The global large synchronous motor market is anticipated at US$ 6.5 billion in 2022. The sector is gaining pace as companies provide technologically improved large synchronous motors with high-power and high-speed compressors. The market is estimated to garner US$ 11.4 billion in 2033, recording a CAGR of 5.5% from 2023 to 2033. The market is likely to secure US$ 6.7 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Large Synchronous Motor Market Size Value in 2023 | US$ 6.7 billion |
| Large Synchronous Motor Market Forecast Value in 2033 | US$ 11.4 billion |
| Global Growth Rate | 5.5% |
| Forecast Period | 2023 to 2033 |
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| Historical CAGR (2018 to 2022) | 4.3% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 5.5% |
The large synchronous motor market has witnessed substantial growth in recent years. The growth is projected to continue over the next few years owing to the increasing use of synchronous motors in water treatment projects and various industries across the globe.
These motors are used in various applications including compressors, lowers, and others. Considering this the need for a water treatment plant and other activities will create scope for application encouraging growth in coming years. Technological advances in manufacturing drive the demand for large synchronous motors globally.
The market is likely to gain significantly from the upcoming projects in mining, power generation, and other industries. Demand for high-capacity power plants, desalination plants, and other industrial plants will fuel the demand for large synchronous motors.
Some of the leading large synchronous motor manufacturers have already started the customization of motors in the market. According to Future Market Insights, the global market value is estimated to reach US$ 11.4 billion by 2033.
Increased Application in Oil & Gas Industry to Drive the Market Growth
The market is expected to witness significant growth during the forecast period owing to the high demand for low energy consumption is met by a large synchronous motor. The large synchronous motor has high precision at a constant speed. Thus large synchronous motors are widely used in the industrial sector.
The exponential boost in demand for highly efficient machine control motors is the key factor encouraging the market growth for large synchronous motors globally. The large synchronous motors are used in various industries for different applications like mining, and water treatment, separation unit & other.
Increasing research & development activities by manufacturers boost the market sales
The leading manufacturers are investing in research & development activities involving large synchronous motors, especially on the size of the large synchronous motors segment. Competitive price offerings, increased end-user satisfaction, and the use of advanced technologies are the result of research development activities.
The increasing demand for energy-efficient and low-power consumption systems across various industry verticals has significantly driven the need for the invention of new models. Technological innovation & entry of new innovative designs have paved the way for different large synchronous motors with high power density & swift acceleration.
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High Installation Cost May Impede the Sales of Large Synchronous Motors Market
Various regulations and government policies imposed on industries are expected to impact the production, installation, and usage of large synchronous motors.
The maintenance of large synchronous motors is one of the challenges faced by industries. The Complex installation process and high cost may also hinder the market growth during the forecast period.
The Growing Mining Industry in The Region Drives the Growth of the Large Synchronous Motor Market in the United States
The global large source synchronous market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 5.2% over the forecast period.
The United States is home to a thriving mining industry, which presents a conducive environment for the sales of large synchronous motors. Besides this, the consistently rising investment in wastewater treatment projects will continue to support the expansion of the market.
Increasing Construction Activities in The Country Boosts the Market Growth
FMI has projected China to remain one of the most lucrative markets throughout the forecast period. The market is anticipated to expand at a CAGR of 5.4% over the forecast period.
The large synchronous motor market growth in China has attracted several manufacturers in the past few years. One of the key factors supporting the growth is the increasing application of construction projects undertaken in the country.
The country is now seen as the leading market for large synchronous motors. The shift from old technologies and rapid advancement in countries’ construction sectors are creating attractive opportunities in China. Driven by these factors China remains one of the largest markets for large synchronous markets in the world, which invariably makes it a lucrative pocket for manufacturers.
Increased Demand for Water Treatment to Drive the Growth of the Market
FMI has projected India to remain one of the most lucrative markets throughout the course of the forecast period. One of the key factors supporting growth is increasing investment by the government in water treatment plants. For instance, the government in India launched a project name Kaleshwaram Lift Irrigation Project (KLIP).
The increasing population in the country means more projects would be needed in the future and it is bound to fuel the demand for large synchronous motors. Also, India is attracting a lot of global brands. Driven by these factors India remains one of the largest markets for large synchronous motor players.
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25 to 40 MW Segment Remain Prominent During the Forecast Period
Based on rated power the large synchronous motor market is segmented into
The 25 to 40 MW rated power segment is expected to account for the leading share throughout the forecast period. According to FMI, the segment is expected to hold around 34% of the market in terms of rated power by the end of 2033.
25 to 40 MW large synchronous motor remains preferred by end-user. Owing to the more number of products & applications in the range of 25 to 40 MW segments, consumers continue to have wider flexibility in this segment.
Compressor Segment to Remain Prominent among others
Based on application the large synchronous motor market is segmented into compressors, pumps, fans extruders, mixers, and conveyor belts. The compressor segment is expected to account for 42.5% of the total share of the global large synchronous motor market.
The compressor segment holds a higher market share due to its use in all applications. Increasing demand for the compressor in LNG liquefaction will therefore continue supporting growth. On the other hand, the conveyor belts segment is expected to account for a market share of 40.3% over the forecast period.
New players in the large synchronous motor market such as among others are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base.
Prominent players in the large synchronous motors market are ABB, General Electric, WEG, Siemens AG, VEM Group, and Hyundai Electric & Energy System Co Ltd, among others. Leading players operating in the global large synchronous motor market are focusing on intensive research and development for launching innovative products and services in the market.
Product innovation is the key strategy adopted by market players. Brand consciousness and aggressive marketing by top players however make it challenging for new entrants in this market. The market players are also emphasizing offering large synchronous motors with high reliability and high performance. The market is benefiting from partnerships with a high focus on innovation.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.5% from 2023 to2033 |
| Market Value in 2022 | US$ 6.7 billion |
| Market Value in 2032 | US$ 11.4 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
|
| Key Companies Profiled |
|
| Customization & Pricing | Available upon Request |
The market could progress at 5.5% CAGR through 2033.
General Electric, Toshiba, and Hyundai are the top players in the market.
China is an emerging country with a growth rate of 5.4% until 2033.
The 25 to 40 MW rated power segment could generate 34% of the global revenue by 2033.
Compressor segment is estimated to have 42.5% of the overall market sales.
1. Executive Summary | Large Synchronous Motor Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Rated Power
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Rated Power, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Rated Power, 2023 to 2033
5.3.1. 25 to 40 MW
5.3.2. 40 to 60 MW
5.3.3. 60 to 80 MW
5.4. Y-o-Y Growth Trend Analysis By Rated Power, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Rated Power, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
6.3.1. Compressors
6.3.2. Pumps
6.3.3. Fans
6.3.4. Extruders
6.3.5. Mixers
6.3.6. Conveyor Belts
6.3.7. Others
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-User, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-User, 2023 to 2033
7.3.1. Oil & Gas
7.3.2. Metal & Mining
7.3.3. Paper & Pulp
7.3.4. Chemicals & Petrochemicals
7.3.5. Automotive
7.3.6. Others
7.4. Y-o-Y Growth Trend Analysis By End-User, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By End-User, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. The USA
9.2.1.2. Canada
9.2.2. By Rated Power
9.2.3. By Application
9.2.4. By End-User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Rated Power
9.3.3. By Application
9.3.4. By End-User
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Rated Power
10.2.3. By Application
10.2.4. By End-User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Rated Power
10.3.3. By Application
10.3.4. By End-User
10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United Kingdom
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Rated Power
11.2.3. By Application
11.2.4. By End-User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Rated Power
11.3.3. By Application
11.3.4. By End-User
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Singapore
12.2.1.5. Thailand
12.2.1.6. Indonesia
12.2.1.7. Australia
12.2.1.8. New Zealand
12.2.1.9. Rest of Asia Pacific
12.2.2. By Rated Power
12.2.3. By Application
12.2.4. By End-User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Rated Power
12.3.3. By Application
12.3.4. By End-User
12.4. Key Takeaways
13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of MEA
13.2.2. By Rated Power
13.2.3. By Application
13.2.4. By End-User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Rated Power
13.3.3. By Application
13.3.4. By End-User
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2022
14.1.2.1. By Rated Power
14.1.2.2. By Application
14.1.2.3. By End-User
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2022
14.2.2.1. By Rated Power
14.2.2.2. By Application
14.2.2.3. By End-User
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2022
14.3.2.1. By Rated Power
14.3.2.2. By Application
14.3.2.3. By End-User
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2022
14.4.2.1. By Rated Power
14.4.2.2. By Application
14.4.2.3. By End-User
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2022
14.5.2.1. By Rated Power
14.5.2.2. By Application
14.5.2.3. By End-User
14.6. United Kingdom
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2022
14.6.2.1. By Rated Power
14.6.2.2. By Application
14.6.2.3. By End-User
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2022
14.7.2.1. By Rated Power
14.7.2.2. By Application
14.7.2.3. By End-User
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2022
14.8.2.1. By Rated Power
14.8.2.2. By Application
14.8.2.3. By End-User
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2022
14.9.2.1. By Rated Power
14.9.2.2. By Application
14.9.2.3. By End-User
14.10. China
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2022
14.10.2.1. By Rated Power
14.10.2.2. By Application
14.10.2.3. By End-User
14.11. Japan
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2022
14.11.2.1. By Rated Power
14.11.2.2. By Application
14.11.2.3. By End-User
14.12. South Korea
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2022
14.12.2.1. By Rated Power
14.12.2.2. By Application
14.12.2.3. By End-User
14.13. Singapore
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2022
14.13.2.1. By Rated Power
14.13.2.2. By Application
14.13.2.3. By End-User
14.14. Thailand
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2022
14.14.2.1. By Rated Power
14.14.2.2. By Application
14.14.2.3. By End-User
14.15. Indonesia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2022
14.15.2.1. By Rated Power
14.15.2.2. By Application
14.15.2.3. By End-User
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2022
14.16.2.1. By Rated Power
14.16.2.2. By Application
14.16.2.3. By End-User
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2022
14.17.2.1. By Rated Power
14.17.2.2. By Application
14.17.2.3. By End-User
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2022
14.18.2.1. By Rated Power
14.18.2.2. By Application
14.18.2.3. By End-User
14.19. South Africa
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2022
14.19.2.1. By Rated Power
14.19.2.2. By Application
14.19.2.3. By End-User
14.20. Israel
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2022
14.20.2.1. By Rated Power
14.20.2.2. By Application
14.20.2.3. By End-User
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Rated Power
15.3.3. By Application
15.3.4. By End-User
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. ABB
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. General Electric
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Toshiba Mitsubishi-Electric Industrial Systems Corporation
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Hyundai Electric & Energy Systems Co., Ltd
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. Toshibha Corporation
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Siemens AG
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. VEM Group
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Rockwell Automation
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Emerson Electric
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Ndec Corporation
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Large Synchronous Motor Market
