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    Permanent Magnet Motor Market Price, Growth, Size, Share, Report, Forecast 2023-2028

    kevin by kevin
    September 14, 2023
    in Business
    0
    Permanent Magnet Motor Market
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    The new report by Expert Market Research titled, ‘Global Permanent Magnet Motor Market Growth, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the permanent magnet motor market, assessing the market based on its segments like motor type, magnet type, power range, end user, and regional markets among others.

    The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

    The key highlights of the report include:

    Market Overview (2018-2028)

    Historical Market Size (2022): USD 53.24 billion
    Forecast CAGR (2023-2028): 10%
    Forecast Market Size (2028): USD 94.26 billion

    The market is expanding due to increased demand for permanent magnet motors in the automotive industry. Permanent magnet motors are used in different sections of autos, such as car windshield wipers, to produce high voltage through electric energy, as worries about rapid climate change and the depletion of natural resources grow.

    Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/permanent-magnet-motor-market/requestsample

    Furthermore, the usage of such motors improves operating efficiency while reducing greenhouse gas emissions from autos. As a result, the increased demand for luxury automobiles with improved fuel efficiency and automation is spurring the use of permanent magnet motors, supporting market development. Permanent magnet motors are being more widely used as the demand for electric cars grows.

    The increasing usage of AC permanent magnet motors in electric vehicle (EV) engines is projected to fuel market expansion. Furthermore, the permanent magnet motor sector is expected to rise due to the introduction of numerous research initiatives by major businesses to manufacture cost-effective magnets with improved operating efficiency.

    Industry Definition and Major Segments

    A permanent magnet motor is an electric motor that converts mechanical energy to electrical energy using magnets. It is small, portable, and cost-effective, and it improves operating efficiency. Furthermore, a permanent magnet motor can be produced quickly and inexpensively, which is why it is employed in a variety of automotive and industrial applications.

    Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/permanent-magnet-motor-market

    The major motor types of permanent magnet motor are:

    AC Motors
    DC Motors
    Hermetic Motors

    The market can be broadly categorised on the basis of its magnet types into:

    Neodymium
    Samarium Cobalt
    Ferrite
    Others

    Based on power range, the market is divided into:

    4.0 kW and Below
    Between 4.0 to 22.0 kW
    Between 22.0 to 75.0 kW
    75.0 kW and Above

    By end-users, the market is categorised into:

    Automotive
    General Industrial
    Energy
    Water and Wastewater Management
    Mining, Oil, and Gas
    Aerospace and Defence
    Others

    The major regional markets of the permanent magnet motor market are:

    North America
    Asia Pacific
    Latin America
    Europe
    Middle East and Africa regions

    Permanent Magnet Motor Market Trends

    The desire for alternative energy sources is driving up the installation of wind turbines, which is driving up the use of permanent magnet motors. Permanent magnet motors are increasingly used in wind turbine generators because they efficiently transfer mechanical energy into electrical energy. Furthermore, the start of different research and development (R&D) efforts for breakthroughs in wind energy is increasing the usage of permanent magnet motors, boosting the market’s growth.

    The market is predicted to rise due to the introduction of novel permanent magnet motors that maintain a consistent speed while minimising slippage. Furthermore, the market is expected to develop because to the cost-effectiveness, ease of installation, fuel economy, and low density given by such motors. Several major corporations are also working on motors that only use permanent magnets to create magnetic force for rotors and generators. As a result, the permanent magnet motor industry is expected to develop at a rapid pace throughout the projected period.

    Key Market Players

    The major players in the market are:

    • ABB Ltd.
    • Rockwell Automation, Inc.
    • Siemens AG,
    • Franklin Electric Co., Inc.
    • Allied Motion, Inc.
    • Nidec Motor Corporation
    • others

    The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

    Read More Reports:-

    Vietnam Warehousing Market- https://www.expertmarketresearch.com/reports/vietnam-warehousing-market

    United States Basmati Rice Market- https://www.expertmarketresearch.com/reports/united-states-basmati-rice-market

    United States LED Lighting Market- https://www.expertmarketresearch.com/reports/united-states-led-lighting-market

    Multi Cooker Market- https://www.expertmarketresearch.com/reports/multi-cooker-market

    About Us:

    Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

    EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

    Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

    Media Contact

    Company Name: Claight Corporation
    Contact Person: Christopher, Business Consultant
    Email: sales@expertmarketresearch.com
    Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
    Address: 30 North Gould Street, Sheridan, WY 82801, USA
    Website: https://www.expertmarketresearch.com

    Tags: Permanent Magnet Motor MarketPermanent Magnet Motor Market Growth
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