Permanent Magnet Motor Market Will Reach $64.6 billion by 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 market. The high initial cost of permanent magnet motor can restraint the growth of the market. However, growing robotics technology offers promising business opportunities in the market.

Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218887711

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 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 market in APAC is the increase in the number of manufacturing plants in various sectors, such as transportation, chemicals, and pharmaceutical industries.

Request Sample Pages - https://www.marketsandmarkets.com/requestsampleNew.asp?id=218887711

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.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

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.

This release was published on openPR.