Medium and High Voltage Motors Market Competitive Situation and Trends 2022

Global medium and high voltage motors market is expected to display enormous growth in the forthcoming years. Increasing electricity consumption across emerging economies is expected to drive the market demand for these motors. Government regulations and the urge to save energy among people by encouraging the use of efficient electric motors can also be attributed to the market growth of medium and high power electric motors globally.

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Increasing manufacturing industries are expected to play a major role in the market growth. Medium and high voltage motors are widely used in these facilities to manufacture end use products including vehicles, pumps, AC and DC motors, fans, compressors, mixers, refineries, mills and conveyors, medical equipment and others. Increasing prices and market competition are driving the industry participants to reduce the operating costs to thereby demand for energy efficient motor driven systems is increasing swiftly in the global market.

Increasing economic standards and financial position of countries is expected to motivate investors to invest more in electric motors resulting in efficient performance and reducing costs in the market. Emerging economies such as China, India, Brazil, and Taiwan are expected to witness significant growth in industrial sector resulting increased demand for high and medium voltage motors for production.Replacement of outdated electric motors is expected to be a key trend in the market over the forecast period. Many industries are replacing the old and outdated motors with advanced and innovative motors to improve their performance and to achieve a competitive edge in the global market.

On the basis of motor type, the high and medium voltage motors can be segmented into AC and DC motors. These motors are further classified into single phase and three phase motors. Medium voltage motors can measure output between 0 to 200 KW. Whereas the high voltage motors can measure output greater than 200 KW. Three phase motors are widely used in many applications majorly by electrical grids to transfer power and other heavy industrial sectors.

Three phase type of motors are expected to have the largest market owing to benefits they provide including high efficiency with 97% converting power. It is more economical and uses less conductor material to transfer electrical power. Single phase is expected to witness a moderate growth since many household loads in regions including U.S. are connected as a single phase. In regions with low population, single phase motors are used for distributing power.

On the basis of efficiency type the global market has been segmented into IE1 (Standard Efficiency), IE2 (High Efficiency), IE3 (Premium Efficiency), IE4 (Super Premium Efficiency). IE1 is widely used in common households. IE2 motors are expected to have the largest market in owing to increasing demand for high efficient and environment friendly products. IE3 is expected to witness significant growth rate over the forecast period since it provides energy efficiency, and better performance coupled with mandatory regulation in certain regions to use premium motors.

Electric motors need huge amounts of electrical energy and therefore can provide an opportunity for energy saving. Energy is expected to signify more than 96 percent of total operating costs of motor over its lifetime. The purchase of a new motor tends to be driven by the price, even a small progress in efficiency can result in substantial cost and energy savings. By Investing more in a more efficient motor often results in energy savings. Improving energy efficiency reduces greenhouse gas emissions that contribute to climate change.

On the basis of end use segment, the global market has been segmented into Motor Vehicle Manufacturers, HVAC Manufacturers, Industrial Machinery, Aerospace and Other Transportation, Commercial and Other Industries. Motor vehicle manufactures is expected to have the largest market in terms of revenue on account of increasing demand for electric vehicles and energy efficient motors.Industrial machinery can be further classified into various sectors including medical equipment, food and beverage industry, pulp and paper, petrochemical oil refining, mining and construction equipment and others. Commercial end users can be defined as power generation, and water treatment segments. Power generation is also expected to witness a rapid growth in the market owing to increase consumption of electricity across the globe on account of growing population and energy based resources.

Asia Pacific medium and high voltage motors is expected to be the largest market over the forecast period owing to growing industrialization and automation in regions including India, China, Taiwan, Japan, and South Korea. Many manufacturing firm are expected to invest owing to skilled labor, technological advancements, and wide scope of applications existing in this region.North America and Europe medium and high voltage motors market are expected to witness significant growth rate owing to increasing awareness to implement energy saving equipment and also to reduce greenhouse emissions to protect the environment. Growing economic standards can be attributed to a moderate growth in regions including Middle East and Latin America.

Key vendors in the global medium and high voltage motors market include Rockwell Automation Inc., Siemens AG, Danaher Motion LLC. Other industry participants include Franklin Electric, Baldor Electric Company, allied motion technology, ARC systems and regal Beloit. Manufacturers are concentrating more in investing R&D for increasing cost-efficient and innovative solutions to offer product differentiation in order to expand and maintain their position in the market.

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