Permanent Magnet Motor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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