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Synchronous Reluctance Motor (SynRM) Market Size 2024 to 2031.

04-13-2024 12:01 PM CET | Chemicals & Materials

Press release from: Report Prime

Synchronous Reluctance Motor (SynRM) Market Size 2024 to 2031.

Market Overview and Report Coverage

A Synchronous Reluctance Motor (SynRM) is a type of electric motor that operates on the principle of reluctance torque. It is known for its high efficiency, energy savings, and low maintenance requirements. The market for SynRM is expected to experience significant growth in the coming years, with a projected compound annual growth rate (CAGR) of 12.70% during the forecasted period.
The future outlook for the SynRM market is promising, driven by increasing demand for energy-efficient motors in various industries such as automotive, industrial, and commercial sectors. The growing emphasis on reducing carbon footprint and achieving sustainability goals is also expected to propel the adoption of SynRM technology in the coming years.
Current trends in the market indicate a rising awareness among end-users about the benefits of SynRM technology, leading to a shift towards more energy-efficient motor solutions. Manufacturers are investing in research and development activities to enhance the performance and efficiency of SynRM motors, further boosting market growth.
Overall, the future looks bright for the Synchronous Reluctance Motor (SynRM) Market, with a positive outlook for continued growth and adoption of this advanced motor technology.

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Market Segmentation
The Synchronous Reluctance Motor (SynRM) Market Analysis by types is segmented into:
• 0-30 KW
• 30-100 KW
• Above 100 KW

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The Synchronous Reluctance Motor (SynRM) market is segmented into three main categories based on power output: 0-30 KW, 30-100 KW, and above 100 KW. The 0-30 KW segment caters to smaller applications and industries with lower power requirements. The 30-100 KW market targets medium-sized applications with moderate power needs. The above 100 KW segment serves larger industries and applications with high power demands. Each market type offers SynRM motors tailored to meet specific power requirements and application needs.

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The Synchronous Reluctance Motor (SynRM) Market Industry Research by Application is segmented into:
• Process Industries
• Discrete Industries
• Transportation

Synchronous Reluctance Motors (SynRM) find application in various sectors such as process industries, discrete industries, and transportation. In process industries, SynRM motors are used for pumps, fans, and compressors. In discrete industries, these motors are employed in machines and equipment for manufacturing processes. In the transportation sector, SynRM motors are utilized in electric vehicles and hybrid vehicles. The high efficiency, reliability, and low maintenance requirements of SynRM motors make them suitable for these diverse applications.

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In terms of Region, the Synchronous Reluctance Motor (SynRM) Market Players available by Region are:

North America:
• United States
• Canada

Europe:
• Germany
• France
• U.K.
• Italy
• Russia

Asia-Pacific:
• China
• Japan
• South Korea
• India
• Australia
• China Taiwan
• Indonesia
• Thailand
• Malaysia

Latin America:
• Mexico
• Brazil
• Argentina Korea
• Colombia

Middle East & Africa:
• Turkey
• Saudi
• Arabia
• UAE
• Korea


What are the Emerging Trends in the Global Synchronous Reluctance Motor (SynRM) market?
Emerging trends in the global synchronous reluctance motor (SynRM) market include the growing demand for energy-efficient electric motors, advancements in motor technology leading to improved performance and reliability, and increasing adoption of SynRM in various industries such as automotive, industrial, and HVAC. Additionally, the focus on reducing carbon emissions and promoting sustainable practices is driving the adoption of SynRM motors as they offer higher efficiency and lower operating costs compared to traditional motors. Moreover, the development of smart and connected SynRM motors with IoT capabilities is expected to further drive market growth in the coming years.

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Major Market Players
ABB is a leading player in the competitive Synchronous Reluctance Motor (SynRM) market. ABB has a rich history dating back to the late 19th century and has continuously evolved and adapted to meet the changing needs of the market. The company has experienced significant market growth in recent years, driven by its focus on innovation and technology. ABB's SynRM products are known for their high efficiency, reliability, and performance, making them a preferred choice for many customers.
Siemens is another key player in the SynRM market, with a long-standing reputation for quality and innovation. Siemens has been a major player in the motor industry for decades and has a strong presence in the global market. The company has seen steady market growth in recent years, thanks to its diverse product portfolio and strong customer relationships. Siemens is known for its commitment to sustainability and environmental responsibility, making its SynRM products popular among environmentally-conscious customers.
KSB (REEL) is a well-known player in the SynRM market, with a history dating back over a century. KSB has a strong market presence in Europe and has been expanding its reach in other regions as well. The company has experienced steady market growth in recent years, driven by its focus on customer satisfaction and product quality. KSB's SynRM products are known for their durability and efficiency, making them a top choice for many industrial applications.
In terms of sales revenue, ABB reported a revenue of $28.6 billion in 2020, while Siemens reported a revenue of $57.1 billion in the same year. KSB (REEL) reported a revenue of $3.9 billion in 2020, highlighting the strong market position of these companies in the SynRM market.

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