Permanent Magnet Synchronous Motors Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

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Permanent Magnet Synchronous Motors Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

Status : August, 2022 | Industrial

Report Digest

Permanent Magnet Synchronous Motors Market: Overview

The increasing awareness about using green energy for vehicles and rising popularity of electric vehicles is a prime factor augmenting the growth of the global permanent magnet synchronous motors magnet during the forecast period set between 2020 and 2030. A PMSM or permanent magnet synchronous motor helps to create a constant magnetic field by using permanent magnets installed in the steel rotor for creating a stagnant magnetic field. Synchronous motors contain multiphase AC electromagnets on the stator of the engine that make a magnetic field which turns on schedule with the motions of the line current. The rotor with permanent magnets or electromagnets turns in sync with the stator field at a similar rate and accordingly, gives the second synchronized pivoting magnet field of any AC engine.

The global permanent magnet synchronous motors market is classified on the basis of capacity, type, control, end use, and region. Based on capacity, the market is categorized into capacity, type, control, end use, and geography. As per classification by capacity, the market is divided into 450 600 kW, above Kw, and 375-450 Kw. In terms of categorization by type, the market is bifurcated into interior and surface motors respectively. As per segmentation by control, the market is divided into sinusoidal and trapezoidal. Among these, the sinusoidal segment is again bifurcated into vector and scalar, and the trapezoidal segment is bifurcated into closed loop and open loop. With respect to segmentation by end use, the market is distinguished into mining, power, defense, marine, oil & gas, automotive, aerospace, electrical & electronics, and others that include healthcare.

The report offers an elaborate overview of the global market for permanent magnet synchronous motors and discusses the prime factors responsible for its growth. Besides this, the report highlights the key players functioning in the market and their prime strategies that will help the market generate higher revenues. Additionally, the table of segmentation for this market is also described in the report, with prime emphasis on the leading segments and its attributed factors. Furthermore, the report lists the current trends and innovations that have proved to be useful for the growth of this market in the past couple of years.

Permanent Magnet Synchronous Motors Market: Competitive Landscape

Manufacturers of the global permanent magnet synchronous motors market are indulged in innovative technology and development of highly-efficient moors to gain an upper hand in the overall market competition. Other players are engaging in collaborative efforts such as merger and acquisitions, and joint ventures so as to attract high revenues for the overall market on the one side and emerge dominant on the other.

Some of the key players functioning in the global permanent magnet synchronous motors market include:

  • Zhejiang Zhongyuan Electric Co., Ltd.
  • Yasakawa Electric Corp.
  • Yasa Limited
  • Toshiba International Corporation
  • Siemens AG
  • Rolls Royce Plc
  • Oemer Motori Elettrici S.P.A.
  • Nidec Corporation
  • Meidensha Corporation
  • Hitachi Ltd
  • Hansen Corporation
  • General Electric
  • ATE antriebstechnik undentwicklungs GmbH & Co. KG
  • Alstom
  • ABB Ltd.

Permanent Magnet Synchronous Motors Market: Drivers

The advent of innovative design and technological advancement in the field of machinery and equipment sector is a prime factor augmenting the growth of the global permanent magnet synchronous motors market. Besides this, the increasing application of such motors for their swift acceleration and high power density property will also add impetus to the overall growth of this market. These motors are highly efficient and produce less noise as compared to other non-magnetic motors.Thus, the increasing adoption of such motors for use in the automotive industry is further expected to help the market attract significant revenues in the forecast period.

Permanent Magnet Synchronous Motors Market: Geographical Insights

Regionwise, the market is dominated by Asia Pacific on account of the presence of large automobile industries and their increasing demand for permanent magnet synchronous motors. The rapidly growing industrial sector and the increasing number of small and medium sized enterprises are also expected to add boost to the growth of the regional market in the coming years. Besides this, North America generated notable revenues on account of the increasing adoption of high end users for such motors.

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5-Point Growth Formula

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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?