Industrial High Voltage Motor Market by Type (Squirrel-Cage Motors and Slip-Ring Motors), Product (Synchronous High Voltage Motor and Asynchronous High Voltage Motor), Application (Cement Production, Mining, Chemical Processing, Oil & Gas, Metal Processing, Paper Manufacturing, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2023-2032

Industrial High Voltage Motor Overview

Industrial high-voltage motors are basically electric motors that operate at higher voltages compared to standard household or low-voltage industrial motors. The high-voltage industrial motors are used in several industries such as oil & gas, chemicals, and others. This is because in these industries high power output and efficiency is needed. The high-voltage industrial motors also find a wide range of applications across power generation, petrochemicals, marine, renewable energy, paper & pulp sector, and other industries. For instance, high voltage industrial motors are widely used in steel mills and metal processing sectors for extrusion, rolling, and smelting. Thus, the industries where high torque is required, industrial high voltage motors are used.

Global Industrial High Voltage Motor Market Analysis

The global industrial high voltage motor market size was $1,755.8 million in 2022 and is predicted to grow with a CAGR of 3.9%, by generating a revenue of $2,566.7 million by 2032.

Source: Research Dive Analysis

COVID-19 Impact on the Global Industrial High Voltage Motor Market

The COVID-19 pandemic had a negative impact on the industrial high voltage motor market. This impact is majorly owing to supply-chain disruptions, import-export restrictions, reduced demand for high voltage motors across the industrial sectors, price fluctuations, and others. For instance, the disruption in the supply chain due to halt in manufacturing of motors affected the production of high voltage motors. In addition, several end-use industries, mainly automotive, oil & gas, and manufacturing saw a decline in capital expenditures owing to which the demand for industrial high voltage motor was reduced. Furthermore, various industrial projects were postponed or canceled due to disruptions in business operations. All of these factors led to a negative impact on the industrial high voltage market growth during the pandemic.

Rising Demand for Industrial High Voltage Motors in the Power Generation Sector to Drive Market Growth

Industrial high voltage motors are widely used in the power generation sector to drive generators and turbines. These industrial high voltage motors convert mechanical energy into electrical energy, making it essential for electricity production. These motors can operate at extremely high voltages, such as in nuclear power plants. Industrial high voltage motors play a crucial role in the power generation sector where they are used in generator drives, steam turbines, nuclear power plants, hydroelectric generators, and others. For instance, in power plants, the high voltage motors are used in driver generators. These generators are responsible for converting mechanical energy into electrical energy. In addition, high voltage motors are used to rotate the generator's rotor that is a large electromagnet. Furthermore, in wind power plants, high voltage industrial motors are used to rotate the blades of wind turbines. Also, in gas turbines, industrial high voltage motors are used for both power generation and in combined cycle configurations. These applications demand the use of industrial high voltage motors used to drive the turbines. This is because these motors start and accelerate the rotation of the gas turbine shaft, which drives the generator. These factors are anticipated to boost the demand for high voltage motors in the industrial sector.

High Initial Cost, Complex Installation, and Maintenance to Restrain the Market Growth

Industrial high voltage motors are expensive to purchase and install compared to low & medium-voltage motors. These motors are quite expensive as this cost includes motors as well as associated equipment like high-voltage switchgear and transformers. In addition, the installation and maintenance of high-voltage motors requires specialized knowledge and equipment. The high-voltage electrical systems also need to follow stringent safety & regulations. This can further increase the cost & complexity of the installation process. These factors are anticipated to restrain the industrial high voltage motor industry growth in the upcoming years.

Growing Popularity of Industrial High Voltage Motors in Renewable Energy and Industrial Automation to Create Growth Opportunities

The growing applications of industrial high voltage motors across renewable energy sources such as solar tracking systems, biomass power plants, hydropower generation, and others is gaining huge popularity. For instance, in wind power plants, the industrial high voltage motor demand is growing as these motors convert kinetic energy from wind into electrical energy. Also, in solar tracking systems, these motors are used to orient solar panels toward the sun for optimal energy capture throughout the day. Similarly, in biomass power plants, these motors are used to drive several equipment’s such as crushers, conveyors, and generators. Furthermore, industrial high voltage motors are used in material handling systems, heating, ventilation, and air conditioning (HVAC) systems, manufacturing of electric vehicles (EVs), and others. For instance, the use of industrial high voltage motors in industrial robotics facilitates precision movement and control of robots that bring automation in manufacturing processes. Also, in EV manufacturing, these motors are used in assembly line processes, battery production, and other automated systems. These factors are anticipated to boost the industrial high voltage market expansion during the forecast years.

Global Industrial High Voltage Motor Market Share, by Type, 2022

Source: Research Dive Analysis

The squirrel-cage motors sub-segment accounted for the highest market share in 2022. Squirrel-cage motors are gaining significant popularity across high voltage industrial applications owing to their simplicity, high efficiency, and reliability. For instance, to drive industrial pumps, these motors are used for several applications such as water supply, wastewater treatment, and fluid transfer. Also, squirrel-cage motors are widely utilized in conveyor systems for material handling within manufacturing facilities, warehouses, and distribution centers. In addition, the squirrel-cage motors are suitable for driving mixers and agitators in industrial processes such as chemical processing and food production. Also, the blowers used for air circulation in various industrial settings often utilize squirrel-cage motors. These factors are anticipated to drive the squirrel-cage motors market growth in the upcoming years.

Global Industrial High Voltage Motor Market Share, by Product, 2022

Source: Research Dive Analysis

The asynchronous high voltage motor sub-segment accounted for the highest market share in 2022. The asynchronous high voltage motors are used in several industrial applications in various components such as conveyor systems, compressors, industrial fans, centrifugal pumps, and others. For instance, the large industrial fans used for ventilation and cooling systems often utilize asynchronous motors owing to their ability to operate at a constant speed and handle varying loads making them suitable for fan applications. Similarly, these motors are used in centrifugal pump applications which demand for a constant speed that is necessary for pumping applications. In addition, in the mining & construction industry, these motors are used in crushers and grinders, as the asynchronous high voltage motors have rugged design and they can handle high starting torque is advantageous in such applications. Similarly, in the paper & textile industry, these motors are used for rolling, cutting, and winding operations. Also, the compressors that are used for compressing air or gas, use asynchronous high voltage motors as they can effectively handle varying loads. These factors are anticipated to boost the asynchronous high voltage market growth during the forecast period.

Global Industrial High Voltage Motor Market Share, by Application, 2022

Source: Research Dive Analysis

The oil & gas sub-segment accounted for the highest market share in 2022. The high voltage industrial motors play a vital role in various applications in the oil & gas industry, as these motors are designed to operate under demanding conditions, providing the necessary power and reliability for critical processes. For instance, these motors are used in drilling rigs, pipeline compressors & pumps, crude oil refining, gas processing plants, and others. The high voltage motors are integral to the operation of equipment in crude oil refineries. These motors are used to power up the pumps, fans, compressors, and other machinery involved in refining processes. Similarly, industrial high voltage motors are used in various drilling rig components including draw works, mud pumps, and rotary tables, because these motors are crucial for the drilling process that facilitates the efficient extraction of oil & gas from beneath Earth's surface.

Global Industrial High Voltage Motor Market Size & Forecast, by Region, 2022-2032 ($Million)

Source: Research Dive Analysis

The Asia-Pacific industrial high voltage motor market generated the highest revenue in 2022. The demand for high voltage industrial motors in Asia-Pacific countries is attributed to several factors that reflect the region's economic, industrial, and infrastructural dynamics. For instance, several countries in Asia-Pacific namely India, Japan, China, and others are undergoing rapid industrialization and infrastructure development. For instance, across these industrial countries, the high voltage industrial motors are crucial for powering heavy machinery and equipment used in various industries namely manufacturing, construction, and energy. For instance, high voltage motors are essential for driving machinery in manufacturing processes such as metal processing, chemicals, textiles, and automotive production. In addition, as the manufacturing sector is expanding rapidly across countries namely India, Vietnam, China, Malaysia, Thailand, Indonesia, South Korea, and others, opportunities in the industrial high voltage market are increasing in these countries. For instance, India has been making efforts to boost its manufacturing sector through initiatives like ‘Make in India.’ Based on this initiative launched by the Indian government in 2014, the country has experienced growth in several manufacturing industries namely automotive, pharmaceuticals, electronics, and textiles.

Competitive Scenario in the Global Industrial High Voltage Motor Market

Business expansion, product launch, and partnership are common strategies followed by major market players. In March 2023, Innomotics GmbH, the leading provider of industrial high voltage motor, launched a new product portfolio that offers innovative solutions and digitalization services for various low, medium, and high voltage industrial motors that are widely used in manufacturing, oil & gas, and other industries.

Source: Research Dive Analysis

Some of the leading industrial high voltage motor market players are ABB, WEG, General Electric Company, Teco Australia, Siemens AG, Toshiba Mitsubishi-Electric Industrial Systems Corporation, OME, HYOSUNG HEAVY INDUSTRIES, Shanghai Electric Machinery Co., Ltd., and Regal Beloit Corporation.