Learn about the global permanent magnet synchronous motor (PMSM) market through The Business Research Company, which provides information on PMSM market size, PMSM market drivers and restraints, PMSM market players, the COVID-19 impact on the PMSM market, and more.

The global PMSM market size is expected to grow from $20.73 billion in 2021 to $22.87 billion in 2022 at a compound annual growth rate (CAGR) of 10.33%. The growth in the market is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global PMSM market size is expected to reach $34.68 billion in 2026 at a CAGR of 10.96%.

The emergence of green vehicles is significantly contributing to the growth of the PMSM market.

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The PMSM market consists of sales of permanent magnet synchronous motors by entities (organizations, sole traders, and partnerships) that are used for high-efficiency and high-performance motor drives. The permanent magnet synchronous motor refers to an AC synchronous motor for which field excitation is provided by permanent magnets and has a sinusoidal back EMF waveform. PMSM can generate torque at zero speed, but it requires a digitally controlled inverter for operations with permanent magnets.

Global PMSM Market Segments Include:
By Type: Surface, Interior

By Capacity: 375-450 kW, 450-600 kW, Above 600 kW

By Voltage Range: Above 60 V, 41 V-60 V, 31 V-40 V, 21 V-30 V, 10 V-20 V, 9 V and below

By Application: Automation, Consumer Electronics, Residential and Commercial, Automotive and Transportation, Lab Equipment, Medical, Military and Aerospace

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific was the largest region in the permanent magnet synchronous motors market in 2021 and is also expected to be the fastest-growing region in the global PMSM market during the forecast period.

Technological advancements are the key trend being followed by the companies operating in the permanent magnet synchronous motor market. The rapid advancement of permanent magnet (PM) manufacturing technologies has significantly enhanced the efficiency and output power of PM synchronous machines (PMSMs), prompting the use of direct-drive-type high-speed PMSMs rather than traditional mechanical gear transmission systems in a number of industrial fields.

TBRC’s PMSM market report covers:

Major Market Players: Siemens AG, Mitsubishi Electric Corporation, Toshiba Corp., Hitachi, ABB, Bosch, MEIDENSHA, CONTINENTAL, ALSTOM, BROAD-OCEAN, XIZI FORVORDA, DRS Technologies, Emerson, Johnson Electric Holdings Limited, Leonardo DRS, and Nidec Motor Corporation.

Regions: Asia-, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Pacific Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The  Permanent Magnet Synchronous Motor (PMSM) Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides PMSM market overviews, analyzes and forecasts market size, share, PMSM market players, PMSM market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s PMSM market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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