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Permanent Magnet Motor Market is set for lucrative growth during 2021-2031 | Size, Share, Demand and Opportunities Analysis
Permanent Magnet Motor Market
Read more about Permanent Magnet Motor market here: https://www.globalinsightservices.com/reports/permanent-magnet-motor-market/
A permanent magnet motor is an electric motor that uses permanent magnets to create its magnetic field. This type of motor is typically used in applications where the motor will be running continuously, such as in a fan or pump. Permanent magnet motors are more efficient than other types of electric motors, and they are also smaller and lighter.
Key Drivers
The main drivers of the permanent magnet motor market are the increasing demand for energy-efficient motors, and the need for miniaturization.
The demand for energy-efficient motors is driven by the need to reduce energy consumption and carbon emissions. Permanent magnet motors are more efficient than conventional motors, and thus their adoption is increasing in a variety of applications, such as pumps, fans, and compressors.
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Market Segments
The permanent magnet motor market is segmented by motor type, magnet type, application, and region. By motor type, the market is divided into alternating current motors, direct current motors, hermetic motors. On the basis of magnet type, it is bifurcated into neodymium, samarium cobalt, and ferrite. Based on application, the market is classified into factory automation, consumer, commercial, medical, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Key Players
The global permanent magnet motor market includes players such as Rockwell Automation, Johnson Electric, Toshiba, AMETEK, TECO, Dumore, Electrocraft, Cartermotor Company, Yaskawa, Allied Motion, and others.
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Key Drivers
The main drivers of the permanent magnet motor market are the increasing demand for energy-efficient motors, and the need for miniaturization.
The demand for energy-efficient motors is driven by the need to reduce energy consumption and carbon emissions. Permanent magnet motors are more efficient than conventional motors, and thus their adoption is increasing in a variety of applications, such as pumps, fans, and compressors.
The need for miniaturization is another driver of the permanent magnet motor market. Permanent magnet motors are smaller and lighter than conventional motors, and thus are ideal for use in portable applications, such as laptops and cell phones.
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