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 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).
Scope of the Report
This research report provides insights
into various levels of analysis, such as industry analysis and market share
analysis for the leading industry competitors, along with their profiles. It
also helps in studying the target segments by providing views on the emerging
& high-growth segments. The market data comprises the basic assessment of
the competitive scenarios and strategies in the global permanent magnet motors
market, including high-growth regions and/or countries, and political and
economic environments. The project report further provides both – historical
market values and pricing & cost analysis
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