Switched Reluctance Motors (SRM) Market Size

Switched Reluctance Motors (SRM) Market Overview

The Switched Reluctance Motors (SRM) Market size was valued at USD 586.97 million in 2024 and is expected to reach USD 797.54 million by 2033, growing at a CAGR of 3.4% from 2025 to 2033.

The Switched Reluctance Motors (SRM) market is experiencing significant growth, driven by increasing demand across various sectors such as automotive, industrial automation, and renewable energy. SRMs are gaining popularity due to their simple and robust construction, high efficiency, and cost-effectiveness. Unlike traditional motors, SRMs do not require permanent magnets, making them more sustainable and less dependent on rare-earth materials.

Key Findings

Top Driver Reason: The rising adoption of electric vehicles (EVs) is a primary driver for the SRM market. SRMs offer high torque at low speeds, making them ideal for EV applications.

Top Country/Region: Asia-Pacific, particularly China and India, is leading the SRM market due to rapid industrialization and increasing EV adoption.

Top Segment: The automotive sector is the largest segment, utilizing SRMs for various applications, including EVs and hybrid vehicles.

Switched Reluctance Motors (SRM) Market Trends

The SRM market is witnessing several notable trends. Continuous improvements in control algorithms and power electronics are enhancing SRM performance, reducing torque ripple, and minimizing acoustic noise. Manufacturers are investing in research and development to innovate and improve SRM designs, focusing on higher efficiency and performance. Integration in Renewable Energy Systems: SRMs are being integrated into renewable energy applications, such as wind turbines and solar tracking systems, due to their reliability and efficiency.

Switched Reluctance Motors (SRM) Market Dynamics

DRIVER

Rising demand for electric vehicles (EVs)

The global shift towards sustainable transportation is propelling the demand for EVs. SRMs, with their high efficiency and cost-effectiveness, are becoming a preferred choice for EV manufacturers. Their ability to deliver high torque at low speeds aligns well with the requirements of EV applications.

RESTRAINT

Torque ripple and acoustic noise

One of the main challenges in SRM adoption is the presence of torque ripple and acoustic noise, which can affect performance and user comfort. These issues are particularly significant in applications requiring smooth and quiet operation, such as passenger vehicles and household appliances.

OPPORTUNITY

Growth in renewable energy projects

The expansion of renewable energy projects presents significant opportunities for SRMs. Their robust design and high efficiency make them suitable for applications in wind turbines and solar power systems, where reliability and low maintenance are crucial.

CHALLENGE

Competition from alternative motor technologies

SRMs face competition from other motor technologies, such as permanent magnet synchronous motors (PMSMs) and induction motors, which are well-established in various applications. Overcoming this challenge requires continuous innovation and demonstration of SRMs' advantages in specific use cases.

Switched Reluctance Motors (SRM) Market Segmentation

By Type

Train Drivers: SRMs are utilized in train propulsion systems due to their high torque capabilities and reliability. Their simple construction and robustness make them suitable for the demanding requirements of railway applications.
General Industrial: In industrial settings, SRMs are employed in various machinery and equipment, benefiting from their durability and efficiency. They are particularly useful in applications where maintenance access is limited.
Household Appliances: SRMs are increasingly used in household appliances like washing machines and vacuum cleaners, offering energy efficiency and long service life. Their ability to operate without permanent magnets reduces costs and environmental impact.
Textile Machinery: The textile industry benefits from SRMs in spinning and weaving machines, where precise control and high-speed operation are essential. SRMs' performance characteristics align well with these requirements.
Other: SRMs find applications in various other sectors, including robotics and aerospace, where their unique advantages are leveraged for specific needs.

By Application

Below 100 KW: This segment includes applications in household appliances and small industrial equipment, where SRMs' efficiency and cost-effectiveness are advantageous.
100-500 KW: SRMs in this power range are used in medium-sized industrial machinery and electric vehicles, offering a balance between performance and efficiency.
Above 500 KW: High-power SRMs are employed in heavy industrial applications and large transportation systems, where their robustness and high torque capabilities are critical.

Switched Reluctance Motors (SRM) Market Regional Outlook

North America

The SRM market in North America is growing, driven by advancements in industrial automation and increasing EV adoption. The region's focus on energy efficiency and sustainability supports this growth.

Europe

Europe's stringent environmental regulations and commitment to renewable energy are propelling the SRM market. The automotive industry's shift towards electrification further boosts demand.

Asia-Pacific

The Asia-Pacific region dominates the global SRM market due to its rapid industrialization, strong presence of manufacturing hubs, and the world’s largest EV consumer base. China leads in electric vehicle production, accounting for over 60% of global EV sales in 2023. In India, the government's strong push for electrification in public transport has led to a surge in demand for SRMs in e-buses and rail systems. Japan and South Korea are also investing heavily in R&D for advanced motor technologies, positioning the region as a center for SRM innovation. The presence of key automotive and industrial machinery manufacturers further strengthens market growth in this region.

Middle East & Africa

The SRM market in the Middle East & Africa is steadily expanding, primarily driven by increased infrastructure development and energy diversification initiatives. The UAE and Saudi Arabia are investing in smart cities and sustainable transport, where SRMs are preferred due to their low maintenance and high reliability. In Africa, demand is gradually increasing in the mining and utilities sectors, where SRMs are used in heavy-duty equipment. South Africa is witnessing a rise in local motor manufacturing and electrification in industries, which is contributing to the region's growing SRM adoption. However, market penetration remains limited compared to other regions.

List of Top Switched Reluctance Motors (SRM) Market Companies

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

Top Two Companies with Highest Market Shares

Nidec Corporation: Nidec Corporation holds a significant share of the global SRM market. The company offers a diverse portfolio of motors with high energy efficiency for applications in automotive, industrial, and consumer electronics. In 2023, Nidec produced over 500,000 SRM units for the automotive industry alone and expanded production capacity in Vietnam and India.
AMETEK: AMETEK is a major player in the SRM market, supplying motors to a wide range of sectors including medical devices, aerospace, and industrial automation. In 2024, AMETEK announced a new product line of compact SRMs designed for robotics, with torque outputs up to 250 Nm. The company also reported a 12% increase in SRM shipments compared to the previous year.

Investment Analysis and Opportunities

The Switched Reluctance Motors (SRM) market is experiencing a surge in investments due to the global push toward electrification and sustainability. In 2023 alone, over USD 900 million was invested globally in SRM research and manufacturing infrastructure. Companies are focusing on setting up advanced production lines with automation and digital quality control to meet growing demand and improve cost-efficiency. Asia-Pacific leads in manufacturing investments, with China investing more than USD 400 million in SRM-based EV components. In India, startups such as eMotion Motors and Olectra Greentech have raised over USD 50 million combined to develop SRM-driven EV platforms. Japan’s government, through METI, launched a funding initiative to support SRM innovation in industrial robotics. In North America, multiple state-level subsidies and tax rebates are being offered for the adoption of SRM-powered machinery in manufacturing and transportation. U.S.-based companies like SR Drives Inc. and Turntide Technologies are working on expanding the application of SRMs in HVAC and commercial fleets, respectively. Turntide recently secured USD 80 million in funding for scaling their intelligent motor systems using switched reluctance technology. Europe is witnessing institutional investments in SRM applications for wind turbines, backed by climate and green energy transition funds. In 2023, Germany’s Fraunhofer Institute initiated a collaborative project involving SRM integration in large-scale energy storage systems. The project is expected to complete prototyping by mid-2025. Emerging markets such as Brazil and UAE are focusing on partnerships with global motor manufacturers to localize production. These joint ventures open new investment channels and promise long-term gains due to the expanding industrial automation and smart transport landscape in these regions. The opportunity landscape is also expanding with technological breakthroughs, such as the use of AI for optimizing SRM drive control. This is creating new revenue streams for software companies and embedded system developers. Additionally, the reduced reliance on rare earth materials in SRMs is attracting ESG (Environmental, Social, and Governance)-focused investors and funds prioritizing sustainable technologies.

New Product Development

The Switched Reluctance Motors (SRM) market is undergoing a wave of innovation aimed at overcoming traditional limitations such as torque ripple and acoustic noise, while enhancing performance and usability. In 2023, several manufacturers unveiled next-generation SRMs equipped with advanced control algorithms and smart feedback systems. Nidec launched its new ""SRMAX"" series designed specifically for electric two-wheelers. These motors feature a high torque density of 4.5 Nm/kg and operate with over 92% efficiency. The design eliminates the need for sensor-based feedback, using AI-enhanced adaptive control instead. The SRMAX line is expected to be mass-produced by early 2025. AMETEK introduced a modular SRM unit for HVAC and home appliance applications. With a compact design and low energy consumption (reduction of 15% compared to legacy units), this motor offers high-speed operation at up to 18,000 RPM. Its improved electromagnetic shielding reduces electromagnetic interference (EMI) by 22%, supporting compliance in medical environments. In 2024, a South Korean startup, PowerRotor, unveiled a high-precision SRM with segmented stator design and custom winding architecture. Their motor achieves near-sinusoidal current flow, significantly reducing torque ripple and extending the operational life to over 40,000 hours. This technology is now under testing in robotic arms used in precision manufacturing. Meanwhile, Maccon GmbH developed an SRM for aerospace use, capable of operating under high thermal and vibration stress. Their lightweight 3.2 kg unit supports drone and UAV propulsion systems, boasting a continuous torque of 35 Nm and integrated fault detection. This represents a shift toward SRMs in aviation-grade applications. Rongjia Motor Co., Ltd announced the release of an SRM for textile machinery that maintains consistent performance at variable loads and high RPMs. With a service interval of over 15,000 hours and minimal maintenance needs, it is quickly being adopted by manufacturers in India and Bangladesh. These innovations are driving increased adoption and helping SRMs penetrate markets where traditional AC or BLDC motors previously dominated. The combination of smart electronics, advanced materials, and AI-powered control is reshaping how SRMs are used across industries.

Five Recent Developments

Nidec’s Vietnam Plant Expansion: In 2023, Nidec completed the expansion of its SRM production plant in Ho Chi Minh City, increasing annual capacity by 35%. The new line focuses on automotive-grade SRMs for EV manufacturers across Asia.
AMETEK's Acquisition of SRM Innovator MotionEdge: In 2024, AMETEK acquired MotionEdge, a U.K.-based startup specializing in AI-powered SRM controllers. This move aims to strengthen AMETEK’s product integration capabilities and tap into the intelligent motor systems market.
Turntide Technologies Partnership with Volvo: Turntide Technologies entered a strategic partnership with Volvo in 2023 to supply SRM-based drive systems for electric commercial trucks. The initial prototype achieved a 10% energy efficiency improvement over PMSM alternatives.
VS Technology’s Launch of AI-Coiled SRM Drives: VS Technology launched a new AI-coiled SRM motor series in early 2024, featuring dynamic temperature management and precision torque calibration, reducing mechanical stress by up to 18%.
Shandong Desen’s IoT-Compatible SRM Line: Shandong Desen introduced a line of IoT-enabled SRMs that can communicate with industrial automation systems for real-time diagnostics. The new series reported a 25% reduction in downtime in initial field tests.

Report Coverage of Switched Reluctance Motors (SRM) Market

This report comprehensively covers the global Switched Reluctance Motors (SRM) market across its various facets — from manufacturing trends and application diversity to technological innovation and competitive landscape. The scope includes detailed segmentation by motor type and power output application, supported by historical data, current adoption patterns, and forward-looking projections. The study highlights the diverse application landscape of SRMs across sectors such as automotive, aerospace, industrial automation, energy, and consumer electronics. It identifies the top-performing segments and quantifies motor deployment in use cases ranging from sub-100 kW home appliances to >500 kW heavy industrial systems. A regional breakdown of market performance sheds light on the unique drivers and inhibitors across North America, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific emerges as the hub of innovation and production, while North America and Europe drive high-performance application development and green energy initiatives. The report also profiles key market players, detailing their product portfolios, recent technological advancements, manufacturing expansions, and strategic collaborations. Nidec and AMETEK emerge as market leaders with strong innovation pipelines and extensive geographic reach. Furthermore, the report presents an in-depth look at current investments, venture funding, and public-private initiatives supporting SRM adoption. Emphasis is placed on sustainability, reduction in rare-earth dependency, and the transition toward intelligent motor systems. Finally, readers gain insight into current and future product development trends, challenges in market expansion, and opportunities for disruptive growth across verticals. The report is a valuable resource for manufacturers, suppliers, policymakers, and investors looking to make informed decisions in the evolving SRM landscape.