Global High-Efficiency Low Voltage Aluminum Motors Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Increase in awareness about smart motors and technological developments, such as Industrial Internet of Things (IIoT), are fueling global high efficiency low voltage aluminum motors market growth

The Global High Efficiency Low Voltage Aluminum Motors Market is estimated to be USD 37.77 Bn in 2023 and is expected to reach USD 46.98 Bn by 2028 growing at a CAGR of 4.46%.

The Global High-Efficiency Low Voltage Aluminum Motors Market is driven by a rise in demand for high-efficiency equipment. An increase in awareness about energy-efficient solutions is encouraging manufacturers to focus on the development of High-Efficiency products. The rise in energy costs increases the demand for High-efficiency low-voltage aluminum motors. Utilization of High-Efficiency motors saves energy and operating costs. The surge in demand for energy and rising pressure on reducing carbon emissions are encouraging industries to adopt energy-efficient equipment. Furthermore, the rising number of Applications in the food and beverage industry drives the growth of the High-Efficiency low voltage aluminum motors market. The surge in the adoption of High-Efficiency low voltage aluminum motors across various industries owing to their durability and reliability stimulates the growth of the High-Efficiency low voltage aluminum motors market. The growing demand for energy-saving motors that enhances overall efficiency and reduces cost contributes to the growth of the High-Efficiency low voltage aluminum motors market. In addition, High-Efficiency low voltage aluminum motors are used in mixers, grinders, and conveyers, promoting the market growth.

However, the electric motor pricing is dependent on the price of raw materials such as permanent magnets, steel bars, copper wires, and precision thin metals such as specialty alloys. Many of these raw materials are sourced from China, Africa, and South American countries. The product's price determines certain suppliers' dominance in an electric motor market. Any fluctuation in raw material prices will directly impact the motor prices. Hence, the other manufacturers/suppliers in the market must bear the resulting price fluctuations. Currently, neodymium magnet accounts for the largest share of the market and is expected to be the fastest-growing magnetic material segment during the forecast period. The high energy product and high residual flux density of neodymium make it a compulsive choice of material for industrial Applications. Furthermore, the lack of information and technical capacity for evaluating the savings from energy-efficient motors hampers the growth of the High-Efficiency low voltage aluminum motors market.

Moreover, induction motors are expected to create an opportunity for the global market during the forecast period. This is ascribed to the cost-effectiveness and other benefits of induction motors compared to other motors. This motor is commonly used in alternating current (AC) electric motors. An induction motor is a high-efficient machine with full load efficiency. Moreover, it does not contain any type of brushes and slip rings as in other motors. Hence, induction motors cost less and can operate in hazardous conditions. Stick electrodes can be easily modified depending upon the nature of Applications.

Market Segmentations

• The Global High-Efficiency Low Voltage Aluminum Motors Market is segmented based on Type, Power, End-Use Industry, and Geography.
• By Type, the market is classified into Induction Motors, Permanent Magnet Motors, and Synchronous Motors.
• The Induction Motor segment is projected to grow with the highest CAGR in the forecasting period due to this motor is commonly used in alternating current (AC) electric motors. An induction motor is a high-efficient machine with full load efficiency. Moreover, it does not contain any brushes and slip rings as in other motors. Hence, induction motors cost less and can operate in hazardous conditions. Stick electrodes can be easily modified depending upon the nature of Applications. Furthermore, demand for induction motors is rising across the globe due to an increase in oil & gas, mining, automotive, and other industries in emerging economies.
• By Power, the market is classified into 0 KW to 0.75 KW, 0.75 KW to 7.5 KW, 7.5 KW to 15.5 KW, and Above 29.5 KW.
• The 0 KW to 0.75 KW segment holds the largest market share in the forecasting period due to the demand for High-Efficiency low-voltage aluminum motors increasing due to benefits such as durability and reliability in performance. Furthermore, these motors are used in special Applications such as fans, pumps, and refrigeration systems due to High-Efficiency and low voltage.
• By End-Use Industry, the market is classified into Chemicals & Fertilizers, Food & Beverage, Marine, Mining & Metals, and Paper & Food Processing.
• The food & beverages segment is predicted to grow with the largest CAGR in the forecasting period. As the population increases, the demand for food & beverages also increases. Also, the market is driven by the rising demand for healthy and nutrition-rich diets. Evolving lifestyles and increasing incomes of consumers worldwide have fueled the demand for products with superior nutritional profiles, which further increases the demand for High-Efficiency low voltage aluminum motors.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• The Asia Pacific is predicted to grow with the highest CAGR in the upcoming year. The growing mining & metals sector in the Asia Pacific is expected to positively impact this region's High-Efficiency low voltage aluminum motors market. Simultaneously, growth in the metal fabrication industry and increasing demand from the automotive industry supplement the growth of the High-Efficiency low voltage aluminum motors market in Asia Pacific. The increasing demand for these motors from several other industries like paper, water, and wastewater management is driving the growth of the Asia Pacific High-Efficiency low voltage aluminum motors market.

Recent Development

• Toshiba Corporation launched TB9083FTG, which acts like a gate-driver for automotive brushless DC motors used in various applications such as electric power steering, electric brakes, and shift-by-wire. - February 2023.
• Nidec Motor Corporation subsidiary Nidec Motor Limited launched a new plant in Dalian, China. The new plant will manufacture electro-mechanical brakes (EMB), electric water pumps (EWP), and other automotive motors while planning to start the company’s traction motor system, mass-producing the E-Axel.- February 2023.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are ABB Ltd., Danfoss A/S, Hitachi Ltd., Siemens AG, Toshiba Corp., etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global High-Efficiency Low Voltage Aluminum Motors Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global High-Efficiency Low Voltage Aluminum Motors Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global High-Efficiency Low Voltage Aluminum Motors Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
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Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market