The global switched reluctance motors market revenue is on a robust growth trajectory, with market size expected to surge from USD 1,250 Million in 2020 to approximately USD 3,700 Million by 2035. Annual revenue gains are driven by surging adoption in automotive electrification, industrial automation, and IoT-enabled smart devices. The CAGR from 2025 to 2035 is projected at 9.6%. Large-scale investments in R&D and the proliferation of energy-efficient initiatives are crucial factors bolstering this growth. The upward revenue trend reflects expanding use cases and the market’s positive response to new technology inflections.
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By application, the automotive sector leads the switched reluctance motors market in 2025, capturing the largest share. This is attributed to the automotive industry's rapid transition towards electric mobility and the need for efficient drive motors. Industrial machinery applications follow closely, benefiting from high-performance SRMs for automation and robotics. Household appliances make up a significant portion as energy efficiency regulations drive adoption in this segment. Overall, these applications underscore the market's alignment with global electrification and energy-saving trends.
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Who are the key players in Global Switched Reluctance Motors industry?
Key players in the Global Switched Reluctance Motors market include Nidec Corporation, AMETEK Inc., ABB Ltd, MAHLE Group, and Shandong Kehui Power Automation Co., Ltd. These companies lead the industry through advanced technology, wide global presence, and consistent investment in research and development to deliver efficient motor solutions.
What is the Global Switched Reluctance Motors growth?
The Global Switched Reluctance Motors market has witnessed significant growth, driven by an increasing demand for electric vehicles and industrial automation. For instance, Nidec Corporation has reported increased sales in eco-friendly motors, contributing to the overall expansion of the switched reluctance motors sector in recent years.
Which segment accounted for the largest Global Switched Reluctance Motors share?
The automotive segment held the largest share in the Global Switched Reluctance Motors market, propelled by rising electric vehicle adoption and demand for efficient, robust motor solutions. Applications in EV powertrains and auxiliary systems contribute significantly to segmental dominance, as major OEMs adopt SRM technology for performance improvement.
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