Zurich, Switzerland – The market for low-voltage motors will grow to more than $23 billion by 2017, driven by regulatory requirements that stipulate higher motor efficiencies, according to the latest report from information and analytics provider IHS.
In ‘The World Market for Low Voltage Motors 2013 Edition,’ IHS reports that in 2012, the market size was $14.6 billion, with more than 48 million units shipped.
The report also notes that ABB has strengthened its market position in low-voltage motors and continues to grow faster than the market. ABB's market share rose 1 percentage point to 14%, according to IHS.
Since the acquisition of Baldor in 2011, when it became a market leader, ABB has improved its market position by continuous investments in the development of high-efficiency motors and improvements in customer service. Over the past two years ABB increased its sales of low-voltage motors by more than 26%.
“The strengthening of our market position reflects the successful integration of Baldor in our total offering,” says Ulrich Spiesshofer, head of ABB’s Discrete Automation and Motion division. “We are now realizing the synergies that were created by this deal.”
Recently ABB introduced so-called synchronous reluctance motors that can achieve IE4 levels of efficiency without the use of permanent magnets. Compared with an IE2 motor, the energy losses are reduced by up to 40%.
“ABB has a strong value proposition and I am happy to see that so many customers appreciate that. These recent findings by IHS motivate us to press ahead with reducing cost of ownership through customer service and innovation,” says Robert Larsson, manager of ABB’s Motors and Generators business unit.
ABB (www.abb.com) is a provider of power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.