Switched reluctance Motors Market Anticipated 6.3% CAGR by 2033

The global switched reluctance motor market size is likely to be valued at USD 564.1 million in 2023. The increasing demand for energy-efficient and cost-effective motors driving market growth. The market is estimated to garner US$ 1039.1 million in 2033, recording a CAGR of   6.3% from 2023 to 2033.

The increasing demand for high-speed motors from different industry verticals such as automobiles and construction is expected to drive market growth.

Governments and regulatory bodies worldwide are implementing standards and policies that encourage the use of energy-efficient motors, which benefit the switched reluctance motors market.

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Increasingly stringent energy efficiency regulations and environmental concerns drive the adoption of switched reluctance motors in industries to meet sustainability goals and reduce their carbon footprint.

Key Segments Profiled in the Switched Reluctance Motors Market Survey

By Product Type:

• Single Phase
• Double Phase
• Triple Phase
• Multi-Phase

By Application:

• Electromechanical brake system
• Fuel Pump
• Electric Power Steering
• Hybrid/ Electric Vehicles
• Vacuum Blowers
• Other

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East & Africa

Competitive Landscape

The global switched reluctance motors market is fragmented with the presence of several large and medium-scale players. The leading players in the switched reluctance motors market are investing in strategic agreements in order to capture market share.

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Prominent players

• Infineon Technologies AG
• Nidec SR Drives Ltd.
• KRETZSCHMAR
• Domel, d.o.o.
• MACCON
• Renesas Electronics Corporation
• Ramco Electric Motors
• Regal Beloit Corporation
• Turnide
• Advanced Electric Machines (AEM)

Recent Developments

Regal Beloit, a leading manufacturer of electric motors and controls, has been involved in the development of switched reluctance motors for various industries. The company has focused on improving motor performance, efficiency, and reliability through advanced design techniques and optimized control algorithms. Regal Beloit offers a range of switched reluctance motors for industrial applications such as pumps, fans, and compressors.

AMETEK, a leading manufacturer of precision motion control solutions, has made advancements in the development of switched reluctance motors. The company has focused on enhancing the performance, reliability, and efficiency of SRMs for industrial automation applications. They have introduced innovative designs, improved control algorithms, and integrated motor control solutions to meet the demanding requirements of industrial automation systems.

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