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Permanent Magnet Motor Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Permanent Magnet Motor market from 2023 to 2033, addressing market size, segmentation, regional insights, industry analysis, key players, and future trends pertinent to stakeholders and industry participants.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $10.50 Billion |
| CAGR (2023-2033) | 6.3% |
| 2033 Market Size | $19.65 Billion |
| Top Companies | Siemens AG, ABB Group, Nidec Corporation, Rockwell Automation, Inc., General Electric |
| Last Modified Date | 15 Nov 2024 |
Permanent Magnet Motor Market Report (2023 - 2033)
Permanent Magnet Motor Market Overview
What is the Market Size & CAGR of Permanent Magnet Motor market in 2023?
Permanent Magnet Motor Industry Analysis
Permanent Magnet Motor Market Segmentation and Scope
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Permanent Magnet Motor Market Analysis Report by Region
Europe Permanent Magnet Motor Market Report:
The European market, valued at $2.90 billion in 2023, is predicted to grow to $5.43 billion by 2033. Europe's stringent regulations towards energy efficiency and the promotion of electric mobility initiatives significantly contribute to this growth trajectory.Asia Pacific Permanent Magnet Motor Market Report:
The Asia Pacific region holds a substantial share of the Permanent Magnet Motor market, driven by rapid industrialization, particularly in countries like China and India. The market size in 2023 stands at $2.21 billion, with expectations to grow to $4.14 billion by 2033, reflecting a robust demand from various sectors including manufacturing and renewable energy.North America Permanent Magnet Motor Market Report:
North America accounts for one of the largest markets for Permanent Magnet Motors, with a value of $3.79 billion in 2023, expected to reach $7.08 billion by 2033. The region's growth is driven by advanced manufacturing practices and a significant push towards electric vehicle adoption.South America Permanent Magnet Motor Market Report:
The South American permanent magnet motor market, valued at $1.03 billion in 2023, is projected to escalate to $1.93 billion by 2033. Growth is primarily fueled by increasing infrastructural developments and a burgeoning focus on sustainability that encourages the adoption of efficient motor technologies.Middle East & Africa Permanent Magnet Motor Market Report:
In the Middle East and Africa, the market size for Permanent Magnet Motors is relatively smaller, at $0.57 billion in 2023, but is anticipated to grow to $1.06 billion by 2033. This growth is attributed to ongoing investments in infrastructure and necessary electrification projects.Request a custom research report for industry.
Permanent Magnet Motor Market Analysis By Type
Global Permanent Magnet Motor Market, By Type Market Analysis (2023 - 2033)
The market comprises Brushless Permanent Magnet Motors, representing a market size of $9.24 billion in 2023 and expected to reach $17.28 billion by 2033, holding an impressive market share of 87.96%. In contrast, Brushed Permanent Magnet Motors currently value at $1.26 billion in 2023, growing to $2.37 billion by 2033 with a consistent market share of 12.04%.
Permanent Magnet Motor Market Analysis By Application
Global Permanent Magnet Motor Market, By Application Market Analysis (2023 - 2033)
Major applications of PMMs include Manufacturing (valued at $4.76 billion in 2023), Oil and Gas ($2.11 billion), Mining ($1.26 billion), and Automotive Applications ($2.11 billion). Each sector displays distinct growth patterns, with Manufacturing expected to remain a dominant sector throughout the forecast period.
Permanent Magnet Motor Market Analysis By Motor Size
Global Permanent Magnet Motor Market, By Motor Size Market Analysis (2023 - 2033)
The market is segmented into Small Motors (up to 5 HP), Medium Motors (5 HP to 50 HP), and Large Motors (above 50 HP). Small Motors dominate the market, with a size of $6.73 billion in 2023, projected to reach $12.58 billion by 2033. Medium Motors are expected to grow from $2.17 billion to $4.06 billion, while Large Motors are forecasted to expand from $1.60 billion to $3.00 billion.
Permanent Magnet Motor Market Analysis By End User
Global Permanent Magnet Motor Market, By End-User Industry Market Analysis (2023 - 2033)
Key end-users of PMMs include Industrial Applications ($4.76 billion in 2023), Automotive Applications ($2.11 billion), Consumer Appliances ($1.26 billion), and Renewable Energy Systems ($1.19 billion). Industrial Applications have the largest share and are poised for sustained growth due to increased automation.
Permanent Magnet Motor Market Analysis By Sales Channel
Global Permanent Magnet Motor Market, By Sales Channel Market Analysis (2023 - 2033)
Sales channels include Direct Sales, Distributors, and Online Retail. Direct Sales dominate with a market size of $6.73 billion in 2023, projected to reach $12.58 billion by 2033, constituting 64.05% of the market share, while Online Retail and Distributor channels also show potential growth across the forecast period.
Permanent Magnet Motor Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Permanent Magnet Motor Industry
Siemens AG:
Siemens is a global leader in electrical engineering and electronics, renowned for its advanced motor technologies and sustainable solutions within the PMM segment.ABB Group:
ABB Group is a pioneering technology leader, providing smart solutions and services across various industries, including electric motors and drives for enhanced energy efficiency.Nidec Corporation:
Nidec specializes in electric motors, producing a diverse range of PMMs tailored to automotive, manufacturing, and consumer applications.Rockwell Automation, Inc.:
Rockwell Automation focuses on industrial automation solutions and services, delivering innovative PMM solutions to enhance operational efficiency.General Electric:
General Electric is a multinational conglomerate with a vast portfolio in power generation and motors, contributing significantly to the PMM market.We're grateful to work with incredible clients.
