Switched Reluctance Motor Market to Surpass Valuation of US$ 934.7 Mn by 2031

Transparency Market Research delivers key insights on the global switched reluctance motor market. In terms of revenue, the global switched reluctance motor market is expected to expand at a CAGR of 6.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global switched reluctance motor market.

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The global switched reluctance motor market is broadly affected by several factors, including increase in adoption of electric vehicles due to rise in global warming. Thus, surge in use of switched reluctance motor for manufacturing e-vehicles is propelling the global switched reluctance motor market.

Switched Reluctance Motor Market: Dynamics

Switched reluctance motors (SRM) is a category of variable reluctance motors, which are robust and simple in construction. The rotor of the SRM is made of laminated steel with no windings or permanent magnets on it. This lowers the inertia of the rotor, which helps achieve higher acceleration.

The robust nature of SRM makes is suitable for use in high-speed applications. An SRM also offers high power density, which is among the required characteristics of electric vehicles. Since the heat generated is mostly confined to the stator, it is easier to cool the motor.

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Low starting current, quick acceleration, and extremely efficient direct drive associated with the switched reluctance motor make it ideal for electric vehicles, as it minimizes the load on the battery and extends the driving range from a single battery charge.

Thus, Electric Vehicles (EV) and Hybrid Electric Vehicles (HEV) are anticipated to offer lucrative opportunities to the switched reluctance motor market in the near future.

Switched Reluctance Motor Market: Prominent Regions

North America is expected to account for a prominent share of the global switched reluctance motor market during the forecast period, owing to the presence of key market players, technological advancements, and increased focus on clean energy in the region. The switched reluctance motor market in Europe is projected to expand at a rapid pace during the forecast period. The switched reluctance motor market in Europe is likely to expand at a notable CAGR of 6.7% during the forecast period, owing to the presence of a significant number of players manufacturing switched reluctance motors in the region.

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Switched Reluctance Motor Market: Key Players

Key players operating in the global switched reluctance motor market are MACCON Gmbh & Co. Kg, Turntide, NIDEC Corporation, Advanced Electric Machines (AEM), Regal Beloit Corporation, Shandong Kehui Power Automation Co., Ltd, Punch Powertrain NV, AMETEK Inc., Chara, and Enedym.

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