Synchronous Motor Market is estimated to grow from US$ XX Bn in 2019 to US$ XX Bn by 2027, at a CAGR 2.9% from 2019-2027. The report has analyzed the drivers, restraints,and challenges facing the Synchronous Motor Market.
Synchronous Motor is an AC motor in which, at astable state, the rotation of the shaft is synchronized with the repetition of the supply current and the revolving period is exactly equal to an essential number of AC Cycles.
The demand for low energy consumption motors is the basic factor that increases the demand for the synchronous motor market. High efficiency, dependability, and power factors correction –synchronous motors give a good mixture of solutions appropriate across an arrangement of industries. Two increasing markets for synchronous motors are the oil and gas and chemical industries; this is immensely due to the efficiency these motors provide.
In the commercial sector, expensive pricing for electricity has led to an immediate demand for energy-saving optionswhich accordingly creates a growth opportunity for the synchronous motor market. With betterment in oil prices, increased demand is predicted to increase for oil and gas; this is predicted to indirectly uplift the synchronous motor market.
Factors that are restraining the growth of this market include rising reverse trends in the industry and lower in the Greenfield expenditureand highcost, which could hamper the growth of the synchronous motors market.
The synchronous market is segmented based on Mount Type (Horizontal Mounting Synchronous Motor, Vertical Mounting Synchronous Motor), by Voltage Class (Medium Voltage, Low Voltage), by Application (Compressors, Pumps, Fans, Extruders, Mixers, and others), by End-user(Oil and gas, chemicals and petrochemicals,mining,metals, and others) and by Region (North America,Europe, AsiaPacific, Middle East and Africa, and Latin America).The larger market in the Horizontal Mounting Synchronous Motors is used for implementations such as fans, cranes, and compressor.
Vertical Mounting Synchronous Motors are utilized in applications where the motor is meant to control radial and axial thrust. They find usefulness in pumps and other applications. Synchronous motor compressors generally exceed induction motor compressors mainly when excessive ratings (5000 hp or greater) are concerned.
Based on the region, the Synchronous market is divided into North America, Europe, Asia Pacific Middle East and Africa, and Latin America. Asia-Pacific is the dominant region in the Synchronous Motors Market due to the existence of the largest mining industry, the biggest pulp and paper industry, and the biggest oil and gas market (whose carrying relies on synchronous pumps).
North American synchronous motor market is operated by its vast oil and gas industry, considerable chemical industry, and big pulp and paper industry. In Europe, the synchronous motor market is operated by demand in different manufacturing plants. The Middle East and Africa market is operated by the existence of enormous and established oil and gas industry.South America has a demand basically for synchronous pumps.
• Environmental Research Institutes
• Investors and Shareholders
• Government and research Organization
• Manufacturing Industries
• Consulting company in the energy and power sectors
• Process Industries and Power Industry associations
• Petroleum Companies (Diesel and Natural Gas Suppliers)
• Energy efficiency Consultancies
Siemens AG, General Electric, Toshiba Corporation, etc. are some of the major players attempting to penetrate developing economies and acquiring different methods to increase their market share by innovating new motors.
The objective of the report is to present a comprehensive analysis of the Synchronous Motor Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understandingSynchronous Motor Market dynamics, structure by analyzing the market segments and projects theSynchronous MotorMarket size. Clear representation of competitive analysis of key players By Voltage, price, financial position, Product portfolio, growth strategies, and regionalpresence in theSynchronous Motor Market make the report investor’s guide.
Scope of Synchronous Motor Market
Synchronous Motor Market, By Mount Type
• Horizontal Mounting Synchronous Motor
• Vertical Mounting Synchronous Motor
Synchronous Motor Market, By Voltage Class
• Medium Voltage
• Low Voltage
Synchronous Motor Market,By Application
Synchronous Motor Market, By End-user
• Oil and Gas
• Chemicals and Petrochemicals
Synchronous Motor Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Synchronous Motor Market, Key players
• ABB Limited (Switzerland)
• Nidec Corporation (Japan)
• Rockwell Automation (U.S)
• Siemens AG (Germany)
• General Electric (U.S)
• WEG S.A (Brazil)
• Toshiba Corporation (Japan)
• Johnson Electric Holding Ltd .(Hong Kong)
• Emerson Electric (U.S)
• Bosch Group
• Hitachi Ltd.
• Oriental Motor (U.S)
• Fuji Electric Co., Ltd
• GE Grid Solutions
• NXP Semiconductors
• Motion Drivetronics PVT Ltd
• Infineon Technologies
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