Synchronous Motors Market: Overview
The rising demands for electricity, together with an exponential flow in the cost of electricity collectively fuel the global synchronous motor market. Synchronous motors offer a huge number of benefits, for example, power aspect correction to decrease energy usage and high effectiveness, which facilitates its acceptance in the manufacturing division. Synchronous motors are extensively utilized in industries and they can also be used as generators or motors, depending on industry choice. A synchronous motor generally runs at a synchronous speed, i.e., at a stable speed with an offered frequency, while contributing greater constancy. Owing to high performance, low power loss, minimal maintenance needs as well as flexibility in adapting to varied machinery layouts, synchronous motors are gradually gaining popularity amongst consumers.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Synchronous motors are usually confused with self-starting motors. External DC supply is needed to stimulate the motor which is close to the synchronous speed. Even though synchronous motors are more intricate, large synchronous motors are more proficient compared to induction motors and are competent of sustaining a stable operation speed even in excess conditions as well as voltage discrepancy. A synchronous motor can function under principal or lagging power aspects. They are competent of power aspect correction and function at high efficiencies, thus decreasing the cost of energy usage by delivering reactive power to the network
Synchronous Motors Market: Growth Factors
Important factors fueling the market growth are raising demand and need for energy proficient less power-consuming motors, increasing demand of PMSMs in industrial and agricultural division, and growing alertness towards the usage of green vehicles. In addition, growing prominence on the protection and usage of standard motors is expected to create prospects for the global synchronous motors market development in the future.
Synchronous Motors Market: Segmentation
The global synchronous motors market is divided based on magnet type, applications, motor type, power range, and geography. Synchronous motors are competent, have high power density, deliver precise speed control, and longer insulation & bearing life over AC induction motors. This compensation drives the synchronous motors. Further, samarium cobalt (SmCo5 and Sm2Co17), neodymium (NdFeB), and ferrite are some most important magnet types, in the market. These magnets are utilized in the magnetic pump couplings, motor drives, sensors, starter motors, generators, and so on.
Synchronous Motors Market: Regional Analysis
Geographically, the synchronous motors market is divided across Europe, North America, Asia Pacific, and LAMEA. Asia-Pacific held the major market share in the previous year; on the other hand, LAMEA is likely to observe maximum growth rate in the coming future due to augment in demand for these kinds of motors. Asia Pacific is predicted to control the global synchronous motor market owing to aspects for instance: development in manufacturing industries and growing knowledge about energy efficiency.
Synchronous Motors Market: Competitive players
The key players of the global synchronous motors market are Mitsubishi, Hitachi, ABB, Siemens AG, GE, Emerson and many others.
Global Synchronous Motors Market: Regional Segment Analysis
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