Europe Permanent Magnet Synchronous Motor Driver Market was valued at USD 1.3 Billion in 2022 and is projected to reach USD 2.3 Billion by 2030, growing at a CAGR of 8.1% from 2024 to 2030.
The Europe Permanent Magnet Synchronous Motor (PMSM) Driver Market is seeing an increasing demand as industries embrace energy-efficient solutions for various applications. These motors are known for their ability to deliver high performance, compact design, and significant energy savings. Industries across Europe, from automotive to robotics, are integrating PMSMs into their products to improve energy efficiency and overall system performance. The requirement for PMSM drivers is largely driven by the need for precision and reliability in applications such as electric vehicles, HVAC systems, industrial automation, and renewable energy systems.
In the automotive industry, the rise of electric vehicles (EVs) is a key factor boosting demand for PMSM drivers. With EVs becoming more popular due to environmental concerns and regulatory requirements for lower emissions, the need for high-efficiency electric motors is critical. PMSM drivers help these vehicles achieve optimal motor control and higher energy utilization, ensuring smoother and more reliable performance.
In industrial applications, the growing need for automation and robotics has accelerated the adoption of PMSM drivers. These drivers are ideal for applications requiring high torque and precision, such as CNC machines, conveyors, and robotic arms. The automotive, manufacturing, and aerospace industries are focusing on improving efficiency and cutting costs, making PMSM drivers a key component in many systems.
Furthermore, renewable energy sectors such as wind and solar are adopting PMSM technology for their motors due to the growing trend of sustainable energy sources. The demand for PMSM drivers is high in wind turbines where energy efficiency, reliability, and reduced maintenance are essential for optimal performance.
As industries continue to shift toward sustainable and energy-efficient technologies, the demand for Permanent Magnet Synchronous Motor drivers in Europe is expected to grow significantly. The integration of PMSMs into various sectors is driving innovations and enhancing the functionality of systems across Europe, making it a critical component for future developments.
The expansion of the PMSM driver market is also linked to other advanced technologies like the "100 Gigabit Fiber Optic Transceiver Market" as both sectors are progressing toward increasing efficiency and performance in their respective fields. Thus, PMSM drivers are not just pivotal in their current applications but also in contributing to a larger ecosystem of technological advancements.
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ABB Group
Siemens AG
Schneider Electric SE
Rockwell Automation
Inc.
Fuji Electric Co.
Ltd.
Nidec Corporation
Danfoss A/S
Yaskawa Electric Corporation
NXP Semiconductors
Parker Hannifin Corporation
Emerson
WEG S.A.
Hitachi
Ltd.
Delta Electronics
Inc.
Zhejiang Founder Motor Co.
Ltd.
Ningbo Physis Technology Co.
Ltd.
Shenzhen Inovance Technology Co.
Ltd.
Qingdao Kekai Electronics Research Institute Co.
Ltd.
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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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 Europe Permanent Magnet Synchronous Motor Driver Market
Interior Permanent Magnet Synchronous Motor (IPMSM)
Surface Mounted Permanent Magnet Synchronous Motor (SPMSM)
Low Voltage (Up to 60V)
Medium Voltage (60V-400V)
High Voltage (Above 400V)
Industrial Automation
Electric Vehicles
Consumer Electronics
Renewable Energy Systems
Other Applications
Sensor-based Control
Sensorless Control
Automotive
Manufacturing
Energy & Power
Consumer Electronics
Aerospace & Defense
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 Europe Permanent Magnet Synchronous Motor Driver 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. Europe Permanent Magnet Synchronous Motor Driver Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Permanent Magnet Synchronous Motor Driver Market, By Type
6. Europe Permanent Magnet Synchronous Motor Driver Market, By Application
7. Europe Permanent Magnet Synchronous Motor Driver Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Permanent Magnet Synchronous Motor Driver Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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