Global Synchronous Electric Motors Market - Forecasts, Segments, and Opportunity Assessment by Technavio

Technavio has published a new report on the global synchronous electric motors market from 2017-2021. (Graphic: Business Wire)

LONDON--()--According to the latest market study released by Technavio, the global synchronous electric motors market is expected to grow at a CAGR of more than 4% during the forecast period.

This research report titled ‘Global Synchronous Electric Motors Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The market size of synchronous electric motors is likely to increase due to the growing markets in Asia, the Middle East, and Latin America. These regions are expected to offer incredible potential for the growth of industrial machinery, which, in turn, will have a positive impact on the market for synchronous electric motors. Vendors need to constantly establish their presence globally in new markets with their range of products while consolidating the existing market share.

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Technavio’s heavy industry research analysts categorize the global synchronous electric motors market into the following segments by end-user. They are:

  • Oil and gas industry
  • Chemicals and petrochemicals industry
  • Metals and mining industry
  • Power generation industry
  • Others

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The top three end-user segments for the global synchronous electric motors market are discussed below:

Oil and gas industry

The demand for synchronous electric motors is growing because of their applications in the gas-oil separation plants, centrifugal pumps, and compressors. The exploration of new oil and gas fields and refinery units is expected to drive the market for the oil and gas industry. The demand for synchronous electric motors in the oil and gas industry will increase expansions in offshore and onshore production activities.

According to Raghav Bharadwaj Shivaswamy, a lead tools and components research analyst from Technavio, “Operations in oil and gas plants have demanded synchronous electric motors for precise speed and process control along with a solution that can exhibit superior performance in extremely critical conditions. It becomes highly significant that synchronous electric motors can provide a high degree of precision with a new optical encoder system.”

Chemicals and petrochemicals

The chemical and petrochemical industry plays a vital role in global economic development, as most developing countries are focusing on increasing the implementation of low electricity consumption machines like synchronous electric motors. Therefore, the growth of the industry is principally dependent on the increase in end-user applications. The development actions in the chemical and petrochemical industry are expected to grow steadily compared with previous years.

“The development of future projects in the developing nations, such as India, Indonesia, the Middle East, and Latin American countries like Brazil, will bolster the growth of the market. Among the leading nations, China and the US account for more new projects for plant installation, expansion, and deployment of new machines in the chemical and petrochemical production and processing companies,” adds Raghav.

Metals and mining industry

The global synchronous electric motors market is gaining more importance from the metals and mining industry, as these motors are extensively applied for continuous synchronization operations in the mines and material processing industries. The requirement for enhancement in efficiency of rotor and stator is associated with minimum vibration and increase in efficiency where synchronous electric motors accompany to increase the productivity.

The adoption of rolling mills, hoists, processing lines, crushers, ball mills, grinders, and blowers with heavy-duty synchronous electric motors will create a rise in demand for operations in the market. Synchronous electric motors help to provide more power with resistance and can produce reactive power and improve the stability of the power system.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • ABB
  • Baumüller
  • Bosch Rexroth
  • Emerson Electric
  • Siemens

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the study released by Technavio, the global synchronous electric motors market is expected to grow at a CAGR of over 4% until 2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com