Market Size (2018)
$12.55B
Vertical: EnPBase Year: 2018
Market Size (2018)
$12.55B
Projected (2024)
$15.90B
CAGR (2017–2024)
4.0%
Key Players
9+
The global high-speed motor market is expected to grow at 4.02% CAGR during the forecast period, 2018–2024. There has been an increase in government initiatives for electrical components development and a rise in demand for energy efficiency, which are likely to drive the global high-speed motor market during the forecast period.
The global high-speed motor market has been segmented based on product, voltage, application, end-use, and region. On the basis of voltage, the high-voltage motor segment accounted for the largest market share of 59.5% in 2018, with a value of USD 7,469.9 million; and is projected to grow at 4.22% CAGR during the forecast period. On the basis of product, the permanent magnet motor segment accounted for the largest market share of 54.6% in 2017, with a value of USD 6,850.0 million, which is projected to grow at the highest CAGR of 4.15%.
The High Speed Motor Market market is projected to grow at a CAGR of 4.0% from 2017 to 2024.
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View Subscription PlansHigh-speed motors refer to the motors, which have a rotation speed of over 1,500 rpm. High speed motors have high density, and high-power volume compared to traditional motors. Owing to their high speeds, the power density of the motors, is also high, and the power volume is lesser than ordinary motors. The use of high-speed motors ensures high transmission efficiency and reduced noise. The high-speed motor has small inertia and ensures a faster and more dynamic response. The various advantages of using such motors are decreased installation space for higher power and the elimination of gearboxes. These motors are used in machine tools, compressors, automotive components, and in the energy generating industry.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2017 – 2017
Forecast Period
2019 – 2024
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2024)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global high-speed motor market is characterized by the presence of many global, and local vendors. The market is highly competitive with all the players competing to gain a larger market share. Intense competition, rapid advances in technology, rising industrial automation, frequent changes in government policies, and environmental regulations are key factors that drive the market growth. The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to offer cost-efficient and high-quality products in order to survive and succeed in a competitive market.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. The market players in high-speed motor market are taking steps to expand their presence. General Electric (US), Siemens AG (Germany), ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Bosch Rexroth AG (Germany), Danfoss (Denmark), Regal (US), Keba (Austria), Turbo Power System Inc (UK), SKF (Sweden), Meidensha Corporation (Japan), Nidec Motor Corporation (US), Toshiba Corporation (Japan), Hitachi Industrial Equipment Systems Co. Ltd (Japan), and Fuji Electric Co. Ltd (Japan) are the key companies operating in the global high-speed motor market. These companies compete in terms of availability, quality, price, and technology. They primarily focus on the development of high-speed motors market. Although the international players are dominating the market, local players with small market shares have a presence. The international players may strengthen their presence in the market through acquisitions during the forecast period.
Market estimates by geography (2024)
InsightAsia Pacific leads with $7.34B by 2024, while North America is projected to grow fastest at a 4.2% CAGR.
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View Subscription Plans| REGION | 2017 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $2.14B | $2.54B | $2.86B | 4.2% | 15% |
| Europe | $3.07B | $3.58B | $3.96B | 3.7% | 21% |
| Asia Pacific | $5.50B | $6.52B | $7.34B | 4.2% | 39% |
| Middle East and Africa | $842.10M | $970.13M | $1.08B | 3.6% | 6% |
| Americas | $2.66B | $3.15B | $3.52B | 4.1% | 19% |
| Total | $14.22B | $16.77B | $18.76B | 4.0% | 100% |
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View Subscription PlansTotal Market Size
$15.90B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Machine Tools | $6.26B | 4.3% | 33% |
| Pump | $6.17B | 4.2% | 33% |
| Compressor | $4.40B | 4.1% | 23% |
| Others | $1.92B | 2.7% | 10% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on High Speed Motor Market covering market dynamics, competitive landscape, and strategic outlook.
The High Speed Motor Market market is projected to reach $15.90B by 2024, growing at 4.0% CAGR. The Machine Tools segment holds the largest share.
The global high-speed motor market is expected to witness high growth during the forecast period, owing to the factors such as oncreasing need for energy efficiency, rising use of high-speed motors in industries and favourable government initiatives. The high-speed motor is efficient than traditional motor, which is expected to drive the high-speed motor market. The rising use of Variable Frequency Drives (VFD) is the opportunity in marine high-speed motor market. However, the high cost of high-speed motors due to the need for high-quality motor elements, might hinder the growth of the market.
There are various government programs and developments being initiated in terms of technological advancements in order to improve the energy efficiency of high-speed motors. In September 2016, Copper Development Association (CDA) partnered with Advanced Energy, US to sponsor the educational institutions for developing proper motor management techniques, which would result in substantial energy saving. The magnetic bearing technology with numerous advantages such as silent operation, lightweight, low start-up power drawn, reduced maintenance cost, and 49% energy saving is used in high-speed motors. This will result in the increased demand for high-speed motors in the forecast period. Improved energy efficiency is important in achieving economic and social goals in developing countries, including improved access to energy services, improved affordability of energy services, and the availability of resources for other expenditures, improving environmental sustainability, and economic development.
Government regulations regarding the use of such advanced technology enhances the energy efficiency of high-speed motors and enables their adoption. High-speed motors are mostly used in many industrial applications, including gas and air compressors, centrifugal compressors, blower compressors, and aeration blowers. It is also used in industries such as food and beverage, and pharmaceutical. Therefore, rising expansion of industrial and commercial sector in every vertical including oil and gas, aerospace, and mining, drives the need for energy efficiency across all segments, which is expected to drive the market during the forecast period.
Electric motor‐driven equipment such as refrigerators, pumps, fans, compressors, materials handling, materials processing, and facility HVAC systems use 16% of the total electricity used in industrial applications. Therefore, motor control systems are installed with the variable frequency drives (VFD), to minimize the power consumption. The installation of VFD with motors delivers improved load control, more efficiency, adjustable torque limit, and controlled acceleration. The use of VFD to control the speed of the motor will lower the cost of energy, improve system reliability, reduce maintenance cost, and other process controls. There are various applications that require accurate speed control. For example, in the semiconductor industry, VFDs are used with motors to improve the current flow. A few other applications of VFDs with high-speed motors are material handling, machining, and fabrication.
The use of VFDs, alone is not recommended as they slow down the machine speed, resulting in insufficient torque and poor cooling. However, VFDs can be used with high-speed motors to improve the torque. So, the use of VFDs with high-speed motors, to optimize the cost and the control of the motor speed, is expected to be an opportunity in the high-speed motor market, during the forecast period.
High-speed motors operate at high rotational speed, which results in the high centrifugal forces on the rotor. Due to this, the materials used in the high-speed motor are extracted to their mechanical stress resistivity. Thus, high-quality elements are required in order to prevent failures of motor elements. But, the requirement of high-quality elements during the production of the high-speed motor adds to the manufacturing cost. Hence, the quality of the material plays a significant role in designing the cost of high-speed motor. The infrastructure required to perform these tests is highly complex and is not easily available in the market. Therefore, sometimes the related cost exceeds the cost incurred during the development process of a new motor element product line. Hence, the high cost of motors due to the requirement of high-quality motor elements, will hamper the market growth during the forecast period.
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Profiles of 103 companies operating in the High Speed Motor Market market, including revenue, employee count, and market positioning where available.
Showing 103 of 103 companies
Company Headquarters: Tokyo, Japan Founded: 1897 Workforce: ~8,995 Company Working: Meidensha Corporation (Meidensha), is a Japan-based diversified company with operations in energy, water management, information, communication, industrial systems, construction and maintenance of heavy electrical components, and semiconductor industries. The company is also engaged in manufacturing and marketing energy equipment for power generation, conservation, transmission, transformation, and distribution. It operates through three business segments, which are social infrastructure systems, industrial systems, and maintenance and servicing. High-speed motors are included under the company’s industrial systems segment. Meidensha operates in Japan, India, China, Indonesia, Korea, Malaysia, Singapore, the UK, Thailand, the US, and the UAE. The company’s manufacturing units are mainly located in Asia-Pacific, Europe, and the Middle East. Meidensha has 35 subsidiaries. Prime Meiden Ltd, Meiden America, Inc., and Meiden Chemical Co. Ltd, are its major subsidiaries. The company has 19 subsidiaries in Japan and 18 in overseas. This contributes to its wide geographical presence.
Company Headquarters: Gothenburg, Sweden Founded: 1907 Workforce: ~45,678 Company Working: SKF is a global leader in delivering technology for bearings and units, seals, mechatronics, services, and lubrication systems. In order to achieve breakthroughs in energy efficiency, friction reduction, and equipment longevity and reliability, the company operates through two business segments, which are industrial and automotive. High-speed motors fall under its industrial segment. The company provides industrial drives, heavy industrial machines, and special machinery, which cater to a wide range of end users, such as industries, aerospace, energy, railway, off-highway. SKF invests in research and development activities to develop advanced technology for almost every industry vertical. For instance, in 2017, the company spent 3.1% of its net sales on research and development. SKF has 51 subsidiaries. Lincoln Industrial Corporation, Kaydon Corporation, and SKF Economos GmbH are its key subsidiaries. The company has an extensive geographical presence in 130 countries across the globe with more than 17,000 distributors and manufacturing facilities in 24 countries.
Company Headquarters: Japan Founded: 2010 Workforce: ~340,000 Company Working: Nidec Motor Corporation manufactures products, such as AC motors, DC motors, generators, electronically commutated (EC) motors, servo motors, switched reluctance motor, and IIoT Wireless Equipment Monitoring system. These products are used in applications, such as agriculture, food & beverage, metal, mining, packaging, robotics, waste & water treatment, HVAC, oil & gas, and refrigeration. Nidec Motor Corporation offers its products through trusted brands, such as Control Techniques, Hurst Motors. Kato Engineering, Leroy-Somer, Merkle-Korff Industries, SR Drives, and US Motors. The company operates through four product categories, which are small precision motors, automotive, appliance, commercial and industrial products, electronic and optical components, machinery, and others. High-speed motors are included under its small precision motors and automotive, appliances, commercial and industrial products categories. Nidec Motor Corporation is closely associated with almost 300 group companies, worldwide. It operates in the US, Canada, Mexico, Colombia, Central America, Chile, Argentina, Uruguay, Paraguay, Peru, Bolivia, Ecuador, China, Australia, and New Zealand. The company’s research and development department efforts are aimed at developing world-class variable frequency drive technologies and custom-engineered elevator components. Nidec Motor Corporation has several subsidiaries including Nidec Electronics, Nidec Singapore, Nidec (H.K.), Nidec Sankyo, Nidec Copal, Nidec Techno Motor, and Nidec Motors & Actuators. Honeywell International Inc., Parker Hannifin Corp, Rockwell Automation Inc., are a few of the competitors of the company.
Company Global Headquarters: Germany Founded: 1886 Workforce: 286,084 Company Overview: Bosch Group is one of the leading global suppliers of technology and services. The company operates through four business segments—mobility solutions, consumer goods, industrial technology, and energy and building technology. The company comprises Robert Bosch GmbH and around 440 subsidiaries and regional companies in around 60 countries. One the subsidiaries of Bosch Group is Bosch Security Systems Inc. which was founded in 1968 and has around 1,200 employees. Bosch Security Systems Inc. has its wide product portfolio which includes intrusion detection, fire detection, video surveillance, and voice execution systems. It is a privately held company and has broadly segmented its operations in two segments: Bosch security & safety solutions and energy & building solutions. Bosch security systems segment offers a complete range of specialized services and products for standard or customized applications. The company operates in Mexico, the US, China, Germany, and Portugal and has distribution partners in more than 150 countries. It also caters to various industry verticals such as banking, retail, education, commercial, hospital, hotel, and transportation. The company develops and manufactures security systems in its own production facilities in Europe, the Americas, and Asia.
NOV is the world's largest independent, pure-play original equipment manufacturer and technology supplier to the upstream oil and gas industry. Its scale is unmatched in drilling rig equipment, drill pipe, drill bits, downhole tools and subsea flexible pipe. Rather than selling oilfield services on a per-well basis like SLB or Halliburton, NOV designs, manufactures, rents and supports the machinery and consumables that service companies, drilling contractors and operators use. It also monetizes an installed base of thousands of rigs through high-margin aftermarket spares, repair and digital services. The portfolio is split between a shorter-cycle, activity-driven segment (Energy Products and Services) and a longer-cycle, backlog-driven capital equipment segment (Energy Equipment). That mix gives NOV both near-term operating leverage to drilling activity and multi-year visibility, with USD 4.1B of backlog at June 2026. Growth vectors include offshore production (FPSO process systems, flexible pipe), automation and robotics, and international unconventionals. NOV also has optionality in geothermal, offshore wind installation vessels and carbon capture equipment. The balance sheet is near net-cash. --- ### Company's own description (paraphrased from the FY2023–FY2025 10-Ks) NOV describes itself as a leading independent equipment and technology provider to the global energy industry. Its stated mission is to deliver technology-driven solutions that improve the economics, efficiency, safety and environmental footprint of energy production. NOV says it applies its expertise and technology to support the transition toward more sustainable energy. Its strategic focus is on automation, predictive analytics and condition-based maintenance. The FY2025 10-K reiterates that NOV is focused on developing and commercializing products and services that lower the marginal cost and environmental footprint of energy production. The corporate tagline is that NOV "powers the industry that powers the world." ### Independent characterization NOV is best understood as an industrial capital-goods and consumables business levered to upstream oil and gas capex. It is not an oilfield-services company in the conventional sense. It has three economic engines: 1. **Consumables and rentals (short-cycle):** drill bits, drill pipe, downhole motors and tools, solids-control consumables, coiled tubing and wireline consumables, and composite pipe. Demand tracks rig counts and footage drilled, with a lag of weeks. 2. **Capital equipment (long-cycle):** rig packages (land and offshore), pressure pumping and intervention equipment, subsea flexible pipe, FPSO process modules and turret mooring systems, offshore cranes, and wind and cable-lay vessel equipment. These are booked into backlog and revenue is recognized over time, typically 6–36 months. 3. **Aftermarket and digital (installed-base annuity):** spares, repair, recertification, field service, upgrades, and software and data services (for example, wired drill pipe, rig control systems and remote monitoring). Aftermarket is the highest-margin stream in Energy Equipment. In Q1 2026 it was about 37% of that segment's revenue (USD 440M, down 12% year over year, per the Q1 2026 call). ### Revenue model mix NOV does not disclose a product versus service versus subscription versus licensing split in exactly those categories. It does disaggregate revenue by segment, destination and revenue stream in its 10-K revenue footnote. The proxies available are as follows: ### Value-chain position NOV is a Tier-1 OEM supplying the following customers: - **Drilling contractors** (for example, offshore jackup, semisub and drillship owners; land drillers): rig equipment, spares and service. - **Oilfield service companies** (pressure pumpers, coiled tubing and wireline operators, and the large integrated service companies): intervention equipment, consumables and rentals. - **Exploration and production operators**, including majors, NOCs and independents: drill pipe, bits, completion tools, subsea flexible pipe, production process systems and artificial lift. - **Shipyards and EPC contractors**: rig packages, FPSO topside modules and offshore cranes. - **Non-oilfield marine and industrial customers**: wind turbine installation vessel equipment, cable-lay systems, and (until April 2024) utility poles.
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)