Permanent Magnet Motor Market Report 2026

The permanent magnet motor market size has grown rapidly in recent years. It will grow from $49.95 billion in 2025 to $54.97 billion in 2026 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to industrial automation growth, appliance electrification, efficiency regulations, manufacturing modernization, demand for compact motors.

The permanent magnet motor market size is expected to see strong growth in the next few years. It will grow to $79.67 billion in 2030 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to electric vehicle production growth, renewable energy deployment, robotics adoption, energy efficiency mandates, smart manufacturing expansion. Major trends in the forecast period include adoption of high efficiency motor designs, expansion of brushless dc motor usage, miniaturization of motor components, integration with smart motor controllers, rising demand for compact high power motors.

The rising adoption of electric vehicles is expected to drive the growth of the permanent magnet motor market in the coming years. Electric vehicles are powered fully or partially by electricity stored in rechargeable batteries rather than conventional internal combustion engines. Growth in this sector is fueled by increasing environmental awareness, government incentives, advancements in battery technology, and growing consumer demand for sustainable transportation. Permanent magnet motors are key components in electric vehicles, offering high efficiency, compact design, and low maintenance, which contribute to improved overall vehicle performance. For example, in January 2024, the U.S. Department of Energy reported that plug-in electric vehicles accounted for 9.8% of all light-duty vehicle sales in December 2023, up from 7.8% in December 2022, with plug-in vehicles consistently comprising at least 8% of monthly sales throughout 2023, compared to 5.5-7.8% in 2022. Therefore, the increasing adoption of electric vehicles is propelling the permanent magnet motor market.

The permanent magnet motor market is trending toward innovations such as brushed permanent magnet DC (PMDC) motors, which enhance efficiency, durability, and energy performance across diverse applications, including automotive, industrial automation, and consumer electronics. Brushed PMDC motors use permanent magnets to generate the required magnetic field and employ brushes to transfer current to the rotor. For instance, in June 2023, a Switzerland-based company introduced high-torque capacity brushed PMDC motors, including models 42D1, 52D1, and 63D1. These motors are designed for harsh environments, featuring an IP54 protection rating and F-class insulation, and offer customization options for small and medium production volumes, including shaft or flange designs and specialized winding variations.

In October 2023, a US-based investment firm acquired VACUUMSCHMELZE GmbH & Co. KG to strengthen its supply chain for high-performance magnetic materials. This acquisition enables the firm to leverage growing demand for magnetic materials critical to energy transition and electrification across multiple industries. VACUUMSCHMELZE GmbH & Co. KG is a German manufacturer specializing in magnetic materials and related products.

Major companies operating in the permanent magnet motor market are Robert Bosch GmbH, Siemens AG, ABB Ltd., Denso Corporation, Nidec Corporation, Yaskawa Electric Corporation, MinebeaMitsumi Inc., Johnson Electric Holdings Limited, Ametek Inc., Toshiba Corporation, Valeo SA, Parker Hannifin Corporation, Wolong Electric Group Co. Ltd., Buhler Motor GmbH, WEG S.A., Aerotech Inc., Maxon Group, Moog Inc., Regal Rexnord Corporation, Kollmorgen Corporation, Hitachi Ltd., Mitsubishi Electric Corporation.

Asia-Pacific was the largest region in the permanent magnet motor market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the permanent magnet motor market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the permanent magnet motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The permanent magnet motor market consists of sales of permanent magnet steppers, axial flux permanent magnet steppers, and radial flux permanent magnet steppers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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