Industrial High Voltage Motors Market by End-users and Geography - Forecast and Analysis 2019-2023

Global Industrial High Voltage Motors Market: About this market
industrial high voltage motors market analysis considers sales from the oil and gas industry, chemicals and petrochemicals industry, utilities sector, water, and wastewater treatment industry, and other end-users. Our analysis also considers the sales of industrial high voltage motors in APAC, Europe, North America, South America, and MEA. In 2018, the oil and gas industry segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing demand for crude oil and the growth in oil and gas production will play a significant role in the oil and gas industry segment to maintain its market position. Also, our global industrial high voltage motors market report looks at factors such as increased demand for squirrel cage induction motors, rising renewable power generation, and emergence of customized industrial high voltage motors. However, need to comply with strict regulations, threat from refurbished and counterfeit products, and issues associated with failure of industrial high voltage motors may hamper the growth of the industrial high voltage motors industry over the forecast period.
Global Industrial High Voltage Motors Market: Overview
Emergence of customized industrial high voltage motors
Customized industrial high voltage motors are the custom-made motors that are developed according to the requirements of end-users. These are reliable and high-performance motors, which can perform under harsh operating conditions. These motors are increasingly being customized to meet the need for industrial operations. The customized industrial high voltage motors are significantly adopted among different enterprises in industries such as oil and gas, water and wastewater treatment, and chemicals and petrochemicals. Also, customization of industrial high voltage motors can be done in terms of voltage, efficiency, and application. This demand for customized industrial high voltage motors will lead to the expansion of the global industrial high voltage motors market at a CAGR of almost 5% during the forecast period.
Use of smart sensors with industrial high voltage motors
Vendors are offering industrial high voltage motors incorporated with smart sensors, which will help enterprises in analyzing and predicting the health of industrial high voltage motors and other rotating machinery. The sensors are also designed to help predict the residual life of industrial high voltage sensors. This sensor picks up the data on temperature, vibration, and other parameters, which is used to gain meaningful insights on the performance and condition of the industrial high voltage motor. This sensor converts a traditional industrial high voltage motor into a smart, wirelessly connected device. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global industrial high voltage motors market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global industrial high voltage motors market is moderately fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial high voltage motors manufacturers, that include ABB Ltd., General Electric Co., Hitachi Ltd., Hyosung Corp., Meidensha Corp., Regal Beloit Corp., Siemens AG, TECO Electric & Machinery Co. Ltd., Toshiba Corp., and WEG SA.
Also, the industrial high voltage motors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.