Permanent Magnet Electric Motor Market size is estimated to be USD 23.0 Billion in 2024 and is expected to reach USD 36.2 Billion by 2033 at a CAGR of 5.4% from 2026 to 2033.
In 2022, the global permanent magnet electric motor market was valued at approximately USD 43 billion, with a projected compound annual growth rate (CAGR) of around 10% from 2023 to 2035. The Asia Pacific region led the market, driven by the increasing demand for electric vehicles, wind turbines, and industrial machinery. China was the largest contributor in this region, followed by India and Japan. North America held the second largest market share, propelled by the growing adoption of electric vehicles and industrial automation, with the United States being the primary market.Europe emerged as the fastest growing region, attributed to the shift towards electric vehicles and wind power installations. The industrial sector dominated the market in India, with significant applications in automation and robotics. Opportunities in the market are expanding due to technological advancements, increasing demand for energy efficient solutions, and supportive government policies promoting sustainable practices.
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ABB
Siemens
Rockwell Automation
Nidec Corporation
Johnson Electric
Wolong Electric
WEG
Allied Motion
AMETEK
Toshiba
Regal Beloit
Yaskawa
Liebherr
Faulhaber
TECO
Dumore
Kolmorgen
Electrocraft
Cartermotor Company
Mark Elektriks
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Permanent Magnet Electric Motor Market
Automotive
Aerospace
Industrial Automation
Consumer Electronics
Healthcare Equipment
Renewable Energy
Brushless DC Motors (BLDC)
Permanent Magnet Synchronous Motors (PMSM)
Step Motors
Switched Reluctance Motors
Electric Vehicles
Robotics
Pumps and Compressors
Conveyors
Power Tools
Fans and Blowers
Embedded Control Systems
Variable Frequency Drive (VFD) Technologies
Sensorless Control Techniques
Intelligent Motor Drives
Small Size Motors
Medium Size Motors
Large Size Motors
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Permanent Magnet Electric Motor Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Permanent Magnet Electric Motor Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Permanent Magnet Electric Motor Market, By Type
6. Global Permanent Magnet Electric Motor Market, By Application
7. Global Permanent Magnet Electric Motor Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Permanent Magnet Electric Motor Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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