. Ltd. Shangdong Huali Electric Motor Group Co. Ltd. Regal Rexnord Corporation TECO Electric & Machinery Co. Ltd.
What insights does the Low Voltage Motors report provide to the readers?
Low Voltage Motors fragmentation on the basis of product type, end use, and region. Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape. Collaborations, R&D projects, acquisitions, and product launches of each Low Voltage Motors Various regulations imposed by the governments on the consumption of Low Voltage Motors in detail.
Key Segments Covered
Efficiency Class
IE 1 Low Voltage Motors IE 2 Low Voltage Motors IE 3 Low Voltage Motors IE 4 Low Voltage Motors DC Low Voltage Motors Others Low Voltage Motors
Sector
Commercial HVAC Low Voltage Motors F&B Manufacturing Low Voltage Motors Mining Low Voltage Motors Utilities Low Voltage Motors Other Sectors Low Voltage Motors
Application
Low Voltage Compressors Low Voltage Pumps & Fans Low Voltage Conveyors Low Voltage Crushers Low Voltage Extruders Other Applications
Capacity
75 – 2.1 kW Low Voltage Motors 4 kW Low Voltage Motors 5 – 45 kW Low Voltage Motors 46 – 75 kW Low Voltage Motors 76 – 110 kW Low Voltage Motors 111 – 375 kW Low Voltage Motors 375 kW Low Voltage Motors
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