The new report by Expert Market Research titled, ‘Global High Speed Motor Market Size Report and Forecast 2023-2028’, gives an in-depth analysis of the global high speed motor market, assessing the market based on its segments like products, constructions, applications, rotational speed, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2023-2028)
• Forecast CAGR (2023-2028): 8.70%
The continuous development of electrification in several industries around the world has led to the advancement of Electric Motor Driven (EMD) solutions in terms of enhanced power and speed, offering new opportunities across multiple applications. The market for high-speed motors is being driven by increased government initiatives, energy-efficient evaluation programmes, and rising demand in industries. The government is taking initiatives to increase the efficiency of high-speed motors. The cash will be utilised to develop cutting-edge energy-efficient electric motor solutions. Various programmes have been developed to improve the energy efficiency of the motor. All these factors are driving the market for high-speed motors forward. In addition, the continued requirement to increase power density through increased efficiency has resulted in increased demand for high-speed motors, which is projected to move the high-speed motor market forward in the coming years.
Industry Definition and Major Segments
High-speed motors have a rotational speed of more than 10,000 revolutions per minute. A high-speed motor’s main goal is to provide faster transmission with less noise. Due to the rapid speed of the motor, little inertia is formed, resulting in a faster dynamic reaction. High-speed motors differ from typical micromotors in terms of technology and design process.
By product, the market is segmented into:
• AC Motors
• DC Motors
Based on construction, the market is divided into:
• Induction Motor
• Permanent Magnet Motor
The major applications of the market are:
• Industrial Machinery
• Aerospace and Transportation
• Power Generation
• Household Applications
By rotational speed, the market is divided into:
• 3000-6000 RPM
• 6000-10,000 RPM
• 10,000-15,000 RPM
• Above 15,000 RPM
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The rapid rise in commercial development and the government’s favourable FDI regulations are likely to boost demand for high-speed motors. The presence of well-established manufacturing industry provides extra growth opportunities for market players. Furthermore, it is predicted to rise as a result of the existence of top manufacturers who are investing more in research and development. Increased research and development spending will result in high product innovation that fulfills government standards. This is expected to result in the growth of the market in the forecast period. The increasing expenditure for developing medium and large-scale industries, such as mining, processing, manufacturing, construction, oil and gas require energy-efficient systems to pave the way for high-speed motor.
Key Market Players
The major players in the market are ABB, Hitachi, Regal Beloit Corporation, Meidensha Corporation, Fuji Electric Co., Ltd., Mitsubishi Electric, and Emerson, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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