Press release
Surging Demand for Efficient Motors: Switch Reluctance Motor Market to Hit $978.6M by 2033 at 6% CAGR
Switch Reluctance Motor Market
๐ฐ ๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/A323782
Prime determinants of growth
The global switch reluctance motor market is experiencing growth due to several factors such as growing adoption of hybrid and electric vehicles. However, the high cost of motors restrains the growth of the market. Moreover, the rising application of switch reluctance motors offers remunerative opportunities for the expansion of the global market.
For instance, in October 2022, the Indian government declared that it would open 42 oil and gas blocks for exploration and production through worldwide competitive bidding. India will more than double the area under investigation and production of oil and gas to 0.5 million square kilometres by 2025 and 1 million square kilometres by 2030, intending to raise domestic output and reduce reliance on imported fuel, thus creating a favourable outlook for demand for industrial motors in the oil and gas industry.
๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ฒ๐ฉ๐
The multiphase segment is expected to witness rapid growth throughout the forecast period.
By product type, the multiphase segment generated the largest share in 2023 owing to multiphase switch reluctance motors offer improved performance and efficiency compared to their single-phase counterparts. They provide higher torque density, better fault tolerance, and smoother operation, which are critical for applications in industries such as automotive, aerospace, and industrial machinery. Additionally, the increasing demand for energy-efficient and high-performance motors in electric vehicles and renewable energy systems has driven the adoption of multiphase technology.
๐ฐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/A323782
๐๐ฒ ๐๐ฉ๐๐ซ๐๐ญ๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ
The above 500 kilowatts segment is expected to witness rapid growth throughout the forecast period.
By operating power, electric motors with power ratings above 500 kilowatts are commonly used in heavy-duty industrial applications, large-scale machinery, and power production systems. These high-power motors serve an important role in driving huge equipment and facilitating large industrial operations, emphasizing durability and dependability.
๐๐ฒ ๐๐ง๐-๐๐ฌ๐๐ซ
The industrial segment is expected to witness rapid growth throughout the forecast period.
By end user, in the industrial sector, switch reluctance motors (SRMs) are increasingly preferred for their robustness, efficiency, and simplicity. These motors are particularly well-suited for variable speed drives, which are essential in applications such as pumps, fans, compressors, and conveyors. Their ability to operate efficiently over a wide range of speeds and under varying load conditions makes them ideal for industrial automation and process control systems.
๐๐ฒ ๐๐๐ ๐ข๐จ๐ง
Asia-Pacific region to maintain its dominance by 2033.
Region wise, the adoption of switch reluctance motors for industrial applications in China is also likely to be boosted by smart manufacturing efforts. According to the Ministry of Industry and Information Technology, the Chinese government has launched many smart manufacturing pilot projects. According to the 13th five-year plan, the country wants to develop an intelligent manufacturing system and accomplish crucial industrial transformations by 2025. As a result of such initiatives, automakers have expanded their manufacturing facilities in China, indicating a positive prognosis for industrial motor demand during the forecast period.
๐๐๐๐๐ง๐ญ ๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐๐ง๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐๐ฌ
๐๐ง ๐๐๐ซ๐๐ก ๐๐๐๐, Nidec SR Drives Ltd made important advancements in the switching reluctance motor (SRM) market. They just created the Nidec SR Drives Switched Reluctance Motor System. This SRM system is designed for a variety of uses, including industrial machines, electric vehicles, and renewable energy systems. Nidec SR Drives is well-known for its skill in developing and manufacturing revolutionary electric motor and drive solutions, including those based on switching reluctance technology.
๐๐ง ๐๐ฎ๐ ๐ฎ๐ฌ๐ญ ๐๐๐๐, Enedym Inc., a global leader in the development of next generation switched reluctance motors (SRMs) and other products, has collaborated with the Napino Group, one of India's leading automotive electronic product suppliers, to develop and manufacture complete motor solutions for two-wheeler electric vehicles in India.
๐ฐ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/switch-reluctance-motor-market/purchase-options
๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Enedym Inc.
Infineon Technologies AG
Nidec SR Drives Ltd.
E. KRETZSCHMAR
Domel, d.o.o.
Maccon
Renesas Electronics Corporation
Ramco Electric Motors
Regal Beloit Corporation
Turnide
Advanced Electric Machines (AEM)
The report provides a detailed analysis of these key players in the global switch reluctance motor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ
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๐๐จ๐ง๐ญ๐๐๐ญ:
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