The Global Low Voltage Motors market is to grow at a CAGR of 17.66 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growth of the Hydraulic Fracking industry. The market has also been witnessing increased development of customized motors. However, the threat from low cost vendors could pose a challenge to the growth of this market.
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.
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.
For more information on the Global low voltage motors market, please click here: Global low voltage motors market
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.