The global market for Permanent Magnet Motors was valued at US$51.1 Billion in 2024 and is projected to reach US$86.1 Billion by 2030, growing at a CAGR of 9.1% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The development and adoption of permanent magnet motors have been significantly influenced by advancements in materials science and motor design. The use of rare-earth magnets, such as neodymium and samarium-cobalt, has enabled the production of compact and powerful motors with superior performance characteristics. Advances in motor control technologies, including sophisticated algorithms and digital controls, have further enhanced the efficiency and precision of PMMs. The push towards energy-efficient solutions and the transition to electric mobility have driven significant investments in PMM technology. Additionally, the integration of PMMs with renewable energy systems, such as wind and solar power, supports the development of sustainable and high-performance energy solutions.
The growth in the permanent magnet motor market is driven by several factors. Firstly, the increasing adoption of electric vehicles and the need for high-efficiency motors in automotive applications are major drivers of market growth. Secondly, the rising demand for energy-efficient solutions in industrial automation and consumer electronics is boosting the adoption of PMMs. Thirdly, advancements in materials and manufacturing technologies are enhancing the performance and reducing the costs of permanent magnet motors. Additionally, the expansion of renewable energy installations, such as wind and solar power, is driving the demand for PMMs in energy generation and storage applications. Lastly, government regulations and incentives promoting energy efficiency and green technologies are supporting the growth of the PMM market, ensuring a sustainable and energy-efficient future.
Global Permanent Magnet Motors Market - Key Trends & Drivers Summarized
Permanent magnet motors (PMMs) are electric motors that use permanent magnets to generate a magnetic field, eliminating the need for external excitation and enhancing efficiency. These motors are known for their high power density, excellent performance, and energy efficiency, making them suitable for a wide range of applications. PMMs are used in various industries, including automotive, aerospace, industrial automation, consumer electronics, and renewable energy. They are commonly found in applications such as electric vehicles (EVs), robotics, HVAC systems, wind turbines, and household appliances. The advantages of PMMs, such as lower maintenance requirements, higher torque, and better thermal performance, contribute to their growing popularity.The development and adoption of permanent magnet motors have been significantly influenced by advancements in materials science and motor design. The use of rare-earth magnets, such as neodymium and samarium-cobalt, has enabled the production of compact and powerful motors with superior performance characteristics. Advances in motor control technologies, including sophisticated algorithms and digital controls, have further enhanced the efficiency and precision of PMMs. The push towards energy-efficient solutions and the transition to electric mobility have driven significant investments in PMM technology. Additionally, the integration of PMMs with renewable energy systems, such as wind and solar power, supports the development of sustainable and high-performance energy solutions.
The growth in the permanent magnet motor market is driven by several factors. Firstly, the increasing adoption of electric vehicles and the need for high-efficiency motors in automotive applications are major drivers of market growth. Secondly, the rising demand for energy-efficient solutions in industrial automation and consumer electronics is boosting the adoption of PMMs. Thirdly, advancements in materials and manufacturing technologies are enhancing the performance and reducing the costs of permanent magnet motors. Additionally, the expansion of renewable energy installations, such as wind and solar power, is driving the demand for PMMs in energy generation and storage applications. Lastly, government regulations and incentives promoting energy efficiency and green technologies are supporting the growth of the PMM market, ensuring a sustainable and energy-efficient future.
Scope of the Study
The report analyzes the Permanent Magnet Motors market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments:
Type (Alternate Current Motors, Direct Current Motors, Brushless DC Motors); End-Use (Industrial, Commercial & Residential, Healthcare, Other End-Uses).Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Alternate Current Motors segment, which is expected to reach US$42.7 Billion by 2030 with a CAGR of a 10.4%. The Direct Current Motors segment is also set to grow at 8.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $8.3 Billion in 2024, and China, forecasted to grow at an impressive 10.6% CAGR to reach $22.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Ltd., Allied Motion Technologies Inc., AMETEK MAE, Autotrol Corporation, Bonfiglioli Italia S.P.A. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Permanent Magnet Motors Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Permanent Magnet Motors Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Permanent Magnet Motors Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 138 major companies featured in this Permanent Magnet Motors market report include:
- ABB Ltd.
- Allied Motion Technologies Inc.
- AMETEK MAE
- Autotrol Corporation
- Bonfiglioli Italia S.P.A.
- Bühler Motor Group
- Emerson Electric Co.
- Franklin Electric
- Johnson Electric Holdings Limited
- Nidec Corporation
- Rockwell Automation, Inc.
- Siemens AG
- Toshiba International Corporation
- WEG S.A.
- Yaskawa Electric Corporation
Table of Contents
I. METHODOLOGYMII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAFRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPEAUSTRALIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
ASIA-PACIFIC
INDIA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB Ltd.
- Allied Motion Technologies Inc.
- AMETEK MAE
- Autotrol Corporation
- Bonfiglioli Italia S.P.A.
- Bühler Motor Group
- Emerson Electric Co.
- Franklin Electric
- Johnson Electric Holdings Limited
- Nidec Corporation
- Rockwell Automation, Inc.
- Siemens AG
- Toshiba International Corporation
- WEG S.A.
- Yaskawa Electric Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 577 |
| Published | March 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 51.1 Billion |
| Forecasted Market Value ( USD | $ 86.1 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
