DUBLIN--(BUSINESS WIRE)--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 permanent magnet motor market is projected to reach USD 45.13 billion by 2023, from an estimated USD 29.50 billion in 2018, at a CAGR of 8.87%, during the forecast period
The increasing demand for energy-efficient & low-cost maintenance motors have boosted the demand for permanent magnet motors. Also, the increasing implementation of permanent magnet motors across industries would further aid the growth of this market. High initial cost of permanent magnet motors would act as a restraint for the permanent magnet motor market.
The up to 25 kW segment is expected to be the fastest-growing permanent magnet motor market, by power rating, from 2018 to 2023. It is considered to be the ideal power range for permanent magnet motors. These motors are used in various application areas such as textile, pulp & paper, medical devices, aerospace, robotics, window shutters, air conditioners, door shutters, and electrical vehicles.
Application-based demand is high for this particular power range, resulting in the higher market share of up to 25 kW permanent magnet motors. The demand for up to 25 kW permanent magnet motors is also driven by the increasing demand for energy-efficient motors in developing countries such as India, China, and Japan.
The industrial segment is estimated to be the largest market for permanent magnet motors in 2018. The market for the industrial segment is driven by the investments being made in the electronic and automotive sectors in order to increase efficiency, productivity, reliability, and safety in the industrial sector.
Asia Pacific is expected to be the largest market for permanent magnet motors in 2018, followed by North America and Europe. China and Japan are expected to be the largest markets for permanent magnet motors in the region because of significant investments being made in the industrial sector.
The permanent magnet motor market is also growing at a good pace in countries such as India, Australia, and South Korea because of increasing infrastructure developments. These factors are expected to boost the growth of the permanent magnet motor market in Asia Pacific.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Permanent Magnet Motor Market, By Type
7 Permanent Magnet Motor Market, By Power Rating
8 Permanent Magnet Motor Market, By End User
9 Regional Analysis
10 Competitive Landscape
11 Company Profiles
- Toshiba Corporation
- Johnson Electric
- Allied Motion
For more information about this report visit https://www.researchandmarkets.com/research/37b3lv/permanent_magnet?w=4