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Rare earth metals are used to create rare earth magnets. They serve as powerful magnets in PM motors. To sustain their electric field, permanent magnets don't require constant electrical power. PM motors are therefore preferred to electromagnetic motors. The divergent application of permanent nanocomposite magnets is one recent advancement in permanent magnets. Permanent nanocomposite magnets can be used to create such magnets, which results in smaller, more efficient motors. In magnetic storage devices, biomedicine, sensors, pigments, and catalysts, these magnets are employed.
The majority of permanent magnet motors have an AC or DC electric motor attached to them. These motors are more efficient than other electric motors, use less power, and have great heat dissipation capabilities. Permanent magnet motors are employed in a variety of industrial applications to raise machine efficiency. Permanent magnet motors are commonly found in forklifts, robots, blower drives, switchers on railroads, tracks, and crossing gates, marine pumps, and amusement rides. The market for permanent magnet motors is now driven by a number of advantages of permanent magnets, including operating capabilities at higher temperatures due to more small rotor losses and more microscopic bearing currents due to more considerable air gaps. Additionally, compared to asynchronous type motors, permanent magnet synchronous motors have a torque capability that is 30% to 60% higher and accelerate and decelerate more quickly.
From 2022 to 2030, the permanent magnet motor market is anticipated to grow at a global CAGR of 8.70%, reaching a forecasted market value of USD 64.6 billion. Global demand for permanent magnet motors is anticipated to be primarily driven by the industrial sector. The market is seeing a growing requirement to adopt the permanent magnet motor in a wide range of industries, including the automotive, and there has been an increase in demand for motors that promise energy efficiency. During the projection period of 2022–2030, this is likely to promise the market strong growth.
In compared to induction motors, the permanent magnet motors, which are also the most powerful type of traction motors, promise to be more efficient and commercially available. Many industries, including textile, pulp and paper, and electronics, choose to use these motors, offering higher-functioning products with more features as a result.
However, there has been a significant problem that could prevent the market from expanding over the projection period, which will conclude in 2028. The utilisation of items available on the market comes at a hefty expense. The primary cause of this cost increase is the high price of rare-earth magnets, which goes hand in hand with these market motors.
Rare-earth permanent magnets are frequently employed in extremely pricey magnet motors. In APAC nations like China, where ferrite magnets are readily available, they are employed in the manufacturing procedures of affordable motors. In low-frequency applications, such as motor drivers, the current loss in ferrite magnets is not particularly high. Despite the fact that they are pricey, many nations are looking for ways to employ these magnets. They guarantee lower maintenance costs.
Report Coverage
Global Permanent Magnet Motor research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Permanent Magnet Motor report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Permanent Magnet Motor competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Permanent Magnet Motor market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Permanent Magnet Motor market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Permanent Magnet Motor market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB (Switzerland), General Electric (US), Siemens (Germany), Yaskawa (Japan), Rockwell (US), Nidec (Japan), Ametek (US), Toshiba Corporation (Japan), WEG (Brazil), Emerson (US), Johnson Electric (Hongkong), Allied Motion (US).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Permanent Magnet Motor market based on the below-mentioned segments:
Global Permanent Magnet Motor Market, By Type
PMAC
PMDC
& Brushless DC
Global Permanent Magnet Motor market, By Power Rating
Up to 25kW
25-100kW
100-300kW
300kW & Above
Global Permanent Magnet Motor Market, By End User
Industrial
Commercial
Residential
Healthcare
Global Permanent Magnet Motor market, Regional Analysis
The majority of permanent magnet motors have an AC or DC electric motor attached to them. These motors are more efficient than other electric motors, use less power, and have great heat dissipation capabilities. Permanent magnet motors are employed in a variety of industrial applications to raise machine efficiency. Permanent magnet motors are commonly found in forklifts, robots, blower drives, switchers on railroads, tracks, and crossing gates, marine pumps, and amusement rides. The market for permanent magnet motors is now driven by a number of advantages of permanent magnets, including operating capabilities at higher temperatures due to more small rotor losses and more microscopic bearing currents due to more considerable air gaps. Additionally, compared to asynchronous type motors, permanent magnet synchronous motors have a torque capability that is 30% to 60% higher and accelerate and decelerate more quickly.
From 2022 to 2030, the permanent magnet motor market is anticipated to grow at a global CAGR of 8.70%, reaching a forecasted market value of USD 64.6 billion. Global demand for permanent magnet motors is anticipated to be primarily driven by the industrial sector. The market is seeing a growing requirement to adopt the permanent magnet motor in a wide range of industries, including the automotive, and there has been an increase in demand for motors that promise energy efficiency. During the projection period of 2022–2030, this is likely to promise the market strong growth.
In compared to induction motors, the permanent magnet motors, which are also the most powerful type of traction motors, promise to be more efficient and commercially available. Many industries, including textile, pulp and paper, and electronics, choose to use these motors, offering higher-functioning products with more features as a result.
However, there has been a significant problem that could prevent the market from expanding over the projection period, which will conclude in 2028. The utilisation of items available on the market comes at a hefty expense. The primary cause of this cost increase is the high price of rare-earth magnets, which goes hand in hand with these market motors.
Rare-earth permanent magnets are frequently employed in extremely pricey magnet motors. In APAC nations like China, where ferrite magnets are readily available, they are employed in the manufacturing procedures of affordable motors. In low-frequency applications, such as motor drivers, the current loss in ferrite magnets is not particularly high. Despite the fact that they are pricey, many nations are looking for ways to employ these magnets. They guarantee lower maintenance costs.
Report Coverage
Global Permanent Magnet Motor research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Permanent Magnet Motor report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Permanent Magnet Motor competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Permanent Magnet Motor market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB (Switzerland), General Electric (US), Siemens (Germany), Yaskawa (Japan), Rockwell (US), Nidec (Japan), Ametek (US), Toshiba Corporation (Japan), WEG (Brazil), Emerson (US), Johnson Electric (Hongkong), Allied Motion (US). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Permanent Magnet Motor Market from 2021 to 2030.
- Market Forecast for Permanent Magnet Motor Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Permanent Magnet Motor competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Permanent Magnet Motor
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Permanent Magnet Motor market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Permanent Magnet Motor market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB (Switzerland), General Electric (US), Siemens (Germany), Yaskawa (Japan), Rockwell (US), Nidec (Japan), Ametek (US), Toshiba Corporation (Japan), WEG (Brazil), Emerson (US), Johnson Electric (Hongkong), Allied Motion (US).
Primary Target Market
- Market Players of Permanent Magnet Motor
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Permanent Magnet Motor market based on the below-mentioned segments:
Global Permanent Magnet Motor Market, By Type
PMAC
PMDC
& Brushless DC
Global Permanent Magnet Motor market, By Power Rating
Up to 25kW
25-100kW
100-300kW
300kW & Above
Global Permanent Magnet Motor Market, By End User
Industrial
Commercial
Residential
Healthcare
Global Permanent Magnet Motor market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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