Press release
Permanent Magnet Motor Market Size Forecasted To Achieve $72.66 Billion By 2029 With Steady Growth
Permanent Magnet Motor Market
What Is the Permanent Magnet Motor Market Size and Projected Growth Rate?
The permanent magnet motor market size is expected to grow from $45.42 billion in 2024 to $49.95 billion in 2025 at a CAGR of 10.0%. Growth is attributed to the increase in new households, automotive sector adoption, machine efficiency improvements, and demand for energy-efficient motors.
The permanent magnet motor market size is expected to reach $72.67 billion in 2029, growing at a CAGR of 9.8%. This growth is driven by increased production costs, higher motor efficiency, rising demand for permanent magnet motors, and increased vehicle sales. Key trends include technological advancements, motor design innovations, and research investments.
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What Are the Major Segments in the Permanent Magnet Motor Market?
The permanent magnet motormarket covered in this report is segmented -
1) By Type: Permanent Magnet Alternating Current (PMAC), Permanent Magnet Direct Current (PMDC), Brushless Direct Current (DC) Motors
2) By Power Rating: Up To 25KW, 25-100kW, 100-300KW, 300KW And Above
3) By Application: Automotive, Industrial, Consumer Electronics, Aerospace And Defense, Energy And Power Generation, Healthcare
4) By End User: Industrial, Commercial, Residential
Subsegments:
1) Permanent Magnet Alternating Current (PMAC): Synchronous PMAC Motors, Asynchronous PMAC Motors, Servo PMAC Motors
2) Permanent Magnet Direct Current (PMDC): Series Wound PMDC Motors, Shunt Wound PMDC Motors, Permanent Magnet Stepper Motors
3) Brushless Direct Current (DC) Motors: Outrunner Brushless DC Motors, Inrunner Brushless DC Motors, Servo Brushless DC Motors
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What Are The Driving Permanent Magnet Motor Market Evolution?
The increasing adoption of electric vehicles is likely to stimulate growth in the permanent magnet motor market. This growth is driven by heightened environmental awareness, government incentives, advancements in battery technology, and the increasing consumer demand for sustainable transportation. Permanent magnet motors are essential in electric vehicles due to their high efficiency, compact size, and low maintenance needs. The World Economic Forum reported that global electric vehicle sales surged by 55% in 2022, reaching 10.5 million units.
Which Firms Dominate The Permanent Magnet Motor Market Segments?
Major companies operating in the permanent magnet motor market are Robert Bosch GmbH, Siemens AG, General Electric Co., Denso Corporation, ABB Limited, Toshiba Corporation, Valeo SA, Emerson Electric Co., Parker Hannifin Corporation, Nidec Corporation, Rockwell Automation Inc., MinebeaMitsumi Inc., Ametek Inc., WEG S.A., Yaskawa Electric Corp., Johnson Electric Holdings Ltd., Wolong Electric Co. Ltd., Buhler Motors GmbH, Bonfiglioli Group, Aerotech Corporation, Sinotech Group Inc.
What Trends Are Driving Growth in The Permanent Magnet Motor Market?
Leading companies in the permanent magnet motor market are working on innovations like brushed permanent magnet DC motors to improve energy efficiency and meet the demand for reliable solutions in various sectors. For instance, in June 2023, Delta Line, a Swiss company, launched high-torque brushed permanent magnet DC motors designed for tough environments, offering customization options for different applications.
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Which Is The Largest Region In The Permanent Magnet Motor Market?
Asia-Pacific was the largest region in the permanent magnet motor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the permanent magnet motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Permanent Magnet Motor Market?
2. What is the CAGR expected in the Permanent Magnet Motor Market?
3. What Are the Key Innovations Transforming the Permanent Magnet Motor Industry?
4. Which Region Is Leading the Permanent Magnet Motor Market?
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