The global synchronous motor market size was estimated to be US$ 32.1 billion in 2020 and is expected to reach US$ 51 billion by 2031 at a CAGR of 4.4%. Synchronous motors are substituting current motors, which comprise a turning rotor with curls that pass magnets at the very rates as that of the exchanging current and the subsequent pivoting attractive field that is answerable for driving the rotor.
A synchronous motor can work under driving or slacking power factors. They are equipped for power factor revision and work at high efficiencies – consequently decreasing the expense of energy utilization by providing responsive capacity to the matrix. These key benefits are postulated to drive the synchronous motor market in coming years.
Developing worries for ecological conservation and CO2 emanations have moved the discussion of individuals towards utilizing sustainable and clean energy sources since past few years. Resulting from this, the electric vehicle need has filled essentially in various provinces. Sponsorships presented by neighborhood governments are among the critical explanations behind the development of the electric vehicle market.
The power generation industry in the North America area has intensified altogether during the past few years. Furthermore, expanding sustainable limits in the area are relied upon to drive the power generation industry in the province. Resulting from the development of the power generation industry in North America, the synchronous motors market is relied upon to observe solid development during the 2021-2031 forecast time frame. Latin America province is focused on giving greater power across nations like Brazil, Mexico, and Argentina, among others. Resulting from this, the synchronous motors market is relied upon to acquire The developing need for power, combined with an outstanding flood in the cost of power, aggregates to driving the synchronous motor market. Synchronous motors offer a huge number of benefits, for example, power factor amendment to decrease energy utilization and high productivity, which works with its reception in the assembling area. Synchronous motors are generally used in ventures, and they can be used as motors or generators, contingent upon industry inclination. Synchronous motors are practical with speeds going from 150 rpm to 1800 rpm and power evaluations between 150 KW to 15 MW. A synchronous motor runs at a synchronous speed, for example at a steady speed with a given frequency, while offering more noteworthy strength. Because of low power loss, high performance, low power loss, minimal maintenance requirement along with flexibility in adapting to diverse machinery layouts, synchronous motors are consistently acquiring ubiquity among clients in the province.
China is accounted for to be one of the vital business sectors for electric vehicles by the International Energy Agency. The electric vehicle industry in the Asia Pacific province is relied upon to develop at a critical rate in the coming years, attributable to the rigid approaches identified with vehicular emission and expanding worry for the CO2 discharges in the province. The development of the electric vehicle industry in the province is relied upon to support the market development of the synchronous motors during the forecast time frame.
Spread out inexhaustible limits in the Center East and Africa district are relied upon to include the development of the power generation industry in the Middle East and Africa area. Attributable to this, the synchronous motors market is relied upon to develop at a caviling rate in the province during 2021-2031.
Global Synchronous Motor Market Value Share Analysis, by Geography (2021)
The report titled “Global Synchronous Motor Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032”, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Synchronous Motor Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Synchronous Motor market is segmented as mounting type, voltage, application, end-user, and region. Based on mounting type, the Synchronous Motor market is segmented into Horizontal, Vertical, other. Based on voltage, the Synchronous Motor market is segmented into Low, Medium, others. Based on application, the Synchronous Motor market is segmented into Compressors, Pumps, Fans, Extruders, Mixers, Conveyor Belts, others. Based on end-user, the Synchronous Motor market is segmented into Oil & Gas, Metal & Mining, Paper & Pulp, Chemicals & Petrochemicals, Automotive, Others.
Based on geography, the Global Synchronous Motor Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Synchronous Motor Market. Further, market share of prominent companies in the Global Synchronous Motor Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Synchronous Motor companies. The Global Synchronous Motor Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Synchronous Motor business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Synchronous Motor Market.
The key players of the Global Synchronous Motor Market are:
Solutions Corporation, Baumuller Nurnberg GmbH, GE Grid Solutions Heinzmann GmbH & Co. KG, Siemens, Fuji Electric Co., Ltd, Bosch Rexroth Australia, Automatic IT Services Pvt, Ltd, Oriental Motor USA, Infineon Technologies, Nidec Servo Corporation, Motion Drivetronics Pvt Ltd, NXP Semiconductors, Toyo Denki Seizo K.K, Toshiba Infrastructure Systems, and others.
Global Synchronous Motor Market Key Segments:
Based on mounting type
Based on voltage
Based on application
Based on end user
Rest of North America
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Asia
Rest of South America
InsightSLICE adopts a research methodology which is highly meticulous and comprehensive, yielding accurate research results. Our research methodology utilizes data triangulation model which helps in the precise collection and validation of information. Our set processes for problem solving and paid primary tools guarantee that any client requirement is met with utmost diligence and accuracy. Some of the primary components that are consequential to our research approach are:
Secondary Research or Desk Research
Distinctive Data Model
Secondary Sources include but are not limited to:
Past Published Research
Historical Data and Information
Primary Sources include but are not limited to:
InsightSLICE also leverages three types of data triangulation approaches as follows:
Data Source Triangulation
Extracting data and validation from multiple type of secondary and primary sources
Combining various methodologies to validate data inputs
Applying different theories to check credibility of data sets