The global low voltage electric motor market size reached USD 15.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 21.6 Billion by 2033, exhibiting a growth rate (CAGR) of 3.9% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 15.3 Billion |
Market Forecast in 2033
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USD 21.6 Billion |
Market Growth Rate 2025-2033 | 3.9% |
A low-voltage electric motor refers to a device that uses voltage below 1000V. The main characteristics of these devices are quality and efficiency, energy balance and high safety standards. For this reason, elevators, compressors, fans, chillers, air conditioners and pumps have been equipped with more simple electrical devices. In addition, they find applications in various industries such as food and beverage, automotive packaging, mining, oil, and gas.
Increasing technology across the globe is propelling the automation industry. This has led to the need for low energy power plants which greatly reduce the additional cost of production. Furthermore, construction and residential renovations across the globe are expected to impact the market growth in the coming years once there is a shift in consumer preferences from inefficient appliances towards energy efficient appliances inefficiency has led to a demand for more energy efficient devices.
IMARC Group provides an analysis of the key trends in each sub-segment of the global low voltage electric motor market report, along with forecasts at the global and regional level from 2025-2033. Our report has categorized the market based on efficiency, end-use industry and application.
Breakup by Efficiency:
Based on efficiency, the market has been segmented into standard, high, premium and super premium efficiency. Currently, high efficiency low-voltage electric motors dominate the market, holding the largest share.
Breakup by End-Use Industry:
On the basis of end-use industry, commercial HVAC represents the largest segment.
Breakup by Application:
The market has also been segregated on the basis of application into pumps and fans, and compressors. Amongst these, pumps and fans hold the majority of the total market.
Breakup by Region:
Region-wise, Europe, Middle East and Africa is the leading market, accounting for the largest share globally. Other major markets include North and South America, and China.
The competitive landscape of the market has also been examined with some of the key players being ABB, Siemens, WEG, TECO E&M, Regal Beloit, Leroy-Somer, Shandong Huali, Hyundai Heavy Industries, Hyosung Corporation and NIDEC.
This report provides a deep insight into the global low-voltage electric motor industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a low-voltage electric motor manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the low-voltage electric motor industry in any manner.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Efficiency, End-Use Industry, Application, Region |
Region Covered | North and South America, Europe, Middle East and Africa, China, Others |
Companies Covered | ABB, Siemens, WEG, TECO E&M, Regal Beloit, Leroy-Somer, Shandong Huali, Hyundai Heavy Industries, Hyosung Corporation, NIDEC |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global low voltage electric motor market was valued at USD 15.3 Billion in 2024.
We expect the global low voltage electric motor market to exhibit a CAGR of 3.9% during 2025-2033.
The rising consumer awareness towards the numerous benefits associated with low voltage electric motors, such as improved quality and productivity, positive energy balance, high safety standards, etc., is primarily driving the global low voltage electric motor market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for low voltage electric motors.
Based on the efficiency, the global low voltage electric motor market can be categorized into standard efficiency, high efficiency, premium efficiency, and super premium efficiency. Currently, high efficiency accounts for the majority of the global market share.
Based on the end-use industry, the global low voltage electric motor market has been segregated into commercial HVAC industry, food, beverage and tobacco industry, mining industry, utilities, and others. Among these, the commercial HVAC industry currently holds the largest market share.
Based on the application, the global low voltage electric motor market can be bifurcated into pumps and fans, compressors, and others. Currently, pumps and fans exhibit a clear dominance in the market.
On a regional level, the market has been classified into North and South America, Europe and Middle East and Africa, China, and others, where Europe, Middle East and Africa currently dominates the global market.
Some of the major players in the global low voltage electric motor market include ABB, Siemens, WEG, TECO E&M, Regal Beloit, Leroy-Somer, Shandong Huali, Hyundai Heavy Industries, Hyosung Corporation, and NIDEC.