Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25100 kW, 100300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential, and Healthcare), and Region - Global Forecast to 2023
The Permanent Magnet Motor Market is projected to grow from an estimated value at USD 27.15 Billion in 2017 and is projected to grow at a CAGR of 8.87%, during the forecast period, to reach USD 45.13 Billion by 2023. Increasing demand for energy-efficient & low-cost maintenance motors and increased implementation of permanent magnet motors across industries are the major factors driving the market. Shifting from rare earth magnets to cost-effective ferrite permanent magnets is one of the major opportunities for this market.
The years considered for the study are as follows:
- Base year: 2017
- Estimated year: 2018
- Projected year: 2023
- Forecast period: 20182023
The base year for company profiles is 2017. Whenever information was unavailable for the base year, the prior year has been considered.
Objectives of the Study
- To define, describe, and forecast the global permanent magnet motor market on the basis of type, power rating, end-users, and region
- To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
- To forecast the growth of the market with respect to major regions (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
- To profile key players and comprehensively analyze their market ranking and core competencies
- To analyze competitive developments, such as mergers & acquisitions, expansion, new product developments, and contracts & agreements in the field of market
Research Methodology
This research study involved the use of extensive secondary sources, directories, and databases such as Bloomberg Businessweek and Factiva to identify and collect information useful for a technical, market-oriented, and commercial study of the global permanent magnet motor market. The primary sources include industry experts from core and related industries such as commercial and manufacturing & process, preferred suppliers, manufacturers, distributors, technology developers, standards and certification organizations of companies, and organizations related to all the segments of this industrys value chain. The points below explain the research methodology.
- Study of annual revenues and market developments of major players that provide permanent magnet motor
- Analyses of major end-users of permanent magnet motor
- Assessment of future trends and growth of the market
- Assessment of the market on the basis of types of permanent magnet motors
- Study of the contracts & developments related to the market by key players across different regions
- Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chains, and annual revenues of companies providing permanent magnet motor across the globe
After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
Major manufacturers in the permanent magnet motor market include GE (US), Siemens (Germany), ABB (Switzerland), Toshiba Corporation (Japan), and Emerson (US). The manufacturers such as Nidec (Japan), Yaskawa (Japan), and Allied Motion (US) either participate in the supply of raw materials/auxiliary components or directly sell permanent magnet motors through authorized distribution channels. The distributors also provide replacement and maintenance services for motor components and installation of permanent magnet motors.
Target Audience:
The reports target audience includes:
- Permanent magnet motor manufacturing company
- Industry and Consulting Firms
- Electronics Associations
- Government and Industry Associations
- Electric motors Associations
Scope of the Report:
- By Type
- Permanent Magnet Alternate Current Motor (PMAC)
- Permanent Magnet Alternate Direct Motor (PMDC)
- Brushless DC
- By Power Rating
- Up to 25 kW
- 25100 kW
- 100300 kW
- 300 kW & Above
- By End-User
- Industrial
- Commercial & Residential
- Healthcare
- Others
- By Region
- Asia Pacific
- North America
- Europe
- South America
- The Middle East & Africa
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:
Regional Analysis
Further breakdown of region or country-specific analyses
Company Information
Detailed analyses and profiling of additional market players (up to 5)
The global permanent magnet motor market is estimated to be USD 29.50 Billion in 2018 and is projected to grow at a CAGR of 8.87%, from 2018 to 2023, to reach a market size of USD 45.13 Billion by 2023. The global market is driven by factors such as increasing demand for energy-efficient & low-cost maintenance motors. Increased implementation of permanent magnet motors across industries is expected to boost the demand for permanent magnet motors. The growing robotics technology presents a great opportunity for the market because of significant investments being made in it.
The report segments the permanent magnet motor market of permanent magnet motor, by type, into permanent magnet AC motors, permanent magnet DC motors, and brushless DC motors. The permanent magnet AC motors segment is estimated to lead the market in 2018. It is also projected to grow at the fastest rate during the forecast period because of features such as high torque capacity, high-quality magnetic performance, high accelerations, and high withstand overload capacity without the risk of demagnetization of the magnets. In Asia Pacific, the major demand for permanent magnet AC motors is from the industrial sector. This is likely to boost the overall permanent magnet AC motor market.
Based on end-user, the industrial segment accounted for the largest permanent magnet motor market size in 2017. A permanent magnet motor plays a vital role in increasing efficiency, productivity, reliability, and safety in the industrial sector, including different industries such as automotive, textile, paper, oil & gas, steel, and food & beverage, packaging, robotics, and aerospace. These motors are used in industrial machines, textile rewinding machines, and are also used with Variable Frequency Drives (VFDs) in pumps, blowers, fans, compressors, and hoists. The automotive is one of the major industries within the industrial sector, installing the maximum number of permanent magnet motors. All these factors are expected to drive the industrial segment of the market, by end-user.
The permanent magnet motor market has been analyzed on the basis of five regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. The market in Asia Pacific is expected to lead the global market by 2023. The market size in this region can be attributed to the increasing focus on the electronics sector, of which permanent magnet motors are a major component. Countries such as China, Japan, and India are the key markets for permanent magnet motors in Asia Pacific. The growing demand for energy-efficient motors for end-use applications such as electric vehicles, consumer electronics, and automobiles in the region is expected to drive the market in Asia Pacific.
High initial cost of permanent magnet motor has adversely affected the demand for permanent magnet motors. Rare-earth magnets which are commonly used in the permanent magnet motors are expensive. Some of the industrial as well as commercial electronics manufacturers are reluctant to invest in permanent magnet motors. However, this trend is likely to change in the coming years, as permanent magnet motor ensures a reduction in maintenance cost, thereby improving the operations in the industrial as well as commercial sectors, resulting in high productivity.
The key players in the permanent magnet motor market include GE (US), Siemens (Germany), ABB (Switzerland), Toshiba Corporation (Japan), and Emerson (US). Mergers & acquisitions was the most commonly adopted strategy by the top players in the market from 2013 to 2017. It was followed by new product development, and investments & expansions, and contracts & agreements.
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Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
2.4.1 Assumptions
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 30)
4.1 Permanent Magnet Motor Market, By Country
4.2 Market, By Type
4.3 Market, By Power Rating
4.4 Market, By End User
4.5 Market in Asia Pacific
5 Market Overview (Page No. - 33)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Energy Efficient and Low-Cost Maintenance Motors
5.2.1.2 Increased Implementation of Permanent Magnet Motors Across Industries
5.2.2 Restraints
5.2.2.1 High Initial Cost of Permanent Magnet Motor
5.2.2.2 Fluctuating Prices of Raw Material That are Mainly Concentrated in China
5.2.3 Opportunities
5.2.3.1 Shifting From Rare-Earth Magnets to Cost-Effective Ferrite Permanent Magnets
5.2.3.2 Growing Robotics Technology
5.2.4 Challenges
5.2.4.1 Availability of Switched Reluctance Motors and Induction Motors as Substitute Products
5.2.4.2 Availability of Counterfeit Products
5.3 Supply Chain
6 Market, By Type (Page No. - 38)
6.1 Introduction
6.2 Permanent Magnet Alternate Current Motor (PMAC)
6.3 Permanent Magnet Direct Current Motor (PMDC)
6.4 Brushless Dc Motor
7 Market, By Power Rating (Page No. - 43)
7.1 Introduction
7.2 Up to 25 kW
7.3 25100 kW
7.4 100300 kW
7.5 300 kW & Above
8 Market, By End User (Page No. - 48)
8.1 Introduction
8.2 Industrial
8.2.1 Automotive
8.2.2 Textile
8.2.3 Pulp & Paper
8.2.4 Aerospace
8.2.5 Robotics
8.3 Commercial and Residential
8.3.1 Commercial
8.3.1.1 Malls
8.3.1.2 Offices
8.3.1.3 Banks
8.3.2 Residential
8.4 Healthcare
8.5 Others
8.5.1 Transportation
8.5.1.1 Railways
8.5.1.2 Electric Vehicle
8.5.2 Defense
8.5.3 Agriculture
8.5.4 Renewable
9 Regional Analysis (Page No. - 55)
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.2 Japan
9.2.3 India
9.2.4 South Korea
9.2.5 Australia
9.2.6 Malaysia
9.2.7 Rest of Asia Pacific
9.3 North America
9.3.1 US
9.3.2 Canada
9.3.3 Mexico
9.4 Europe
9.4.1 Germany
9.4.2 France
9.4.3 Italy
9.4.4 UK
9.4.5 Spain
9.4.6 Rest of Europe
9.5 South America
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Venezuela
9.5.4 Chile
9.5.5 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 Iran
9.6.5 Nigeria
9.6.6 South Africa
9.6.7 Rest of the Middle East & Africa
10 Competitive Landscape (Page No. - 90)
10.1 Introduction
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Product Launches
10.3.2 Contracts & Agreements
10.3.3 Investments & Expansions
10.3.4 Mergers & Expansions
11 Company Profiles (Page No. - 97)
11.1 Benchmarking
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
11.2 ABB
11.3 GE
11.4 Siemens
11.5 Yaskawa
11.6 Rockwell
11.7 Nidec
11.8 Ametek
11.9 Toshiba Corporation
11.10 Weg
11.11 Emerson
11.12 Johnson Electric
11.13 Allied Motion
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 129)
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details
List of Tables (65 Tables)
Table 1 Global Permanent Magnet Motor Market Snapshot
Table 2 Global Market, By Type, 20162023 (USD Million)
Table 3 Permanent Magnet Ac Motor: Market, By Region, 20162023 (USD Million)
Table 4 Permanent Magnet Dc Motor: Market, By Region, 20162023 (USD Million)
Table 5 Brushless Dc Motor: Market, By Region, 20162023 (USD Million)
Table 6 Global Permanent Magnet Motor Market, By Power Rating, 20162023 (USD Million)
Table 7 Up to 25 kW: Market, By Region, 20162023 (USD Million)
Table 8 25100 kW: Market, By Region, 20162023 (USD Million)
Table 9 100300 kW: Market, By Region, 20162023 (USD Million)
Table 10 300 kW & Above: Market, By Region, 20162023 (USD Million)
Table 11 Permanent Magnet Motor Market, By End User, 20162023 (USD Million)
Table 12 Industrial: Market, By Region, 20162023 (USD Million)
Table 13 Commercial and Residential: Market, By Region, 20162023 (USD Million)
Table 14 Healthcare: Market, By Region, 20162023 (USD Million)
Table 15 Others: Market, By Region, 20162023 (USD Million)
Table 16 Permanent Magnet Motor Market, By Region, 20162023 (USD Million)
Table 17 Asia Pacific: Market, By Type, 20162023 (USD Million)
Table 18 Asia Pacific: Market, By Power Rating, 20162023 (USD Million)
Table 19 Asia Pacific: Market, By End User, 20162023 (USD Million)
Table 20 Asia Pacific: Market, By Country, 20162023 (USD Million)
Table 21 China: Permanent Magnet Motor Market, By End User, 20162023 (USD Million)
Table 22 Japan: Market, By End User, 20162023 (USD Million)
Table 23 India: Market, By End User, 20162023 (USD Million)
Table 24 South Korea: Market, By End User, 20162023 (USD Million)
Table 25 Australia: Market, By End User, 20162023 (USD Million)
Table 26 Malaysia: Market, By End User, 20162023 (USD Million)
Table 27 Rest of Asia Pacific: Market, By End User, 20162023 (USD Million)
Table 28 North America: Market, By Type, 20162023 (USD Million)
Table 29 North America: Market, By Power Rating, 20162023 (USD Million)
Table 30 North America: Market, By End User, 20162023 (USD Million)
Table 31 North America: Market, By Country, 20162023 (USD Million)
Table 32 US: Permanent Magnet Motor Market, By End User, 20162023 (USD Million)
Table 33 Canada: Market, By End User, 20162023 (USD Million)
Table 34 Mexico: Market, By End User, 20162023 (USD Million)
Table 35 Europe: Market, By Type, 20162023 (USD Million)
Table 36 Europe: Market, By Power Rating, 20162023 (USD Million)
Table 37 Europe: Market, By End User, 20162023 (USD Million)
Table 38 Europe: Market, By Country, 20162023 (USD Million)
Table 39 Germany: Market, By End User, 20162023 (USD Million)
Table 40 France: Market, By End User, 20162023 (USD Million)
Table 41 Italy: Market, By End User, 20162023 (USD Million)
Table 42 UK: Market, By End User, 20162023 (USD Million)
Table 43 Spain: Market, By End User, 20162023 (USD Million)
Table 44 Rest of Europe: Market, By End User, 20162023 (USD Million)
Table 45 South America: Permanent Magnet Motor Market, By Type, 20162023 (USD Million)
Table 46 South America: Market, By Power Rating, 20162023 (USD Million)
Table 47 South America: Market, By End User, 20152022 (USD Million)
Table 48 South America: Market, By Country, 20162023 (USD Million)
Table 49 Brazil: Market, By End User, 20162023 (USD Million)
Table 50 Argentina: Market, By End User, 20162023 (USD Million)
Table 51 Venezuela: Market, By End User, 20162023 (USD Million)
Table 52 Chile: Permanent Magnet Motor Market, By End User, 20162023 (USD Million)
Table 53 Rest of South America: Market, By End User, 20162023 (USD Million)
Table 54 Middle East & Africa: Market, By Type, 20162023 (USD Million)
Table 55 Middle East & Africa: Market, By Power Rating, 20162023 (USD Million)
Table 56 Middle East & Africa: Market, By End User, 20162023 (USD Million)
Table 57 Middle East & Africa: Market, By Country, 20162023 (USD Million)
Table 58 Saudi Arabia: Market, By End User, 20162023 (USD Million)
Table 59 UAE: Permanent Magnet Motor Market, By End User, 20162023 (USD Million)
Table 60 Qatar: Market, By End User, 20162023 (USD Million)
Table 61 Iran: Market, By End User, 20162023 (USD Million)
Table 62 Nigeria: Market, By End User, 20162023 (USD Million)
Table 63 South Africa: Market, By End User, 20162023 (USD Million)
Table 64 Rest of the Middle East & Africa: Market, By End User, 20162023 (USD Million)
Table 65 Developments By Key Players in the Market, 20132017
List of Figures (40 Figures)
Figure 1 Permanent Magnet Motors Market: Research Design
Figure 2 Breakdown of Primary Interviews
Figure 3 Permanent Magnet Motor Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Permanent Magnet Motor Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Asia Pacific Held Largest Share of the Permanent Magnet Motors Market in 2017
Figure 7 Permanent Magnet Alternate Current Motor (PMAC) Segment Expected to Dominate Permanent Magnet Motors Market During Forecast Period
Figure 8 Industrial Segment Dominated Permanent Magnet Motors Market in 2017
Figure 9 Up to 25 kW Power Rating Segment Expected to Dominate Permanent Magnet Motor Market From 2018 to 2023
Figure 10 Attractive Opportunities in Permanent Magnet Motors Market, 20182023
Figure 11 Permanent Magnet Motor Market in China to Grow at the Highest CAGR During Forecast Period
Figure 12 Permanent Magnet Alternate Current Motor (PMAC) Segment Expected to Grow at Highest CAGR During Forecast Period
Figure 13 Up to 25 kW Power Rating Segment Expected to Hold Largest Size of Permanent Magnet Motors Market During Forecast Period
Figure 14 Industrial Segment to Dominate Permanent Magnet Motor Market During Forecast Period
Figure 15 China Accounted for Largest Share of Permanent Magnet Motors Market in Asia Pacific in 2017
Figure 16 Drivers, Restraints, Opportunities, and Challenges
Figure 17 Worldwide Automobile Production, Million Units, 20112017
Figure 18 Supply Chain Analysis: Permanent Magnet Motors Market
Figure 19 Permanent Magnet Alternate Current Motor (PMAC) Segment Expected to Dominate Permanent Magnet Motors Market During Forecast Period
Figure 20 Asia Pacific Expected to Hold Largest Size of Permanent Magnet Motors Market for Permanent Magnet Ac Motor Segment, 20182023
Figure 21 Up to 25 kW Expected to Hold Largest Size of Permanent Magnet Motors Market During Forecast Period
Figure 22 Industrial Expected to Dominate Permanent Magnet Motors Market During Forecast Period
Figure 23 Asia Pacific Expected to Grow at Highest CAGR During Forecast Period
Figure 24 Asia Pacific Accounted for the Largest Share Within Permanent Magnet Motors Market in 2017
Figure 25 Asia Pacific: Snapshot of Permanent Magnet Motors Market
Figure 26 North America: Snapshot of Permanent Magnet Motor Market
Figure 27 Key Developments in Permanent Magnet Motors Market During 20132017
Figure 28 Permanent Magnet Motor Market Share Analysis, 2017
Figure 29 ABB: Company Snapshot
Figure 30 GE: Company Snapshot
Figure 31 Siemens: Company Snapshot
Figure 32 Yaskawa: Company Snapshot
Figure 33 Rockwell: Company Snapshot
Figure 34 Nidec: Company Snapshot
Figure 35 Ametek: Company Snapshot
Figure 36 Toshiba Corporation: Company Snapshot
Figure 37 Weg: Company Snapshot
Figure 38 Emerson: Company Snapshot
Figure 39 Johnson Electric: Company Snapshot
Figure 40 Allied Motion: Company Snapshot
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