Permanent Magnet DC Motor Market Overview
The global market for permanent magnet motor is
expected to grow at a moderate 8.70% CAGR during the forecast period ad record
a substantial market valuation, as per the report published by Market Research
Future (MRFR).
Drivers and Restraints
Global permanent magnet motor market is slated to
witness a high growth during the forecast period due to the growing demand for
energy efficient and low-cost maintenance motors. For example, according to
India Brand Equity foundation (IBEF), consumer electrical industry in India is
expected to reach a market value USD 46.54 billion by 2020. This would
positively influence the growth of permanent magnet motor market. Permanent
magnet motors have several advantages such as high power density, high
efficiency, and ease of control. Moreover, there is low mechanical friction
losses owing to the absence of mechanical commutators and brushes. The signficant
advantages of permanent magnet motor is its efficiency, compact size, and no
requirement of cooling fan.
Segmental Analysis
Global Permanent
Magnet DC Motor Market has been segmented based on power rating, type, end-user,
and region.
Based on power rating, the permanent magnet motor market
is classified into 25-100 kW, up to 25 kW, 100-300 kW, and 300 kW & above. The
permanent magnet motor with power range 100-300 kW is poised to hold the maximum
share as these motors find major application in the industrial along with
electronic devices.
Based on end-user, the permanent magnet motor market
is segmented as, commerical & residential and industrial. The Industrial
segment is slated to account for the largest share during the forecast period.
Industrial segment is also estimated to grow at a faster rate during the review
period as permanent magnet motors are an essential part of industries such as
automotive, food & beverage, textile, oil & gas, aerospace, robotics, and
other. These motors also find application in textile machines, industrial
machinery, variable frequency drives (VFDs), compressors, and hoists.
Automotive sector is considered as the most significant sector within
industrial segment which involves the installation of the highest number of
permanent magnet motors.
Regional Analysis
The geographical analysis of the global permanent
magnet DC motor market has been conducted in four major regions, namely, Asia
Pacific, North America, Europe and the rest of the world.
The North America and Europe regions are major
regional markets for permanent magnet motors, owing to the established end use
industries such as manufacturing sector, automotive, among others, which
contribute substantially towards the demand and growth in the permanent magnet
motor market.
Asia-Pacific is poised to hold the largest share for
permanent magnet AC motors (PMAC) owing to major demand coming from industrial
sector. growth in Asia-Pacific is slated to be driven by the increasing focus
on the electronic sector, of which permanent magnet motor is a signifcant part.
The developing countries in the Asia-Pacific region such as India, China, and
Japan are likely to fuel the market for permanent magnet motor due to increasing
demand for energy-efficient motors in these countries. Moreover, nations
such as China and Japan have adopted energy efficiency mandates to save
electricity consumption which would further fuel the market for permanent
magnet motors.
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