London, 03 July 2015 – Technavio has published a new report on the global low-voltage motors market, which is expected to grow at a CAGR of more than 9% from 2015-2019.
About the Report
According to the new Technavio report, the enforcement of motor efficiency legislation has propelled the growth of motor manufacturers. North America transitioned to premium efficiency (IE3) motors in 2011, while Europe and China made the shift to high efficiency (IE2) motors in 2012.
“The motor efficiency regulations have been imposed on motor manufacturers, original equipment manufacturers, and end-users to encourage the use of more energy efficient motors, which has led to increased revenue generation of motor manufacturers,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the regulatory bodies around the world that have been attentively formulating guidelines to govern the use of electric motors by various end-users.
“Organizations such as international electrotechnical commission and national electrical manufacturers association have mandated motor manufacturers to design and produce environmentally friendly, energy-efficient motors,” adds Ghaus.
Market Scope and Calculation of Market Size
In this report, Technavio covers the present scenario and growth prospects of the global low-voltage motors market for the period 2015-2019. The report discusses the vendor landscape and their intense competition, especially in the US and in China, the two largest markets for these motors.
Key Information Covered in the Report:
Key Vendors:
- ABB Ltd.
- Siemens AG
- TECO-Westinghouse Motor Company
- WEG S.A.
Market Growth Drivers:
- Enforcement of motor efficiency legislation
- For a full detailed list, view our report.
Market Challenges:
- Volatility in raw material prices
- For a full detailed list, view our report.
Market Trends:
- Government regulations
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
