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.
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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.
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
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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:
- ABB
- Siemens AG
- General Electric Company
- Toshiba Corporation
- WEG
- TECO Energy Inc.
- CG Power and Industrial Solutions Limited
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