Permanent Magnet Synchronous Motor (PMSM) Market Rises with Improved Revenue Growth

Permanent Magnet Synchronous Motor (PMSM) Market is expected to garner $31.1 billion by 2022, registering a CAGR of 10.9% during the forecast period 2016-2022.

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PMSMs are widely used in automation, consumer electronics, medical and lab equipment, and automotive amongst others. The automation sector is a significant revenue contributor to the PMSM market, accounting for over 30% of the overall revenue throughout the analysis period. This is attributable to the prominent role played by PMSM in the motion-control applications owing to its functionalities such as high efficiency, compact size, high power, and high torque-to-inertia ratio. From a revenue growth perspective, lab equipment would be the most lucrative application sector, owing to the to the high demand for PMSM from lab equipment manufacturers due to its high torque, speed, and reliability.

Major factors influencing the PMSM market growth are rising need and demand for energy-efficient low power-consuming motors, growing demand of PMSMs in industrial and agricultural sectors, and increasing awareness towards the use of green vehicles. Furthermore, increasing emphasis on the maintenance and use of standard motors is likely to create opportunities for PMSM market growth in the future.

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Key findings of the Permanent Magnet Synchronous Motor (PMSM) Market:

The automation sector is expected to lead the market during the forecast period, attributed to high efficiency, compact size, high power, and high torque-to-inertia ratio that PMSM provides.

PMSMs with voltage range 9V and below is expected to be the fastest growing product segment, in terms of revenue.

LAMEA is expected to register the highest growth over the forecast period.

Industry participants focus on introducing new products and acquisitions to strengthen their market share.

PMSM market comprises dominant players such as Baldor Electric Company, General Electric Company, and Siemens AG. These players focus on the development of new technology, launch of novel products with innovative variations, and acquisition as their key strategies to strengthen their position in the market.

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