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Permanent Magnet Synchronous Motor Market Size, Share, Industry Trends and Forecast to 2033
This report provides an in-depth analysis of the Permanent Magnet Synchronous Motor market from 2023 to 2033, covering market size, industry dynamics, regional insights, and forecasts to assist stakeholders in strategic planning.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $15.30 Billion |
| CAGR (2023-2033) | 8.2% |
| 2033 Market Size | $34.49 Billion |
| Top Companies | Siemens AG, ABB Ltd., Rockwell Automation Inc., Mitsubishi Electric Corporation, Emerson Electric Co. |
| Last Modified Date | 15 Nov 2024 |
Permanent Magnet Synchronous Motor Market Report (2023 - 2033)
Permanent Magnet Synchronous Motor Market Overview
What is the Market Size & CAGR of Permanent Magnet Synchronous Motor market?
Permanent Magnet Synchronous Motor Industry Analysis
Permanent Magnet Synchronous Motor Market Segmentation and Scope
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Permanent Magnet Synchronous Motor Market Analysis Report by Region
Europe Permanent Magnet Synchronous Motor Market Report:
Europe's market, valued at $3.72 billion in 2023, is anticipated to grow to $8.39 billion by 2033. Stringent regulations promoting energy efficiency and extensive investments in electric mobility are driving this trend.Asia Pacific Permanent Magnet Synchronous Motor Market Report:
The Asia Pacific region held a market value of $3.24 billion in 2023, projected to reach $7.30 billion by 2033. This growth is primarily driven by escalating industrialization, infrastructure development, and increasing demand for energy-efficient solutions.North America Permanent Magnet Synchronous Motor Market Report:
North America accounted for $5.60 billion in 2023, with projections of $12.63 billion by 2033. The presence of key industry players and an increase in electric vehicle production are significant contributors to this growth.South America Permanent Magnet Synchronous Motor Market Report:
In South America, the market is expected to grow from $1.11 billion in 2023 to $2.50 billion by 2033. The expansion is influenced by rising investments in renewable energy projects and a growing manufacturing sector.Middle East & Africa Permanent Magnet Synchronous Motor Market Report:
The Middle East and Africa market is expected to escalate from $1.62 billion in 2023 to $3.66 billion by 2033, with increasing industrial activities and a shift towards automation driving demand.Request a custom research report for industry.
Permanent Magnet Synchronous Motor Market Analysis By Type
Global Permanent Magnet Synchronous Motor Market, By Type Market Analysis (2023 - 2033)
The market is segmented into Surface Mounted PMSMs and Embedded PMSMs. Surface Mounted PMSMs dominate the market with a size of $10.24 billion in 2023, projected to grow to $23.08 billion by 2033, holding 66.92% market share throughout this period. Embedded PMSMs, meanwhile, are anticipated to expand from $3.38 billion to $7.62 billion, capturing 22.09% market share.
Permanent Magnet Synchronous Motor Market Analysis By Application
Global Permanent Magnet Synchronous Motor Market, By Application Market Analysis (2023 - 2033)
In terms of applications, the manufacturing industry leads with a market valuation of $6.73 billion in 2023, expected to reach $15.17 billion by 2033 (43.98% share). The transportation segment follows closely, moving from $3.82 billion to $8.62 billion (24.99% share) over the same period.
Permanent Magnet Synchronous Motor Market Analysis By Technology
Global Permanent Magnet Synchronous Motor Market, By Technology Market Analysis (2023 - 2033)
Technological advancements have led to the development of two main types of PMSM: Sensored and Sensorless. Sensored PMSMs will command a significant market size of $12.93 billion in 2023, growing to $29.15 billion by 2033 (84.52% share). Sensorless motors will also see an increase from $2.37 billion to $5.34 billion, maintaining a 15.48% market share.
Permanent Magnet Synchronous Motor Market Analysis By Configuration
Global Permanent Magnet Synchronous Motor Market, By Configuration Market Analysis (2023 - 2033)
The market for Single Phase Synchronous Motors is represented with an impressive size of $12.93 billion in 2023, likely increasing to $29.15 billion by 2033 (84.52% share). Three Phase Synchronous Motors, meanwhile, will see growth from $2.37 billion to $5.34 billion, keeping a market share of 15.48%.
Permanent Magnet Synchronous Motor Market Analysis By End User
Global Permanent Magnet Synchronous Motor Market, By End-User Industry Market Analysis (2023 - 2033)
Key end-user sectors include industrial automation, automotive, and aerospace. The industrial automation segment will dominate with a current value of $6.73 billion, projected to grow to $15.17 billion (43.98% share). Meanwhile, the automotive sector will increase from $3.82 billion to $8.62 billion, holding 24.99% share by 2033.
Permanent Magnet Synchronous Motor Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Permanent Magnet Synchronous Motor Industry
Siemens AG:
Siemens AG is a global leader in electrical engineering and electronics, particularly recognized for its efficient motor solutions and contributions to the electric mobility sector.ABB Ltd.:
ABB Ltd. offers comprehensive products and services related to power and automation technologies, emphasizing innovation in electric motors and drives.Rockwell Automation Inc.:
Rockwell Automation integrates control and information across industrial operations, focusing on advanced motor technologies and performance improvements.Mitsubishi Electric Corporation:
Mitsubishi Electric is actively involved in the research and development of PMSMs, aiming to deliver energy-efficient and reliable motor solutions.Emerson Electric Co.:
Emerson Electric provides a broad spectrum of automation solutions, including PMSMs, to enhance operational efficiency in various industries.We're grateful to work with incredible clients.
