Severe Duty Motors

Severe Duty Motors

Global High Speed Motors Market to Reach $16.7 Billion by 2027

In the changed post COVID-19 business landscape, the global market for High Speed Motors estimated at US$11.1 Billion in the year 2020, is projected to reach a revised size of US$16.7 Billion by 2027, growing at a CAGR of 6.1% over the analysis period 2020-2027. Industrial Machinery, one of the segments analyzed in the report, is projected to record a 6.1% CAGR and reach US$5.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Aerospace & Transportation segment is readjusted to a revised 7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3 Billion, While China is Forecast to Grow at 10.5% CAGR

The High Speed Motors market in the U.S. is estimated at US$3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.6 Billion by the year 2027 trailing a CAGR of 10.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2027.

Automotive Segment to Record 8.2% CAGR

In the global Automotive segment, USA, Canada, Japan, China and Europe will drive the 8.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$2.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 9.8% CAGR through the analysis period.

Select Competitors (Total 42 Featured) -

• ABB Group
• General Electric Company
• Rockwell Automation, Inc.
• Siemens AG
• Toshiba Corporation
• WEG SA

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