Global Permanent Magnet Motor Market 2018-2023: Shifting From Rare-Earth Magnets to Cost-Effective Ferrite Permanent Magnets
DUBLIN, May 16, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The global permanent magnet motor market is estimated to be USD 29.50 Billion in 2018 and is projected to grow at a CAGR of 8.87%, from 2018 to 2023, to reach a market size of USD 45.13 Billion by 2023.
The permanent magnet motor market is driven by factors such as increasing demand for energy-efficient & low-cost maintenance motors. Increased implementation of permanent magnet motors across industries is expected to boost the demand for permanent magnet motors. The growing robotics technology presents a great opportunity for the permanent magnet motor market because of significant investments being made in it.
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. In Asia Pacific, the major demand for permanent magnet AC motors is from the industrial sector. This is likely to boost the overall permanent magnet AC motor market.
Based on end-user, the industrial segment accounted for the largest market size in 2017. A permanent magnet motor plays a vital role in increasing efficiency, productivity, reliability, and safety in the industrial sector, including different industries such as automotive, textile, paper, oil & gas, steel, and food & beverage, packaging, robotics, and aerospace. These motors are used in industrial machines, textile rewinding machines, and are also used with Variable Frequency Drives (VFDs) in pumps, blowers, fans, compressors, and hoists. The automotive is one of the major industries within the industrial sector, installing the maximum number of permanent magnet motors. All these factors are expected to drive the industrial segment of the permanent magnet motor market, by end-user.
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 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. The growing demand for energy-efficient motors for end-use applications such as electric vehicles, consumer electronics, and automobiles in the region is expected to drive the market in Asia Pacific.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Permanent Magnet Motor Market, By Country
4.2 Permanent Magnet Motor Market, By Type
4.3 Permanent Magnet Motor Market, By Power Rating
4.4 Permanent Magnet Motor Market, By End User
4.5 Permanent Magnet Motor Market in Asia Pacific
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Energy Efficient and Low-Cost Maintenance Motors
5.2.1.2 Increased Implementation of Permanent Magnet Motors Across Industries
5.2.2 Restraints
5.2.2.1 High Initial Cost of Permanent Magnet Motor
5.2.2.2 Fluctuating Prices of Raw Material That are Mainly Concentrated in China
5.2.3 Opportunities
5.2.3.1 Shifting From Rare-Earth Magnets to Cost-Effective Ferrite Permanent Magnets
5.2.3.2 Growing Robotics Technology
5.2.4 Challenges
5.2.4.1 Availability of Switched Reluctance Motors and Induction Motors as Substitute Products
5.2.4.2 Availability of Counterfeit Products
5.3 Supply Chain
6 Permanent Magnet Motor Market, By Type
6.1 Introduction
6.2 Permanent Magnet Alternate Current Motor (PMAC)
6.3 Permanent Magnet Direct Current Motor (PMDC)
6.4 Brushless Dc Motor
7 Permanent Magnet Motor Market, By Power Rating
7.1 Introduction
7.2 Up to 25 kW
7.3 25-100 kW
7.4 100-300 kW
7.5 300 kW & Above
8 Permanent Magnet Motor Market, By End User
8.1 Introduction
8.2 Industrial
8.2.1 Automotive
8.2.2 Textile
8.2.3 Pulp & Paper
8.2.4 Aerospace
8.2.5 Robotics
8.3 Commercial and Residential
8.3.1 Commercial
8.3.1.1 Malls
8.3.1.2 Offices
8.3.1.3 Banks
8.3.2 Residential
8.4 Healthcare
8.5 Others
8.5.1 Transportation
8.5.1.1 Railways
8.5.1.2 Electric Vehicle
8.5.2 Defense
8.5.3 Agriculture
8.5.4 Renewable
9 Regional Analysis
10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
10.3 Competitive Scenario
11 Company Profiles
11.1 Benchmarking
11.2 ABB
11.3 GE
11.4 Siemens
11.5 Yaskawa
11.6 Rockwell
11.7 Nidec
11.8 Ametek
11.9 Toshiba Corporation
11.10 Weg
11.11 Emerson
11.12 Johnson Electric
11.13 Allied Motion
For more information about this report visit https://www.researchandmarkets.com/research/gq7q8q/global_permanent?w=5
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article