Permanent Magnet Synchronous Motor Driver Market Revenue was valued at USD 1.2 Billion in 2024 and is estimated to reach USD 2.5 Billion by 2033, growing at a CAGR of 9.1% from 2026 to 2033.
The global Permanent Magnet Synchronous Motor (PMSM) Driver Market was valued at USD 2.45 billion in 2022 and is projected to expand at a Compound Annual Growth Rate (CAGR) of 8.2% from 2023 to 2030. The markets growth is primarily driven by the increasing adoption of PMSMs in various industries such as automotive, industrial automation, and renewable energy. The automotive segment, especially with the rise in electric vehicles, is expected to hold the largest share of the market, contributing significantly to the overall market size. The market is also benefitting from advancements in driver technology, improved energy efficiency, and the growing demand for high performance motors across industrial applications. Regionally, Asia Pacific held the dominant share of the PMSM driver market in 2022, accounting for approximately 38% of the global revenue. This dominance is attributed to the regions strong manufacturing base, the rise in electric vehicle adoption, and the rapid industrialization in countries like China, Japan, and India. North America and Europe are also witnessing significant growth, with a combined market share of around 40%, driven by the increasing demand for electric motors in industrial automation and electric vehicles. The market in these regions is expected to grow steadily at a CAGR of 7.5% and 8.0%, respectively, over the forecast period. Latin America and the Middle East & Africa regions are anticipated to experience slower growth, but still provide substantial opportunities for market expansion in the coming years.
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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.
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 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 Global 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. Global Permanent Magnet Synchronous Motor Driver Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Permanent Magnet Synchronous Motor Driver Market, By Type
6. Global Permanent Magnet Synchronous Motor Driver Market, By Application
7. Global Permanent Magnet Synchronous Motor Driver Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Permanent Magnet Synchronous Motor Driver Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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