Permanent Magnet Motor Market

A permanent magnet motor (PM motor) is an electric motor that generates power by using a permanent magnet. PM motors are often used in industrial and commercial applications because of their high energy and torque ratings, which make them ideal for moving heavy loads.

Because of the rising demand for electric vehicles and innovative grid applications, the permanent magnet motor market is rapidly expanding in various regions. Because of increased investment in electric cars in this region, North America is expected to account for the largest market share during the forecast period.

This report categorizes the permanent magnet motor market by type, application, and region. By type, the report covers stator-rotor systems (SRSs), permanent magnet synchronous motors (PMSMs), and permanent magnet synchronous generators (PMSGs). By application, the report covers military aircraft, marine vessels, electric vehicles, and industrial applications. The report further segments the permanent magnet motor market by region: North America (NA), Europe (EU), Asia Pacific (APAC), and the Rest of the World (RoW).

High manufacturing costs and stringent environmental regulations are two significant challenges confronting the permanent magnet motor market. The market is also expecting an increase in demand for electric vehicles and innovative grid applications, which will drive market growth.

Some major players in this market are ABB Ltd., Alstom SA, Brush Electric Co., Inc., General Electric Company, Hitachi Limited, Mitsubishi Heavy Industries, Nippon Sharyo Corporation, Siemens AG, UTC Power Corporation, and Valeo SA.