Global Switched Reluctance Motors Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028

The global switched reluctance motors market is anticipated to grow at a CAGR of 6.0% during the forecast period (2022-2028). A switched reluctance motor is defined as an electric motor that runs by reluctance torque. Different than the common brushed DC motor types, power is delivered to windings in the stator rather than the rotor. Switched reluctance motors are considered suitable for high-speed applications owing to their simple and robust structure. Adding to this, the high speed switched reluctance motors are anticipated to be a promising alternative as traction motors in electric vehicles owing to their high-power density advantage. All these advantages offered by switched reluctance motors are projected to augment the growth of the global switched reluctance motors market during the forecast period.

The market growth is also attributable to the high performance offered by these motors in even harsh environments. For instance, to meet the demand for high reliability from nuclear reactors and mines, these motors are preferred owing to their excellent performance delivery. Switched reluctance motors enhance the performance of refrigeration, pumping, and HVAC, among other applications and thus, enables in cutting energy use by 20% to 50%. Another key driving factor for the market include the reduction in the wastage of energy. As these motors have relatively fewer moving parts with no rotor current in comparison to the conventional motors, they ensure the reduction in the wastage of energy in the rotor.

Some key players operating in the market include Infineon Technologies AG, MACCON GmbH & Co. KG, and Nidec Corp., among others. The market players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, new product launches and collaborations, to stay competitive in the market. For instance, in August 2021, Enedym Inc. partnered with Napino Auto & Electronics Ltd. The licensing agreement utilizes Enedym’s switched reluctance motor (SRM) technology to provide low-cost, high-quality manufacturing for two-wheel electric motorcycle and scooter OEMs.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-

• By Product Type
• By Application

• Regions covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape: Infineon Technologies AG, MACCON GmbH & Co. KG, and Nidec Corp., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

• Deviation from the pre-COVID-19 forecast
• Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Switched Reluctance Motors Market Report by Segment

By Product Type

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

By Application

• Electric Power Steering
• Fuel Pumps
• Hybrid/Electric Vehicles
• Electromechanical Brake System
• Others

Global Switched Reluctance Motors Market Report by Region

North America

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East and Africa