High Voltage Motor Sleeve Bearing Market

Global High Voltage Motor Sleeve Bearing Market Size (2024 to 2032)

The Global High Voltage Motor Sleeve Bearing Market was worth USD 1.71 billion in 2023. The global market is expected at USD 1.93 billion in 2024 and is anticipated to reach a valuation of USD 5.14 billion by 2032 and is predicted to register a CAGR of 13% during the forecast period.

Current Scenario of the Global High Voltage Motor Sleeve Bearing Market

A sleeve bearing is a cylindrical bushing that surrounds the motor shaft lets the motor freely revolve, and also manages the weight of the motor. The sleeve bearings are usually employed in the motors that are used in manufacturing plants and have a capacity of 1000 volts and above. The high temperature that the high voltage motor sleeve bearing has to sustain is also considered while making the sleeve bearing. Thus, metals like bronze and babbitt are used for their production.

MARKET DRIVERS

To perform heavy operations in the industry to meet the increasing demand from the end users, high voltage motors are used in the industry, which requires high voltage motor sleeve bearings.

Industries like mining, metal works, and oil & gas. Oil refineries and distilleries use high amounts of energy, and thus, the machinery employed for such tasks requires high-voltage motor sleeve bearings. So, these industries are regular and big consumers of the high voltage motor sleeve bearing market.

Production and usage of energy, whether renewable or non-renewable, need high-voltage machines to operate. Nonconventional energy sources like solar and wind energy also demand high-voltage machinery to transfer the energy from one point to another. Hence, the energy production industry is also the consumer of the high-voltage motor sleeve bearing market.

Recently, EVs (Electric Vehicles) are gaining popularity, and their use in urban as well as rural areas is increasing rapidly. Energy consumption has been increasing due to the Electric Vehicles market growth, which ultimately helps the high voltage motor sleeve bearing market to grow.

Therefore, we can say that industries that use high amounts of energy, as well as those that produce energy, are the prominent drivers of the high-voltage motor sleeve-bearing market worldwide.

MARKET RESTRAINTS

The biggest obstacle that restricts the growth of the high voltage motor sleeve bearing market is the sky-high prices of the bearing as well as the motors.

The reason the bearing in high voltage motors is more expensive is due to the high-end raw material used and also the complex manufacturing activities involved in their production. 

The high-voltage motor sleeve bearing is usually used in motors that use above 1000 volts of energy; thus, the safety of the operator is given the utmost importance by the regulatory authorities, and that’s why the required certifications are awarded only after extended tests.

Unawareness and financial stress, many of the end users neglect the reliability and improved efficiency that the high voltage motor sleeve bearing will provide. The high-voltage machine consumes less energy than low-voltage machines. So, in the longer run, the low-voltage machines are heavier on the pockets as compared to high voltage.

MARKET OPPORTUNITIES

The advanced high-voltage motors also can be used in the transportation sector in electric vehicles and high-speed trains.

Today, the term energy efficiency can be heard from every corner of the industry; the motors that are energy efficient have more demand than the others.

Developing high-voltage motors that are energy efficient at the same time can be said to be a golden opportunity for the growth of the high voltage motor sleeve bearing market.   

COVID-19 IMPACT ON THE GLOBAL HIGH VOLTAGE MOTOR SLEEVE BEARING MARKET

The COVID-19 Pandemic had a negative impact on the high-voltage motor sleeve bearing market. As manufacturing units all over the world weren’t working, the demand for high-voltage motors and sleeve bearings decreased drastically. 

The COVID-19 lockdown distorted the global supply chain, which resulted in transportation problems for raw materials as well as finished products required in high-voltage motors.

Even in the post-pandemic period, financial distress all over the world caused a very low response in the high voltage motor sleeve bearing market from the users’ industry which is dependent on the sleeve bearing.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global High Voltage Motor Sleeve Bearing Market Analysis By Type

The D 400 mm and above type of bearing has been leading the market in recent years. As per the requirement, it can be produced from metals like steel, aluminum, and bronze. Due to its applications in high voltage motors in industries, its usage is going to rise further in the future. At the same time, the D 200-400 mm type of bearing has its use limited to the automobile and aerospace industry.

Global High Voltage Motor Sleeve Bearing Market Analysis By Application

Frame 560 mm above is ruling the high-voltage motor sleeve bearing market. It has applications in wind turbines and EVs and performs tasks like reducing noise and vibrations and also heat reduction. Frame 355-560 mm has its major use in Paper mills, mining equipment, and also in pumps and blowers.

REGIONAL ANALYSIS

 North America holds the largest share in the high-voltage motor sleeve bearing market. The shift toward clean energy and increasing demand for Electric Vehicles is the main reason for the rapid growth of the sleeve-bearing market.

Followed by North American, Europe, and Asia Pacific regions are in second and third positions, respectively. At the same time, Latin America holds the lowest spot in the global market of sleeve bearings.

KEY PLAYERS IN THE GLOBAL HIGH VOLTAGE MOTOR SLEEVE BEARING MARKET

Companies playing a prominent role in the global high voltage motor sleeve bearing market include RENK AG, Shenke Sliding Bearing Group, Hunan SUND Industrial & Technological Co., Ltd, Zhuji Zhouwa Company, Jinneng Plain Bearing, and Others.

RECENT HAPPENINGS IN THE GLOBAL HIGH VOLTAGE MOTOR SLEEVE BEARING MARKET

• In October 2022, Wheeler, a sleeve manufacturing company based in the United States, got acquired by Jenkins Electric. This expansion will help the motor parts industry to expand as a whole.
• In 2020, JTEKT developed a bearing for Electric Vehicles to prevent electrical pitting, which is a common issue in motors used in Hybrid and Electric vehicles. Ceramic balls have been used in this bearing which is expensive but the best possible option to prevent electric pitting.

DETAILED SEGMENTATION OF THE GLOBAL HIGH VOLTAGE MOTOR SLEEVE BEARING MARKET INCLUDED IN THIS REPORT

This research report on the global high voltage motor sleeve bearing market has been segmented and sub-segmented based on type, application and region.

By Type

• D 200-400 mm 
• D 400 mm above

By Application

• Frame 355-560 mm 
• Frame 560 mm above

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa