Market Highlights
High speed motor market was valued at 11,658.4 with CAGR of 4.25 from 2017 to 2023.
The global High-speed motor market is expected to experience immense opportunities over the forecast period with the use of variable frequency drive. The motor system are responsible for more than 65% of energy consumption. To minimize power consumption, the motor control system must be installed with variable frequency drives, which reduces the energy consumption. The High-speed motor with variable frequency drive will result in lower energy consumption. Many manufacturers are adopting the use of variable frequency drive to optimize the cost of production. If the variable frequency drive is not installed with High-speed motor, then the speed control is quite difficult. To optimize the cost and control the speed of motor, High-speed motor with VFDs is expected to boost the market in future.
Market Research Analysis
Based on types of product, the market has been segmented as induction motor, permanent magnet motor and others. Amongst this, the induction motor segment is expected to dominate the growth of the market. The induction motor has two parts namely, a stator and a rotor. The rotor produces the final torque or output of the machine and the stator has electrical windings, which have an alternating current (AC) supplied to it. The high-speed induction motors are used extensively for applications that require the utilization of grinding and milling machines. One of the major concerns is the efficiency of high-speed induction motors. The efficiency of low-speed electric motors is generally higher. Therefore, making a more efficient high-speed motor is necessary to compete in the market.
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By application, the market has been segmented as machine tools, power generation, compressor, bearings and other. The power generation segment is expected to dominate the market. The induction generators use the principles of induction motors for producing power. These generators function by turning their rotors faster than synchronous speed. Asynchronous motor is also being used as a generator, without any internal modifications. Induction generators can recover energy with relatively simple controls and are therefore useful in applications such as mini-hydropower plants, wind turbines, or in reducing high-pressure gas streams to lower pressure.
Scope of the Report
This study provides an overview of the High-Speed Motor Market Size, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global High-speed motor market by product, power range, application and regions.
By Product
- Induction Motor
- Permanent Magnet Motor
- Others
By Power Range
- High Voltage
- Low Voltage
By Application
- Machine Tools
- Power Generation
- Compressor
- Bearings
- Other
By Regions
- North America
- Asia Pacific
- Europe
- Rest of the World
Key Players
- LTI motion (Germany)
- Turbo power systems (U.K.)
- Regal Beloit (U.S.)
- SKF magnetic mechatronics (Sweden)
- Danfoss Turbocor Compressors Inc. (U.S.). Fuji Electric Co. Ltd. (Japan)
- Synchrony (U.S.)
- Toshiba Corporation (Japan)
- Nidec Motor Corporation (U.S.) and Meidensha Corporation (Japan)
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Table Of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 16
2.2 Scope Of The Study 16
2.3 List Of Assumptions 17
2.4 Market Structure 17
2.5 Key Takeaways 18
2.6 Key Buying Criteria 18
3 Research Methodology
3.1 Research Process 20
3.2 Primary Research 20
3.3 Secondary Research 20
3.4 Market Size Estimation 20
3.5 Forecast Model 22
Continued…
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