Press release
High Speed Motor Market Size, Share, Business Growth and Forecast To 2023 by Mitsubishi, Siemens, Emerson, Miedensha, Hitachi, Nidec, Toshiba, and Synchrony
Market SynopsisHigh speed motors achieve a rotational speed of over 10,000 rpm. The power density of the motor is high due to the high speed and the power voltage is also comparatively less as compared to other medium speed motors. The major use of high speed motor is to ensure transmission at a higher rate with lower noise generation. Due to the high speed of the motor there is small inertia generation which results in faster dynamic response. There are various government regulations that have been developed to increase the efficiency of motor and reduce energy consumption. In 2016, the global high speed motor market was valued at 11,658.4 with CAGR of 4.25 from 2017 to 2023.
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Market Highlights
The high speed motor is mainly used in applications that require higher rotational speed. The high speed motor provides a rotational speed of over 10,000 rpm. Owing to their high speed, the power density of the motor is also high and the power volume is comparatively too less as compared to the ordinary motor. The use of high speed motors ensure high transmission efficiency and lesser noise. The high speed of the motor has small inertia, which result in faster dynamic response. The use of high speed motor with variable frequency drive will improve efficiency and reduce energy consumption in motor. Variable frequency drive are used to provide low cost of energy, improved system reliability, and less maintenance cost.
Key Players
The prominent players in the High speed motor market include GE (U.S.), ABB (Switzerland), Mitsubishi (Japan), Siemens (Germany), Emerson (U.S.), Miedensha (Japan), Hitachi (Japan), Nidec (Japan), Toshiba (Japan), and Synchrony (U.S.). Fuji Electric (Japan), Danfoss Turbocor (U.S.), SKF magnetic mechatronics (Sweden), Regal Beloit (U.S.), Turbo Power Systems (TPS) (U.K.), and LTI Motion (Germany) are among others.
Industry Segmentation
The high speed motor market has been segmented based on product, power range, application, and region.
On the basis of product, the market has been segmented as induction motor, permanent magnet motor, and others. Permanent magnet motor has dominated the market during the forecast period because they produce high torque and are used in various applications that require the utilization of grinding and milling machines.
On the basis of power range, the market has been segmented as high voltage and low voltage. Low voltage segment has dominated the market during the forecast period because it operates at less than 1,000 V and produces an output of 1,000 kW..
On the basis of application, the market has been segmented as machine tools, power generation, compressor, bearings, and others. Power generation has dominated the market during the forecast period due to an increase in demand and use of high speed motors in hydropower plants, wind turbines, and others.
Regional Outlook
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World.
Asia Pacific region has dominated the high speed motor market due to an increase investment by the manufacturers to develop high-efficiency motors. In India, there have been increased government initiatives such as ‘Make in India”, which widen the scope of growth and development of high speed motors. Europe is the second largest market due to the presence of equipment manufactures in countries such as Germany, U.K. and France. There are established manufacturers in this region, which provide high technological innovation. The booming automotive industry in Europe is expected to create an opportunity for high speed motors. North America is the third largest market due to the presence of major manufacturers.
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LIST OF FIGURES
Figure 1 Global High Speed Motor Market: Market Structure
Figure 2 Key Takeaways Of The High Speed Motor Market
Figure 3 Key Buying Criteria Of High Speed Motor
Figure 4 Research Process Of MRFR
Figure 5 Top Down & Bottom Up Approach
Figure 6 Dro Analysis Of Global High Speed Motor Market
Figure 7 Value Chain: High Speed Motor Market
Figure 9 Global High Speed Motor Market, By Product, 2016 (% Share)
Figure 10 Global High Speed Motor Market, By Power Range, 2016 (% Share)
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