Permanent Magnet Synchronous Motor - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Permanent Magnet Synchronous Motor Market is accounted for $21.61 billion in 2019 and is expected to reach $57.05 billion by 2027 growing at a CAGR of 12.9% during the forecast period. High efficiency of permanent magnet synchronous motor, use of low cost permanent magnets and increasing awareness of green vehicles are the major factors driving the market growth. However, high price and scarcity of rare earth magnets are restraining the market growth. Moreover, expansion in oil and gas industries and increasing dependence on rare earth magnets would provide ample opportunities for the market growth.
Permanent magnet synchronous motors (PMSMs) are AC synchronous motors that receive field excitation by permanent magnets. These motors have sinusoidal back-EMF and are similar to brushless DC (BLDC) motors. PMSMs provide durability as well as electric stability and ensure reliable performance.
Based on voltage range, the 10V-20Vsegment is likely to have a huge demand as PMSM of this range provides high efficiency, requires low-operating temperature, and reduces the weight of motors. Thus, their suitability across the varied applications would continue to supplement their market growth. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to rise in industrial activities, standardizations on the usage of energy-efficient motors, and advantages of PMSM over other electric motors.
Some of the key players profiled in the Permanent Magnet Synchronous Motor Market include Alstom, Baldor Electric Company Inc (ABB Group), DRS Technologies Inc, Emerson Electric Corp, General Electric Company, Hansen Corporation, Hitachi Ltd, Johnson Electric, Mitsubishi Electric Corporation, Nidec Corporation, Rockwell Automation Inc, Rolls Royce plc, Siemens AG, Toshiba Corporation and Zhejiang Zhongyuan Electric Co Ltd.
Mounting Types Covered:
• Interior Permanent Magnet Synchronous Motor
• Surface Permanent Magnet Synchronous Motor
Power Ratings Covered:
• 200KW - 375 kW
• 375 – 450 kW
• 450 – 600 kW
• 600 kW
Voltage Ranges Covered:
• Above 60V
• 9V and below
• Automotive & Transportation
• Compressor Industries
• Consumer Electronics
• Industrial & Manufacturing
• Lab Equipment
• Medical & Healthcare
• Metals & Mining
• Oil & Gas
• Paper & Pulp
• Pumps & Ventilation Systems
• Residential & Commercial
Sales Channels Covered:
• Distribution Channel
• Direct Channel
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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