Market Size (2017)
2017
$12.08B
Vertical: EnPBase Year: 201810 Sections
Market Size (2017)
2017
$12.08B
Projected (2024)
2024
$15.90B
CAGR (2017–2024)
4.0%
4.0%Key Players
108+
The global high-speed motor market is expected to grow at 4.02% CAGR during the forecast period, 2018–2024. There has been an increase in government initiatives for electrical components development and a rise in demand for energy efficiency, which are likely to drive the global high-speed motor market during the forecast period.
The global high-speed motor market has been segmented based on product, voltage, application, end-use, and region. On the basis of voltage, the high-voltage motor segment accounted for the largest market share of 59.5% in 2018, with a value of USD 7,469.9 million; and is projected to grow at 4.22% CAGR during the forecast period. On the basis of product, the permanent magnet motor segment accounted for the largest market share of 54.6% in 2017, with a value of USD 6,850.0 million, which is projected to grow at the highest CAGR of 4.15%.
The High Speed Motor Market market is projected to grow at a CAGR of 4.0% from 2017 to 2024.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansHigh-speed motors refer to the motors, which have a rotation speed of over 1,500 rpm. High speed motors have high density, and high-power volume compared to traditional motors. Owing to their high speeds, the power density of the motors, is also high, and the power volume is lesser than ordinary motors. The use of high-speed motors ensures high transmission efficiency and reduced noise. The high-speed motor has small inertia and ensures a faster and more dynamic response. The various advantages of using such motors are decreased installation space for higher power and the elimination of gearboxes. These motors are used in machine tools, compressors, automotive components, and in the energy generating industry.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2017 – 2018
Forecast Period
2018 – 2024
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2024)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansMarket estimates by geography (2024)
InsightAsia Pacific leads with $7.34B by 2024, while North America is projected to grow fastest at a 4.2% CAGR.
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View Subscription Plans| REGION | 2017 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $2.14B | $2.54B | $2.86B | 4.2% | 15% |
| Europe | $3.07B | $3.58B | $3.96B | 3.7% | 21% |
| Asia Pacific | $5.50B | $6.52B | $7.34B | 4.2% | 39% |
| Middle East and Africa | $842.10M | $970.13M | $1.08B | 3.6% | 6% |
| Americas | $2.66B | $3.15B | $3.52B | 4.1% | 19% |
| Total | $14.22B | $16.77B | $18.76B | 4.0% | 100% |
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View Subscription PlansTotal Market Size
$18.76B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Machine Tools | $6.26B | 4.0% | 61% |
| Pump | $6.17B | 4.0% | 77% |
| Compressor | $4.40B | 4.0% | 67% |
| Others | $1.92B | 4.0% | 53% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on High Speed Motor Market covering market dynamics, competitive landscape, and strategic outlook.
The High Speed Motor Market market is projected to reach $15.90B by 2024, growing at 4.0% CAGR. The Machine Tools segment holds the largest share.
The global high-speed motor market is expected to witness high growth during the forecast period, owing to the factors such as oncreasing need for energy efficiency, rising use of high-speed motors in industries and favourable government initiatives. The high-speed motor is efficient than traditional motor, which is expected to drive the high-speed motor market. The rising use of Variable Frequency Drives (VFD) is the opportunity in marine high-speed motor market. However, the high cost of high-speed motors due to the need for high-quality motor elements, might hinder the growth of the market.
There are various government programs and developments being initiated in terms of technological advancements in order to improve the energy efficiency of high-speed motors. In September 2016, Copper Development Association (CDA) partnered with Advanced Energy, US to sponsor the educational institutions for developing proper motor management techniques, which would result in substantial energy saving. The magnetic bearing technology with numerous advantages such as silent operation, lightweight, low start-up power drawn, reduced maintenance cost, and 49% energy saving is used in high-speed motors. This will result in the increased demand for high-speed motors in the forecast period. Improved energy efficiency is important in achieving economic and social goals in developing countries, including improved access to energy services, improved affordability of energy services, and the availability of resources for other expenditures, improving environmental sustainability, and economic development.
Government regulations regarding the use of such advanced technology enhances the energy efficiency of high-speed motors and enables their adoption. High-speed motors are mostly used in many industrial applications, including gas and air compressors, centrifugal compressors, blower compressors, and aeration blowers. It is also used in industries such as food and beverage, and pharmaceutical. Therefore, rising expansion of industrial and commercial sector in every vertical including oil and gas, aerospace, and mining, drives the need for energy efficiency across all segments, which is expected to drive the market during the forecast period.
Electric motor‐driven equipment such as refrigerators, pumps, fans, compressors, materials handling, materials processing, and facility HVAC systems use 16% of the total electricity used in industrial applications. Therefore, motor control systems are installed with the variable frequency drives (VFD), to minimize the power consumption. The installation of VFD with motors delivers improved load control, more efficiency, adjustable torque limit, and controlled acceleration. The use of VFD to control the speed of the motor will lower the cost of energy, improve system reliability, reduce maintenance cost, and other process controls. There are various applications that require accurate speed control. For example, in the semiconductor industry, VFDs are used with motors to improve the current flow. A few other applications of VFDs with high-speed motors are material handling, machining, and fabrication.
The use of VFDs, alone is not recommended as they slow down the machine speed, resulting in insufficient torque and poor cooling. However, VFDs can be used with high-speed motors to improve the torque. So, the use of VFDs with high-speed motors, to optimize the cost and the control of the motor speed, is expected to be an opportunity in the high-speed motor market, during the forecast period.
High-speed motors operate at high rotational speed, which results in the high centrifugal forces on the rotor. Due to this, the materials used in the high-speed motor are extracted to their mechanical stress resistivity. Thus, high-quality elements are required in order to prevent failures of motor elements. But, the requirement of high-quality elements during the production of the high-speed motor adds to the manufacturing cost. Hence, the quality of the material plays a significant role in designing the cost of high-speed motor. The infrastructure required to perform these tests is highly complex and is not easily available in the market. Therefore, sometimes the related cost exceeds the cost incurred during the development process of a new motor element product line. Hence, the high cost of motors due to the requirement of high-quality motor elements, will hamper the market growth during the forecast period.
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Profiles of 108 companies operating in the High Speed Motor Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Meidensha Corporation
Company Headquarters: Tokyo, Japan Founded: 1897 Workforce: ~8,995 Company Working: Meidensha Corporation (Meidensha), is a Japan-based diversified company with operations in energy, water management, information, communication, industrial systems, construction and maintenance of heavy electrical components, and semiconductor industries. The company is also engaged in manufacturing and marketing energy equipment for power generation, conservation, transmission, transformation, and distribution. It operates through three business segments, which are social infrastructure systems, industrial systems, and maintenance and servicing. High-speed motors are included under the company’s industrial systems segment. Meidensha operates in Japan, India, China, Indonesia, Korea, Malaysia, Singapore, the UK, Thailand, the US, and the UAE. The company’s manufacturing units are mainly located in Asia-Pacific, Europe, and the Middle East. Meidensha has 35 subsidiaries. Prime Meiden Ltd, Meiden America, Inc., and Meiden Chemical Co. Ltd, are its major subsidiaries. The company has 19 subsidiaries in Japan and 18 in overseas. This contributes to its wide geographical presence.
SKF
Company Headquarters: Gothenburg, Sweden Founded: 1907 Workforce: ~45,678 Company Working: SKF is a global leader in delivering technology for bearings and units, seals, mechatronics, services, and lubrication systems. In order to achieve breakthroughs in energy efficiency, friction reduction, and equipment longevity and reliability, the company operates through two business segments, which are industrial and automotive. High-speed motors fall under its industrial segment. The company provides industrial drives, heavy industrial machines, and special machinery, which cater to a wide range of end users, such as industries, aerospace, energy, railway, off-highway. SKF invests in research and development activities to develop advanced technology for almost every industry vertical. For instance, in 2017, the company spent 3.1% of its net sales on research and development. SKF has 51 subsidiaries. Lincoln Industrial Corporation, Kaydon Corporation, and SKF Economos GmbH are its key subsidiaries. The company has an extensive geographical presence in 130 countries across the globe with more than 17,000 distributors and manufacturing facilities in 24 countries.
Bosch Group
Company Global Headquarters: Germany Founded: 1886 Workforce: 286,084 Company Overview: Bosch Group is one of the leading global suppliers of technology and services. The company operates through four business segments—mobility solutions, consumer goods, industrial technology, and energy and building technology. The company comprises Robert Bosch GmbH and around 440 subsidiaries and regional companies in around 60 countries. One the subsidiaries of Bosch Group is Bosch Security Systems Inc. which was founded in 1968 and has around 1,200 employees. Bosch Security Systems Inc. has its wide product portfolio which includes intrusion detection, fire detection, video surveillance, and voice execution systems. It is a privately held company and has broadly segmented its operations in two segments: Bosch security & safety solutions and energy & building solutions. Bosch security systems segment offers a complete range of specialized services and products for standard or customized applications. The company operates in Mexico, the US, China, Germany, and Portugal and has distribution partners in more than 150 countries. It also caters to various industry verticals such as banking, retail, education, commercial, hospital, hotel, and transportation. The company develops and manufactures security systems in its own production facilities in Europe, the Americas, and Asia.
NIDEC MOTOR CORPORATION
Company Headquarters: Japan Founded: 2010 Workforce: ~340,000 Company Working: Nidec Motor Corporation manufactures products, such as AC motors, DC motors, generators, electronically commutated (EC) motors, servo motors, switched reluctance motor, and IIoT Wireless Equipment Monitoring system. These products are used in applications, such as agriculture, food & beverage, metal, mining, packaging, robotics, waste & water treatment, HVAC, oil & gas, and refrigeration. Nidec Motor Corporation offers its products through trusted brands, such as Control Techniques, Hurst Motors. Kato Engineering, Leroy-Somer, Merkle-Korff Industries, SR Drives, and US Motors. The company operates through four product categories, which are small precision motors, automotive, appliance, commercial and industrial products, electronic and optical components, machinery, and others. High-speed motors are included under its small precision motors and automotive, appliances, commercial and industrial products categories. Nidec Motor Corporation is closely associated with almost 300 group companies, worldwide. It operates in the US, Canada, Mexico, Colombia, Central America, Chile, Argentina, Uruguay, Paraguay, Peru, Bolivia, Ecuador, China, Australia, and New Zealand. The company’s research and development department efforts are aimed at developing world-class variable frequency drive technologies and custom-engineered elevator components. Nidec Motor Corporation has several subsidiaries including Nidec Electronics, Nidec Singapore, Nidec (H.K.), Nidec Sankyo, Nidec Copal, Nidec Techno Motor, and Nidec Motors & Actuators. Honeywell International Inc., Parker Hannifin Corp, Rockwell Automation Inc., are a few of the competitors of the company.
MITSUBISHI ELECTRIC CORPORATION
Company Headquarters: Japan Founded: 1921 Workforce: ~ 146,518 Company Working: Mitsubishi Electric Corporation is a multinational electronics and electrical equipment company. Mitsubishi Electric Corporation has a diverse range of products and services, including power generation and transmission systems, industrial automation systems, electronic devices, home appliances, information and communication systems, and space systems. Its products are used in a wide range of industries, including automotive, aerospace, energy, and telecommunications. Mitsubishi Electric Corporation is a major player in the robotics arms market, with a range of products that includes SCARA robots, vertical articulated robots, and collaborative robots. The company's robots are designed to be highly versatile and easy to integrate with other systems, making them suitable for a wide range of applications. Mitsubishi Electric Corporation's robots are known for their precision and speed, and they are used in a variety of industries, including automotive, electronics, and food and beverage. The company has a strong focus on research and development, and it invests heavily in developing new technologies and improving existing ones. This has enabled Mitsubishi Electric Corporation to remain competitive in the robotics arms market and to meet the evolving needs of its customers. In addition to its robotics arms products, Mitsubishi Electric Corporation also offers a range of other automation solutions, including programmable logic controllers, human machine interfaces, and industrial robots. The company's commitment to innovation, quality, and customer satisfaction has helped it to establish a strong reputation in the global automation industry. The company has grown to become one of the largest and most respected electronics companies in the world, with operations in over 40 countries and regions.
Hitachi Ltd
Company Headquarters: Japan Founded: 1910 Workforce: ~295,950 Company Working: Hitachi Ltd manufactures and sells electrical equipment. The company operates through information and telecommunication systems, social infrastructure and industrial systems, electronic systems and equipment, construction machinery, high functional materials and components, automotive systems, smart life and eco-friendly systems, and financial services segments. The information and telecommunication systems segment offer outsourcing services, system integration, disk array subsystems, servers, software, mainframes, telecommunications equipment, and automated teller machine (ATM) services. The social infrastructure and industrial systems segment provide industrial equipment, infrastructure products and services, and energy-saving solutions to help reduce environmental impact and promote urban development. The electronic systems and equipment segment manufacture semiconductors, test and measurement equipment, medical electronics equipment, liquid crystal display (LCD), power tools, and electronic parts manufacturing systems. The construction machinery segment offers products for building and structural demolition, civil engineering and construction, mining and excavation such as hydraulic excavators, wheel loaders, and mining dump trucks. The high functional materials and components segment produces wires and cables, circuit boards and materials, semiconductors and display-related materials, magnetic materials and components, specialty steels, and high-grade casting components and materials. The automotive systems segment offers engine management systems, drive control systems, electric power train systems, and car information systems. The smart life and eco-friendly systems segment provides energy-efficient home appliances, refrigerating and air-conditioning solutions, and lighting and housing equipment. The company also offers logistics and property management services. The financial services segment deals with leases, loan guarantees, and insurance services, and conducts business in the area of securitization. Hitachi Ltd operates in North America, Europe, and Asia-Pacific.
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High Speed Motor Market