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The global high speed motor market size is expected to experience significant growth by reaching USD 21.64 billion by 2028. This information is published by Fortune Business Insights in its report, titled “High Speed Motor Market Size, Share & COVID-19 Impact Analysis, By Product Type (AC Motors and DC Motors), By Construction (Induction Motors and Permanent Magnet Motors), By Application (Industrial Machinery, Aerospace & Transportation, Power Generation, Automotive, Household Applications, and Others), By Rotational Speed (3,000 – 6,000 RPM, 6,000 – 10,000 RPM, 10,000 – 15,000 RPM, and Above 15,000 RPM), and Regional Forecast, 2021-2028.” The report further mentions that the market stood at USD 11.43 billion in 2020 and is projected to exhibit a CAGR of 8.4% between 2021 and 2028.
Hitachi Automotive Announces Development of a New Vehicle Motor Subsidiary in the U.S.
In September 2020, Hitachi Automotive Electric Motor Systems Ltd. announced the establishment of Hitachi Automotive Electric Motor Systems America, Inc. in Kentucky, U.S. The establishment will develop, manufacture, and focus on the sales of electric motor vehicles. The production in the company is likely to commence at the start of 2022, taking into account the COVID-19 pandemic situation. The company informs that the new facility will strengthen its position in the lucrative electric vehicle market. Such initiatives are expected to favor the high speed motor demand across the globe.
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Increasing Energy Demand to Boost Industrial Infrastructure
The growing population rate globally has surged the energy demand tremendously. This rapid rise in energy demand is expected to propel the adoption of advanced power generation stations. Moreover, the increasing expenditure to develop medium and large-scale industries such as manufacturing, mining, construction, processing, and other applications has propelled the need for advanced energy-efficient systems. In addition to this, the companies in the market focus on strengthening their positions by introducing advanced products. For instance, in May 2021, Integral e-Drive introduced a new series for off-the-shelf electric motor systems, CTSM242. The new system provides higher density and is lightweight, with a maximum speed rating of 15,000 RPM. Therefore, these factors are expected to contribute to the global high speed motor market growth during the forecast period.
Facility Expansion by Prominent Companies to Amplify Their Market Positions
The market is experiencing fierce competition amongst the players operating in it. These players focus on proactive strategies such as facility expansion to ensure a wider horizon to market their advanced high speed motor portfolio in the forthcoming years. Besides, other key players are focusing on collaborations and partnerships to maintain their presence that will favor the growth of the market in the forthcoming years.
List of the Companies Operating in the Global Market:
Further Report Findings:
Table of Segmentation
Value (USD Billion)
Product Type; Construction; Application; Rotational Speed; and Region
By Product Type
By Rotational Speed