Permanent Magnet Motor Market Analysis
The
global permanent magnet motor market is estimated to expand at 8.70% CAGR
during the forecast period. Permanent magnet motors have various advantages
such as high efficiency, high power density, and ease of control. Moreover,
there is low mechanical friction loss due to the absence of mechanical
commutators and brushes.
Permanent
magnet motor is a synchronous motor that uses magnets which are mounted at the
surface of the motor. The main types of permanent magnet motor are permanent
magnet AC motors (PMAC), permanent magnet synchronous motors (PMSM), and
brushless DC motors. The major advantages of permanent magnet motor is its
compact size, efficiency, and no requirement of cooling fan. Adapting
to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Permanent Magnet Motor Market
is included in the present report. The growing demand for battery
monitoring system is attributed to the increasing demand for energy efficient
and low-cost maintenance motors. Moreover, increasing implementation of
permanent magnet motors across industries is also driving the market for
permanent magnet motor. One of the major restraints of the global permanent
magnet motor is fluctuating prices of raw material, mainly concentrated in
China.
Industry Segmentation
The
market for permanent magnet motor market is segmented based on type as
permanent magnet AC motors (PMAC), permanent magnet DC motors (PMDC), and
brushless DC motors. Permanent magnet AC motor (PMAC) segment dominates the
market as these motors many significant features including high-torque
capacity, high-quality magnetic performance, and high withstand overload
capacity.
All
these factors are expected to drive the market for permanent magnet AC motor.
Asia-Pacific is expected to hold the largest share for permanent magnet AC
motor (PMAC) segment which is mainly driven by increasing focus on the
electronic sector, of which permanent magnet motor is an important part.
Regional Outlook
Asia
Pacific held the largest market share of the global permanent magnet motor
market in 2017. It is estimated that Asia-Pacific region would also be the
fastest growing market during the forecast period, mainly due to increasing
investment in industrial and manufacturing sectors, namely, oil & gas,
automotive, consumer electronics, packaging, robotics, chemicals, and paper
& pulp, among others. Countries such as China and Japan have implemented
energy efficiency mandates to save electricity consumption which would further
drive the market for permanent magnet motors.
Leading Players
The
key players of the global Permanent magnet motor market are ABB (Switzerland),
General Electric (US), Siemens (Germany), Yaskawa (Japan), Rockwell (US), Nidec
(Japan), Ametek (US), Toshiba Corporation (Japan), WEG (Brazil), Emerson (US),
Johnson Electric (Hongkong), Allied Motion (US).
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NOTE: Our team of researchers are studying
Covid19 and its impact on various industry verticals and wherever required we
will be considering covid19 footprints for a better analysis of markets and
industries. Cordially get in touch for more details.
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