Press release
High Speed Motor Global Market Expected to Reach $20.8 Billion By 2028 with CAGR of 10.1% | key Players: ABB Ltd., Emerson Electric Co., Nidec Corporation, Hitachi Ltd., Eaton Corporation PLC
High Speed Motor Market
The Business Research Company presents an extensive market research report on the High Speed Motor Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The high speed motor market size has grown rapidly in recent years. It will grow from $12.83 billion in 2023 to $14.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to emerging market opportunities, global infrastructure development, energy efficiency regulations, precision machining applications, hvac and building automation. .
The high speed motor market size is expected to see rapid growth in the next few years. It will grow to $20.8 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to industrial automation and robotics, rising demand for electric vehicles (evs), renewable energy sector growth, industrial iot and industry 4.0, miniaturization and power density.. Major trends in the forecast period include development in magnetic bearings, high-speed motor applications in healthcare, data center expansion and cooling needs, energy efficiency focus, electrification in aerospace and aviation..
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Key Market Players:
Major companies operating in the high speed motor market report are ABB Ltd., Emerson Electric Co., Mitsubishi Electric Corporation, Meidensha Corporation, Nidec Corporation, Hitachi Ltd., Eaton Corporation plc, Allied Motion Technologies Inc., General Electric Company, Rockwell Automation Inc., Siemens AG, WEG Electric Corp., Toshiba Corporation, Robert Bosch GmbH, Delta Electronics Inc., Fuji Electric Co. Ltd., Parker-Hannifin Corporation, Yaskawa Electric Corporation, Regal Beloit Corporation, Danaher Motion LLC, Kollmorgen Corporation, Oriental Motor USA Corp., Schneider Electric SE, Johnson Electric Holdings Limited, Maxon Motor AG, Moog Inc., Aerotech Inc., Anaheim Automation Inc., Arc Systems Inc., Crouzet Automatismes SAS, Dunkermotoren GmbH
Market Drivers:
The increase in demand for energy is expected to propel the high-speed motor market. Energy refers to the power to perform tasks by means of the application of some force. Industrial development and technological advancements in both developed and emerging nations are driving up global energy demand. Rapid industrialization requires high-speed motors to help generate energy for industrial purposes. For instance, in April 2023, according to the Energy Information Administration, a US-based government agency, the United States witnessed a 2.6% increase in total electricity consumption in 2022 compared to the previous year. During the same year, there was a 3.5% rise in retail electricity sales to the residential sector and a 3.4% increase in retail electricity sales to the commercial sector compared to 2021. Therefore, increasing demand for energy is anticipated to fuel the high-speed motor market.
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https://www.thebusinessresearchcompany.com/report/high-speed-motor-global-market-report
The high speed motor market covered in this report is segmented -
1) By Product Type: AC Motors, DC Motors
2) By Construction: Induction Motor, Permanent Magnet Motor
3) By Power Range: High Voltage, Low Voltage
4) By Application: Industrial Machinery, Aerospace And Transportation, Power Generation, Automotive, Household Applications, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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