High-Speed Motor Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. High-Speed Motor Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
According to Market Research Future (MRFR)’s analysis, the global high speed motor market is set to mark a CAGR of 4.25% during the forecast period 2017 to 2023. The growth of the market is dictated by the initiatives undertaken by the governments for enhancing the efficiency of these motors. Additionally, energy efficient evaluation programs coupled with increasing demand for high speed motor in industries are expected to propel the expansion of the high speed motor market over the next couple of years.
Investments are poised to flow towards the technological advancements of the products. The market has witnessed many developments for enhancing energy efficiency of the motor. For instance, the U.S. General Services Administration (GSA) conducted a program in 2012 for assessing the benefits of magnetic bearing chiller compressors. It resulted in 49% increase of energy of the high speed motor which generated demand for magnetic bearing in high speed motor. These trends are likely to augment the high speed motor market over the next couple of years.
The design complexity is a major restraint of the market growth as the production of high speed motor requires high quality elements. The cheaper quality raw materials may damage the high speed motor. This is projected to restrain the market expansion through the review period.
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Some of the key players profiled in the report are GE (U.S.), Mitsubishi (Japan), Siemens (Germany), Emerson (U.S.), ABB (Switzerland), Miedensha (Japan), Hitachi (Japan), Toshiba (Japan), Synchrony (U.S.). Fuji Electric (Japan), Nidec (Japan), Danfoss Turbocor (U.S.), Regal Beloit (U.S.), Turbo Power Systems (TPS) (U.K.), SKF magnetic mechatronics (Sweden), and LTI Motion (Germany).
On the basis of product, the high speed motor market has been segmented into induction motor, permanent magnet motor, and others.
On the basis of power range, the global high speed motor market has been segmented into high voltage and low voltage.
On the basis of application, the high speed motor market has been segmented into machine tools, power generation, compressor, bearings, and others.
The high speed motor market, by region, has been segmented into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is currently dominating the global market for high speed motors. The market is likely to remain highly lucrative owing to the extensive support extended by the governments there. For instance, the ‘Make in India’ drive by Indian government is expected to boost the growth and development of the country-level market in the upcoming years. Furthermore, the commercial and industrial development of the region coupled with rising infrastructural projects are poised to drive the expansion of the high speed motor market in Asia Pacific.
Europe has secured the second spot in the global high speed motor market. It is projected to augment further over the assessment period due to the presence of key manufacturers coupled with flourishing automotive industry. The major country-level markets of the region are Germany, the U.K. and France.
North America is an important regional market and is prognosticated to exhibit substantial growth over the next couple of years. The growth can be ascribed to the presence of leading manufacturers, high investment in research and development, and innovations in product lines.
In May 2018, Belgian startup Magnax has developed ultra-high power, lightweight, compact axial flux electric motor.
In November 2018, Torqueedo, electric boat motor specialist, announced new electric boat motors for 2019. The new Deep Blue Line will come in two variations a high speed version for planing boats and a low speed version for displacement boats.
In November 2018, CRRC Zhuzhou Locomotive Co. Ltd., China’s train maker, debuted two types of high speed trains, one of which has a permanent magnet synchronous motor.
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