Permanent Magnet Motor Market Size, Growth Insight, Trends and Forecasts to 2026

According to the new market research report "Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25–100 kW, 100–300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential), and Region - Global Forecast to 2026" The global permanent magnet motor market is projected to reach USD 64.6 billion by 2026 from an estimated value of USD 41.2 billion in 2021, at a CAGR of 9.4% during the forecast period. Increasing demand for energy-efficient motors and growing implementation of permanent magnet motor in industries such as automotive are the key factors driving the permanent magnet motor market. The high initial cost of permanent magnet motor can restraint the growth of the permanent magnet motor market. However, growing robotics technology offers promising business opportunities in the permanent magnet motor market.

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Upto 25 kW is expected to be the largest permanent magnet motor market segment by power rating

The market for permanent magnet motor of upto 25 kW is expected to be the largest during the forecast period. Permanent magnet motors with power range up to 25 kW have high starting torque and overload capacity. These motors find their usage for various applications such as Healthcare, textile, pulp & paper, aerospace, robotics, window shutters, air conditioners, door shutters. During the forecast period, countries such as China, India, Japan, and US, are likely to witness high investments in the coming years, which will ultimately boost the demand for permanent magnet motors rated in the power range of up to 25 kW.

Industrial segment is expected to capture the major share of the permanent magnet motor market by application

Industrial segment by end user is expected to be the largest segment during the forecast period. Permanent magnet motors form an integral part of the industrial end use sector and are primarily used in automotive, textile, paper mills, and robotics applications, among others. Industrial segment is mainly driven by the increasing manufacturing of Electric vehicles & Electronic equipment’s in the countries specially China, Germany, United States, Japan and France.

Asia Pacific is expected to be the fastest-growing segment of the global permanent magnet motor market

The permanent magnet motor market in Asia Pacific, led by China, is expected to grow. APAC is a growing market for Permanent Magnet Motor in various applications, such as automotive, electronics in industrial segment and offices and healthcare in commercial segment, due to its fast-growing economies. The market in China is expected to grow mainly because the number of manufacturing units in China is increasing, which is expected to create a massive demand for Permanent Magnet Motor. Another reason for the growth of the Permanent Magnet Motor market in APAC is the increase in the number of manufacturing plants in various sectors, such as transportation, chemicals, and pharmaceutical industries.

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The major players in permanent magnet motor market, such as ABB (Switzerland), Siemens (Germany), Wolong (China), WEG (Brazil) and Rockwell Automation (US), have comparable strengths in terms of customer base, diversified product portfolios, technological capabilities, and regional presence, and they cumulatively hold a major portion of the total market share.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Permanent Magnet Motor Market to Touch $64.6 billion by 2026; at a CAGR of 9.4% from 2021 to 2026

According to the new market research report "Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25–100 kW, 100–300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential), and Region - Global Forecast to 2026" The global permanent magnet motor market is projected to reach USD 64.6 billion by 2026 from an estimated value of USD 41.2 billion in 2021, at a CAGR of 9.4% during the forecast period. Increasing demand for energy-efficient motors and growing implementation of permanent magnet motor in industries such as automotive are the key factors driving the permanent magnet motor market. The high initial cost of permanent magnet motor can restraint the growth of the permanent magnet motor market. However, growing robotics technology offers promising business opportunities in the permanent magnet motor market.

Browse 130 market data Tables and 60 Figures spread through 200 Pages and in-depth TOC on "Permanent Magnet Motor Market - Global Forecast to 2026"

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Upto 25 kW is expected to be the largest permanent magnet motor market segment by power rating

The market for permanent magnet motor of upto 25 kW is expected to be the largest during the forecast period. Permanent magnet motors with power range up to 25 kW have high starting torque and overload capacity. These motors find their usage for various applications such as Healthcare, textile, pulp & paper, aerospace, robotics, window shutters, air conditioners, door shutters. During the forecast period, countries such as China, India, Japan, and US, are likely to witness high investments in the coming years, which will ultimately boost the demand for permanent magnet motors rated in the power range of up to 25 kW.

Industrial segment is expected to capture the major share of the permanent magnet motor market by application

Industrial segment by end user is expected to be the largest segment during the forecast period. Permanent magnet motors form an integral part of the industrial end use sector and are primarily used in automotive, textile, paper mills, and robotics applications, among others. Industrial segment is mainly driven by the increasing manufacturing of Electric vehicles & Electronic equipment’s in the countries specially China, Germany, United States, Japan and France.

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Asia Pacific is expected to be the fastest-growing segment of the global permanent magnet motor market

The permanent magnet motor market in Asia Pacific, led by China, is expected to grow. APAC is a growing market for Permanent Magnet Motor in various applications, such as automotive, electronics in industrial segment and offices and healthcare in commercial segment, due to its fast-growing economies. The market in China is expected to grow mainly because the number of manufacturing units in China is increasing, which is expected to create a massive demand for Permanent Magnet Motor. Another reason for the growth of the Permanent Magnet Motor market in APAC is the increase in the number of manufacturing plants in various sectors, such as transportation, chemicals, and pharmaceutical industries.

The major players in permanent magnet motor market, such as ABB (Switzerland), Siemens (Germany), Wolong (China), WEG (Brazil) and Rockwell Automation (US), have comparable strengths in terms of customer base, diversified product portfolios, technological capabilities, and regional presence, and they cumulatively hold a major portion of the total market share.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
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MarketsandMarkets™ INC.
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Permanent Magnet Motor Market | Emerging Industry Volume & Analysis 2023

The permanent magnet motor market is expected to grow from an estimated market size of USD 29.50 Billion in 2018 to USD 45.13 Billion by 2023, at a CAGR of 8.87%, from 2018 to 2023. The global market is set to witness a significant growth because of the increasing implementation of permanent magnet motors across industries. Growing robotics technology presents a significant opportunity for the permanent magnet motor market.

Permanent Magnet AC Motor: The largest segment, by type, during the forecast period

The permanent magnet AC motor segment is expected to hold the majority share of the permanent magnet motor market during the forecast period. Growing investment in consumer electronics and government initiatives to promote the use of energy-efficient motors are the major factors driving the permanent magnet motor market in the Asia Pacific region. The Asian market players, such as Yaskawa, Nidec, Toshiba Corporation, and Johnson Electric are involved in the manufacturing of permanent magnet AC motors. These factors have resulted in the highest market share of the permanent magnet AC motor segment in the permanent magnet motor market.

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The up to 25 kW segment accounts for the largest share of the permanent magnet motor market, by power rating, during the forecast period

The up to 25 kW segment is expected to be the largest market, by power rating, from 2018 to 2023. The factors driving the market for permanent magnet motors ranging up to 25 kW include vast implementation of these permanent magnet motors in textile, pulp & paper, medical devices, aerospace, robotics, window shutters, air conditioners, door shutters, and electrical vehicles.

Scope of the Report:

• By Type
  • Permanent Magnet Alternate Current Motor (PMAC)
  • Permanent Magnet Alternate Direct Motor (PMDC)
  • Brushless DC
• By Power Rating
  • Up to 25 kW
  • 25–100 kW
  • 100–300 kW
  • 300 kW & Above
• By End-User
  • Industrial
  • Commercial & Residential
  • Healthcare
  • Others
• By Region
  • Asia Pacific
  • North America
  • Europe
  • South America
  • The Middle East & Africa

Asia Pacific: The fastest-growing market for permanent magnet motor

In this report, the permanent magnet motor market has been analyzed on the basis of five regions, namely, Asia Pacific, North America, Europe, and the Middle East & Africa. The permanent magnet motor market in Asia Pacific is driven by countries such as China, India, Japan, and Australia. Asia Pacific has economies with increasing industrial & manufacturing sectors, automotive, consumer electronics, chemicals and processing, and paper & pulp. The demand for permanent magnet motors in these sectors is driven by rapid industrialization, rising population, and urbanization. Countries such as China and Japan have implemented energy efficiency standards to save electricity consumption. This drives the market for permanent magnet motors. Governments of major economies in Asia Pacific promote the use of energy-efficient motors in order to save electricity. This drives the market for permanent magnet motors in Asia Pacific.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the key players in the permanent magnet motor market. These include GE (US), Siemens (Germany), ABB (Switzerland), Toshiba Corporation (Japan), and Emerson (US). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their market shares.

Objectives of the Study

• To define, describe, and forecast the global permanent magnet motor market on the basis of type, power rating, end-users, and region
• To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market
• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
• To forecast the growth of the market with respect to major regions (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
• To profile key players and comprehensively analyze their market ranking and core competencies
• To analyze competitive developments, such as mergers & acquisitions, expansion, new product developments, and contracts & agreements in the field of market

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Permanent Magnet Motor Market to Expand at a CAGR of 8.87%, Global Key Players, Trends, Share, Industry Size, Segmentation, and Forecast to 2023

According to the new market research report "Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25–100 kW, 100–300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential, and Healthcare), and Region - Global Forecast to 2023", The permanent magnet motor market is estimated to grow at a CAGR of 8.87%, from 2018 to 2023, to reach a projected market size of USD 45.13 billion by 2023. A permanent magnet motor (consisting of a stator and a rotor having permanent magnets) is a machine in which its rotor spins in synchronization with the rotating internal magnetic field without incurring any excitation losses. Increasing demand for energy-efficient & low-cost maintenance motors and increased implementation of permanent magnet motors across industries are some of the factors contributing to the growth of the permanent magnet motor market. Shifting from rare earth magnets to cost-effective ferrite permanent magnets is one of the major opportunities for the permanent magnet motor market.

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The industrial segment is estimated to be the largest market for permanent magnet motors in 2018. The market for the industrial segment is driven by the investments being made in the electronic and automotive sectors in order to increase efficiency, productivity, reliability, and safety in the industrial sector.

Browse and in-depth TOC on "Permanent Magnet Motor Market"

101 - Tables

37 - Figures

138 - Pages

View detailed Table of Content here:

https://www.marketsandmarkets.com/Market-Reports/permanent-magnet-motor-market-218887711.html

Asia Pacific is expected to be the fastest-growing market for permanent magnet motors from 2018 to 2023. The demand for permanent magnet motors in Asia Pacific is driven by rapid industrialization, rising population, and urbanization. Countries such as China and Japan have implemented energy-efficiency standards to save electricity consumption, which has led to a growth in the demand for permanent magnet motors. China and Japan are expected to be the two largest markets for permanent magnet motors in the region in 2018. These countries are witnessing the increasing government initiatives to strengthen the automotive sector as well as developing healthcare sector. Moreover, the market is also expected to grow significantly in countries such as India and South Korea during the forecast period. Factors such as growing renewable power generation and rising adoption of new technologies in electric vehicles are driving the permanent magnet motor market in India and South Korea.

The permanent magnet AC motor segment is expected to be the fastest-growing segment of the permanent magnet motor market from 2018 to 2023. This is due to the major advantages of these motors such as providing high torque capacity, high-quality magnetic performance, high accelerations, and high withstand overloads capacity without risk of magnetization of the magnets, which helps to eliminate the need for costly maintenance. Asia Pacific is the fastest-growing market for permanent magnet motors and offers various business opportunities to permanent magnet motor manufacturers in the permanent magnet AC motor segment. In Asia Pacific, governments are focusing on promoting the use of energy-efficient motors in order to save electricity. These factors would drive the permanent magnet motor market.

The up to 25 kW segment is expected to be the fastest-growing market, by power rating, from 2018 to 2023. The permanent magnet motor ranging up to 25 kW is used in textile, pulp & paper, medical devices, aerospace, robotics, window shutters, air conditioners, door shutters, and electrical vehicles. A total of 70–80% of these motors are used in consumer electronics and industrial sectors. Hence, Asian countries, such as China, India, Japan, and South Korea, where these sectors are expected to experience a lot of investments in the coming years, will result in the higher market share of the up to 25 kW permanent magnet motor segment.

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The industrial segment is expected to be the fastest-growing segment of the permanent magnet motor market from 2018 to 2023. These motors are used in industrial machines, textile rewinding machines, and also used with Variable Frequency Drives (VFDs) in pumps, blowers, fans, compressors, and hoists. The automotive is one of the major industries within the industrial sector, installing the maximum number of permanent magnet motors. 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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