The high speed motor global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
High Speed Motor Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The high speed motor market size has grown rapidly in recent years. It will grow from $12.83 billion in 2023 to $14.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to emerging market opportunities, global infrastructure development, energy efficiency regulations, precision machining applications, hvac and building automation. .
The high speed motor market size is expected to see rapid growth in the next few years. It will grow to $20.8 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to industrial automation and robotics, rising demand for electric vehicles (evs), renewable energy sector growth, industrial iot and industry 4.0, miniaturization and power density. Major trends in the forecast period include development in magnetic bearings, high-speed motor applications in healthcare, data center expansion and cooling needs, energy efficiency focus, electrification in aerospace and aviation.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increase in demand for energy is expected to propel the high-speed motor market. Energy refers to the power to perform tasks by means of the application of some force. Industrial development and technological advancements in both developed and emerging nations are driving up global energy demand. Rapid industrialization requires high-speed motors to help generate energy for industrial purposes. For instance, in April 2023, according to the Energy Information Administration, a US-based government agency, the United States witnessed a 2.6% increase in total electricity consumption in 2022 compared to the previous year. During the same year, there was a 3.5% rise in retail electricity sales to the residential sector and a 3.4% increase in retail electricity sales to the commercial sector compared to 2021. Therefore, increasing demand for energy is anticipated to fuel the high-speed motor market.
Market Trends –
Constant research and development activities are the key trend gaining popularity in the high-speed motor market. Major players are concentrating on research and development activities to create innovative technologies to sustain their position in the high-speed motor market. For instance, in January 2023, Fairbanks Morse Defense, a US-based company, launched its first high-speed engine, the nForcer FM 175D, designed for high-speed applications and expanding its naval defense capabilities. The engine is intended for use in unmanned surface vessels (USVs) and other high-speed applications, providing a reliable and efficient power source for naval operations. The nForcer FM 175D engine offers a power output of 175 horsepower and is designed to meet the specific needs of the US Navy’s unmanned programs.
The high speed motor market covered in this report is segmented –
1) By Product Type: AC Motors, DC Motors
2) By Construction: Induction Motor, Permanent Magnet Motor
3) By Power Range: High Voltage, Low Voltage
4) By Application: Industrial Machinery, Aerospace And Transportation, Power Generation, Automotive, Household Applications, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the high-speed motor market in 2023. The regions covered in the high speed motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the high speed motor market report are ABB Ltd., Emerson Electric Co., Mitsubishi Electric Corporation, Meidensha Corporation, Nidec Corporation, Hitachi Ltd., Eaton Corporation plc, Allied Motion Technologies Inc., General Electric Company, Rockwell Automation Inc., Siemens AG, WEG Electric Corp., Toshiba Corporation, Robert Bosch GmbH, Delta Electronics Inc., Fuji Electric Co. Ltd., Parker-Hannifin Corporation, Yaskawa Electric Corporation, Regal Beloit Corporation, Danaher Motion LLC, Kollmorgen Corporation, Oriental Motor USA Corp., Schneider Electric SE, Johnson Electric Holdings Limited, Maxon Motor AG, Moog Inc., Aerotech Inc., Anaheim Automation Inc., Arc Systems Inc., Crouzet Automatismes SAS, Dunkermotoren GmbH
Table of Contents
1. Executive Summary
2. High Speed Motor Market Report Structure
3. High Speed Motor Market Trends And Strategies
4. High Speed Motor Market – Macro Economic Scenario
5. High Speed Motor Market Size And Growth
…..
27. High Speed Motor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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