Synchronous Electric Motor Market: Worldwide Industry Analysis and New Market Opportunities Explored
For purpose of in depth analysis, the synchronous electric motor market has been segmented on the basis of mounting type, voltage class, application and geography. Based on the mounting type, the market has been segmented into two types they are like horizontal mounting synchronous motor and vertical mounting synchronous motor.Based on the voltage class, the market has been segmented into two types they are likemedium voltage class synchronous motor and low voltage class synchronous motor. Various types of applications of synchronous electric motors include compressors, pumps, fans, conveyer belts, extruders and mixers among others. Moreover, this report also provide cross functional analysis of all the above mentioned segment across different regions such as Europe, North America, Asia Pacific, Middle East and Africa and Latin America.
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Increasing demand for fans for the purpose of heating, ventilation and cooling system in building automation is acting as a major growth driver for the synchronous electric motor market. Rising demand of synchronous electric motor in agriculture and industrial sector and increase in government incentives are acting as a key growth drivers for this market. Therefore, the rising demand of electric motors for HVAC application is anticipated to increase the growth of synchronous electric motor market during the forecast period from 2017 to 2025. In addition, very high efficiency which is associated with the synchronous electric motors keeps it in an advantageous position in comparison to the induction motors in turn this is also anticipated to increase the demand of synchronous electric motors in coming years.
In spite of many driving factors, the synchronous electric motor marketis expected to show a very slow growth almost at a snail’s pace because of high initial cost of the electric motors. Less portability of the electric motor and standardization of policies in the emerging economies are restraining factors for the synchronous electric motor market. Reduced under loading, improved power quality and rewinding are few factors which are going to create significant opportunity for synchronous electric motor in coming years.Apart from that the growth of usage of energy efficient motors is also acting as an opportunity for the synchronous electric motor marketin the forecast period from 2017-2025.
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By application, the fans type held the largest market share because by using the synchronous electric motor, the speed of fan can be easily controlled through variable motor speed operation.Various application of the synchronous motor in heating and cooling unit has increased meaningfully in recent past, and this trend is expected to be continued in the coming future, due to its speed control property and enhanced electric system efficiency.
Geographically, the global synchronous electric motoris mainly driven by the Asia Pacific region. Growing demand of electric motors in the manufacturing industries and increasing awareness about the energy efficiency is driving the market of Asia Pacific region. Rising energy cost expected to drive the synchronous electric motorrapidly across various industries. This region is expected to maintain its dominance in the market during the forecast period owingto the presence of huge number of electric motor manufacturers in countries like China and India among others.
Some of the leading players operating in the synchronous electric motor market includes Rockwell Automation(The U.S.),General Electric (The U.S.), Emerson Electric (The U.S.),Nidec Corporation (Japan),Toshiba Corporation (Japan),ABB Limited (Switzerland),Siemens AG (Germany),WEG S.A. (Brazil), and Johnson Electric Holding Ltd. (Hong Kong) among others.
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