High Speed Motor Market Highlights
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. A detailed analysis report of COVID-19 impact on Global High-Speed Motor Market is provided with the report. 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.
High Speed Motor Industry Segmentation
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.
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.
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Regional Outlook
The global report for High-speed motor market has been categorized in the region of North America, Asia Pacific, Europe and Rest of the World.
Asia Pacific region is expected to dominate the growth of global High-speed motor market over the forecast period. With the government seeking infrastructural developments in this region there is immense scope of growth of the high-speed motor market during the forecast period. Rapidly rising commercial development combined with favorable government policies regarding FDI, the region is poised for significant investment for major manufacturers in the coming years. Additionally, with government initiative in the form of
Key Players
The prominent players in the high-speed motor market include LTI motion (Germany), Turbo power systems (U.K.), Regal Beloit (U.S.), SKF magnetic mechatronics (Sweden), and 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) are among others.
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