Permanent Magnet Motors

Global Permanent Magnet Motors Market to Reach US$86.1 Billion by 2030

The global market for Permanent Magnet Motors estimated at US$51.1 Billion in the year 2024, is expected to reach US$86.1 Billion by 2030, growing at a CAGR of 9.1% over the analysis period 2024-2030. Alternate Current Motors, one of the segments analyzed in the report, is expected to record a 10.4% CAGR and reach US$42.7 Billion by the end of the analysis period. Growth in the Direct Current Motors segment is estimated at 8.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$8.3 Billion While China is Forecast to Grow at 10.6% CAGR

The Permanent Magnet Motors market in the U.S. is estimated at US$8.3 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.4 Billion by the year 2030 trailing a CAGR of 10.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.3% and 7.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.0% CAGR.

Global Permanent Magnet Motors Market - Key Trends & Drivers Summarized

Permanent magnet motors (PMMs) are electric motors that use permanent magnets to generate a magnetic field, eliminating the need for external excitation and enhancing efficiency. These motors are known for their high power density, excellent performance, and energy efficiency, making them suitable for a wide range of applications. PMMs are used in various industries, including automotive, aerospace, industrial automation, consumer electronics, and renewable energy. They are commonly found in applications such as electric vehicles (EVs), robotics, HVAC systems, wind turbines, and household appliances. The advantages of PMMs, such as lower maintenance requirements, higher torque, and better thermal performance, contribute to their growing popularity.

The development and adoption of permanent magnet motors have been significantly influenced by advancements in materials science and motor design. The use of rare-earth magnets, such as neodymium and samarium-cobalt, has enabled the production of compact and powerful motors with superior performance characteristics. Advances in motor control technologies, including sophisticated algorithms and digital controls, have further enhanced the efficiency and precision of PMMs. The push towards energy-efficient solutions and the transition to electric mobility have driven significant investments in PMM technology. Additionally, the integration of PMMs with renewable energy systems, such as wind and solar power, supports the development of sustainable and high-performance energy solutions.

The growth in the permanent magnet motor market is driven by several factors. Firstly, the increasing adoption of electric vehicles and the need for high-efficiency motors in automotive applications are major drivers of market growth. Secondly, the rising demand for energy-efficient solutions in industrial automation and consumer electronics is boosting the adoption of PMMs. Thirdly, advancements in materials and manufacturing technologies are enhancing the performance and reducing the costs of permanent magnet motors. Additionally, the expansion of renewable energy installations, such as wind and solar power, is driving the demand for PMMs in energy generation and storage applications. Lastly, government regulations and incentives promoting energy efficiency and green technologies are supporting the growth of the PMM market, ensuring a sustainable and energy-efficient future.

SCOPE OF STUDY:

The report analyzes the Permanent Magnet Motors market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Alternate Current Motors, Direct Current Motors, Brushless DC Motors); End-Use (Industrial, Commercial & Residential, Healthcare, Other End-Uses)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 138 Featured) -

• ABB Ltd.
• Allied Motion Technologies Inc.
• AMETEK MAE
• Autotrol Corporation
• Bonfiglioli Italia S.P.A.
• Bühler Motor Group
• Emerson Electric Co.
• Franklin Electric
• Johnson Electric Holdings Limited
• Nidec Corporation
• Rockwell Automation, Inc.
• Siemens AG
• Toshiba International Corporation
• WEG S.A.
• Yaskawa Electric Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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