Permanent Magnet Motor Market Forecasts from 2018 to 2023
The report by Knowledge Sourcing Intelligence LLP, titled “Permanent Magnet Motor Market – Forecasts from 2018 to 2023” studies the market status and the forecasts of the market and its various segments from the year 2018 to 2023. This report will assist multiple stakeholders, manufacturers, raw material suppliers and consultants across the supply chain to identify the threats and opportunities of the market. The permanent magnet motor market is expected to grow at a CAGR of 10.47% over the forecasted period of 2018-2023.
A permanent magnet motor is an electric motor which uses permanent magnets rather than in field winding. These motors provide higher efficiency when used in appliances such as electric vehicles. Since these motors perform similarly to a standard motor but are more efficient, they are generally used in windand solar generators for smoother functioning. Permanent magnet motors are also being adopted because they require lower running costs and are not required to be field winding. They do suffer from the problem of getting demagnetized due to overheating or use for longer periods of time.
The permanent magnet motors have seen a rise in demand because of their higher efficiency and output compared to the standard motors. The market will continue to grow on account of increasing demand for electric vehicles and consumer electronics such as electric toys, vacuum cleaners, computer drives and more. Booming demand for renewable energy due to increasing awareness about sustainable development will also result in a rise in demand for permanent magnet motors. However, the high initial setup costs and the shifting from rare metals, used in permanent magnet motors, to cost-effective alternatives will limit the adoption of permanent magnet motors. The Asia Pacific region will see ample growth opportunities during the forecast period on account of budding focus on consumer electronics and the snowballing demand due to the rise in the disposable income.
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This report studies the market structure, forecast, growth opportunities and segregated market information of the permanent magnet motor market.
This report provides the market forecast segmented by the following motor types:
Direct Current Motor
Alternating Current Motor
Hermetic Motor
Forecast segmented by the following Magnet:
Ferrite
Neodymium
Samarium Cobalt
Forecast segmented by the following Industry Verticals:
Consumer Electronic
Manufacturing
Healthcare
Energy
Others
Forecast based on the following Geographies:
North America
South America
Europe
The Middle East and Africa
Asia Pacific
Also, the report focuses on the following key players in the permanent magnet motor market:
Siemens AG
ABB
Rockwell Automation, Inc.
Franklin Electric Co. Inc.
Toshiba Corporation
Allied Motion Technologies Inc.
Autotrol Corporation
Johnson Control
General Electric
Nidec Corporation
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About Us:
Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centring on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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