How big is the Permanent Magnet Motor Market?

The Permanent Magnet Motor Market size is expected to reach USD 48.34 billion in 2024 and grow at a CAGR of 9.96% to reach USD 77.71 billion by 2029. Read More

What is the current Permanent Magnet Motor Market size?

In 2024, the Permanent Magnet Motor Market size is expected to reach USD 48.34 billion. Read More

Who are the key players in Permanent Magnet Motor Market?

ABB Limited, Rockwell Automation, Siemens AG, Franklin Electric Company Inc. and Allied Motion Technologies Inc. are the major companies operating in the Permanent Magnet Motor Market. Read More

Which is the fastest growing region in Permanent Magnet Motor Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Permanent Magnet Motor Market?

In 2024, the Asia-Pacific accounts for the largest market share in Permanent Magnet Motor Market. Read More

What years does this Permanent Magnet Motor Market cover, and what was the market size in 2023?

In 2023, the Permanent Magnet Motor Market size was estimated at USD 43.53 billion. The report covers the Permanent Magnet Motor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Permanent Magnet Motor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Permanent Magnet Motor Market - Size, Share & Growth

Permanent Magnet Motor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global DC Permanent Magnet Motor Market Report is Segmented by Motor Type (direct Current Motor, Alternating Current Motor), Magnetic Material Type (ferrite, Neodymium, Samarium Cobalt), End-User Vertical (general Industrial, Automotive, Energy, Water, and Wastewater Management, Mining, Oil, and Gas, Aerospace, and Defense), and Geography. The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Permanent Magnet Motor Industry Overview

The Permanent Magnet Motor Market is highly competitive. Market incumbents can gain an advantage and garner a larger market share with innovations and investments in R&D. The intensity of competitive rivalry is expected to increase further, owing to increasing market penetration and the deployment of powerful competitive strategies by market players.

July 2023 - Delta Line announced a new range of brushed permanent magnet DC motors in three sizes 52DI, 42DI, and 63DI. These new motors feature nominal torque up to 0.22Nm in 52mm, 0.06Nm in 42mm, and 0.27Nm in 63mm.
July 2022, Collins Aerospace announced the development of the first working prototype of its 500-kilowatt electric motor for Airlander 10 aircraft in partnership with Hybrid Air Vehicles and the University of Nottingham. Collins wants the 2,000 rpm permanent magnet electric motor to have a power density of 9 kW/kg and an efficiency of 98%. He does this by using a new motor topology and a composite construction.