TechNavio recognizes the following companies as the key players in the Global Low Voltage and Medium Voltage Motors Market: ABB Ltd., General Electric Co., Regal Beloit Corp., and Siemens AG.
Commenting on the report, an analyst from TechNavio’s Engineering team said: “The development of customized motors is one of the key trends in the Global Low Voltage and Medium Voltage Motors market. For instance, Siemens AG has started to offer customized motors as per specific industry requirements. Unlike standard motors, customized motors provide special mechanical properties and systems solutions for the end-users. Additionally, customized motors are more efficient than standard motors. Thus, many end-users, especially the Textile industry and the Wood Processing industry, are adopting customized motors at a rapid rate.”
According to the report, the Global Low Voltage and Medium Voltage Motors market is driven by many factors, one of which is the increased popularity of the hydraulic fracking technique. North America and Europe have started adopting this technique, which increases the demand for low voltage and medium voltage motors. In addition, a water and wastewater treatment facility in North America is in the process of revamping. This will also create a demand for low voltage and medium voltage motors.
Further, the report states that one of the major challenges in the market is the increased competition. In addition, the scarcity of rare earth metals causes an increase in the price of raw materials, which could adversely affect the growth of the market.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Ansaldo Energia S.p.A., Converteam Inc., Hyosung Corp., Leroy Somer S.A., Teco Energy Inc., Toshiba Corp., and WEG Electric Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-low-voltage-and-medium-voltage-m…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-software
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Global Low Voltage and Medium Voltage Motors Market 2012-2016
