Top Permanent Magnet Motor Companies

The global permanent magnet motor market is anticipated to grow at a CAGR of 9.8% during the forecast period, from an estimated USD 58.68 billion in 2025 to USD 93.75 billion in 2030. The growth of the permanent magnet motors market is driven by the increasing demand for energy-efficient and high-performance motor solutions for various applications. These motors are more resilient in torque density, much more efficient, and smaller than conventional induction motors, so they are suitable for applications such as electric vehicles, environmental induction motors, industrial automation, HVAC, and robotics. Adopting new sustainable technologies and tight energy conservation laws has accelerated the movement toward technologies that curtail energy consumption and carbon emissions. Permanent magnet motors offer significant performance and energy efficiency advantages, making them widely used in electric vehicle drivetrains.

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The permanent magnet motor market is characterized by a mix of large international players with operational presence worldwide and local players commanding a strong supply network in the domestic market. Leading players in the permanent magnet motor market include ABB (Switzerland), Siemens (Germany), NIDEC (Japan), Wolong Electric (China), and WEG (Brazil). These companies maintain their competitive edge through intense research and development capabilities, a diversified product line, and established distribution systems. By promoting and marketing energy efficiency, compact design, and smart technologies, these companies have been cohesive with the global perspective toward sustainability and electrification, accelerating the growth of the market.

ABB (Switzerland) is a global leader offering various products, systems, and services in the utilities, infrastructure, and transportation industries. The company operates through four major divisions: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. ABB offers a complete portfolio in the Motion segment, including electric motors, generators, drives, and services. This segment is critical, constituting the greater share of ABB's revenues. The Motion business is involved with powertrain solutions and transmission products for automation needs in transportation, discrete manufacturing, and process industries. The Motion business serves a broad customer base with a complete range of motors, from standard to highly customized motor designs, including large AC synchronous motors and high-voltage induction motors. ABB has a strong presence in over 100 countries, and it is supported by approximately 300 consolidated operating and holding subsidiaries.

Siemens (Germany) is a technology company focused on electrification, automation, and digitalization, and it works in numerous sectors. The company produces generators, motors, transformers, control apparatus, general-purpose machinery, and advanced signaling and control equipment for road and rail traffic. Siemens operates through five business units: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Portfolio Companies, delivering integrated offerings focused on discrete and process automation, smart energy distribution, intelligent transportation, and healthcare technology. The Digital Industries segment is the dominant growth segment for the company, with diverse industrial automation products, software, and system solutions that support comprehensive digital transformation for the manufacturing and process sectors. Siemens is committed to innovation and sustainability, growing its global reach to almost 200 countries and having a provincial presence in regional manufacturing, research and development, and service operations.

Market Ranking

The permanent magnet motor market is moderately consolidated, with the top five players—Wolong, ABB, Siemens, WEG, and NIDEC CORPORATION. Wolong and ABB are among the leading companies, and they are known for their strong product portfolios in energy-efficient and high-performance motors. Siemens brings advanced automation and control solutions, contributing significantly to the industrial application segment. Toshiba has a solid presence in heavy-duty and HVAC applications, while Nidec is widely recognized for its motors used in electric vehicles and consumer appliances. The rest of the market remains highly fragmented, with a mix of regional manufacturers and emerging players across Asia Pacific, Europe, and North America. The growing need for compact, efficient motors across sectors such as automotive, industrial automation, and home appliances shapes market dynamics. Leading players invest in innovation, manufacturing capabilities, and global expansion to stay competitive in this rapidly evolving industry.

Related Reports:

Permanent Magnet Motor Market by Type (PMAC, PMDC, Brushless DC Motors), Power Rating (Up to 25 kW, 25–100 kW, 100–300 kW, 300 kW and Above), End User (Industrial, Commercial and Residential, and Others), and Region - Global Forecast to 2030

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