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Global Industrial High Voltage Motors Market 2019-2023 | Evolving Opportunities With ABB Ltd. and Hitachi Ltd. | Technavio

Technavio has announced its latest market research report titled global industrial high voltage motors market 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--

Technavio has been monitoring the global industrial high voltage motors market since 2018 and the market is poised to grow by USD 1.45 billion during 2019-2023 at a CAGR of almost 5% during the forecast period. Request Free Sample Pages

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Read the 150-page research report with TOC on "Industrial High Voltage Motors Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by End-users (Oil and gas industry, Chemicals and petrochemicals industry, Utilities sector, Water and Wastewater treatment industry, and Others), and Segment Forecasts, 2019-2023."

The market is driven by the emergence of customized industrial high voltage motors. In addition, the use of smart sensors with industrial high voltage motors is anticipated to further boost the growth of the industrial high voltage motors market.

The purchase of customized industrial high voltage motors is increasing because they are custom-made to address the varying requirements of the end-users. Vendors customize motors, which can withstand under harsh operating conditions, exhibit high-performance with improved efficiency, voltage, and application, and are reliable. As a result, many enterprises in industries such as chemicals and petrochemicals, water and wastewater treatment, and oil and gas are adopting customized industrial high voltage motors that meet their industrial operational needs. Thus, the emergence of customized industrial high voltage motors is expected to drive market growth during the forecast period.

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Major Five Industrial High Voltage Motors Market Companies:

ABB Ltd.

ABB Ltd. is headquartered in Switzerland and operates the business under various segments such as Electrification Products, Robotics and Motion, and Industrial Automation. The company offers products such as high voltage rib cooled motors HXR and high voltage modular induction motors.

General Electric Co.

General Electric Co. is headquartered in the US and offers products through the following business units: Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, and Lighting. The company offers products such as induction motors and synchronous motors.

Hitachi Ltd.

Hitachi Ltd. is headquartered in Japan and operates under various business segments, namely Information & Telecommunications Systems, Social Infrastructure & Industrial Systems, Electronic Systems & Equipment, Construction Machinery, High Functional Materials & Components, Automotive Systems, Smart Life & Ecofriendly Systems, and Others.

Hyosung Corp.

Hyosung Corp. is headquartered in South Korea and offers products through the following business segments: Textile/Trading, Power & Industrial Systems/Construction, Industrial Materials, Chemicals, Information & Communication, and Other Affiliated Companies.

Meidensha Corp.

Meidensha Corp. is headquartered in Japan and offers products through the following business segments: Social Infrastructure Systems, Industrial Systems, Maintenance and Servicing, and Real Estate. The company offers high voltage wound rotor type electric motors to their customers.

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Industrial High Voltage Motors End-users Outlook (Revenue, USD Million, 2019-2023)

  • Oil and gas industry
  • Chemicals and petrochemicals industry
  • Utilities sector
  • Water and wastewater treatment industry
  • Others

Industrial High Voltage Motors Regional Outlook (Revenue, USD Million, 2019-2023)

  • APAC
  • Europe
  • MEA
  • North America
  • South America

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View source version on businesswire.com: https://www.businesswire.com/news/home/20191130005029/en/