Home > > Machinery and Equipment > > Switched Reluctance Motors Market Size Forecast & Growth Demand 2032
ID : CBI_3090 | Updated on : | Author : Amit Sati | Category : Machinery and Equipment
Switched Reluctance Motors Market Size is estimated to reach over USD 991.12 Million by 2032 from a value of USD 621.50 Million in 2024 and is projected to grow by USD 656.61 Million in 2025, growing at a CAGR of 6.0% from 2025 to 2032.
Switched Reluctance Motor (SRM) is a type of electric motor that generates torque through the principle of magnetic reluctance. Unlike traditional brushed DC motors, SRMs deliver power to windings in the stator, while the rotor consists of salient poles made of ferromagnetic material without any permanent magnets. When a stator winding is energized, the rotor's natural tendency is to align its poles with the stator poles to minimize the magnetic reluctance, resulting in rotational motion as different stator windings are sequentially energized. This operation requires an electronic control system to switch the stator windings based on the rotor's position, offering advantages in terms of simple and robust mechanical design, high efficiency at certain speeds, and fault tolerance.
Electric vehicles require high torque at low speeds for acceleration, and switched reluctance motors provide this efficiently. Their performance characteristics are well-suited for the stop-and-go traffic conditions prevalent in urban environments. Additionally, SRMs have simpler construction because their rotors don't contain permanent magnets or windings, potentially cheaper to manufacture than other motor types like Permanent Magnet Synchronous Motors (PMSMs) or induction motors. Moreover, due to the absence of expensive rare-earth magnets, the prices fluctuate significantly, which makes switched reluctance motors a more cost-stable option for EV manufacturers, thereby driving the switched reluctance motors market size.
Consequently, the rising adoption of electric vehicles (EVs) is driving the switched reluctance motors market expansion.
High torque ripples result in vibrations, jerky motion, and speed fluctuations, which are undesirable in applications requiring precise control and smooth operation, such as electric vehicles, robotics, and servo drives. Additionally, torque ripples lead to increased mechanical stress and wear on the motor and the driven system, potentially reducing the lifespan of the system.
Moreover, high noise levels restrict the use of SRMs in noise-sensitive applications, hindering their penetration into markets like passenger EVs, medical equipment, and quiet industrial environments. Therefore, as per the analysis, these combined factors are significantly hindering the switched reluctance motors market share.
The robust design, high efficiency at variable speeds, and low maintenance requirements of switched reluctance motors make them well-suited for direct-drive wind turbines, eliminating the need for gearboxes and improving reliability. Additionally, SRMs are also employed in applications in auxiliary systems within solar power plants, such as high-efficiency pumps for cooling and tracking systems requiring precise and reliable motion. Moreover, the increasing deployment of microgrids and distributed renewable energy generation necessitates efficient and reliable motor and generator technologies. SRMs' ability to operate effectively in a wide range of conditions and their fault tolerance make them suitable for these decentralized energy systems, hence boosting switched reluctance motors market demand.
Hence, based on the analysis, increasing investments in renewable energy projects is expected to create switched reluctance motors market opportunities.
Based on the product type, the market is categorized into single phase, double phase, and multiphase.
Trends in the Product Type:
Multiphase for the largest revenue share of 58.3% in 2024 and is also projected to witness the fastest CAGR.
Based on the Operating Power, the market is classified into Less than 100 KW, 100-500 KW, and Above 500 KW.
Trends in the Operating Power:
Less than 100 KW accounted for the largest revenue in 2024.
100-500 KW is predicted to register the fastest CAGR during the forecast period.
Based on the end user, the market is categorized into automotive, aerospace, manufacturing, healthcare, energy and power, and others.
Trends in the End User:
Automotive accounted for the largest revenue share in the market in 2024.
Aerospace is predicted to register the fastest CAGR during the forecast period.
The global switched reluctance motors market has been classified by region into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
North America region was valued at USD 152.93 Million in 2024. Moreover, it is projected to grow by USD 161.60 Million in 2025 and reach over USD 244.51 Million by 2032. Out of these, China accounted for the largest revenue share of 78.3% in 2024. North American market is experiencing steady growth, driven by the increasing demand for energy-efficient motor solutions, the expansion of industrial automation, and the rising adoption of electric vehicles, supported by favorable government regulations. This growth is fueled by technological advancements in motor design and control, with a focus on developing high-performance motors and integrating them with smart technologies.
Asia Pacific was valued at USD 240.09 Million in 2024. Moreover, it is projected to grow by USD 254.19 Million in 2025 and reach over USD 392.68 Million by 2032.
The increasing need for automation and robotics in manufacturing and other sectors is also contributing to the growth of the switched reluctance motors market. SRMs are finding increasing use in robotics applications, particularly in pick-and-place robots, collaborative robots (cobots), and other automated guided vehicles (AGVs). Their high torque density and precise control make them well-suited for these applications, hence boosting the market size. Moreover, the increasing initiatives by key players to promote robotics are also contributing notably to spurring market growth.
As per market analysis, Europe holds a significant switched reluctance motors market share, driven by stringent regulations and a focus on energy efficiency, with increasing adoption in industrial and automotive sectors. The Latin American market is expanding, with growth primarily driven by increasing industrialization and the adoption of more energy-efficient technologies. Further, the Middle East & Africa SRM market is emerging, with rising demand for energy-efficient solutions in developing industrial sectors and increasing investments in automation.
The global switched reluctance motors market is highly competitive, with major players providing geology and mine planning software to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the geology and mine planning software industry. Key players in the switched reluctance motors market include-
Report Attributes | Report Details |
Study Timeline | 2019-2032 |
Market Size in 2032 | USD 991.12 Million |
CAGR (2025-2032) | 6.0% |
By Product Type |
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By Operating Power |
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By End User |
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By Region |
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Key Players |
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North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage |
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The switched reluctance motors market size is estimated to reach over USD 991.12 Million by 2032 from a value of USD 621.50 Million in 2024 and is projected to grow by USD 656.61 Million in 2025, growing at a CAGR of 6.0% from 2025 to 2032.
The switched reluctance motors report includes specific segmentation details for product type, operating power, end user, and regions.
In the switched reluctance motors market, multiphase is the fastest-growing segment during the forecast period.
The key participants in the switched reluctance motors market are Nidec Corporation (Japan), Regal Rexnord Corporation (USA), Shandong Kehui Power Automation Co., Ltd. (China), Punch Powertrain NV (Belgium), Advanced Electric Machines (AEM) (UK), AMETEK Inc. (USA), MACCON Gmbh & Co. Kg (Germany), Turntide Technologies, Inc. (USA), Chara (India), Enedym Inc. (Canada), Kehui International (UK), TMEIC (Toshiba Mitsubishi-Electric Industrial Systems Corporation) (Japan), Green Advocacy Partners, LLC. (USA), and Others.