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.
To understand how our report can bring difference to your business strategy, Ask for a brochure
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
Stuck in a neck-to-neck competition with other brands? Request a custom report on “Industrial High Voltage Motors Market”
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
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.