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Drivers:

• Growing demand for automation in the industries through industry 4.0.
• Rising demand for appliance ownership.
• Supporting government policies and mandatories towards appliance efficiency along with labeling programs.
• Economies undergoing urbanization and industrialization - South Africa, Mexico, Brazil, China, India.
• Demand for an energy-efficient electric motor in the end-user industry.

Definition and Applications:

Definition: Electric motor consist of electro-mechanical components that convert electrical energy into rotational mechanical energy to provide rotary motion to drive machinery and equipment. 

The motor consists of rotor, stator, bearing, bracket, and lead wire components. 

Electric motors are classified into two categories based on the input current: AC motors and DC motors. The AC motor runs on alternating current, while the DC motor runs on direct current.

The electric motors are also segmented based on the voltage as low voltage, medium voltage, and high voltage motors.

The MEPS (Minimum Energy Performance Standards) policy was created in 1989 and applies to several appliances such as motors, pumps, compressors, transformers, commercial equipment, household appliances, vehicles, and others.

MEPS (Minimum Energy Performance Standards) help countries meet their energy efficiency, CO2 emissions targets and compare efficiency levels across manufacturers. MEPS has led to an overall increase in motor efficiency for low voltage motor users. These advantages have prompted many countries around the world to implement MEPS.

Low Voltage Motors includes the National Electrical Manufacturers Association (NEMA) and International Electrotechnical Commission (IEC) standard motors for various industrial applications covering a wide range of voltages (below 1kV) and power ratings.  

The International Electrotechnical Commission (IEC) scale is used to rate efficiency, beginning with the IE1 (standard efficiency) and IE2 (high efficiency) categories for relatively inefficient motors and progressing to the significantly more efficient IE3 (premium efficiency) and IE4 (super premium efficiency) standards.

Under the ErP directives, the IE3 and IE4 motors are becoming mandatory. Currently, companies are working towards the IE5 (ultra-premium efficiency) line of motor class for the future.

The IE-codes are used as a guideline by governments when establishing minimum energy performance standards (MEPS).

Applications: The application of electric motors is to power machinery. These applications can be found everywhere as pumps, fans, blowers, compressors, machine tools, hoists, conveyors in ventilation fans, exhaust fans, unit heaters, air conditioning blowers, commercial refrigeration condensers, cargo pumps, deck cranes, metering pumps, vacuum pumps, heat exchangers, extruders, elevators, door operators and others.

Low Voltage motors are used in multiple industries such as chemical, steel, oil and gas, power generation, food and beverage, HVAC, marine, mining, water and wastewater, agriculture, pharmaceuticals, farming, residential, metal processing, automotive, construction, and others.

As per the International Energy Agency (IEA), industrial motor systems, lighting, refrigerators, and air conditioners together account for over 40% of global electricity demand and over 5 billion tonnes of global CO2 emissions a year.

Using electric motors with the maximum energy efficiency can thus play a critical role in limiting global energy consumption and lowering CO2 emissions. It can increase the performance of industrial machinery and reduce energy expenditures while simultaneously having a beneficial environmental impact. This has led the government to set mandatory energy-efficient motor standards.

Restraints:

• Increasingly competitive global electric motor market. 
• Economic changes in global markets of developing countries due to geopolitics, but the recovery is continuing.

Recent Market Trends & Developments:

• On January 5, 2022, ABB India launched its new range of low voltage flameproof (FLP) motors designed for safe use in applications in potentially explosive atmospheres. These motors are available in IE2 and IE3 efficiency classes.
• On August 25, 2021, ABB expanded its manufacturing capacity for Low Voltage (LV) motors at its Faridabad facility in India to extend its commitment towards the ‘Make in India’ initiative. They have also adopted renewable energy usage to improve energy efficiency across the plant.
• In November 2021, at the United Nations Climate Change Conference 2021 (or COP26), the 14 SEAD member countries and its partners have launched the COP26 Product Efficiency Call to Action to double the efficiency of four priority appliances that together account for over 40% of global electricity demand – Industrial motor systems, lighting, refrigerators, and air conditioners.
• On February 5, 2021 — Johnson Electric announced a new series of Low Voltage DC (LVDC) motors for Smart Furniture. The LVDC motor solutions are designed for actuators in smart recliners, height-adjustable desks, hospital beds, and other smart furniture products.
• In July 2020, the United Kingdom government had set out GBP 350 million package to fuel green recovery and cut emissions from heavy industry. The government has opened bids for a further £10million to help companies towards R&D of electric motors and batteries.
• Brazil implemented new minimum energy performance standards (MEPS) for motors. The standard came into force in August 2019 and requires induction motors from 0.2 kW to 370 kW to reach IE3 levels (the International Electrotechnical Commission classifies motor efficiency from low (IE1) to super-premium (IE4). 
• Regulation (EU) 2019/1781, issued by the European Union in July 2021, expanded the scope of its regulation on electric motors and variable speed drives, requiring IE3 levels for motors with output power from 0.75 kW to 1 000 kW, and IE4 levels for motors with output power between 75 kW and 200 kW by July 2023.

Opportunities:

• Growth potential in countries like China, India, Japan, the United States, Russia for steel industry.
• Increasing demand for HVAC technology solutions – China, Japan, India, United States, Canada.

Regional Analysis:

United States: Heating

• Heat pumps are an important technology for increasing efficiency and phasing out the use of fossil fuels in space heating and other applications. Over the last five years, installed heat pumps have increased by 10% per year, with 180 million in use by 2020.
• The Americas have also seen consistent growth. The United States remains the region's largest market, with new construction and oil/propane furnace replacement accounting for most demand. Another important factor driving adoption in the United States and Canada is the ability of heat pumps to provide both heating and cooling.
• In the United States, residential heat pump spending increased by 7% from 2019 to USD 16.5 billion, with heat pumps accounting for roughly 40% of heating systems installed in new single-family homes completed between 2014 and 2020. 
• Many jurisdictions in the United States continue to prioritize electrification through building codes. For example,

• The Seattle Energy Code has announced a widespread ban on fossil fuel heating for new construction, as well as requirements for electrification.
• From 2023, the California building energy code will make highly efficient electric heat pumps the baseline technology for code compliance, with new home builders facing more strict energy performance measures if one is not installed.

Blackridge Research's Global Low Voltage motors market report provides insights into the current global and regional Global market demand scenario and its outlook.

This study offers a detailed analysis of various factors instrumental in affecting the Global Low Voltage Motors market's growth. The study also comprehensively analyses the market based on standard (International Electrotechnical Commission – IEC, National Electrical Manufacturers Association – NEMA, and Other Non-Classified) and geography (North America, Europe, Asia-Pacific, and the Rest of the world).

This report also includes the latest market trends, drivers and restraints, present and future opportunities, new projects, the global impact of geopolitics on the Global Low Voltage Motors market, and significant developments.

Further, the report will also provide Global Low Voltage Motors market size, demand market forecast, and key competitors in the market.