Permanent Magnet Motor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Permanent Magnet Motor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Status : November, 2021 | Energy & Mining

Report Digest


Global Permanent Magnet Motor Market: Overview

The global market for permanent magnet motor has been growing at the back of the customised needs of various industrial units. Permanent magnet motors offer a wide range of advantages over other kinds of motors which has driven demand for the former across the globe. The permanent magnet motors are manufactured by creating a persistent magnetic field through a magnetized material, and these motors are either ferrimagnetic or ferromagnetic. Permanent magnets are superior to temporary magnets because the former do not lose their magnetic properties unless heated above a certain temperature. Sintering and casting are amongst the most common methods of manufacturing these magnets. The demand within the global market for permanent magnet motors is expected to grow by leaps and bounds due to the growth of multiple industries. Furthermore, the swift manufacturing of permanent magnets has facilitated the production of permanent magnet motors which has in turn fortified the global market.

The global market for permanent magnet motors can be segmented based on the following criteria: product, application, and region. Since the market caters to a wide range of industries, it is important to understand each of the aforementioned segments to get a holistic view of the market.

The report is an analytic approach towards understanding the growth pattern of the global market for permanent magnet motors. All the industries that are aligned with the market for these motors have been included in the report. The intent behind elucidating the forces operating in these industries is embedded in giving a multifaceted view to the readers of the report. Furthermore, the market players who have left imprints of their success in the global market for permanent magnet motors have also been mentioned in the report.

Global Permanent Magnet Motor Market: Trends and Opportunities

The automotive industry is a prolific consumer of permanent magnet motors, and hence, the growth of the former has strengthened the global market. The rapid infrastructural changes across several industrial longitudes have also aided the growth of the global market for permanent magnet motors in recent times. The increasing demand for electricity has been pressurizing power houses and electricity boards to efficiently manage and distribute power across households, commercial units, and industries. This has led to the propagation of permanent magnet motors across the world as they consume lesser electricity as against other motors. Wind energy plants have multiplied in number and these plants extensively use permanent magnet motors which also drives demand within the global market. Despite these favourable factors for market growth, the limited availability of raw materials to manufacture permanent magnet motors could hamper market growth. Nevertheless, the inflow of demand from multiple industries is projected to keep offering an impetus to the global market for permanent magnet motors.

Global Permanent Magnet Motor Market: Regional Analysis

The electronics and automotive industries across China have exhibited tremendous growth over the past years. This has directly contributed to the growth of the market for permanent magnet motors across Asia Pacific. Contrary to this affluent growth of the market in Asia Pacific, the market in North America is expected to exhibit a sluggish growth rate due to unavailability of rare earth elements in the region.

Global Permanent Magnet Motor Market: Competitive Landscape

Some of the leading players in the global market for permanent magnet motors are Hitachi Metals Ltd., Adams Magnetic Products Co., Dexter Magnetic Technologies, Arnold Magnetic Technologies, and Electron Energy Corporation.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

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Accurate Trend Analysis

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Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?