Global High Speed Motor Market
Analysis
The
global High-Speed
Motor Market Size is predicted to grow at a 4.25% CAGR over the
forecast period (2017-2023), reveals the Market Research Future (MRFR) report.
A high-speed motor is used in applications which need higher rotational speed. It
provides a rotational speed of more than 10,000 rpm. Due to its high speed, the
motor’s power density is also high. The use of a high-speed motor will ensure
lesser noise and high transmission efficiency. It has small inertia that
results in a faster dynamic response.
Various
factors are driving the growth of the high-speed motor market. These factors,
in accordance with the Market Research Future (MRFR) report, include the
popularity of speed motors in different industries, expanded government
activity, government initiatives to build the proficiency of high-speed motors,
and various vitality productive assessment projects.
On
the contrary, the complexity of design and structure of high-speed motors may
impede the high-speed motor market growth over the forecast period.
High Speed Motor Market
Segmentation
The
Market Research Future report offers a wide segmental analysis of the
high-speed motor market based on application, power range, and product.
Based
on product, the high-speed motor market is segmented into permanent magnet
motor, induction motor, and others. Of these, the permanent magnet motor
segment will have the largest share in the market over the forecast period.
Permanent magnet motor produces high torque and is used in numerous
applications, which need milling and grinding machines. The growing demand for
motors that offer high efficiency is predicted to drive the demand for
permanent magnet motor.
Based
on the power range, the high-speed motor market is segmented into low voltage
and high voltage. Of these, the low voltage segment will dominate the market
over the forecast period. This is owing to the fact that low voltage motors
operate at less than 1000 V and also produces an output of 1000 kW. It is this
ability to offer high output with a low voltage that will push the market
growth of this segment in the future.
Based
on application, the high-speed motor market is segmented into bearings,
compressor, power generation, machine tools, and others. Of these, the power
generation segment will lead the market over the forecast period. This is owing
to increasing demand and use of high-speed motors in wind turbines, hydropower
plants, and others.
Regional Analysis
Based
on the region, the high-speed motor market report covers growth opportunities
and the latest trends across the Asia Pacific, Europe, North America, and Rest
of the World. Of these, Asia Pacific will dominate the market over the forecast
period owing to the growing industrial sector. The government is focusing on
infrastructure development due to which there will be massive scope for the
market in this region. The rapidly increasing commercial development with
promising policies by the government regarding FDI is likely to push market
growth. Moreover, with favorable initiatives undertaken by the government, the
scope of market growth in the APAC region is immense.
The
high-speed motor market in Europe will have the second largest share in the
market over the forecast period. France, the UK, and Germany are the key
contributors here. The presence of a well-established manufacturing sector in
the region offers manufacturers more scope of growth. Moreover, with the
presently booming industry in the region, the market is likely to flourish.
The
high-speed motor market in North America is predicted to have a favorable
growth over the forecast period due to the existence of leading players with
high investment in R&D. The increased investment in R&D will lead to
product innovations that meet government standards. This, in turn, will drive
the market growth in this region.
Key Players
Leading
players profiled in the high-speed motor market report include LTI Motion
(Germany), Turbo Power Systems (TPS) (UK), Regal Beloit (US), SKF Magnetic
Mechatronics (Sweden), Danfoss Turbocor (US), Fuji Electric (Japan), Synchrony
(US), Toshiba (Japan), Nidec (Japan), Hitachi (Japan), Miedensha (Japan),
Emerson (US), Siemens (Germany), Mitsubishi (Japan), ABB (Switzerland), GE
(US), and others.
