Industrial High Voltage Motors Market: Introduction
- Motors with voltage rating of 6.6 kV and above and rated output of 720 HP (horsepower) are considered as high voltage motors
- Industrial high voltage motors are primarily considered as customized products. These type of industrial high voltage motors are increasingly being customized as per client’s specific requirement to meet the need of industrial operation
- Customized industrial high voltage motors are significantly being adopted among different end-use industries such as oil & gas, water & wastewater treatment, chemicals & petrochemicals, power generation, metal processing, and utilities sector among others.
- Industrial high voltage motors have full testing capabilities and thus, they are able to perform in challenging industrial environment
- Industrial motors have long life and require minimum maintenance. Thus, they are widely used in varied industries for machine tools, power tools, household appliance etc.
- Industrial motors are used in vehicles, mills and crushers, working machinery, fans and compressors, drilling, conveyers, separations and beneficial equipment.
- In addition, motors are used in centrifuge pumps, diagnostic equipment, electric wheelchair and hospital beds, insulin and medicine pump.
- Industrial high voltage motors market is highly competitive owing to the presence of large-scale companies. They are engaged in product innovation to sustain in this competitive environment.
Industrial High Voltage Motors Market: Dynamics
- Increase in focus on energy efficiency in industrial sector due to high power consumption of motors used in industrial sector is one of the major factor driving the industrial high voltage motors market in the next few years
- Industrial high voltage motors can be customized in terms of efficiency, voltage, and application. This is expected to promote the demand for industrial high voltage motors, thereby driving the market.
- Technological advancements such as Industrial Internet of Things (IIoT), offer ample opportunities for motor manufacturers to develop advanced industrial high voltage motors that can be utilized in diverse applications in different industries including automotive, construction and other industrial sectors
- In addition, integration of automation technique in industrial sector has augmented the demand for industrial high voltage motors
- However, high initial investment associated with purchase of industrial high voltage motors is expected to limit the growth of the market
- In addition, high maintenance cost is anticipated to hamper the adoption of energy-efficient motors among users in various industrial sectors. This, in turn, is expected to restrain the industrial high voltage motors market in the near future.
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Industrial High Voltage Motors Market: Segmentation Analysis
- Based on end-user, the industrial high voltage motors market can be segmented into oil & gas industry, chemicals & petrochemicals industry, water & wastewater treatment industry, utilities sector and others.
- The oil & gas industry segment accounted for major share of the industrial high voltage motors market in 2018. This industry segment is anticipated to increase its market share and maintain its leading position in the global market during the forecast period
Asia Pacific to Lead Global Industrial High Voltage Motors Market
- In terms of region, the global industrial high voltage motors market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- Asia Pacific is likely to dominate the global industrial high voltage motors market from 2019 to 2027
- The market in Asia Pacific is anticipated to expand significantly in the near future. Oil & gas industry in Asia Pacific has been witnessing rapid expansion in the last few years. This is expected to be a major factor driving the demand for industrial high voltage motors, thereby promoting the growth of the market in the region.
Key Manufacturers Operating in Market
The global industrial high voltage motors market was moderately fragmented in 2018. Key manufacturers operating in the global market are:
- Siemens AG
- General Electric Company
- Toshiba Corporation
- TECO Energy Inc.
- CG Power and Industrial Solutions Limited
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Global Industrial High Voltage Motors Market: Research Scope
Industrial High Voltage Motors Market, by End-user
- Oil & Gas Industry
- Chemicals & Petrochemicals Industry
- Water & Wastewater (W&WW) Treatment Industry
- Utilities Sector
Global Industrial High Voltage Motors Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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