Permanent Magnet Motor Market to Grow at 8.87% CAGR to 2023

News provided by

May 29, 2018, 09:00 ET

PUNE, India, May 29, 2018 /PRNewswire/ --

Permanent magnet motor market is projected to reach USD 45.13 billion by 2023, from an estimated USD 29.50 billion in 2018, at a CAGR of 8.87%. Increasing demands for energy-efficient & low-cost maintenance motors have boosted demand for permanent magnet motors. Permanent magnet motor market is also growing at a good pace in countries such as India, Australia, and South Korea because of increasing infrastructure developments.

Browse 65 Market Data Tables and 40 Figures spread through 137 Pages and In-depth TOC on "Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25-100 kW, 100-300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential, and Healthcare), and Region - Global Forecast to 2023" at http://www.reportsnreports.com/reports/1498193-permanent-magnet-motor-market-by-type-pmac-pmdc-and-brushless-dc-power-rating-up-to-25-kw-25-100-kw-100-300-kw-and-300-kw-above-end-user-industrial-commercial-residential-and-healthcare-and-r-st-to-2023.html .

Report defines, describes, and forecasts permanent magnet motor market by type, power rating, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.

"The up to 25 kW segment is expected to grow at the highest CAGR, from 2018 to 2023."

The report segments the permanent magnet motor market, by type, into permanent magnet AC motors, permanent magnet DC motors, and brushless DC motors. The permanent magnet AC motors segment is estimated to lead the permanent magnet motor market in 2018. It is also projected to grow at the fastest rate during the forecast period because of features such as high torque capacity, high-quality magnetic performance, high accelerations, and high withstand overload capacity without the risk of demagnetization of the magnets.

The permanent magnet motor market has been analyzed on the basis of five regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. The market in Asia Pacific is expected to lead the global permanent magnet motor market by 2023.

"The industrial segment is expected to dominate the permanent magnet motor market from 2018 to 2023."

Get Sample Papers on "Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25-100 kW, 100-300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential, and Healthcare), and Region - Global Forecast to 2023" research report at http://www.reportsnreports.com/contacts/requestsample.aspx?name=1498193 .

The key players in the permanent magnet motor market include GE (US), Siemens (Germany), ABB (Switzerland), Toshiba Corporation (Japan), and Emerson (US). Mergers & acquisitions was the most commonly adopted strategy by the top players in the market from 2013 to 2017.

Why Buy this Report?

The report identifies and addresses key markets for permanent magnet motor, which would help suppliers review the growth in the demand for the product.
The report helps solutions providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.

Asia Pacific is expected to be the largest market for permanent magnet motors in 2018, followed by North America and Europe. China and Japan are expected to be the largest markets for permanent magnet motors in the region because of significant investments being made in the industrial sector.

The report's target audience includes:

Permanent magnet motor manufacturing company
Industry and Consulting Firms
Electronics Associations
Government and Industry Associations
Electric motors Associations

The permanent magnet motor market size in this region can be attributed to the increasing focus on the electronics sector, of which permanent magnet motors are a major component. Countries such as China, Japan, and India are the key markets for permanent magnet motors in Asia Pacific.

Order a Copy of "Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25-100 kW, 100-300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential, and Healthcare), and Region - Global Forecast to 2023" research report at http://www.reportsnreports.com/purchase.aspx?name=1498193 .

Increasing demand for energy-efficient & low-cost maintenance motors and increased implementation of permanent magnet motors across industries are the major factors driving the permanent magnet motor market. Shifting from rare earth magnets to cost-effective ferrite permanent magnets is one of the major opportunities for this market.

The distribution of primary interviews is as follows:

By Company Type: Tier 1- 51%, Tier 2- 30%, and Tier 3- 19%
By Designation: C-Level- 31%, D-Level- 43%, Others- 26%
By Region: Asia Pacific- 30%,Europe- 27%, North America- 21%, Middle East- 12%, and South America- 6%, and Africa- 4%

Another research titled the energy efficient motor market is expected to reach USD 41.57 billion by 2023 from USD 30.34 billion in 2018, at a CAGR of 6.5% between 2018 and 2023. The key factors driving the growth of the energy efficient motor market are saving on energy and subsequent cost over traditional motors, increasing support from governments worldwide for the adoption of energy efficient motor, rising need to diminish greenhouse effect, and increasing adoption of energy efficient motors in the industrial sector. The key players operating in the energy efficient motor market are ABB (Switzerland), Siemens (Germany), WEG (Brazil), GE (US), Schneider Electric (France), Nidec (Japan), Rockwell (US), CG (India), Bosch Rexroth (Germany), and Kirloskar Electric (India) now available http://www.reportsnreports.com/contacts/discount.aspx?name=1358566 .

Explore more reports on Manufacturing & Construction Market Research at http://www.reportsnreports.com/market-research/manufacturing/ .

About Us:

ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.

Contact:
Hrishikesh Patwardhan
2^nd Floor, Metropole Building,
Next to Inox Theatre,
Bund Garden Road, Pune - 411001.
Maharashtra, India.
+ 1-888-391-5441
[email protected]