Industrial High Voltage Motors Market Size shall reach a value of $35.8 Billion in 2027, growing with a CAGR of 3.63% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Industrial high voltage motors are largely analyzed as customized products. These kinds of industrial high voltage motors are progressively being customized as per the clients detailed requirement to fulfill the need for industrial operation. Motors with a rated output of 720 HP (horsepower) and a voltage rating of 6.6 kV and above are regarded as high voltage motors.
Industrial high voltage motors have large testing capacities and thus, they are capable of performing in challenging industrial environments. Customized industrial high voltage motors are relatively being adopted among various industries such as water & wastewater treatment, oil & gas, chemicals & petrochemicals, power generation, metal processing, and the utility sector.
Industrial motors are utilized in mills and crushers, working machinery, vehicles, fans and compressors, drilling, conveyers, separations, and beneficial equipment. Industrial motors have a long-lasting life and it doesnt require maximum maintenance. Hence, they are widely used in different industries for power tools, household appliances, machine tools, etc.
Industrial High Voltage Motors Market Growth and Trends
Driving factors for the industry :
• These industrial high voltage motors are generally customized for the client with specific necessity to meet the demands of the various industrial operations, thereby boosting the growth and demand of the industrial motors market in the upcoming years.
• Industrial high voltage motors with voltage range of 6.6KV and above and rated output of 728HP are regarded as high voltage motors and are in huge demand for various application from various industries all over the world.
• Industrial high voltage motors are installed and diversely applied in various end-use industries like oil and gas, water and wastewater treatment, chemicals and petrochemicals, power generation, various metal processing sectors among others all over the world.
• Industrial high voltage motors are in huge demand due to their maximum testing capabilities and are competent enough to challenge the competitive industrial environment. This causes a huge enhancement in the growth of the global market during the forecasted period.
• The industrial high volage motors have longer life span and are associated with absolutely minimal maintenance. They are projected to face huge demand in various industrial application for machine tools, power tools, other household appliances etc., thereby boosting the growth of the market globally in the upcoming years.
• These industrial motors are highly demanded in fields like vehicles, mills and crushers, machinery works, fans and compressors, drilling conveyers, separation and other beneficial equipment, in turn boosting the growth of the global market.
• Industrial high voltage motors are also extensively used in centrifugal pumps, diagnostic equipment, electric wheelchair, hospital bed, insulin and other medicinal pumps, increasing the demand of these motors in these respective fields.
• Another major factor responsible for growth of the industrial high voltage motors market is the increasing concentration on energy efficiency due to high power consumption by these motors in various industrial sectors, thereby accelerating these global market growths.
• Introduction industrial internet of things (IIOT) are responsible for influencing better development and demand of these industrial motors in automotive, construction and other industrial sectors.
Challenges for the industry :
• Presence of large-scale companies are responsible for high competition of these motors which are engaged in product innovation in order to sustain in the competitive market.
• High initial and maintenance cost is responsible for obstructing the market growth.
Industrial High Voltage Motors Market Regional Analysis
Industrial High Voltage Motors Market Share and Competition
Key companies operating in this industry are: ABB, Siemens AG, General Electric Company, Toshiba Corporation, WEG, TECO Energy Inc., and CG Power and Industrial Solutions Limited. Similar industries in this domain that is growing at a high CAGR include Wiper Motor Market and Radial Flux Motor Market.
Industrial High Voltage Motors Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
End-user Analysis (Revenue, USD Million, 2020 - 2027)
• Oil & Gas Industry
• Chemicals & Petrochemicals Industry
• Water & Wastewater (W&WW) Treatment Industry
• Utilities Sector
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Industrial High Voltage Motors Market Companies
• Siemens AG
• General Electric Company
• Toshiba Corporation
• TECO Energy Inc.
• CG Power and Industrial Solutions Limited
Available Versions: -
United States Industrial High Voltage Motors Market Research Report
Europe Industrial High Voltage Motors Market Research Report
Asia Pacific Industrial High Voltage Motors Market Research Report
India Industrial High Voltage Motors Market Research Report
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