Global Synchronous Electric Motors Market Overview
As per MRFR analysis, the Synchronous Electric Motors Market Size was estimated at 41.12 (USD Billion) in 2022. The Synchronous Electric Motors Market is expected to grow from 42.37 (USD Billion) in 2023 to 55.4 (USD Billion) by 2032. The Synchronous Electric Motors Market CAGR (growth rate) is expected to be around 3.03% during the forecast period (2024 - 2032).
Key Synchronous Electric Motors Market Trends Highlighted
The Synchronous Electric Motors Market is experiencing a surge in demand driven by increasing automation in manufacturing and industrial sectors. The growing need for energy efficiency and precision control further propels market growth. Advancements in motor design and materials are enhancing performance and reliability, creating opportunities for adoption in various industries.
Key market drivers include government regulations promoting energy efficiency, rising demand for electric vehicles, and the expansion of renewable energy systems. The emergence of smart factories and the adoption of Industry 4.0 principles are also driving demand for synchronous motors with advanced features such as integrated sensors and connectivity.
Recent trends in the synchronous electric motors market include the integration of artificial intelligence (AI) and machine learning (ML) to optimize motor performance, the development of high-torque motors for heavy-duty applications, and the increasing use of permanent magnet synchronous motors (PMSMs) due to their high efficiency and compact size. These trends shape the future of the market, offering opportunities for manufacturers to innovate and cater to specific industry requirements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Synchronous Electric Motors Market Drivers
Growing Demand for Energy-Efficient Motors
Synchronous electric motors are highly efficient, offering significant energy savings compared to traditional induction motors. This factor is driving their adoption across various industries, including manufacturing, transportation, and utilities. The increasing focus on sustainability and reducing carbon emissions is further propelling the demand for synchronous electric motors. As governments and industries worldwide implement stricter energy efficiency standards, the adoption of synchronous electric motors is expected to accelerate, contributing to the growth of the Synchronous Electric Motors Market.
Technological Advancements and Innovations
Ongoing advancements in materials, design, and manufacturing processes are leading to the development of more efficient and compact synchronous electric motors. These innovations result in improved performance, reliability, and durability, making synchronous electric motors a preferred choice for demanding applications. Moreover, the integration of smart technologies, such as sensors and controls, is enhancing the functionality and efficiency of synchronous electric motors.
These advancements are expected to drive the adoption of synchronous electric motors across various industries, further contributing to the growth of the Synchronous Electric Motors Market.
Expansion of Renewable Energy Sources
The growing adoption of renewable energy sources, such as solar and wind power, is creating new opportunities for synchronous electric motors. These motors are well-suited for use in renewable energy applications due to their ability to operate at variable speeds while maintaining high efficiency. As the world transitions towards a more sustainable energy mix, the demand for synchronous electric motors in renewable energy systems is expected to rise, positively impacting the growth of the Synchronous Electric Motors Market.
Synchronous Electric Motors Market Segment Insights
Synchronous Electric Motors Market Power Range Insights
The power range segment is a key factor in the Synchronous Electric Motors Market segmentation. The power range of synchronous electric motors can vary greatly, with different power ranges suited to different applications. Some of the most common power ranges for synchronous electric motors include 0.75-5 kW. This power range is typically used for small to medium-sized applications, such as fans, pumps, and compressors. Motors in this range are relatively inexpensive and easy to maintain, making them a popular choice for a wide range of applications.
5-15 kW: This power range is typically used for medium-sized applications, such as industrial machinery and conveyors. Motors in this range offer a good balance of power and efficiency, making them a good choice for applications that require moderate power levels. 15-30 kW: This power range is typically used for larger applications, such as cranes and elevators. Motors in this range offer high power output and are designed for heavy-duty applications. 30 kW and above: This power range is typically used for very large applications, such as mining equipment and power generation.
Motors in this range offer the highest power output and are designed for the most demanding applications. The power range segment is expected to grow steadily in the coming years, driven by the increasing demand for synchronous electric motors in a wide range of applications. The growth of the power range segment is also expected to be supported by the development of new technologies, such as high-efficiency motors and variable-speed drives.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Synchronous Electric Motors Market Application Insights
The Synchronous Electric Motors Market is segmented by Application into Industrial Automation, Aerospace Defense, Oil and Gas, Healthcare, and Others. Industrial Automation is the largest application segment, accounting for over 30% of the Synchronous Electric Motors Market revenue in 2023. Synchronous electric motors are used in a wide range of industrial automation applications, such as robotics, machine tools, and conveyor systems. The growing demand for automation in manufacturing and other industries is driving the growth of this segment.
Aerospace Defense is another significant application segment for synchronous electric motors. Synchronous electric motors are used in a variety of aerospace and defense applications, such as aircraft engines, missiles, and radar systems. The growing demand for advanced aerospace and defense systems is driving the growth of this segment. Oil and Gas is a growing application segment for synchronous electric motors. Synchronous electric motors are used in a variety of oil and gas applications, such as drilling rigs, pumps, and compressors. The growing demand for oil and Gas is driving the growth of this segment.
Healthcare is another growing application segment for synchronous electric motors. Synchronous electric motors are used in a variety of healthcare applications, such as medical imaging equipment, surgical robots, and patient monitoring systems. The growing demand for advanced healthcare technologies is driving the growth of this segment. Other applications for synchronous electric motors include marine, transportation, and renewable energy. These segments are expected to grow steadily in the coming years, driven by the increasing demand for energy-efficient and reliable electric motors.
Synchronous Electric Motors Market Operating Voltage Insights
The Synchronous Electric Motors Market segmentation by Operating Voltage includes low voltage (up to 1,000 V), medium voltage (1,000 to 33,000 V), and high voltage (33,000 V and above). Low-voltage synchronous motors are commonly used in industrial applications such as pumps, fans, and compressors. Medium voltage motors find application in traction, crane, and other industrial machinery applications. High-voltage synchronous motors are used in power generation, transmission, and distribution systems. The low voltage segment is expected to witness significant growth over the forecast period due to increasing demand from the industrial sector.
The medium voltage segment is also expected to grow at a steady pace due to rising demand from the infrastructure and transportation sectors. The high voltage segment is expected to grow at a moderate pace due to increasing demand from the power generation and transmission sectors.
Synchronous Electric Motors Market Cooling Method Insights
The Synchronous Electric Motors Market is segmented based on cooling methods into air-cooled and liquid-cooled motors. The air-cooled segment held the largest market share in 2023, accounting for over 60% of the Synchronous Electric Motors Market revenue. Air-cooled motors are more commonly used in low-power applications, such as fans and pumps, due to their lower cost and simpler design. Liquid-cooled motors are typically used in high-power applications, such as generators and compressors, where efficient heat dissipation is critical.
The liquid-cooled segment is expected to grow at a faster rate than the air-cooled segment over the forecast period, owing to the increasing demand for high-power motors in various industries.
Synchronous Electric Motors Market Frame Size Insights
Frame Size The Synchronous Electric Motors Market is segmented by frame size into IEC Frame Size and NEMA Frame Size. The IEC Frame Size segment held the largest market share in 2023, accounting for over 60% of the global revenue. The NEMA Frame Size segment is expected to grow at a faster CAGR during the forecast period, owing to the increasing demand for motors with higher power density and efficiency in industrial applications. The IEC Frame Size segment includes motors with frame sizes ranging from 56 to 450, while the NEMA Frame Size segment includes motors with frame sizes ranging from 143T to 449/5010.
IEC frame-size motors are typically used in industrial applications, such as pumps, fans, and compressors, while NEMA frame-size motors are typically used in commercial and residential applications, such as air conditioners, refrigerators, and washing machines. The growth of the Synchronous Electric Motors Market is attributed to the increasing demand for energy-efficient motors in various industries. The market is also driven by the growing adoption of electric vehicles and the increasing demand for motors in renewable energy applications. The market is expected to witness significant growth in the coming years, owing to the increasing adoption of automation and the growing demand for motors in emerging economies.
Synchronous Electric Motors Market Regional Insights
The Synchronous Electric Motors Market is segmented into North America, Europe, APAC, South America, and MEA. The North American region is expected to hold the largest market share in 2023, owing to the presence of key market players and the increasing adoption of synchronous electric motors in various industries. The European region is expected to witness significant growth due to government regulations promoting energy efficiency and the rising demand for industrial automation. The APAC region is projected to grow rapidly, driven by the increasing industrialization and urbanization in countries like China and India.
The South American and MEA regions are expected to experience moderate growth due to the increasing adoption of synchronous electric motors in the mining, oil gas, and construction industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Synchronous Electric Motors Market Key Players And Competitive Insights
Major players in the Synchronous Electric Motors Market are focusing on expanding their global presence and increasing their market share. Leading Synchronous Electric Motors Market players are investing in research and development to develop new and innovative products. The Synchronous Electric Motors Market is expected to witness significant growth in the coming years, owing to the increasing demand for energy-efficient motors in various industries. The competitive landscape of the Synchronous Electric Motors Market is expected to remain fragmented, with a number of key players competing for market share.
Prominent player ABB Ltd. offers a wide range of synchronous electric motors, including low-voltage motors, medium-voltage motors, and high-voltage motors. The company's motors are used in a variety of applications, including industrial machinery, power generation, and transportation. ABB Ltd. has a strong global presence, with manufacturing facilities in over 50 countries. The company's focus on innovation and customer service has helped it to maintain a leading position in the Synchronous Electric Motors Market.
Another major player in the Synchronous Electric Motors Market is Siemens AG. The company offers a comprehensive range of synchronous electric motors, including induction motors, synchronous reluctance motors, and permanent magnet motors. Siemens AG's motors are used in a wide variety of applications, including industrial machinery, power generation, and transportation. The company has a strong global presence, with manufacturing facilities in over 190 countries. Siemens AG's focus on quality and reliability has helped it to maintain a leading position in the Synchronous Electric Motors Market.
Key Companies in the Synchronous Electric Motors Market Include
- Yaskawa Electric
- Maxon
- ABB
- Nidec Corporation
- Oriental Motor
- WEG
- Emerson
- Siemens
- Rockwell Automation
- Mitsubishi Electric
- AMK
- Danfoss
- Lenze SE
- TMEIC
- Parker
Synchronous Electric Motors Market Developments
Government regulations promoting the use of energy-efficient motors and rising investments in renewable energy projects are further bolstering demand. Key market players are focusing on product innovation and strategic partnerships to gain a competitive edge. Recent developments include the launch of high-efficiency motors with advanced cooling systems and the integration of smart technologies for remote monitoring and control.
Synchronous Electric Motors Market Segmentation Insights
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Synchronous Electric Motors Market Power Range Outlook
- 75-5 kW
- 5-15 kW
- 15-30 kW
- 30 kW and above
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Synchronous Electric Motors Market Application Outlook
- Industrial Automation
- Aerospace Defense
- Oil and Gas
- Healthcare
- Other
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Synchronous Electric Motors Market Operating Voltage Outlook
- Low voltage (up to 1,000 V)
- Medium voltage (1,000 to 33,000 V)
- High voltage (33,000 V and above)
-
Synchronous Electric Motors Market Cooling Method Outlook
-
Synchronous Electric Motors Market Frame Size Outlook
- IEC Frame Size
- NEMA Frame Size
-
Synchronous Electric Motors Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
41.12 (USD Billion) |
| Market Size 2023 |
42.37 (USD Billion) |
| Market Size 2032 |
55.4 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.03% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Yaskawa Electric,Maxon , ABB ,Nidec Corporation,Oriental Motor,WEG , Emerson ,Siemens,Rockwell Automation,Mitsubishi Electric , AMK ,Danfoss , Lenze SE , TMEIC ,Parker |
| Segments Covered |
Power Range,Application , Operating Voltage , Cooling Method ,Frame Size ,Regional |
| Key Market Opportunities |
Smart grid technologies Adoption of synchronous motors for grid stabilization and reliability  Industrial automation Growing demand for high precision and energyefficient motors in automated processes  Electric vehicle propulsion: Increasing popularity of electric vehicles and the need for high performance motors  Renewable energy integration Utilization of synchronous motors in wind and solar power generation  Industrial motion control Rising need for precise and responsive motors in robotics and other motion control applications |
| Key Market Dynamics |
1 Increasing Demand for Energy Efficiency 2 Growing Adoption in Industrial Applications 3 Advancements in Motor Design Technology 4 Government Incentives for Energy Conservation 5 Rising Penetration of Renewable Energy Sources |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Synchronous Electric Motors Market is expected to reach an overall valuation of 42.37 billion USD in 2023.
The Synchronous Electric Motors Market is projected to reach an overall valuation of 55.4 billion USD in 2032, exhibiting a CAGR of 3.03% from 2023 to 2032.
The Asia-Pacific region is anticipated to dominate the Synchronous Electric Motors Market during the forecast period due to rapid industrialization and increasing demand for energy-efficient solutions.
Synchronous Electric Motors are widely used in various industrial applications such as compressors, pumps, fans, and conveyors.
Key competitors in the Synchronous Electric Motors Market include Siemens, ABB, WEG, Nidec, and Rockwell Automation.
The growth of the Synchronous Electric Motors Market is primarily driven by rising demand for energy efficiency, increasing automation in industries, and government regulations promoting the adoption of sustainable technologies.
Challenges faced by the Synchronous Electric Motors Market include intense competition, fluctuating raw material prices, and technological advancements leading to the development of alternative motor technologies.
Emerging trends in the Synchronous Electric Motors Market include the integration of smart technologies, the adoption of permanent magnet motors, and the development of energy-efficient designs.
The COVID-19 pandemic had a moderate impact on the Synchronous Electric Motors Market, causing temporary disruptions in supply chains and project delays. However, the market is expected to recover as industries resume operations and demand for energy-efficient solutions increases.
The Synchronous Electric Motors Market is expected to witness steady growth over the coming years, driven by increasing urbanization, rising awareness about energy efficiency, and the adoption of sustainable practices across industries.
