Synchronous Motor Market Size, Share, Opportunities, And Trends By Type (Non-excited Synchronous Motor (Hysteresis Synchronous Motor, Reluctance Synchronous Motor, Permanent Magnet Synchronous Motor, Direct Current Excited Synchronous Motor)), By Mounting Type (Horizontal, Vertical), By Application Type (Robot Actuator, Substations, Centrifugal Pumps, Compressor, Line-Shaft, Others), And By Geography - Forecasts From 2023 To 2028

The global synchronous motor market is estimated to grow at a CAGR of 3.57% during the forecast period.

A synchronous motor refers to an electric motor that operates at a synchronous speed known as synchronous speed. This type of motor generates an electromotive force (EMF) at this consistent speed. There are various types of synchronous motors, including hysteresis synchronous motors, reluctance synchronous motors, permanent magnet synchronous motors, and direct current excited synchronous motors. The expansion of renewable energy and the rise in industrialization are the prominent drivers to boost the synchronous motor market size year-by-year.

The growth in the renewable energy sector drives the synchronous motor market growth.

The synchronous motor industry is thriving due to the rapid expansion of renewable energy sources, particularly wind and solar power. Synchronous motors are widely used in wind turbines and solar power plants. These motors ensure efficient power generation by maintaining synchronization with the grid and delivering stable electrical output. Growing renewable energy demands reliable and synchronized power generation. As per the International Energy Agency, in 2021 renewable electricity generation expanded by almost 8%, reaching up to 8 300 TWh.

The rise in automation and robotics boosts the synchronous motor market size

Industries across various sectors are adopting automation and robotics to enhance productivity and operational efficiency. In this context, synchronous motors play a crucial role as they are extensively utilized in automation systems and robotic applications. These motors are preferred due to their ability to provide precise control, high torque output, and synchronous operation. According to the International Federation of Robotics (IFR), the installation of new industrial robots in factories reached an all-time high in 2021, with a number of 517,385 units installed. This remarkable figure represents a growth rate of 31% year-on-year. The increase in robot installations signifies the accelerating adoption of automation and robotics across industries worldwide.

Rise in demand for electric vehicles production

The surge in electric vehicles has significantly propelled the demand for the synchronous motors industry. These motors are used in the electric vehicle industry as they provide high efficiency, compact size, and excellent torque control capabilities. The growing demand for EVs has boosted the expansion of the synchronous motor market. According to the International Energy Agency, In 2021, the majority of electric car sales worldwide were dominated by China and Europe, accounting for over 85% of the total. The United States followed suit, representing 10% of global sales.

Asia Pacific region is expected to dominate the market.

The Asia-Pacific region is witnessing significant growth in the synchronous motor market, primarily driven by the integration of renewable energy sources like wind and solar power. This surge in renewables has created a higher demand for reactive power compensation and voltage regulation, which can be effectively met by synchronous motors. Furthermore, ongoing grid modernization initiatives aimed at improving power system reliability, stability, and efficiency have further accelerated the adoption of the synchronous motors industry. As a result, the synchronous motor market in the Asia-Pacific region has experienced remarkable expansion. According to the International Renewable Energy Agency (IRENA), the Asia-Pacific region installed a staggering 1522.2 GW of renewable energy capacity in 2021.

The initial investment is a challenge to the Synchronous Condenser industry.

The synchronous motor industry encounters a challenge concerning the high initial costs associated with the installation and integration of synchronous motors into power systems. These costs encompass equipment procurement, engineering services, and infrastructure development. In regions with limited financial resources or tight budgets, these expenses can discourage potential buyers from investing in synchronous condensers. Put simply, the upfront investment required can act as a barrier for many buyers, thus impeding the growth of the synchronous motor market.

Key Developments

• August 2022: GE Power Conversion and Sulzer Electro Mechanical Services (EMS) signed a partnership on August 05 2022, to supply 20% Higher Power Capacity with a Synchronous Motor. A 30-pole synchronous motor with collector rings offers 20% higher power capacity compared to its previous version, ensuring a seamless installation process without causing unnecessary downtime.
• June 2022: Nidec Corporation introduced SynRA (Synchronous Reluctance Motor with Aluminium Cage Rotor) on June 30, 2022. This groundbreaking innovation marks the world's first high-efficiency synchronous reluctance (SR) motor equipped with an aluminium cage rotor. SynRA combines the principles of an SR motor with those of a cage-type induction motor, resulting in a technologically advanced and efficient motor solution.

Company Products

• 2 poles turbo synchronous motors: This product is made by General Electric, the 2-pole turbo synchronous motor has accumulated an impressive running time of more than 1 million hours in 25 years. Additionally, the 2-pole turbo range of motors has proven to be well-suited for hazardous environments, making them a suitable choice for applications in such areas.
• MS2N Performance: MS2N motors offer a unique blend of high dynamics, compact dimensions, and exceptional energy efficiency. These motors are designed to deliver optimal performance while maintaining a compact form factor. The MS2N motors offer rotors with low and medium inertia, providing the flexibility for optimum customization based on specific application requirements.
• SMK Series Low-Speed Synchronous Motors: This product is made by Oriental Motor Co.LTD Low-speed synchronous motors offer exceptional advantages in terms of highly precise speed regulation, low-speed rotation capabilities, and rapid bi-directional rotation. These motors excel in delivering accurate and consistent rotational speeds.
• 600 Series - Synchron A & D Mount: Hansen Corporation has developed a precision timing motor specifically designed for use in appliances, instruments, event recorders, and clocks. This motor ensures accurate timing and reliable performance in various applications where precise timing is essential. This product is offered in a round case design and is available with either a two-hole or four-hole mounting plate configuration.

Synchronous Motor Market Scope:

 

Report Metric	Details
Growth Rate	CAGR of 3.57% from 2021 to 2028
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Type Mounting Type Application Type Geography
Companies Covered	Nidec Corporation General Electric Fuji Electric Co., Ltd. Bosch Rexroth AG (Robert Bosch) NXP Semiconductors
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

Segmentation

• By Type
  • Non-excited synchronous motor
    • Hysteresis synchronous motor
    • Reluctance synchronous motor
    • Permanent magnet synchronous motor
    • Direct current excited synchronous motor
  • By Mounting Type
  • Horizontal
  • Vertical
• By Application type
  • Robot Actuator
  • Substations
  • Centrifugal pumps
  • Compressor
  • Line-Shaft
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Other

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. SYNCHRONOUS MOTOR MARKET ANALYSIS, BY TYPE

5.1. Introduction

5.2. Non-Excited Synchronous Motor

5.2.1. Hysteresis Synchronous Motor

5.2.2. Reluctance Synchronous Motor

5.2.3. Permanent Magnet Synchronous Motor

5.2.4. Direct Current Excited Synchronous Motor

6. SYNCHRONOUS MOTOR MARKET ANALYSIS, BY MOUNTING TYPE

6.1. Introduction

6.2. Horizontal 

6.3. Vertical

7. SYNCHRONOUS MOTOR MARKET ANALYSIS, BY APPLICATION

7.1. Introduction

7.2. Robot Actuator

7.3. Substations

7.4. Centrifugal Pumps

7.5. Compressor

7.6. Line-Shaft

7.7. Others

8. SYNCHRONOUS MOTOR MARKET ANALYSIS, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1.  Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. UK

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. South Korea

8.6.4. India

8.6.5. Australia

8.6.6. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

10. COMPANY PROFILES

10.1. Nidec Corporation

10.2. General Electric

10.3. Fuji Electric Co., Ltd.

10.4. Bosch Rexroth AG (Robert Bosch)

10.5. NXP Semiconductors

10.6. TOYO DENKI SEIZO K.K.

10.7. Oriental Motor Co. Ltd

10.8. Toshiba Infrastructure Systems & Solutions Corporation

10.9. ZCL Electric Motor Technology Co., Ltd

10.10. Hansen Corporation (ElectroCraft Inc)

Nidec Corporation

General Electric

Fuji Electric Co., Ltd.

Bosch Rexroth AG (Robert Bosch)

NXP Semiconductors

TOYO DENKI SEIZO K.K.

Oriental Motor Co. Ltd

Toshiba Infrastructure Systems & Solutions Corporation

ZCL Electric Motor Technology Co., Ltd

Hansen Corporation (ElectroCraft Inc)