Synchronous Motor Market: Revenue Growth is Making Marketplace Explosive

Synchronous motor is an alternate current motor in which at steady state the rotation of the shaft is synchronized with the frequency of the supply current. The integral number of alternate current cycles is exactly equal to the rotation period. The major components of the synchronous motor are stator and rotor. The stator is stationary and carries armature winding of the motor, while the motor rotates at the same speed as that of rotating magnetic field and carries the field windings, therefore, it is called the synchronous motor. Synchronous motors are used where precise and constant speed is required such as positioning machines, robot actuators, and servomotor.

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Increase in demand for electricity is a major driver of the global synchronous motor market. The advantages of the synchronous motor such as power factor correction, high efficiency, and optimum energy consumption are boosting its demand, globally, thereby augmenting the market growth. However, synchronous motors require direct current excitation, which must be supplied from external sources, as it is not self-starting motors; this acts as the major restraint of the synchronous motor market.

High demand for low energy consumption is met by synchronous motor; hence the market is likely to witness significant growth during the forecast period. In addition, synchronous motors have high precision at constant speed; hence, they have wide applications in the industrial sector. Moreover, they are used in timing applications such as tape recorders, record players, and ball mills in which the motor has to operate at a precise speed.

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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.

The major companies profiled in this report include Rockwell Automation, General Electric, Emerson Electric, Ndec Corporation, Toshibha Corporation, ABB Limited, Jhonson Electric Holding Ltd., Arc Systems Inc., Bosch Group, Hitachi Ltd. Additional growth strategies such as expansion of production capacities, acquisition, partnership, and research & innovation in the synchronous motor have led to attain key developments in the global synchronous motor market trends.

Key benefits of the report:
• This study presents the analytical depiction of the global synchronous motor industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global synchronous motor market share.
• The current market is quantitatively analyzed from 2022 to 2031 to highlight the global synchronous motor market growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global synchronous motor market analysis based on competitive intensity and how the competition will take shape in coming years.

Key segments covered:

By Mount
• Horizontal
• Vertical

By Application
• Mining
• Constant speed
• Tape recorders
• Others

By End user
• Oil & gas industry
• Petrochemicals
• Metal
• Paper
• Pulp
• Others

By Region
• North America (US, Canada)
• Europe (Germany, UK, France, rest of Europe)
• Asia-Pacific (China, Japan, India, rest of Asia-Pacific)
• Latin America (Brazil, Mexico, rest of LATAM)
• The Middle East
• Africa

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