In 2031, the global big synchronous motor market is expected to be worth US$ 222 million. Future Market Insights (FMI) forecasts a stable long-term growth outlook for the market in its research. The global large synchronous motor market is expected to develop at a moderate CAGR from 2021 to 2031, according to the analysis. The paper examines 20+ high-growing areas, offering specific information on how the growth of Large Synchronous Motors will change over the next decade.
Demand for large synchronous motors waned in 2020 due to the COVID-19 outbreak and restrictions that followed to contain the spread of the virus. Nonetheless, sales will pick as the manufacturing sector begins recovery. According to the report, the 25 to 40 MW large synchronous motors registered increasing demand. The 40 to 80 MW capacity on the other hand found demand in heavy duty applications. According to the report, the 25 to 40 MW category will continue accounting for maximum sales through the course of the forecast period.
Request Sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-13078
Increasing in investment in various public infrastructure projects will create lucrative opportunities for growth. For instance, the expansion of water treatment plants, especially desalination plants, will fuel the demand forlarge synchronous motors.
The overall market for large synchronous motorsis growing at a relatively slow pace post the pandemic, nonetheless, its trajectory will continue rising steadily through the course of the report’s forecast period. The three key markets forlarge synchronous motor are China, India and Europe. Markets in ASEAN countries are expected to grow moderately.
Key Takeaways
- Large synchronous motor market will exhibit 2.6% y-o-y growth in 2021, backed by increasing application across diverse sectors
- The U.S. will emerge as a lucrative market, thanks to expansion of mining activities. It will account for nearly 75% of sales in North America market in 2021
- Within the U.K. increasing focus on water treatment will continue driving growth
- Expansion of infrastructural facilities will create growth opportunities in France and Germany
- China will emerge as a highly lucrative market, thanks tocontinued investments in power generation and industrial infrastructure.
“Surge in demand for 25 to 40 MW synchronous motor in recent years is expected to provide an impetus to large synchronous motor sales. High efficiency, low fuel requirement, and high performance of large synchronous motors will continue creating growth opportunities,” says FMI analyst.
For More Details, Ask Analyst @
https://www.futuremarketinsights.com/ask-question/rep-gb-13078
Subdued Growth Likely following COVID-19 Outbreak
The COVID-19 pandemic is currently impacting the global economy at various levels and the impact is seen on large synchronous motor market as well. The Large Synchronous Motor growth is currently subdued by the COVID-19 pandemic crisis and is expected to witness a significant drop in demand till 2021.
With a number of end use industries affected in several countries, the growth of the market is challenged as well. The decelerating demand is expected to result in a significant drop in Y-O-Y growth yet FMI expects large synchronous motor to grow at a moderate CAGR through 2031.
Competitive Landscape
The market is fairly consolidated, with key 7-8 players accounting for overall market share.Some of the key players in the market are
- ABB,
- General Electric,
- WEG,
- Siemens AG,
- VEM Group, among others.
These players are likely to invest in new technologies, especially customized variants, to maintain their market share.
Related Links@
https://beyondher.mn.co/posts/23506336?utm_source=manual
https://synkretic.mn.co/posts/23506343?utm_source=manual
https://wecanchat.mn.co/posts/23506356?utm_source=manual
https://bipolarjungle.mn.co/posts/23506369?utm_source=manual
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs