How big is the Permanent Magnet Motor Market?

The Permanent Magnet Motor Market size is expected to reach USD 48.34 billion in 2024 and grow at a CAGR of 9.96% to reach USD 77.71 billion by 2029. Read More

What is the current Permanent Magnet Motor Market size?

In 2024, the Permanent Magnet Motor Market size is expected to reach USD 48.34 billion. Read More

Who are the key players in Permanent Magnet Motor Market?

ABB Limited, Rockwell Automation, Siemens AG, Franklin Electric Company Inc. and Allied Motion Technologies Inc. are the major companies operating in the Permanent Magnet Motor Market. Read More

Which is the fastest growing region in Permanent Magnet Motor Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Permanent Magnet Motor Market?

In 2024, the Asia-Pacific accounts for the largest market share in Permanent Magnet Motor Market. Read More

What years does this Permanent Magnet Motor Market cover, and what was the market size in 2023?

In 2023, the Permanent Magnet Motor Market size was estimated at USD 43.53 billion. The report covers the Permanent Magnet Motor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Permanent Magnet Motor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Permanent Magnet Motor Market Share

Statistics for the 2023 & 2024 Permanent Magnet Motor market share, created by Mordor Intelligence™ Industry Reports. Permanent Magnet Motor share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Permanent Magnet Motor Industry

The Permanent Magnet Motor Market is highly competitive. Market incumbents can gain an advantage and garner a larger market share with innovations and investments in R&D. The intensity of competitive rivalry is expected to increase further, owing to increasing market penetration and the deployment of powerful competitive strategies by market players.

July 2023 - Delta Line announced a new range of brushed permanent magnet DC motors in three sizes 52DI, 42DI, and 63DI. These new motors feature nominal torque up to 0.22Nm in 52mm, 0.06Nm in 42mm, and 0.27Nm in 63mm.
July 2022, Collins Aerospace announced the development of the first working prototype of its 500-kilowatt electric motor for Airlander 10 aircraft in partnership with Hybrid Air Vehicles and the University of Nottingham. Collins wants the 2,000 rpm permanent magnet electric motor to have a power density of 9 kW/kg and an efficiency of 98%. He does this by using a new motor topology and a composite construction.