The global permanent magnet motor market is estimated to expand at 8.70% CAGR during the forecast period. Permanent magnet motors have various advantages such as high efficiency, high power density, and ease of control. Moreover, there is low mechanical friction loss due to the absence of mechanical commutators and brushes.

Permanent magnet motor is a synchronous motor that uses magnets which are mounted at the surface of the motor. The main types of permanent magnet motor are permanent magnet AC motors (PMAC), permanent magnet synchronous motors (PMSM), and brushless DC motors. The major advantages of permanent magnet motor is its compact size, efficiency, and no requirement of cooling fan.

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The growing demand for battery monitoring system is attributed to the increasing demand for energy efficient and low-cost maintenance motors. Moreover, increasing implementation of permanent magnet motors across industries is also driving the market for permanent magnet motor. One of the major restraints of the global permanent magnet motor is fluctuating prices of raw material, mainly concentrated in China.

Industry Segmentation

The market for Permanent Magnet Motor Market Report is segmented based on type as permanent magnet AC motors (PMAC), permanent magnet DC motors (PMDC), and brushless DC motors. Permanent magnet AC motor (PMAC) segment dominates the market as these motors many significant features including high-torque capacity, high-quality magnetic performance, and high withstand overload capacity.

All these factors are expected to drive the market for permanent magnet AC motor. Asia-Pacific is expected to hold the largest share for permanent magnet AC motor (PMAC) segment which is mainly driven by increasing focus on the electronic sector, of which permanent magnet motor is an important part.

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Regional Outlook

Asia Pacific held the largest market share of the global permanent magnet motor market in 2017. It is estimated that Asia-Pacific region would also be the fastest growing market during the forecast period, mainly due to increasing investment in industrial and manufacturing sectors, namely, oil & gas, automotive, consumer electronics, packaging, robotics, chemicals, and paper & pulp, among others. Countries such as China and Japan have implemented energy efficiency mandates to save electricity consumption which would further drive the market for permanent magnet motors.

Leading Players

The key players of the global Permanent magnet motor market are 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).