Explosive Growth in Permanent Magnet Synchronous Motor (PMSM) Market: An Outlook on Key Drivers, Market Size, Top Players, and Emerging Trends

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Soaring Trends in Global Permanent Magnet Synchronous Motor (PMSM) Market: Growth Estimations, Influential Factors, and Novel Developments

What Is The Projected Market Size Of The Global Permanent Magnet Synchronous Motor (PMSM) Market And Its Growth Rate?
The Global Permanent Magnet Synchronous Motor (PMSM) market has been witnessing robust growth:
• The market grew from $27.01 billion in 2024 to $29.3 billion in 2025, a solid CAGR of 8.5%. This growth was fueled by electric vehicle adoption, industrial automation and robotics, energy efficiency initiatives, increased use in HVAC systems, and advancements in magnet materials.
• The PMSM market is expected to surge to $40.4 billion by 2029, at a CAGR of 8.4%. This anticipated growth is attributed to the expansion of renewable energy applications, growth in EV charging infrastructure, smart grid and distributed energy systems, integration of PMSMs in household appliances, and the electrification of transportation.

What Is Driving The Growth In The Permanent Magnet Synchronous Motor (PMSM) Market?
The swift emergence of green vehicles is making a significant contribution to the growth of the PMSM market. Green vehicles, which have fewer negative environmental impacts than conventional vehicles, are seeing increased demand due to their zero-emission and fuel economy standards. According to a report by the International Council for Clean Transport (ICCT), global EV sales reached 10 million in 2022, a 54% increase from 2021. This surge in green vehicle adoption is expected to continue propelling the growth of the PMSM market over the years.

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Who Are the Key Players Driving Permanent Magnet Synchronous Motor (PMSM) Market Growth?
Key players operating in the PMSM market include:
• Siemens AG
• Mitsubishi Electric Corporation
• Toshiba Corp.
• Hitachi Ltd.
• Asea Brown Boveri Ltd.
• Robert Bosch GmbH
• Meidensha Corporation
• Continental AG
• Alstom SA
• Zhongshan Broad-Ocean Motor Co Ltd
• Xizi Forvorda
• DRS Technologies Inc.
• Emerson Electric Co.
• Johnson Electric Holdings Limited
• Nidec Motor Corporation
• AMETEK Inc.

What Are The Key Trends In The Permanent Magnet Synchronous Motor (PMSM) Market?
Key trends in the PMSM market include:
• Rare-earth element recycling for magnets
• PMSMs with advanced sensor technology
• Adoption of silicon carbide (SiC) power electronics
• Customized PMSM solutions for specific industries
• Smart motor diagnostics and predictive maintenance

What Are The Segments Of The Global Permanent Magnet Synchronous Motor (PMSM) Market?
The PMSM market can be segmented as follows:
• By Type: Surface, Interior
• By Capacity: 375-450 kW, 450-600 kW, Above 600 kW
• By Voltage Range: Above 60V, 41V60V, 31V40V, 21V30V, 10V20V, 9V and Below
• By Application: Automation, Consumer Electronics, Residential and Commercial, Automotive and Transportation, Lab Equipment, Medical, Military and Aerospace

Which Region Leads The Permanent Magnet Synchronous Motor (PMSM) Market?
Asia-Pacific was the leading region in the PMSM market in 2024. Additionally, it is predicted to be the fastest-growing region during the forecast period. The other regions included in the PMSM market report are Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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What Is Covered In The Permanent Magnet Synchronous Motor (PMSM) Market Global Market Report?
- Market Size Analysis: Analyze the Permanent Magnet Synchronous Motor (PMSM) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Permanent Magnet Synchronous Motor (PMSM) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Permanent Magnet Synchronous Motor (PMSM) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Permanent Magnet Synchronous Motor (PMSM) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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