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How Has the Permanent Magnet Motor Market Grown from 2024 to 2025?

In the past few years, the permanent magnet motor market has witnessed robust growth. The market size is predicted to escalate from a value of $45.42 billion in 2024 to an estimated $49.95 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.0%. Several factors have contributed to this growth during the historic period, including a surge in new household formations, increasing incorporation in the automotive sector, enhanced machine efficiency, growing demand for automobiles, and a rising need for energy-efficient motors.

What Growth Rate Is Anticipated for the Permanent Magnet Motor Market in the Coming Years?

The market for permanent magnet motors is anticipated to witness substantial growth in the coming years, escalating to $72.67 billion by 2029, with a compound annual growth rate (CAGR) of 9.8%. The growth during the predicted period is due to factors such as the rise in production expenses, greater motor efficiency driven by permanent magnets, growing demand for permanent magnet motors (PMM), heightened implementation of PMDC engines in electric cars, and a surge in both passenger and commercial vehicle sales. Key trends during the forecast period encompass technological progressions, the adoption of advanced technology solutions, product innovation, enhancements in motor design and production methods, and research and development breakthroughs and investments.

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Who Are the Leading Companies in the Permanent Magnet Motor Market?

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 Are the Key Drivers of the Permanent Magnet Motor Market?

The surge in electric vehicle usage is set to spur the expansion of the permanent magnet motor market in the future. Electric vehicles, cars that run completely or partially on electrical energy stored in rechargeable batteries instead of internal combustion engines, are growing in popularity. The surge in electric vehicles can be attributed to increased awareness of environmental issues, government incentives, improvements in battery technology, and a growing consumer demand for eco-friendly transportation options. Permanent magnet motors, which are crucial to electric vehicles, offer advantages such as high efficiency, smaller size, and less maintenance, contributing to enhanced vehicle performance and efficiency. For instance, the World Economic Forum, a non-governmental organization based in Switzerland, reported in May 2023 that in 2022, electric vehicle (EV) sales skyrocketed by 55%, reaching 10.5 million units, according to the EV Volumes sales database. As a result, the uptake in electric vehicles is fuelling the expansion of the permanent magnet motor market.

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What Are the Key Market Segments in the Permanent Magnet Motor Industry?

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

Which Industry Trends Are Shaping the Future of the Permanent Magnet Motor Market?

Companies at the forefront of the permanent magnet motor market concentrate their efforts on the creation of unique products like brushed permanent magnet DC motors. This not only diversifies their product range but also promotes energy efficiency and provides trustworthy and cost-efficient solutions needed in several sectors such as automotive, industrial automation, and consumer electronics. Brushed permanent magnet DC (PMDC) motors, a kind of electric motor, utilise permanent magnets for the generation of the operational magnetic field, while at the same time, using brushes to conduct electricity to the rotor. For instance, Delta Line, a company based in Switzerland with a specialization in permanent magnet motors, introduced high-torque capacity Brushed Permanent Magnet DC motors, named 42D1, 52D1, and 63D1, in June 2023. These motors can withstand harsh environmental conditions, thanks to their IP54 protection rating and F insulation class, improving their lifespan. They also offer potential for customization, even for smaller batches, with options including distinctive shaft or flange designs and various special windings.

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What Are the Key Regional Markets in the Permanent Magnet Motor Industry?

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.

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This Report Delivers Insight On:

1. How big is the permanent magnet motor market, and how is it changing globally?

2. Who are the major companies in the permanent magnet motor market, and how are they performing?

3. What are the key opportunities and risks in the permanent magnet motor market right now?

4. Which products or customer segments are growing the most in the permanent magnet motor market?

5. What factors are helping or slowing down the growth of the permanent magnet motor market?

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