Permanent Magnet Motor - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Permanent Magnet Motor Market is accounted for $27.15 billion in 2017 and is expected to reach $60.19 billion by 2026 growing at a CAGR of 9.2%.Some of the factors such as rising demand for the implementation of permanent magnet motors across industries and low maintenance costs are driving the market growth. However, an increase in the initial cost of a permanent magnet motor is hampering the growth of the market. Moreover, increasing use of permanent magnets, owing to its unique properties, subsequently, are considered as the growth opportunity for the market.
Permanent magnet motor is a synchronous motor with permanent magnets attached to the surface of the motor. These motors are of three types, namely, permanent magnet AC motors, permanent magnet DC motors, and brushless DC motor. Permanent magnet motors have various advantages such as high efficiency, high power density, and ease of control. Moreover, there are low mechanical friction losses due to the absence of mechanical commutators and brushes. The major advantages of permanent magnet motor are its compact size, efficiency, and no requirement of a cooling fan.
Based on the end-user, the automotive segment has a lucrative market share during the forecast period. Due to installing the maximum number of permanent magnet motors.
By geography, the Asia Pacific region is driven by owing to the growing demand for energy-efficient motors for end-use applications such as electric vehicles, consumer electronics, and automobiles in the region.
Some of the key players in Permanent Magnet Motor market include Siemens, ABB, Allied Motion, Rockwell, General Electric Company, Johnson Electric, Ametek, Schneider Electric, Fanuc Corp, Toshiba Corporation, John Deere, Emerson, Honeywell International Inc, Yaskawa, and Weg.
• Brushless DC
• Permanent Magnet Direct Current Motor (PMDC)
• Permanent Magnet Alternate Current Motor (PMAC)
• Hermetic Motors
Power Ratings Covered:
• Up to 25 kW
• 25–100 kW
• 100–300 kW
• 300 kW & Above
Material Types Covered:
• Samarium Cobalt
• Rare Earth
• Other Material Types
End Users Covered:
• Water and Wastewater Management
• Mining, and Oil and Gas
• Lab Equipment
• Other End Users
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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