LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global industrial high voltage motors market to register a revenue of around USD 7.195 billion by 2022, according to their latest market research report.
The replacement of outdated electric motors is one of the major trends being witnessed in the global industrial high voltage motors market. The emergence of new technology trends such as Industrial Internet of Things (IIoT) has fueled the replacement of traditional electric motors with smart ones. The adoption of smart motors in industries should promote the adoption of high voltage motors in end-user industries during the forecast period.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio analysts highlight the ease of customization in terms of voltage, efficiency, and application as a key factor contributing to the growth of the global industrial high voltage motors market:
Global industrial high voltage motors market: Ease of customization in terms of voltage, efficiency, and application
Manufacturers are increasingly customizing industrial high voltage motors in compliance with the needs of operations. End-users require customized high voltage motors mostly when they cannot determine the difference between the versions of medium voltage and high voltage motors. One of the key solutions that high voltage motors provide is meeting the worldwide energy efficient standards.
According to a senior analyst at Technavio for research on automation, “Customization of available motors helps end-users in managing respective applications. Air-to-air cooled, drip proof, and explosion-proof high voltage motors are a few of the efficient models that require high output, ensuring maximum machine life. This increased their installation in harsh environmental condition.”
Global industrial high voltage motors market: Segmentation and forecast
This market research report segments the global industrial high voltage motors market into the following end-users (oil and gas industry, chemicals and petrochemicals industry, utilities sector, and water and wastewater treatment industry) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major end-users, the oil and gas industry segment held the largest market share in 2017, accounting for more than 28% of the market. This segment is anticipated dominate the global market throughout the forecast period.
APAC was the leading region for the global industrial high voltage motors market in 2017, accounting for a market share of around 36%. This region is expected to grow steadily during the forecast period.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.