Switched Reluctance Motors Market By Type (4/2 SRM, 6/4 SRM); By Application (Automotive, Industrial Automation, Renewable Energy, Consumer Electronics); By Region, Segment Revenue Estimation, Forecast, 2024–2030

1. Introduction and Strategic Context

The Global Switched Reluctance Motors (SRM) Market is poised for substantial growth, with a projected CAGR of 10.4% , estimated to reach USD 2.6 billion by 2030, up from USD 1.3 billion in 2024 according to Strategic Market Research . Switched reluctance motors, known for their robust design and energy efficiency, are rapidly gaining traction in various industries, including automotive, manufacturing, and energy. Their capability to operate under harsh conditions and provide high torque at lower costs compared to conventional motors positions them as a strategic choice in modern applications.

 

The SRM market is being influenced by key macroeconomic forces such as advancements in electric vehicle (EV) technology, rising energy efficiency demands, and a shift toward renewable energy sources. Regulations favoring energy-efficient solutions and electric mobility are spurring growth, especially in the automotive sector, where SRMs are increasingly used in EVs due to their high torque density and compact design.

 

Stakeholders in this market include Original Equipment Manufacturers (OEMs), electric vehicle manufacturers, energy companies, and component suppliers. Additionally, regulatory bodies focused on promoting energy efficiency and reducing carbon footprints are driving adoption in various sectors, providing a boost to the SRM market.

 

2. Market Segmentation and Forecast Scope

The Switched Reluctance Motors (SRM) Market can be segmented across multiple dimensions, including by type , by application , and by region . These categories reflect the growing demand across various industries for energy-efficient, robust, and cost-effective motor solutions.

By Type

The market can be divided into two primary categories based on the construction of the motor:

• 4/2 SRM : This type is the most commonly used, offering a balance between performance and cost. It is suitable for lower-power applications, such as small household appliances and low-speed machinery.

• 6/4 SRM : Known for offering higher torque and efficiency, the 6/4 SRM is increasingly utilized in applications where high performance is required, such as electric vehicles and industrial automation.

The 6/4 SRM is expected to hold a larger market share, especially in the automotive and industrial sectors, due to its higher torque capabilities and efficiency.

By Application

The applications of SRMs span several high-growth sectors. Key segments include:

• Automotive : The increasing adoption of electric vehicles (EVs) is a primary growth driver. SRMs provide high efficiency and are gaining traction in powertrain systems for EVs.

• Industrial Automation : In manufacturing, SRMs are used for robotics, conveyors, and machine tools, due to their durability and ability to withstand harsh environments.

• Energy : SRMs are increasingly being utilized in wind turbines and other renewable energy applications due to their high torque-to-weight ratio and low maintenance needs.

In 2024, the automotive segment is expected to hold the largest share, driven by the expansion of the electric vehicle market.

By Region

The SRM market is geographically diversified, with significant demand emerging in:

• North America : High adoption of electric vehicles and strict energy efficiency regulations are driving growth in this region. The U.S. is a key market, especially in the automotive sector.

• Europe : Home to some of the leading manufacturers of electric vehicles and renewable energy solutions, Europe is witnessing increasing demand for SRMs in both automotive and energy applications.

• Asia Pacific : This region is expected to see the fastest growth, with large-scale investments in manufacturing, electric mobility, and energy sectors in countries like China and India.

The Asia Pacific region is expected to experience the highest growth rate, largely due to the rapid adoption of electric vehicles in China and India, coupled with expanding industrialization.

 

3. Market Trends and Innovation Landscape

The Switched Reluctance Motors (SRM) Market is evolving rapidly, driven by continuous advancements in motor design, control algorithms, and integration with next-generation technologies. The increasing focus on energy efficiency, cost reduction, and the demand for high-performance motors are pushing the boundaries of SRM technology.

Key Trends

• Advancements in Control Algorithms : One of the major trends shaping the SRM market is the development of advanced control algorithms. These algorithms are designed to enhance the performance, reliability, and efficiency of SRMs. Innovations such as the implementation of vector control and sensorless operation are making SRMs more efficient, while reducing the need for complex sensors, thereby lowering production costs.

• Integration with Electric Vehicles (EVs) : SRMs are gaining significant traction in the electric vehicle (EV) sector. Their inherent characteristics, such as robustness and high torque density, make them suitable for EV powertrains. This is especially true in applications where high reliability and low maintenance are critical. Automotive OEMs are increasingly adopting SRMs to reduce costs and improve the performance of electric drivetrains, contributing to the growing demand for SRMs in the automotive sector.

• Miniaturization and Lightweight Designs : As SRM technology progresses, manufacturers are focusing on miniaturization and lightweight designs to improve motor efficiency while minimizing the space required. This trend is crucial in industries such as robotics and consumer electronics, where compact and high-performance motors are essential. For example, SRMs are being used in smaller industrial robots and automated machinery, where size constraints are significant.

• Artificial Intelligence and IoT Integration : The incorporation of AI and Internet of Things (IoT) in motor control systems is another growing trend. The integration of these technologies enables predictive maintenance and better real-time performance monitoring. By gathering data on motor performance and wear, AI and IoT technologies can optimize the operation of SRMs, improve their efficiency, and prevent unexpected failures.

Innovations Driving Growth

• High Torque Density : Manufacturers are focusing on increasing the torque density of SRMs to make them even more competitive with other motor types like permanent magnet synchronous motors (PMSMs). Advances in magnetic material technology are contributing to this effort, enabling SRMs to achieve greater performance without increasing the size or weight.

• Multi-Phase SRMs : The development of multi-phase SRMs is opening up new possibilities in applications requiring smoother operation, reduced vibration, and enhanced fault tolerance. This innovation is gaining traction in industries where high reliability is crucial, such as in aerospace and robotics.

• Integration with Renewable Energy Systems : SRMs are increasingly being utilized in renewable energy applications, particularly in wind turbine generators . Their simplicity, reliability, and energy efficiency make them suitable for low-maintenance renewable energy systems, where reducing downtime is critical.

Expert Insight

The shift towards electric vehicles and renewable energy applications presents a massive opportunity for the SRM market. By improving the torque-to-weight ratio and incorporating advanced motor control techniques, SRMs are becoming a key player in industries that require high reliability and low maintenance. This trend is only expected to accelerate as more industries move towards sustainable energy solutions.

 

4. Competitive Intelligence and Benchmarking

The Switched Reluctance Motors (SRM) Market is highly competitive, with several key players leading the charge in innovation and production capabilities. These companies are differentiating themselves through technological advancements, strategic partnerships, and deep market knowledge to cater to the evolving needs of industries such as automotive, industrial automation, and energy.

Key Players

• ABB Ltd. ABB has been a major player in the SRM market for several years, focusing heavily on energy-efficient solutions. The company’s strength lies in its broad portfolio of electric motors and drive systems, with a growing emphasis on SRMs for industrial and automotive applications. ABB’s innovative control algorithms and emphasis on digitalization make it a leader in optimizing motor performance for diverse applications.

• Siemens AG Siemens is a prominent name in the electric motor space, with SRM technology being integrated into various industrial and automotive solutions. The company’s extensive experience in automation and electrification provides it with a competitive edge in adopting SRMs for high-performance applications. Siemens is actively investing in R&D to develop more compact, high-torque SRMs for the growing EV market.

• Nidec Corporation Nidec has been making significant strides in the SRM market, particularly in automotive and energy sectors. The company is known for its comprehensive motor solutions, including SRMs for high-efficiency powertrains in electric vehicles. Nidec is also at the forefront of driving innovations in motor design and control, offering highly efficient motors that meet the stringent requirements of EVs and industrial machinery.

• Magna International Magna is a key player in the automotive sector, with a focus on supplying electric vehicle manufacturers with advanced SRM-based powertrain solutions. Magna’s SRM offerings are designed to enhance EV performance by providing efficient power conversion and reducing system costs. The company’s commitment to electrification is bolstered by a focus on producing motors that are scalable, reliable, and cost-efficient.

• Bosch Rexroth Bosch Rexroth specializes in the design and manufacture of SRMs for industrial automation and renewable energy applications. The company’s strong presence in the industrial automation sector positions it to benefit from the growing demand for energy-efficient, high-performance SRMs. Bosch Rexroth's focus on smart manufacturing, including AI-driven motor control, further strengthens its competitive position in the market.

• General Electric (GE) General Electric has a solid presence in the SRM market with a focus on renewable energy solutions. The company leverages its expertise in power systems to integrate SRMs into wind turbines and other energy-generation systems. GE’s emphasis on sustainability, combined with its ability to deliver high-efficiency motors, makes it a strong competitor in the renewable energy space.

Competitive Strategy

• Innovation Focus : The key differentiator for these players lies in their focus on innovative motor control systems and efficiency improvements . Companies like Siemens and ABB are heavily investing in developing next-gen SRM solutions that integrate AI and IoT to enable predictive maintenance and optimization of motor performance in real-time.

• Strategic Partnerships : Partnerships with electric vehicle manufacturers and energy companies are proving essential for SRM companies to penetrate the rapidly growing EV and renewable energy markets. For example, Magna’s collaboration with leading EV makers allows it to integrate SRMs into cutting-edge electric powertrains, helping to secure its position in the automotive segment.

• Geographical Expansion : Companies like Nidec and Bosch Rexroth are leveraging their strongholds in Asia-Pacific and Europe , where demand for energy-efficient motors and electric mobility is surging. By focusing on expanding their production capacities and R&D in these regions, these players are positioning themselves to capitalize on the fastest-growing markets for SRMs.

Expert Insight

The competition in the SRM market is primarily driven by technological advancements in control systems and integration with renewable energy solutions. Companies that can offer both high-efficiency motors and cost-effective solutions for industries like automotive and industrial automation are well-positioned for growth. Moreover, strategic collaborations with OEMs and energy companies will play a crucial role in gaining a competitive edge.

 

5. Regional Landscape and Adoption Outlook

The Switched Reluctance Motors (SRM) Market is experiencing diverse adoption trends across regions, driven by varying levels of industrialization, electric vehicle growth, and regulatory support for energy-efficient technologies. The market dynamics differ significantly in North America, Europe, Asia-Pacific, and other regions, with some areas showing rapid growth due to supportive infrastructure and governmental policies, while others are still catching up in terms of adoption and innovation.

North America

North America remains a mature and highly competitive market for SRMs, largely driven by the strong presence of OEMs and stringent regulatory frameworks around energy efficiency. The United States and Canada have witnessed consistent growth in the adoption of electric vehicles (EVs) , which has spurred demand for SRMs in powertrain systems. Additionally, the emphasis on green energy solutions and industrial automation further supports the adoption of SRMs in sectors like manufacturing, wind energy, and robotics.

The growing demand for high-performance motors in electric vehicle applications is expected to drive SRM adoption in this region, particularly as automakers seek cost-effective, energy-efficient alternatives to conventional motors. Key players like Magna International and Nidec Corporation are well-positioned in North America, especially as the region ramps up its efforts toward achieving net-zero emissions targets.

Europe

Europe, home to some of the world’s largest automotive manufacturers and renewable energy projects, presents a strong market for SRMs. Countries such as Germany, France, and the United Kingdom have made significant investments in electric mobility and sustainable manufacturing practices. The European Union’s Green Deal and other sustainability initiatives are fueling the demand for more energy-efficient solutions, including SRMs, particularly in the automotive, industrial, and renewable energy sectors.

Europe is also home to several pioneering companies in motor technology, such as Siemens AG and Bosch Rexroth , who are leading the development of SRMs for high-efficiency applications. Furthermore, the rise of smart manufacturing and Industry 4.0 has created opportunities for SRM adoption in industrial automation and robotics, making the region a key market for advanced SRM solutions.

Asia-Pacific

Asia-Pacific is expected to be the fastest-growing region for SRM adoption, driven by the large-scale adoption of electric vehicles , the expansion of industrial manufacturing capabilities, and increasing investments in renewable energy . China and India are the standout markets in this region, where governmental policies to promote electric mobility and green manufacturing are catalyzing growth. The rising middle class in these countries is further accelerating demand for consumer electronics, industrial equipment, and automobiles—all of which rely on motors for operation.

China, in particular, is a major player in the EV market , where SRMs are becoming increasingly popular due to their cost-effectiveness and high torque capabilities . Moreover, India’s focus on energy efficiency and smart manufacturing is also driving SRM adoption in industrial automation. Local manufacturers in Asia-Pacific are benefiting from the reduced cost and increasing demand for SRMs in EV powertrains and renewable energy applications.

Latin America, Middle East & Africa (LAMEA)

The Latin American, Middle Eastern, and African regions are still in the early stages of SRM adoption, but these markets are slowly growing through investments in sustainable energy solutions and green manufacturing technologies . Countries like Brazil and Mexico in Latin America are seeing an increase in electric vehicle sales, which is expected to boost demand for SRMs in the automotive sector. In the Middle East, governments are investing heavily in renewable energy and smart city initiatives , creating new opportunities for SRM deployment in energy generation and industrial automation.

In Africa, the lack of infrastructure and industrial capabilities has limited the widespread adoption of SRMs, but there is a growing push for affordable and sustainable motor solutions in the manufacturing and energy sectors. Public-private partnerships and NGO-led initiatives are helping bridge the gap in underserved regions, paving the way for SRMs to play a larger role in industrial development and energy efficiency.

Key Regional Insights

• North America and Europe are expected to dominate the market due to their robust industrial sectors, regulatory focus on energy efficiency, and mature electric vehicle markets.

• Asia-Pacific will lead in growth, with China and India at the forefront of SRM adoption due to their large automotive and manufacturing industries, supported by government policies promoting energy-efficient technologies.

• Latin America and Africa show potential, particularly in renewable energy and industrial automation applications, though infrastructure challenges need to be addressed for widespread adoption.

 

6. End-User Dynamics and Use Case

The Switched Reluctance Motors (SRM) Market spans a variety of end-user applications, from automotive and industrial automation to renewable energy and consumer electronics. Each sector brings unique requirements and benefits to SRM adoption, with different players seeking performance, energy efficiency, and cost-effectiveness tailored to their specific needs. Understanding the end-user dynamics is crucial for market stakeholders to align their strategies and innovations accordingly.

Key End Users

• Automotive Industry The automotive sector is one of the most significant end-users of SRMs, especially in the context of electric vehicles (EVs) . As automakers transition to electric powertrains, SRMs are increasingly being used due to their high torque density , reliability , and cost-effectiveness compared to traditional motors. SRMs are particularly advantageous in low-speed and high-torque applications, which are crucial for EVs, especially in traction motors. Manufacturers like Nidec and Magna International are providing SRMs for EV powertrains , and as the EV market grows, the adoption of SRMs is expected to expand substantially.

• Industrial Automation Industrial automation is another major application area for SRMs, driven by their energy efficiency and low-maintenance requirements . SRMs are increasingly used in various automation systems such as robotics , conveyors , pumps , and fans . Their ability to operate effectively in harsh environments with minimal upkeep makes them ideal for factory settings. The adoption of smart manufacturing and Industry 4.0 is expected to further boost SRM demand, as industries look for motors that provide high performance while reducing operational costs.

• Renewable Energy The renewable energy sector, particularly wind energy , is also witnessing growing adoption of SRMs. Wind turbine generators , in particular, are increasingly using SRMs due to their efficiency and reliability in low-speed operations. SRMs are also used in solar power and energy storage systems , where low maintenance and high durability are paramount. As the global push for green energy continues to intensify, the adoption of SRMs in these applications is expected to rise.

• Consumer Electronics While the consumer electronics sector is not as large as automotive or industrial automation in terms of volume, it is still a significant area of growth for SRMs. The need for compact, energy-efficient motors in devices like small home appliances , personal care products , and robot vacuums is driving the demand for SRMs. Their ability to deliver high torque in smaller sizes makes them ideal for applications where space and energy efficiency are critical.

Use Case Highlight: Electric Vehicle Integration

A prominent electric vehicle (EV) manufacturer in Europe decided to integrate SRMs in its next-generation powertrains for urban electric vehicles. These vehicles required a motor that could deliver high torque at low speeds while maintaining energy efficiency and reducing costs. The company collaborated with Magna International to design a custom SRM for its EV platforms , focusing on reducing weight and improving power density . The result was a highly efficient system that lowered manufacturing costs and increased vehicle performance.

This use case highlights the strategic value of SRMs in the automotive sector , especially in the transition to electric mobility. The low-cost and high-torque characteristics of SRMs, when paired with advanced control algorithms , made them an ideal choice for this application, allowing the manufacturer to achieve both cost reduction and performance enhancement. The integration also provided a longer vehicle range due to improved motor efficiency, which is a crucial factor for EV adoption.

End-User Needs and Considerations

• Cost Efficiency : SRMs are highly valued in industries like automotive and consumer electronics for their cost-effective operation, offering a low total cost of ownership compared to traditional motors.

• Energy Efficiency : Energy savings and reduced power consumption are a significant factor in sectors like industrial automation and renewable energy, where SRMs help lower operational costs and increase system reliability.

• Durability and Low Maintenance : The rugged construction and simplicity of SRMs make them highly appealing in harsh operating environments, particularly in manufacturing, energy, and automotive sectors.

Expert Insight

End-user adoption of SRMs is largely influenced by the evolving demands for energy efficiency, performance, and cost-effectiveness across industries. In the automotive sector, SRMs have already made significant strides in EV applications, and the ongoing push for electrification will only accelerate their use. Industrial automation and renewable energy sectors are also key drivers, with SRMs offering unparalleled durability and efficiency in tough operational conditions.

 

7. Recent Developments + Opportunities & Restraints

The Switched Reluctance Motors (SRM) Market has seen significant developments in recent years, driven by advancements in motor technology, growing adoption in electric vehicles, and the increasing push for energy efficiency. Below, we explore some of the major recent developments in the market, followed by emerging opportunities and potential restraints that could shape its growth.

Recent Developments (Last 2 Years)

• Development of Advanced Control Systems In 2024, Nidec Corporation unveiled a new generation of SRMs designed with advanced control algorithms that optimize motor performance in electric vehicle powertrains. These innovations enable the motors to operate more efficiently at higher torque densities, enhancing the performance of electric vehicles while reducing energy consumption. This development is expected to significantly impact the adoption of SRMs in the automotive sector.

• Strategic Partnerships in EV Sector Magna International partnered with a leading European automotive manufacturer in late 2023 to develop SRM-based powertrains for a new series of compact urban electric vehicles. The collaboration focuses on leveraging SRM’s cost-effectiveness and high torque capabilities to offer a more affordable electric vehicle option. This partnership is a prime example of how SRMs are being integrated into high-growth segments like electric mobility.

• Increased Investment in Renewable Energy Siemens AG launched a next-generation SRM solution for wind turbine generators in 2024, specifically designed to increase energy output in low-wind conditions. The system’s low maintenance requirements and high durability make it a game-changer for wind energy applications, particularly in remote and offshore installations where operational efficiency is critical. This technology is set to drive further adoption of SRMs in renewable energy systems.

• Launch of Compact SRM for Consumer Electronics In 2023, Bosch Rexroth introduced a new compact SRM specifically designed for use in robotic vacuum cleaners and personal care products . The motor offers superior energy efficiency, smaller size, and reduced noise levels, meeting the growing demand for energy-efficient motors in the consumer electronics sector. This launch underscores the increasing use of SRMs in applications beyond industrial and automotive sectors.

 

Opportunities

• Emerging Markets and Electric Vehicles As the adoption of electric vehicles expands globally, especially in Asia-Pacific and Latin America , there is a significant opportunity for SRM manufacturers to tap into these rapidly growing markets. Governments' push for green energy solutions, paired with the rising demand for affordable and efficient EVs, positions SRMs as a viable solution for automakers. Manufacturers who can scale production and provide affordable, efficient SRMs for the EV sector are well-positioned for success.

• Industrial Automation and Robotics The increasing adoption of smart manufacturing and robotics presents a substantial opportunity for SRMs. These motors are particularly suited for high-performance industrial applications, where durability, energy efficiency, and low maintenance are critical. As industries move towards more automated and energy-efficient systems, SRMs will continue to play a central role, driving their demand in industrial automation systems.

• Renewable Energy Expansion With the global focus on achieving net-zero emissions and adopting green energy solutions , SRMs present a unique opportunity for use in renewable energy applications, such as wind turbine generators and solar energy storage systems . Their durability and efficiency make them ideal for low-maintenance renewable energy solutions, and as renewable energy infrastructure continues to expand, so too will the demand for SRMs.

 

Restraints

• High Initial Investment Costs One of the key restraints to widespread SRM adoption is the high upfront investment required for manufacturing and deploying SRMs. While these motors offer long-term energy savings and low maintenance, their initial costs can be a barrier for small and medium-sized enterprises (SMEs) or manufacturers in developing regions. Overcoming this cost hurdle is essential for mass adoption, especially in cost-sensitive markets.

• Skilled Workforce Gap The adoption of SRMs in advanced applications like electric vehicles and industrial automation requires specialized knowledge and skills, particularly in areas like motor design, control systems, and integration. However, there is a shortage of skilled technicians and engineers who are well-versed in SRM technology. This skills gap could slow down the pace of SRM adoption in some industries, particularly in regions with limited access to specialized training programs.

 

Expert Insight

The future growth of the SRM market lies in overcoming the initial investment and workforce challenges. However, the significant opportunities presented by the global shift toward electric vehicles, industrial automation, and renewable energy are expected to propel SRM adoption in the coming years. Companies that can innovate to reduce production costs and expand training programs will be well-positioned to capitalize on these trends.

 

 

7.1. Report Coverage Table

Here is the detailed coverage for the Switched Reluctance Motors (SRM) Market report:

Report Attribute	Details
Forecast Period	2024 – 2030
Market Size Value in 2024	USD 1.3 Billion
Revenue Forecast in 2030	USD 2.6 Billion
Overall Growth Rate	CAGR of 10.4% (2024 – 2030)
Base Year for Estimation	2024
Historical Data	2019 – 2023
Unit	USD Million, CAGR (2024 – 2030)
Segmentation	By Type, By Application, By Region
By Type	4/2 SRM, 6/4 SRM
By Application	Automotive, Industrial Automation, Renewable Energy, Consumer Electronics
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Country Scope	United States, Germany, China, India, Japan, Brazil, etc.
Market Drivers	Growing demand for EVs, industrial automation, and renewable energy
Customization Option	Available upon request