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. The COVID-19
Analysis of Permanent Magnet Motor Market Share is enduring an exacting
period with its robust growth coming to an abrupt halt in light of the COVID-19
pandemic.
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.
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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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