Global Synchronous Motors Market Overview:
A synchronous motor is a kind of electric motor in which the shaft rotation and current applied frequency are synchronized and is normally used in industries, synchronous clocks and power factor correction equipment among other devices that require specific speed control. The transition to automation in various industries emphasizes the critical role of reliable and controllable motors, making synchronous motors an ideal choice. Key industries such as oil and gas, chemicals and power generation drive the demand for these motors, especially in high-power applications such as pumps and compressors. Further, trend towards variable motor speed, encouraging improvements in control systems and VSD (Variable Speed Drive) technologies to effectively meet evolving industrial needs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Inclination Towards the Permanent Magnet Synchronous Motors Due To Smaller Size, Lighter Weight, and Superior Efficiency
Market Growth Drivers:
Growing Demand of Synchronous Motors in Robot Actuators and Industrial Machinery Due to Its Excellent Speed Control and Increasing Demand of Automation Across Various Industries
Challenges:
High Cost of Manufacturing of Some Synchronous Motors Due to Fluctuating Price of Rare Earth Materials
Restraints:
Lower Starting Torque of Synchronous Motors Can Affect the Market Growth as High Torque is Required to Start Heavy Machinery
Opportunities:
Adoption of Renewable Energy and Rise of Smart Grids is Expected to Create Opportunities
Competitive Landscape:
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are ABB Ltd. (Switzerland), Nidec Corporation (Japan), Toyo Denki Seizo K.K. (Japan), Siemens (Germany), Toshiba Corporation (Japan), General Electric Company (United States), Robert Bosch GmbH (Germany), Emerson Electric Co. (United States), Rockwell Automation (United States), Honeywell International Inc. (United STates), Ingeteam (United States), WEG (United States) and ARC Systems Inc. (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Synchronous Motors market by 2030. Considering Market by Voltage Type, the sub-segment i.e. Low Voltage will boost the Synchronous Motors market. Considering Market by Phase Type, the sub-segment i.e. Single Phase will boost the Synchronous Motors market.
What Can be Explored with the Synchronous Motors Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Synchronous Motors Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Synchronous Motors
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Synchronous Motors market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Synchronous Motors market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Synchronous Motors Manufacturers, Suppliers & Distributors, Venture Capitalists and Private Equity Firms, Government Bodies, Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.