Synchronous Motors Market Size, Share and Global Trend By Mounting Type (Horizontal, Vertical), By Voltage (Low, Medium), By Application (Compressors, Pumps, Fans, Extruders, Mixers, Conveyor Belts, Others), By End-User (Oil & Gas, Metal & Mining, Paper & Pulp, Chemicals & Petrochemicals, Automotive, Others) and Regional Forecast, 2024-2032

Synchronous motors are alternating current motors which consist of a spinning rotor with coils that pass magnets at the same rates as that of the alternating current and the resulting rotating magnetic field that is responsible for driving the rotor. Synchronous motors are available in small to large industrial sizes depending on the application for which they are to be used.

In small sizes, the synchronous motors are used where the constant speed is required, and the synchronous motors with higher ratings provide higher efficiency for converting the AC energy to work and ensure correction of power factor. The speed and torque characteristics possessed by the synchronous motors are ideal for the reciprocating compressors and driving higher horsepower.

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By mounting type, the synchronous motors market is bifurcated as horizontal and vertical mounting. Based on voltage, the synchronous motor market is classified as low voltage and medium voltage motors. The medium voltage synchronous motors are used in the process industries while the low voltage synchronous motors are used in the pharmaceutical machinery, gearless elevators, and packing machines among others. The low voltage synchronous motor is expected to dominate the synchronous market owing to a wide range of applications of low voltage over the high voltage synchronous motors.

Based on application, the synchronous motors market is segmented into compressors, pumps, fans, extruders, mixers, conveyor belts, and others application depending on their operating frequencies. By end-user, the market is segmented as oil & gas, metal & mining, paper & pulp, chemical & petrochemicals, automotive, and others.

Growing concerns for environmental safety and CO₂ emissions have shifted the attention of people towards using renewable and clean energy sources. Owing to this, the electric vehicle demand has grown significantly in different regions. Subsidies offered by local governments are among the key reasons for the growth of the electric vehicle market.

The synchronous motors are being adopted by various manufacturers involved in the electric vehicle market over the conventional induction motors. Owing to this, the synchronous motors are expected to witness a surge in the market growth in the near future.

Growth in the power generation industry is expected to create a platform for the sales growth of the synchronous motors for the manufacturing of synchronous generators in the coming years. The cost per kilowatt of the synchronous motors is high as compared to the induction motors. This is expected to hamper the growth of the synchronous motor market over the future.

Key Players Covered

Some of the major companies that are present in the global synchronous motors market are GE Grid Solutions Heinzmann GmbH & Co. KG, Baumuller Nurnberg GmbH, Siemens, Fuji Electric Co., Ltd, Oriental Motor USA, Bosch Rexroth Australia, Automatic IT Services Pvt, Ltd, Infineon Technologies, NXP Semiconductors, Nidec Servo Corporation, Motion Drivetronics Pvt Ltd, Toyo Denki Seizo K.K, and Toshiba Infrastructure Systems and Solutions Corporation among others.

SEGMENTATION 

Regional Analysis

The global synchronous motors market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The power generation industry in the North America region has grown significantly in the recent past. Additionally, increasing renewable capacities in the region are expected to drive the power generation industry in the region. Owing to the growth of the power generation industry in North America, the synchronous motors market is expected to witness healthy growth over the forecast period. Latin America region is focused on providing more electricity across countries such as Brazil, Mexico, and Argentina, among others. Owing to this, the synchronous motors market is expected to gain traction in the region. The electric vehicles market in the Europe region is expected to grow at a higher rate owing to the initiatives by the local governments for promoting the use of clean energy sources. Norway is among the key market for electric vehicle sales in the Europe region owing to high sales of electric vehicles in the country. Owing to the growth of the electric vehicle market in Europe, the sale of synchronous motors is expected to remain high in the region. China is reported to be one of the key markets for electric cars by the International Energy Agency. The electric vehicle industry in the Asia Pacific region is expected to grow at a significant rate in the coming years owing to the stringent policies related to vehicular emissions and increasing concern for the CO2 emissions in the region. The growth of the electric vehicle industry in the region is expected to boost the market growth of the synchronous motors during the forecast period. Increasing renewable capacities in the Middle East and Africa region are expected to add in the growth of the power generation industry in the Middle East and Africa region. Owing to this, the synchronous motors market is expected to grow at a significant rate in the region.

Key Industry Developments

• In July 2019, Hyundai has launched an electric SUV in the Indian market under the brand name Kona. The vehicle uses a permanent magnet synchronous motor that delivers around 395 Nm of torque. Companies involved in electric vehicle manufacturing are focused on using synchronous motors to deliver high performance and efficiency
• In July 2019, has launched a new electric bike under the brand name LiveWire. The company has installed a permanent magnet synchronous motor in the bike and has named it as Revelation
• In April 2019, Tesla has introduced a new motor technology for it’s Model S range which is expected to boost the range by 10%. The motor technology is called a permanent magnet synchronous motor or synchronous reluctance motor