Interact Analysis have recently released the Low Voltage AC Motor Report and Low Voltage AC Motor Drive reports.
The below infographic combines both of these reports and demonstrates some of the key findings.
The infographic is also available to download in PDF here
-Low Voltage AC Motor revenues were up 21% in 2021 due to historic price increases across the market. By the end of 2021, the market was valued at an estimated $14.6bn.
– Motors used in Pumps, Fans and Blowers & Compressors compromised a staggering 55.2% of revenues in 2020.
-The top 3 vendors in the Low Voltage Motor market are; ABB, Siemens and WEG accounting for around 1/3 of market revenues.
– The average selling price of a motor was up 14% globally across 2021 and most vendors reported pricing increases from 25% – 30%.
– The average selling price of a motor drive increased by ~5% in 2021 with pricing surging into the back half of the year.
– Low Voltage AC Motor Drive revenues were up around 10% in 2021 to reach an estimated value of $21.8bn.
– The top 3 vendors of Low Voltage AC Motor Drives are; ABB, Danfoss, and Siemens. Together they account for nearly 40% of market revenues.
– Semiconductor suppliers are still working to fully restore production to meet the sharp resurgence of demand seen in 2021 with shortages predicted into 2023.