Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- Overview:
Fast-tracked industrialization demands assurance in seamless transmissions. That is getting burdened additionally by eco-friendly needs such as low noise level. High-speed motors, with a rotational speed of over 10,000 rpm can quite easily achieve that. This makes it a valid claimant of inclusion in priority list for many industries. Power density in such devices is quite high due to the High-Speed but power voltage is lesser than medium speed motors. Further reasons for its accolades from myriad industries. Its small inertia generation subsequently triggers faster dynamic response. With increasing span area, the global High-Speed Motor Market is all set to claim 4.25% CAGR during the forecast period (2017-2023). Market Research Future (MRFR) in its latest report on the high-speed motor market claims that the moderate CAGR would help in scaling of a remarkable valuation by the end of 2023.
Drivers & Restraints
The high-speed motor market is expected to capitalize on several factors such as government initiatives and energy-efficient evaluation programs. Government initiatives are bearing fruit as the market trend is slowly moving towards sustainable and renewable energy sources. Investments are cascading profusely towards innovation. The high-speed motor sector has learned it quickly that energy-efficient electric motors can be the answer for next-age technologies. Latest surveys on designs are also hinting at an intake of magnetic bearing chiller compressors which could boost the energy by 49%. This could increase investments for high-speed motors.
But the High-Speed motor market has its drawbacks. Its design complexity could restrain the expected growth. Elements required for the production are quite costly. Such a bottlenecking requires immediate amendment and only cheaper alternatives could steer away from any plummet. Innovations are opening up avenues that could lead to a curb in production cost.
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Key Players
The key players in high speed motor market are GE (U.S.), ABB (Switzerland), Mitsubishi (Japan), Siemens (Germany), Emerson (U.S.), Miedensha (Japan), Hitachi (Japan), Nidec (Japan), Toshiba (Japan), Synchrony (U.S.), and Fuji Electric (Japan). Danfoss Turbocor (U.S.), SKF magnetic mechatronics (Sweden), Regal Beloit (U.S.), Turbo Power Systems (TPS) (U.K.), and LTI Motion (Germany) are among others.
Segmentation
MRFR’s segmentation of the high-speed motor market banks on product, power range, and application.
Based on the product, the high-speed motor market includes induction motor, permanent magnet motor, and others. Permanent magnet motor has the upper hand in the market and expects to retain its position during the review period owing to its high torque and ability to influence the utilization of grinding and milling machines.
Based on the power range, the high-speed motor market comprises high voltage and low voltage. The low voltage segment has the maximum market coverage and the sector is going to flourish throughout the forecast period owing to its ability to operate at less than 1,000 V and with a production capacity of 1,000 kW.
Based on the application, the high-speed motor market consists compressor, bearings, machine tools, power generation, and others. The power generation segment has control over a significant portion of the market and it is expected to retain that dominance during the forecast period. This can be attributed to an increase in demand and use of high-speed motors in wind turbines, hydropower plants, and others. As per records of 2016, the power generation segment had control over 32.61% in the global High-Speed motor market. Whereas, the compressor segment had the charge of over 23.77% share in 2016.
Regional Analysis
To acknowledge growth pockets of the high-speed motor market, across the globe, MRFR includes regions, namely, North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). The growth in the industrial sector ensures the dominance of the APAC region. Government initiatives, spanning across the region, are witnessing fruition as the uptake of the high-speed motor is increasing. Favorable policies and commercial development are also ensuring growth for the market in future.
Europe’s prominence would depend mostly on prospects of Germany, the U.K., and France. The existing manufacturing sector is quite sturdy and the automotive sector is substantially strong; factors such as these are promoting the regional market.
The density of manufacturing industries in North America is quite high which provides much traction for the North American market. The region is also known for its high investment in the research and development sector. This will help the market grow comprehensively during the forecast period.
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Head-to-Head
In April 2019, the U.S. Department of Energy (DOE) announced USD 59 million grant for advanced vehicle technology research which would also ensure a substantial thrust for the high-speed motor market.
In February 2019, YASA, a name to reckon with in axial-flux electric motors, inked a collaboration with a leading OEM to develop better quality electric motor. The aim would be to change the market dynamics of electric and hybrid cars by providing them with powerful motors.
Related Reports
Permanent Magnet Motor Market Research Report: Information by Type (PMAC, PMDC, & Brushless DC), Power Rating (Up to 25kW, 25-100kW, 100-300kW, and 300kW & Above), End-User (Industrial, Commercial & Residential, & Healthcare), and Regions– Forecast till 2023
https://www.marketresearchfuture.com/reports/permanent-magnet-motor-market-6991
Low Voltage Switchgear Market Research Report: By Protection (Circuit Breaker Fuse), Product (Fixed mounting, Plug-in, Withdraw able), Installation (Indoor, Outdoor), Application (Smartphone Applications, Lighting As-A-Service) – Global Forecast till 2023
https://www.marketresearchfuture.com/reports/low-voltage-switchgear-market-5365
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.