High Speed Motors Market Size to Grow USD 21.7 Billion by 2032 at a CAGR of 5.7% | Valuates Reports
BANGALORE, India, June 27, 2024 /PRNewswire/ -- High Speed Motors Market is Segmented by Product (Induction Motor, Permanent Magnet Motor, Others), By Power Range (High Voltage, Low Voltage), By Application (Machine Tools, Power Generation, Compressor, Bearings, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
According to a new report published by, titled, "High Speed Motors Market," The high speed motors market was valued at USD 12.6 Billion in 2022, and is estimated to reach USD 21.7 Billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032.
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Major Factors Driving the Growth of High Speed Motors Market:
The market for high-speed motors is expanding due to growing demand in a number of industries, including manufacturing, aerospace, and automotive, where performance and efficiency are crucial. Improvements in cooling systems and materials, along with other advances in motor technology, have greatly increased these motors' speed and longevity. High-speed motors that provide better performance with less energy consumption are also being adopted by industries due to the increasing focus on energy efficiency and the stricter emission laws. This need is further fueled by the growth of automation and robotics, as high-speed motors are crucial parts of these systems that enable accurate and dependable operation.
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TRENDS INFLUENCING THE GROWTH OF THE HIGH SPEED MOTORS MARKET:
The market for high-speed motors is expanding due to growing demand in a number of industries, including manufacturing, aerospace, and automotive, where performance and efficiency are crucial. Improvements in cooling systems and materials, along with other advances in motor technology, have greatly increased these motors' speed and longevity. High-speed motors that provide better performance with less energy consumption are also being adopted by industries due to the increasing focus on energy efficiency and the stricter emission laws. This need is further fueled by the growth of automation and robotics, as high-speed motors are crucial parts of these systems that enable accurate and dependable operation.
The market for high-speed motors is significantly influenced by the usage of permanent magnet motors in high voltage power range machine tools. High-performance machine tools require motors with great efficiency, precision, and power density, which permanent magnet motors provide. These motors provide machine tools the speed and accuracy boost they need to run at higher levels of sophistication, which is crucial for modern industrial processes like CNC machining, milling, and lathing. Permanent magnet motors are perfect for demanding industrial applications since they can continue to operate consistently even under high load situations. Permanent magnet motors are expected to become more in demand as a result of industries like electronics, aerospace, and automotive adopting high-speed, high-precision machining tools to improve productivity and product quality. This will fuel the growth of high-speed motors.
The demand for high-speed motors is also being driven by the rise in industrial automation. Manufacturing and other industrial sectors are adopting automation technology more frequently in order to increase output, accuracy, and operational efficiency. Because of their exceptional performance, dependability, and ability to offer precise control, high-speed motors are essential to automated systems. This demand is especially being driven by industries that largely rely on automation, such electronics, aerospace, and the automobile sector. The demand for high-speed motors is further increased by the continued trend towards smart manufacturing and the incorporation of sophisticated robotics and automated systems, which is driving market expansion.
The market for high-speed motors is expanding thanks in large part to the HVAC (Heating, Ventilation, and Air Conditioning) sector. High-speed motors are vital parts of HVAC systems because they supply compressors, air handling units, and other crucial parts with the power and efficiency they need. The need for modern HVAC solutions is driven by the need for energy-efficient building systems, urbanization, and an increase in construction activity. In these systems, high-speed motors aid in meeting the necessary performance and energy efficiency requirements. High-speed motor demand is predicted to increase in tandem with the HVAC industry's continued expansion, especially in emerging economies, hence bolstering market expansion.
The market is growing significantly because high-speed motors are being adopted by the automobile sector more and more. These motors are found in many different parts of electric and hybrid cars, such as compressors, auxiliary systems, and powertrains. More and more people are choosing to drive electric vehicles (EVs), which means that high-speed, efficient motors are needed to increase vehicle performance and range. Furthermore, cars with high-speed motors have lower total weight and better energy efficiency. The need for high-speed motors is predicted to rise significantly as the automotive sector continues to shift toward electric and hybrid vehicles.
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HIGH SPEED MOTORS MARKET SHARE
In the near future, permanent magnet motors are expected to dominate market growth, expanding at a faster CAGR of 6.0%. This can be explained by the fact that they are frequently utilized in hybrid or direct-drive (wheel-drive) electric vehicles (EVs) due to their high power density and efficiency. Auxiliary power units and electric propulsion systems in aircraft are two more uses for high-speed permanent magnet motors.
Over the projection period, the low voltage category is expected to develop at a higher CAGR of 6.0%. Opportunities for expansion arise from the growing use of low voltage high speed motors in consumer electronics. The demand for low voltage high speed motors is driven by the advancement of medical technology and precise devices.
During the projected years, the compressor sector is anticipated to dominate the growth of the high-speed motors market. High speed air compressors have prospects as industrial automation and pneumatic systems continue to increase. High speed turbochargers become more important as engine efficiency becomes a priority for the automobile industry.
Throughout the forecast period, North America is anticipated to lead the growth of the high-speed motors market. The demand for high speed motors to power robots, conveyor systems, and other automated equipment is driven by the development of automation in numerous industries.
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Key Companies:
- ABB Ltd
- General Electric
- Nidec
- Siemens AG
- Emerson Electric
- Meidensha Corporation
- Mitsubishi Electric
- Hitachi
- Toshiba Corporation
- Turbo Power Systems Limited
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- Automotive High-Speed Motor market is projected to reach USD 6326.2 Million in 2029, increasing from USD 1573 Million in 2022, with a CAGR of 23.1% during the period of 2023 to 2029.
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- High Efficiency Low Voltage Aluminum Motor Market revenue was USD 2959.5 Million in 2022 and is forecast to a readjusted size of USD 3828.1 Million by 2029 with a CAGR of 3.7% during the forecast period (2023-2029).
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