Global Permanent Magnet Motor Market Scenario:
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 permanent magnet motor market. The high initial cost of permanent magnet motor can restraint the growth of the permanent magnet motor market. However, growing robotics technology offers promising business opportunities in the permanent magnet motor market.
Key Market Players:
The key players profiled in this report are 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.
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This research report categorizes the permanent magnet motor market by type, power rating, application, and region.
The permanent magnet motor market, by type:
- PMAC
- PMDC
- Brushless DC
The permanent magnet motor market, by power rating:
- Up to 25 kW
- 25–100 kW
- 100–300 kW
- 300 kW and Above
The permanent magnet motor market, by end user:
- Industrial
- Automotive
- Textile
- Pulp & Paper
- Aerospace & Aviation
- Electronics
- Robotics
- Food & Beverage
- Chemicals & Petrochemicals
- Others
- Commercial and Residential
- Commercial
- Malls
- Offices
- Banks
- Healthcare
- Others
- Residential
- Commercial
- Others (Defense, Railways)
The permanent magnet motor market, by region:
- Asia Pacific
- North America
- Europe
- Middle East & Africa
- South America
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 Permanent Magnet Motor market in APAC is the increase in the number of manufacturing plants in various sectors, such as transportation, chemicals, and pharmaceutical industries.
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Report Objectives:
- To define and describe the global permanent magnet motor market by type, power rating, end user, and region.
- To provide detailed information about the major factors influencing the market (drivers, restraints, opportunities, and industry-specific challenges).
- To strategically analyze the global permanent magnet motor market with respect to individual growth trends, future expansions, and each segment’s contribution to the market.
- The impact of the COVID-19 pandemic on the permanent magnet motor market has been analyzed to estimate the market size.
- To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders.
- To forecast the growth of the global permanent magnet motor market with respect to the main regions (Asia Pacific, North America, Europe, Middle East & Africa, and South America).
- To profile and rank key players and comprehensively analyze their market share.
- To analyze competitive developments such as contracts & agreements, product launches, and mergers & acquisitions in the permanent magnet motor market.
