Switched Reluctance Motors (SRM) Market Size, Share, Growth, and Industry Analysis, By Types (Below 100 KW, 100-500 KW, Above 500 KW), By Applications Covered (Train Drivers, General Industrial, Household Appliances, Textile Machinery), Regional Insights and Forecast to 2033

Switched Reluctance Motors (SRM) Market Size

The Switched Reluctance Motors (SRM) market was valued at USD 567.66 million in 2024 and is expected to grow to USD 586.96 million in 2025, reaching USD 766.96 million by 2033, with a projected CAGR of 3.4% during the forecast period from 2025 to 2033.

The U.S. Switched Reluctance Motors (SRM) market is witnessing growth due to the increasing adoption of energy-efficient solutions in sectors such as automotive, industrial automation, and renewable energy, driving demand for advanced motor technologies.

The Switched Reluctance Motors (SRM) market is witnessing substantial growth driven by rising demand for energy-efficient solutions across various industrial applications. As a result, the market size is expanding rapidly, with an expected growth rate of approximately 6% over the forecast period. SRMs are increasingly being used in applications ranging from automotive to industrial machinery due to their high efficiency, durability, and lower maintenance costs. The increasing preference for energy-efficient motors in diverse sectors has contributed to this growth, positioning SRMs as a key component in the global shift toward sustainable technologies.

Switched Reluctance Motors (SRM) Market Trends

The SRM market is experiencing a notable surge, particularly in industries such as electric vehicles (EVs), household appliances, and industrial automation. The adoption of SRMs in electric vehicles has become a major trend, with over 30% of the SRM market share being attributed to this segment. In addition to automotive applications, the industrial sector is increasingly leveraging SRMs for various equipment, including pumps, fans, and conveyors, contributing to about 40% of the total market share. Another significant trend is the increasing preference for multiphase SRMs, which are highly efficient and reliable in demanding applications. Geographically, the Asia-Pacific region dominates the SRM market, contributing over 45% of the market share, fueled by strong manufacturing growth and the rise of EV production in countries such as China and India.

Switched Reluctance Motors (SRM) Market Dynamics

The growth of the SRM market is primarily driven by the increasing demand for energy-efficient motor solutions, with a significant rise in demand across industries such as manufacturing, automotive, and consumer appliances. Over 35% of the market growth can be attributed to the rising need for energy-saving devices, particularly in industries seeking to reduce operational costs and environmental impact. However, the market faces challenges related to acoustic noise and torque ripple, with manufacturers dedicating significant resources to overcoming these issues. Opportunities in the market are abundant, with SRMs being adopted in renewable energy systems, automation technologies, and next-generation electric vehicles, offering significant potential for future market expansion. The demand for SRMs in these emerging applications is expected to contribute to a growth rate of approximately 6% annually, indicating a robust market outlook.

DRIVER

"Increasing Adoption in Electric Vehicles (EVs)"

One of the primary drivers of the Switched Reluctance Motors (SRM) market is the growing adoption of electric vehicles (EVs). As the demand for EVs continues to rise globally, SRMs have become a preferred choice due to their energy efficiency, low maintenance, and cost-effectiveness. The automotive sector accounts for a significant share of the SRM market, contributing over 30% of its growth. Countries like China, the U.S., and several European nations are pushing for electric vehicle adoption, incentivizing manufacturers to adopt SRMs for their cost-efficient performance in EVs. With electric vehicles set to dominate the automotive market, SRMs are becoming an essential component for meeting energy-saving and sustainability goals.

RESTRAINTS

"Acoustic Noise and Torque Ripple Issues"

Despite their benefits, Switched Reluctance Motors (SRMs) face challenges such as acoustic noise and torque ripple, which can limit their applications in noise-sensitive environments. These issues arise due to the design of SRMs, which can cause mechanical vibrations and noise during operation. In applications where noise is a critical factor, such as in residential buildings or hospitals, this limitation becomes significant. While manufacturers are working to address these concerns through technology improvements, the current challenges continue to restrain the market. Additionally, the cost of mitigating these issues often results in higher operational expenses, further hindering their widespread adoption in certain industries.

OPPORTUNITY

"Expansion in Renewable Energy Systems"

The SRM market is witnessing substantial opportunities in renewable energy systems, particularly in wind and solar power applications. With the global push for clean and sustainable energy solutions, SRMs are increasingly being used in wind turbines and solar energy systems for their efficiency, durability, and ability to perform well in harsh conditions. The growing demand for renewable energy is expected to drive more industries to adopt SRMs for their high reliability and low maintenance costs. Furthermore, advancements in SRM technology are creating new possibilities for better performance in energy generation, positioning them as key components in the green energy transition.

CHALLENGE

"High Initial Cost of Implementation"

One of the significant challenges facing the Switched Reluctance Motor (SRM) market is the high initial cost of implementation, especially compared to traditional electric motors. While SRMs offer lower long-term maintenance and energy costs, the upfront investment can be a barrier for smaller companies or sectors with limited budgets. The cost of manufacturing SRMs, including raw materials and advanced technology, can also contribute to the high price point. In industries where cost-efficiency is a priority, the higher initial investment may deter potential users, limiting the adoption of SRMs in cost-sensitive markets. Additionally, the lack of widespread infrastructure to support SRMs adds to the implementation cost.

Segmentation Analysis

The SRM market is segmented by type, with the three primary categories being below 100 kW, 100-500 kW, and above 500 kW. Each type has its distinct applications and growth potential. Motors below 100 kW are widely used in small-scale industrial machinery and household appliances, while those in the 100-500 kW range are typically used in industrial automation, pumps, and fans. Motors above 500 kW are increasingly being adopted in electric vehicles (EVs), wind energy systems, and large industrial processes. The market is also segmented by application, with key sectors including train drivers, general industrial applications, household appliances, and textile machinery. The diversity in applications helps ensure steady demand for SRMs across various industries, with each segment growing at its own pace based on specific needs.

By Type

• Below 100 KW: The below 100 kW segment of the SRM market is expected to hold a significant market share, primarily due to its widespread use in household appliances and small-scale industrial applications. Approximately 30% of the SRM market’s growth is attributed to the demand for these smaller motors, which are used in products like fans, pumps, and domestic appliances. These motors offer high efficiency and reliability, making them ideal for household and commercial use. As energy-efficient solutions become more critical in residential and commercial sectors, the demand for below 100 kW SRMs is expected to continue growing.

• 100-500 KW: Motors in the 100-500 kW range are predominantly used in industrial applications, including pumps, ventilation systems, and conveyors. This segment accounts for about 40% of the overall SRM market share. The increasing trend of automation in industries like manufacturing and logistics is driving the demand for mid-sized SRMs, as these motors offer enhanced energy efficiency and operational reliability. Industrial processes are increasingly adopting these motors for their lower energy consumption compared to traditional motors, contributing significantly to the market’s growth. The demand for 100-500 kW SRMs is expected to rise steadily due to their versatility and efficiency in industrial settings.

• Above 500 KW: The above 500 kW segment is primarily driven by the growing demand for SRMs in large-scale industrial and renewable energy applications. This segment includes the use of SRMs in electric vehicles, wind turbines, and large industrial machines. Over 20% of the SRM market’s growth comes from the demand for high-power motors in these sectors. The global push for clean and sustainable energy solutions, particularly in the electric vehicle and wind energy sectors, is expected to fuel the demand for above 500 kW SRMs. These high-power motors offer higher efficiency and lower maintenance costs, which are essential for the scaling of renewable energy systems.

By Application

• Train Drivers: The application of Switched Reluctance Motors (SRMs) in train drivers is growing due to their efficiency and durability. This segment accounts for approximately 15% of the global SRM market. The adoption of SRMs in trains provides several benefits, including high torque density and energy efficiency, which are essential for efficient train operations. As countries push toward sustainable transportation systems, the demand for SRMs in electric trains and other railway applications is expected to rise, contributing to the overall growth of the SRM market in the transportation sector.

• General Industrial: The general industrial application of SRMs is the largest segment, making up around 40% of the SRM market share. SRMs are increasingly being adopted in industries such as manufacturing, automation, and material handling. They are used in various machinery, including pumps, fans, compressors, and conveyors, owing to their efficiency and low maintenance. The drive for energy savings in industrial operations has significantly boosted the demand for SRMs, with more companies looking for reliable and cost-effective motor solutions to reduce their energy consumption and operational costs.

• Household Appliances: The household appliances segment contributes approximately 25% to the SRM market. SRMs are widely used in household devices such as washing machines, refrigerators, air conditioners, and fans due to their compact design, low maintenance needs, and energy efficiency. As consumer demand for energy-efficient appliances increases, SRMs are becoming a popular choice for manufacturers. The growing trend towards sustainable living and energy conservation in households continues to drive the adoption of SRMs in various home appliances, further expanding their market share in this application.

• Textile Machinery: The textile machinery application of SRMs accounts for about 20% of the global market share. SRMs are commonly used in spinning and weaving machines, where they provide precise control over speed and torque. Their high reliability and efficiency make them ideal for the demanding operational environments of textile manufacturing. As the textile industry moves toward automation and energy-efficient solutions, the demand for SRMs in textile machinery is expected to rise, with manufacturers increasingly adopting these motors for their lower energy consumption and maintenance requirements.

Regional Outlook

The regional outlook for the SRM market highlights substantial growth opportunities in key areas, including North America, Europe, Asia-Pacific, and the Middle East & Africa. The Asia-Pacific region is the largest market, driven by manufacturing hubs in countries like China and India, where SRMs are widely used in both industrial and automotive applications. North America and Europe are seeing steady growth, with increasing adoption in electric vehicles and renewable energy sectors. The Middle East & Africa region, though smaller, is witnessing an uptick in SRM applications in sectors like oil and gas, automotive, and industrial machinery, contributing to the global market expansion.

North America

North America represents a significant share of the SRM market, primarily driven by technological advancements in electric vehicles and renewable energy sectors. The region is home to several leading automotive manufacturers adopting SRMs for their EVs, contributing to about 20% of the global market share. Additionally, industries such as industrial automation and manufacturing are increasingly using SRMs for energy-efficient operations. The United States, in particular, is a key market for SRMs, with both commercial and industrial applications driving demand. The presence of major automotive players and technological innovations in the energy sector makes North America a pivotal region for SRM market growth.

Europe

Europe is another crucial market for Switched Reluctance Motors, particularly in the automotive and renewable energy sectors. The European Union’s push for greener technologies and a transition to electric vehicles has led to an increase in SRM adoption, particularly in countries like Germany and France. The automotive industry in Europe accounts for a significant portion of the SRM market, with nearly 15% of the global market share attributed to this region. Additionally, the growing demand for energy-efficient solutions in industrial applications contributes to the region’s growth. Europe’s regulatory focus on energy efficiency and sustainability further supports the expansion of SRM technologies.

Asia-Pacific

Asia-Pacific dominates the SRM market, contributing over 45% of the global market share. The region is home to manufacturing powerhouses like China, Japan, and India, where SRMs are widely adopted in industrial automation and electric vehicle production. China, in particular, is a major player in the SRM market, with its aggressive push toward electric vehicles, contributing to a substantial increase in demand for SRMs. The rapidly growing industrial sector, coupled with the adoption of energy-efficient technologies, has positioned Asia-Pacific as the leading region in the SRM market, driving much of the global growth.

Middle East & Africa

The Middle East & Africa region is seeing steady growth in the SRM market, primarily driven by applications in industrial machinery, oil and gas, and renewable energy sectors. The demand for SRMs in these regions is growing as industries seek more energy-efficient and cost-effective motor solutions. While the region represents a smaller portion of the global market, estimated at around 5%, it is expected to witness increased adoption of SRMs in the coming years. The increasing focus on renewable energy, particularly solar and wind, in countries like Saudi Arabia and the UAE is contributing to this growth.

List of Key Companies 

• Nidec Corporation
• AMETEK
• VS Technology
• Shandong Kehui Power Automation
• Maccon GmbH
• Rongjia Motor Co., Ltd
• Shandong Desen
• Huayang
• Heliad
• Rocky Mountain Technologies

Top companies with the highest share 

• Nidec Corporation – Approximately 25% market share.
• AMETEK – Approximately 18% market share.

Investment Analysis and Opportunities

The Switched Reluctance Motors (SRM) market offers significant investment opportunities, especially in the automotive and renewable energy sectors. Companies are increasingly investing in SRM technology due to its energy efficiency, reduced maintenance, and low operational costs. The global push towards sustainability and cleaner energy has heightened the demand for electric vehicles (EVs), where SRMs are preferred for their efficiency and long lifespan. The automotive sector alone accounts for approximately 30% of the SRM market’s growth. Additionally, industrial automation and renewable energy applications like wind turbines are driving investments in SRM technology. More than 40% of the global growth is attributed to industrial machinery and renewable energy systems. As governments and corporations push for greener solutions, the market is expected to attract continued investment in research and development. The opportunities in renewable energy, such as using SRMs in solar and wind power applications, are particularly lucrative, with growth in these sectors contributing to a significant portion of market share expansion.

New Products Development

In recent years, there has been a notable focus on the development of new SRM products aimed at overcoming current limitations like torque ripple and noise. Manufacturers have introduced next-generation SRMs designed to offer higher performance with reduced acoustic noise and improved torque density. These new designs are attracting interest from industries that previously avoided SRMs due to noise concerns. The development of advanced control systems for SRMs is also gaining traction, enabling more precise motor control and improving efficiency in applications such as electric vehicles and renewable energy systems. In 2023, a leading SRM manufacturer, Nidec Corporation, introduced a new SRM model for the automotive industry, boasting improved power-to-weight ratios and lower vibration levels, addressing key challenges in EV applications. Additionally, companies like AMETEK are investing in SRMs for use in industrial automation systems, creating smarter, more energy-efficient solutions. The push for more compact, high-performance motors has also led to product developments targeting smaller, energy-efficient motors for household appliances, representing a growing segment within the market.

Recent Developments

• Nidec Corporation launched an advanced Switched Reluctance Motor for the automotive sector in 2023, designed to improve efficiency and reduce operational costs, specifically targeting electric vehicle applications.
• AMETEK unveiled a new line of SRMs in 2023 aimed at industrial automation, providing solutions with enhanced torque control and energy-saving capabilities.
• VS Technology introduced a new SRM for renewable energy systems in 2024, optimizing efficiency for wind turbine applications and offering a significant reduction in energy consumption.
• Maccon GmbH released an upgraded version of their SRM for general industrial applications in 2023, which includes a new control system for smoother operation and enhanced durability.
• Rocky Mountain Technologies expanded their product portfolio in 2024, launching an SRM optimized for household appliances, focusing on quieter operation and higher energy efficiency for appliances like refrigerators and washing machines.

Report Coverage 

This report provides an in-depth analysis of the global Switched Reluctance Motors (SRM) market, including detailed insights on market size, share, growth potential, and industry dynamics. It covers the segmentation of SRMs by types—Below 100 KW, 100-500 KW, and Above 500 KW—across various applications such as train drivers, general industrial, household appliances, and textile machinery. The report examines regional insights into key markets such as North America, Europe, Asia-Pacific, and the Middle East & Africa, highlighting trends, growth drivers, and key market players. Furthermore, it delves into the investment analysis, opportunities, and challenges facing the SRM market, providing valuable data for manufacturers, investors, and stakeholders in the industry. Key companies profiled include Nidec Corporation, AMETEK, and others that are making notable strides in SRM technology development. The report also covers recent developments, product innovations, and future market projections, offering a comprehensive view of the SRM market's trajectory through 2033.