Permanent Magnet Motor Market 2021-2026 Forecast and COVID-19 Impact on Business, Industry, Revenue and Actionable Insights-Siemens AG, Rockwell Automation, ABB Limited, Franklin Electric Company Inc

Permanent Magnet Motor Market by Component, Application, Services, and Region- Forecast to 2026

The Global Permanent Magnet Motor Market Research Report 2021-2026 published by MarketInsightsReports is a significant source of keen information for business specialists. It furnishes the Permanent Magnet Motor business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Permanent Magnet Motor worth chain and its wholesaler examination. Permanent Magnet Motor Market study gives extensive information which upgrades the agreement, degree, and use of this report.

The permanent magnet motor market was valued at USD 30.11 billion in 2020 and expected to reach USD 50.27 billion by 2026 and grow at a CAGR of 9.21% over the forecast period (2021 - 2026).

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Top Leading Companies of Permanent Magnet Motor Market are Siemens AG, Rockwell Automation, ABB Limited, Franklin Electric Company Inc., Allied Motion Technologies Inc., Toshiba Corporation, Ametek Inc., Johnson Electric Holdings Ltd, Autotrol Corporation, Robert Bosch GmbH, Danaher Corporation, Bonfiglioli Riduttori SpA, Aerotech Corporation, Crouzet Automatismes SAS, Buhler Motors GmbH, Nider Corporation and others.

Industry News And Updates on Permanent Magnet Motor Market-

-North America Holds Significant Market Share

- The North American region is expected to hold a significant share globally due to the increasing investments by market players and other organizations, coupled with government initiatives toward building an energy-efficient and sustainable environment. The strong wind energy sector is set to grow in the region and boost the growth of the permanent magnet market during the forecast period.

- With the focus on energy-efficient solutions rising, industries across the region are deploying PMM across various factory operation segments, in turn, augmenting the market for PMM. Canada is focusing heavily on energy consumption with programs like CIPEC (Canada Industry Program for Energy Conservation).

Key Market Trends Permanent Magnet Motor Market-

-Direct Current Motor Holds Significant Share

- Permanent DC motors have been popular in the industry since the industry started shifting from an induction motor. The DC motors offer a few advantages, such as ease of operation, compact size, and ability to perform without further control.

- PMDC motors are highly efficient, and they can provide considerable power and torque in a tiny form factor. Additionally, they can be easily interfaced with batteries because they have been widely used in various applications. Their compact size and compatibility with batteries provide opportunities for many newer applications and industries, like drones, regenerative braking, power tools, etc.

Competitive Landscape On Permanent Magnet Motor Market-

-March 2020 - ABB upgraded its synchronous reluctance (SynRM) to offer a new first choice to meet the growing global demand for improved energy efficiency. These motors now meet the new IE5 ultra-premium energy efficiency class defined by the International Electrotechnical Commission (IEC). ABB customers can increase energy efficiency, improve sustainability, and enhance reliability by upgrading to ABB IE5 ultra-premium SynRM motors that offer up to 50% lower energy losses than IE2 motors.

- March 2020 - Equipmake and the additive manufacturing company HiETA collaborated to develop and produce a power-dense permanent magnet electric motor. The partnership aims to produce a power-dense e-motor capable of outputting 220kW at 30,000 rpm, which weighs less than 10 kg (22 lb). While most permanent magnet motors currently struggle to produce 5 kW/kg, the new partnership aims to achieve 20 kW/kg. Such partnerships among supply chain partners are expected to boost investment in R&D in the market.

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