High-Speed Motor Manufacturers
Market - Overview
High speed motors attain a rotational
speed of more than 10,000 rpm. The motor’s power density is high owing to the
high-power voltage and speed. It is also relatively less to other average speed
motors. The key application of high-speed motor is to facilitate transmission
at an increased rate with reduced noise generation. Owing to the high speed of
the motor the inertia generated is insignificant which gives rise to faster
dynamic response. Several government norms have been developed over time to
surge the efficacy of motor and lower the energy consumption. Market Research
Future has conducted an exhaustive study on the high-speed motor market.
According to the study, the market was valued at 11,658.4 in 2016.
The High-Speed
Motor Manufacturers Market is expected to grow at 4.25% CAGR throughout
2017 to 2023. The development of the high-speed motors market is primarily
driven by energy efficient evaluation approaches, surging demand for high speed
motor in industries along with growing government initiatives. The Office of
Energy Efficiency & Renewable Energy states that there has been increasing
outlay of up to USD 25 million in this sector. The investment is significant
for building progressive technologies for energy-efficient electric motor. The
U.S. General Services Administration (GSA) had conducted a program in 2012 that
evaluates the advantages of applying magnetic bearing chiller compressors. The
evaluation has resulted in surged energy of high-speed motor by 49%. The
growing advantages provided by magnetic bearing will give rise to growth in
demand for installation of magnetic bearing in high speed motor. This has
affected the market growth to a substantial extent and is likely to influence
the market throughout the review period. However, the complexity associated
with the design proves to be a key limiting factor for high speed motor since
the making of high-speed motor involves superior quality element. The motor is
likely to get damaged with the incorporation of poor-quality elements.
High-Speed Motor Manufacturers
Market Segmentation
The
segmentation of the high-speed motor market is based on power range, product,
region, and application. Based on power range, the market is segmented as low
voltage and high voltage. Low voltage segment is expected to dominate the
market over the forecast period. According to product, the market is segmented
into permanent magnet motor, induction motor, and others. Permanent magnet
motor is expected to hold the major market share over the review period. Based on application, the market is segmented
into power generation, machine tools, bearings, compressor, and others. Power
generation is likely to lead the market throughout the forecast period.
Regional
Analysis
Based on geography, the global high-speed motor
market has been segmented into Europe, Asia Pacific, North America, and the
Rest of the World.
Asia Pacific market represents the largest demand
for high speed motor owing to the increasing instances of industrialization.
The rapidly increasing commercial development along with favorable policies
created by the government related to FDI is estimated to surge the demand for
high speed motor in the APAC market. Moreover, the various government
initiatives based on the ‘Make in India’ program has significantly driven the demand for high speed motor in the
APAC market. Europe market holds the second largest position that is estimated
to grow owing to considerable contribution from emerged economies such as U.K.,
France, and Germany. The prevalence of well-established manufacturing sector in
this market spurs the demand for high speed motor to a large extent.
Key Players
The global high speed motor market is led by key
players such as ABB (Switzerland), GE (U.S.), Siemens (Germany), Mitsubishi
(Japan), Miedensha (Japan), Emerson (U.S.), Nidec (Japan), Hitachi (Japan),
Synchrony (U.S.), Toshiba (Japan), Danfoss Turbocor (U.S.), Fuji Electric
(Japan), Regal Beloit (U.S.), SKF magnetic mechatronics (Sweden), LTI Motion
(Germany), and Turbo Power Systems (TPS) (U.K.).
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