Press release
Increasing Demand In Electric Vehicles Is Expected To Boost Sales Of Permanent Magnet Synchronous Motors During The Forecast Period 2022-2032
Permanent magnet synchronous motor is an AC synchronous motor in which field excitation is provided by permanent magnets. It has a sinusoidal back electromotive (EMF) waveform. The global permanent magnet synchronous motors market is exhibiting significant growth.Permanent magnet synchronous motors are widely used in various end-use industries such as oil and gas, automotive, aerospace, defense, mining, marine, and electrical and electronics.
Moreover, consistent technological advancements coupled with research and development for innovative design concepts have benefited the market with the introduction of several types of permanent magnet synchronous motors such as axial field and radial field permanent magnet synchronous motors. According to Fact.MR, the permanent magnet synchronous motors market is forecast to grow at above 5% CAGR between 2020 and 2030.
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Permanent Magnet Synchronous Motors Market Insights Segmentation
By Region
North America
Europe
East Asia
South Asia
Latin America
Oceani
Middle East & Africa
By Control
Trapezoidal
Open Loop
Closed Loop
Sinusoidal
Scalar
Vecto
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Competitive Landscape
The global permanent magnet synchronous motors market is highly competitive. Market players are readjusting, as the far-reaching impacts of COVID-19 on automotive sector and industrial output are yet to be fully realized. Further, owing to stringent regulations on pollutants, demand for energy-efficient motors is likely to increase.
Key Takeaways
The global permanent magnet synchronous motor market is expected to witness growth rates of 5% till 2030.
A blooming industrial sector and lenient government regulations will help the Asia Pacific region to remain lucrative
The implementation of Minimum Energy Performance Standards (MEPs) and similar regulations have positively affected the market growth.
Growing demand of permanent magnet synchronous motors in electric vehicles is a key driving factor
Essential Takeaways from the Permanent Magnet Synchronous Motors Market Insights Report
Comparison of prominent players operating in the Permanent Magnet Synchronous Motors Market Insights.
Recent developments and key strategies adopted by market players.
Study of the micro and macro-economic growth indicators.
Impact of the various factors on the value chain of the Permanent Magnet Synchronous Motors Market Insights.
Growth opportunities for emerging market players in various regional markets.
Current trends influencing the scenario of the Permanent Magnet Synchronous Motors Market Insights.
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Important queries related to the Permanent Magnet Synchronous Motors Market Insights addressed in the report:
Who are the most prominent players in the Permanent Magnet Synchronous Motors Market Insights?
What are the factors that are likely to hinder the growth of the Permanent Magnet Synchronous Motors Market Insights during the forecast period (2021-2031)?
Why is the concentration of tier-1 companies high in specific region?
How are the soaring prices of raw materials impacting the demand for keyword?
Why are market players eyeing opportunities in particular region?
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