A large synchronous motor (power greater than 25 MW) has a rotor that typically rotates at the same rate as the machine’s rotating field. The market for large synchronous motors has experienced rapid growth in recent years. The increased use of large synchronous motors in water treatment projects and various industries around the world is expected to fuel this growth over the upcoming years.
These motors are used in many different applications, such as compressors and blowers. Given this, the demand for water treatment facilities and other activities will expand the potential application area and spur growth in the ensuing years.
The COVID-19 outbreak and subsequent measures to contain the virus’s spread dampened demand for big synchronous motors in 2020. Nonetheless, when the industrial sector begins to revive, sales will increase up. According to the report, demand for large synchronous motors with capacities of 25 to 40 MW is expanding.
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Heavy-duty applications, on the other hand, found demand for the 40 to 80 MW capacity. Throughout the forecast period, the 25 to 40 MW category will continue to account for the majority of sales, according to the analysis.
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 for large synchronous motors.
The overall market for large synchronous motors 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 for large synchronous motors are China, India, and Europe. Markets in ASEAN countries are expected to grow moderately.
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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.
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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.
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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.
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