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High Speed Motor Market to Hit $21.64 Billion by 2028; Stoked by Increasing Energy Demand Worldwide

July 27, 2021 | Energy & Power

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.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/high-speed-motors-market-103538


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.


Industry Development



  • August 2020 – Hitachi Ltd. announced its plan to collaborate with Zenobē Energy. The aim is to develop an advanced traction power solution that will produce power through batteries to propel rail traction power systems in the U.K.


List of the Companies Operating in the Global Market:



  • ABB (Switzerland)

  • Hitachi (Japan)

  • Regal Beloit Corporation (U.S.)

  • MEIDENSHA CORPORATION (Japan)

  • Fuji Electric Co., Ltd. (Japan)

  • Mitsubishi Electric (Japan)

  • Emerson (U.S.)

  • Toshiba (Japan)

  • SKF Group (Sweden)

  • Nidec Motor Corporation (Japan)

  • TURBO POWER SYSTEMS (TPS) (UK)

  • Siemens (Germany)

  • Eaton (Ireland)


Further Report Findings:



  • Asia-Pacific stood at USD 4.00 billion in 2020 and is expected to hold the largest global high speed motor market share in terms of revenue during the forecast period. This is attributable to the significant transformation of industrial infrastructure and the supportive policies of local administration to ensure lower carbon emission levels in the region.

  • The market in North America is expected to showcase exponential growth owing to the increasing investment by companies across several industrial operations that will boost the adoption of advanced high speed motor in the region.

  • Based on application, the industrial machinery segment held a market share of about 31.6% in 2020 and is likely to experience considerable growth during the foreseeable future. This is ascribable to factors such as the proactive steps by the government agencies to transform the remote landscape that will favor the adoption of these motors globally.


Table of Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



Segmentation



  Product Type; Construction; Application; Rotational Speed; and Region



By Product Type




  • AC Motors

  • DC Motors



By Construction




  • Induction Motor

  • Permanent Magnet Motor



By Application




  • Industrial Machinery

  • Aerospace & Transportation

  • Power Generation

  • Automotive

  • Household Applications

  • Others



By Rotational Speed




  • 3,000 – 6,000 RPM

  • 6,000 – 10,000 RPM

  • 10,000 – 15,000 RPM

  • Above 15,000 RPM



By Geography




  • North America (By Product Type, By Construction, By Application, By Rotational Speed, By Country)

    • U.S

    • Canada



  • Europe (By Product Type, By Construction, By Application, By Rotational Speed, By Country)

    • UK

    • Germany

    • France

    • Russia

    • Italy

    • Spain

    • Rest of Europe



  • Asia Pacific (By Product Type, By Construction, By Application, By Rotational Speed, By Country)

    • China

    • India

    • Japan

    • Australia

    • Rest of Asia Pacific



  • Latin America (By Product Type, By Construction, By Application, By Rotational Speed, By Country)

    • Brazil

    • Mexico

    • Rest of Latin America



  • The Middle East & Africa (By Product Type, By Construction, By Application, By Rotational Speed, By Country)

    • GCC

    • South Africa

    • Rest of the Middle East & Africa




Global High Speed Motor Market
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  • 2020
  • 2017-2019
  • 270

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