Global Permanent Magnet Motor Market Size, Share, Trends & Analysis by Type (Synchronous Motors, Brushless DC Motors, Stepper Motors, Switched Reluctance Motors), by Magnet Type (Neodymium Iron Boron, Samarium Cobalt, Ferrite), by Cooling Method (Air-Cooled, Liquid-Cooled), by End Use (Transportation, Manufacturing, Residential, Commercial) and Region, with Forecasts from 2024 to 2034.

  • Published: January, 2025
  • Pages: 196
  • Format:
  • Report ID: 79984332
  • Industry: Automation

Market Overview

 

The Global Permanent Magnet Motor Market is poised to witness robust growth from 2024 to 2034, fueled by advancements in energy-efficient motor technologies, the rising adoption of electric vehicles (EVs), and increasing demand for automation across various industries. In 2024, the market is valued at USD XX.XX billion and is projected to reach USD XX.XX billion by 2034, growing at a compound annual growth rate (CAGR) of XX.XX%. Permanent magnet motors are gaining traction due to their ability to deliver higher efficiency, compact size, and superior performance compared to traditional motors, making them essential in transportation, manufacturing, and residential applications.

 

Definition and Scope of Permanent Magnet Motors

 

Permanent magnet motors are electric motors that utilize permanent magnets to create a magnetic field, eliminating the need for external excitation. These motors are renowned for their high efficiency, compact design, and lower operational costs, making them ideal for applications across transportation, manufacturing, residential, and commercial sectors. The market includes various motor types such as synchronous motors, brushless DC motors, stepper motors, and switched reluctance motors. Additionally, the motors are categorized based on magnet types (e.g., neodymium iron boron, samarium cobalt, ferrite) and cooling methods (air-cooled and liquid-cooled).

 

Market Drivers

 

• Rising Adoption of Electric Vehicles (EVs): The shift toward EVs is a significant growth driver, as permanent magnet motors are critical components in electric drivetrains, offering high torque and energy efficiency.

 

• Industrial Automation Trends: The growing demand for automation in manufacturing and industrial processes is boosting the need for high-performance motors capable of precise control and energy savings.

 

• Focus on Energy Efficiency: Increasing regulatory mandates and consumer preferences for energy-efficient solutions are driving the adoption of permanent magnet motors across multiple applications.

 

Market Restraints

 

• High Initial Costs: The use of rare-earth materials, such as neodymium and samarium, can result in higher production costs, which may hinder market penetration, especially in cost-sensitive regions.

 

• Raw Material Supply Risks: The reliance on rare-earth materials poses a challenge due to fluctuating prices and geopolitical factors affecting their supply.

 

Opportunities

 

• Advancements in Motor Design: Innovations in motor design, including hybrid magnet configurations and improved cooling technologies, present opportunities to enhance motor efficiency and performance.

 

• Growing EV and Renewable Energy Adoption: Increasing investments in EV infrastructure and renewable energy systems, such as wind turbines, are creating new growth avenues for permanent magnet motors.

 

• Emerging Markets: Rapid industrialization and urbanization in developing economies, coupled with government initiatives promoting energy efficiency, are driving market expansion.

 

Market Segmentation Analysis

 

• By Type

    ○ Synchronous Motors

    ○ Brushless DC Motors

    ○ Stepper Motors

    ○ Switched Reluctance Motors

 

• By Magnet Type

    ○ Neodymium Iron Boron (NdFeB)

    ○ Samarium Cobalt (SmCo)

    ○ Ferrite

 

• By Cooling Method

    ○ Air-Cooled

    ○ Liquid-Cooled

 

• By End Use

    ○ Transportation

    ○ Manufacturing

    ○ Residential

    ○ Commercial

 

Regional Analysis

 

• North America: The region leads in technological advancements and adoption of EVs, with a strong focus on energy efficiency and sustainability.

 

• Europe: Growth is driven by stringent environmental regulations, widespread EV adoption, and the region’s push toward renewable energy systems.

 

• Asia-Pacific: Rapid industrialization, a booming EV market, and growing investments in manufacturing automation are propelling the market forward in countries like China, Japan, and India.

 

• Rest of the World: The Middle East, Africa, and Latin America are experiencing growing adoption of energy-efficient motor solutions in transportation and manufacturing applications.

 

The Global Permanent Magnet Motor Market is expected to grow significantly, driven by technological advancements, increasing demand for energy-efficient solutions, and the rapid expansion of EVs and industrial automation. Emerging markets and innovations in motor technologies will continue to shape the market, offering exciting opportunities for industry stakeholders over the forecast period.

 

Competitive Landscape

 

Key players in the Global Permanent Magnet Motor Market include:

 

ABB Ltd.

Siemens AG

Nidec Corporation

Toshiba Corporation

Regal Rexnord Corporation

WEG S.A.

Rockwell Automation, Inc.

Johnson Electric Holdings Limited

Allied Motion Technologies Inc.

AMETEK, Inc.

Table of Contents:

 

1. Introduction

    1.1. Definition of Permanent Magnet Motors

    1.2. Scope of the Report

    1.3. Research Methodology

 

2. Executive Summary

    2.1. Key Findings

    2.2. Market Snapshot

    2.3. Key Trends

 

3. Market Dynamics

    3.1. Market Drivers

        3.1.1. Growing Demand for Energy-Efficient Motors

        3.1.2. Increasing Adoption of Automation in Industries

        3.1.3. Advancements in Magnet Technologies

        3.1.4. Other Market Drivers

    3.2. Market Restraints

        3.2.1. High Costs of Permanent Magnet Motors

        3.2.2. Volatility in Raw Material Prices

        3.2.3. Other Market Restraints

    3.3. Market Opportunities

        3.3.1. Development of Sustainable and Recyclable Magnets

        3.3.2. Expansion of Renewable Energy Projects

        3.3.3. Growing Demand in Emerging Markets

        3.3.4. Other Market Opportunities

 

4. Global Permanent Magnet Motor Market Analysis

    4.1. Market Size and Forecast (2024-2034)

    4.2. Market Share Analysis by:

        4.2.1. Type

            4.2.1.1. Synchronous Motors

            4.2.1.2. Brushless DC Motors

            4.2.1.3. Stepper Motors

            4.2.1.4. Switched Reluctance Motors

        4.2.2. Magnet Type

            4.2.2.1. Neodymium Iron Boron

            4.2.2.2. Samarium Cobalt

            4.2.2.3. Ferrite

        4.2.3. Cooling Method

            4.2.3.1. Air-Cooled

            4.2.3.2. Liquid-Cooled

        4.2.4. End Use

            4.2.4.1. Transportation

            4.2.4.2. Manufacturing

            4.2.4.3. Residential

            4.2.4.4. Commercial

    4.3. Value Chain Analysis

    4.4. SWOT Analysis

    4.5. Porter’s Five Forces Analysis

 

5. Regional Market Analysis

    5.1. North America

        5.1.1. Market Overview

        5.1.2. Market Size and Forecast

        5.1.3. Key Trends

        5.1.4. Competitive Landscape

    5.2. Europe

        5.2.1. Market Overview

        5.2.2. Market Size and Forecast

        5.2.3. Key Trends

        5.2.4. Competitive Landscape

    5.3. Asia Pacific

        5.3.1. Market Overview

        5.3.2. Market Size and Forecast

        5.3.3. Key Trends

        5.3.4. Competitive Landscape

    5.4. Latin America

        5.4.1. Market Overview

        5.4.2. Market Size and Forecast

        5.4.3. Key Trends

        5.4.4. Competitive Landscape

    5.5. Middle East & Africa

        5.5.1. Market Overview

        5.5.2. Market Size and Forecast

        5.5.3. Key Trends

        5.5.4. Competitive Landscape

 

6. Competitive Landscape

    6.1. Market Share Analysis of Key Players

    6.2. Company Profiles of Key Players

        6.2.1. ABB Ltd.

        6.2.2. Siemens AG

        6.2.3. Nidec Corporation

        6.2.4. Toshiba Corporation

        6.2.5. Regal Rexnord Corporation

        6.2.6. WEG S.A.

        6.2.7. Rockwell Automation, Inc.

        6.2.8. Johnson Electric Holdings Limited

        6.2.9. Allied Motion Technologies Inc.

        6.2.10. AMETEK, Inc.

    6.3. Recent Developments and Innovations

    6.4. Strategic Initiatives

 

7. Future Outlook and Market Forecast

    7.1. Market Growth Prospects

    7.2. Technological Trends and Innovations

    7.3. Investment Opportunities

    7.4. Strategic Recommendations

 

8. Key Insights and Reiteration of Main Findings

9. Future Prospects for the Global Permanent Magnet Motor Market

 

List of Tables:

 

Table 1: Global Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 2: Global Permanent Magnet Motor Market, By Synchronous Motors, 2024-2034 (USD Billion)

Table 3: Global Permanent Magnet Motor Market, By Brushless DC Motors, 2024-2034 (USD Billion)

Table 4: Global Permanent Magnet Motor Market, By Stepper Motors, 2024-2034 (USD Billion)

Table 5: Global Permanent Magnet Motor Market, By Switched Reluctance Motors, 2024-2034 (USD Billion)

Table 6: Global Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 7: Global Permanent Magnet Motor Market, By Neodymium Iron Boron, 2024-2034 (USD Billion)

Table 8: Global Permanent Magnet Motor Market, By Samarium Cobalt, 2024-2034 (USD Billion)

Table 9: Global Permanent Magnet Motor Market, By Ferrite, 2024-2034 (USD Billion)

Table 10: Global Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 11: Global Permanent Magnet Motor Market, By Air-Cooled, 2024-2034 (USD Billion)

Table 12: Global Permanent Magnet Motor Market, By Liquid-Cooled, 2024-2034 (USD Billion)

Table 13: Global Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 14: Global Permanent Magnet Motor Market, By Transportation, 2024-2034 (USD Billion)

Table 15: Global Permanent Magnet Motor Market, By Manufacturing, 2024-2034 (USD Billion)

Table 16: Global Permanent Magnet Motor Market, By Residential, 2024-2034 (USD Billion)

Table 17: Global Permanent Magnet Motor Market, By Commercial, 2024-2034 (USD Billion)

Table 18: Global Permanent Magnet Motor Market, By Region, 2024-2034 (USD Billion)

Table 19: North America Permanent Magnet Motor Market, By Country, 2024-2034 (USD Billion)

Table 20: North America Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 21: North America Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 22: North America Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 23: North America Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 24: United States Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 25: United States Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 26: United States Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 27: United States Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 28: Canada Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 29: Canada Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 30: Canada Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 31: Canada Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 32: Europe Permanent Magnet Motor Market, By Country, 2024-2034 (USD Billion)

Table 33: Europe Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 34: Europe Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 35: Europe Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 36: Europe Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 37: Germany Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 38: Germany Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 39: Germany Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 40: Germany Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 41: U.K. Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 42: U.K. Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 43: U.K. Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 44: U.K. Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 45: Asia-Pacific Permanent Magnet Motor Market, By Country, 2024-2034 (USD Billion)

Table 46: Asia-Pacific Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 47: Asia-Pacific Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 48: Asia-Pacific Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 49: Asia-Pacific Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 50: China Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 51: China Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 52: China Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 53: China Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 54: Middle East and Africa Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 55: Middle East and Africa Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 56: Middle East and Africa Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 57: Middle East and Africa Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 58: South America Permanent Magnet Motor Market, By Type, 2024-2034 (USD Billion)

Table 59: South America Permanent Magnet Motor Market, By Magnet Type, 2024-2034 (USD Billion)

Table 60: South America Permanent Magnet Motor Market, By Cooling Method, 2024-2034 (USD Billion)

Table 61: South America Permanent Magnet Motor Market, By End Use, 2024-2034 (USD Billion)

Table 62: Global Permanent Magnet Motor Market, Strategic Developments, 2024-2034

Table 63: Global Permanent Magnet Motor Market, Mergers & Acquisitions, 2024-2034

Table 64: Global Permanent Magnet Motor Market, Technological Innovations, 2024-2034

Table 65: Global Permanent Magnet Motor Market, Key Insights and Recommendations, 2024-2034

Table 66: Global Permanent Magnet Motor Market, Competitive Landscape, 2024-2034

 

List of Figures:

 

Figure 1: Global Permanent Magnet Motor Market: Market Segmentation

Figure 2: Global Permanent Magnet Motor Market: Research Methodology

Figure 3: Top-Down Approach

Figure 4: Bottom-Up Approach

Figure 5: Data Triangulation and Validation

Figure 6: Global Permanent Magnet Motor Market: Drivers, Restraints, Opportunities, and Challenges

Figure 7: Global Permanent Magnet Motor Market: Porter's Five Forces Model Analysis

Figure 8: Global Permanent Magnet Motor Market: Value Chain Analysis

Figure 9: Global Permanent Magnet Motor Market Share Analysis, By Type, 2024-2034

Figure 10: Global Permanent Magnet Motor Market Share Analysis, By Magnet Type, 2024-2034

Figure 11: Global Permanent Magnet Motor Market Share Analysis, By Cooling Method, 2024-2034

Figure 12: Global Permanent Magnet Motor Market Share Analysis, By End Use, 2024-2034

Figure 13: Global Permanent Magnet Motor Market Share Analysis, By Region, 2024-2034

Figure 14: North America Permanent Magnet Motor Market Share Analysis, By Type, 2024-2034

Figure 15: North America Permanent Magnet Motor Market Share Analysis, By Magnet Type, 2024-2034

Figure 16: North America Permanent Magnet Motor Market Share Analysis, By Cooling Method, 2024-2034

Figure 17: North America Permanent Magnet Motor Market Share Analysis, By End Use, 2024-2034

Figure 18: North America Permanent Magnet Motor Market Share Analysis, By Country, 2024-2034

Figure 19: Europe Permanent Magnet Motor Market Share Analysis, By Type, 2024-2034

Figure 20: Europe Permanent Magnet Motor Market Share Analysis, By Magnet Type, 2024-2034

Figure 21: Europe Permanent Magnet Motor Market Share Analysis, By Cooling Method, 2024-2034

Figure 22: Europe Permanent Magnet Motor Market Share Analysis, By End Use, 2024-2034

Figure 23: Europe Permanent Magnet Motor Market Share Analysis, By Country, 2024-2034

Figure 24: Asia-Pacific Permanent Magnet Motor Market Share Analysis, By Type, 2024-2034

Figure 25: Asia-Pacific Permanent Magnet Motor Market Share Analysis, By Magnet Type, 2024-2034

Figure 26: Asia-Pacific Permanent Magnet Motor Market Share Analysis, By Cooling Method, 2024-2034

Figure 27: Asia-Pacific Permanent Magnet Motor Market Share Analysis, By End Use, 2024-2034

Figure 28: Asia-Pacific Permanent Magnet Motor Market Share Analysis, By Country, 2024-2034

Figure 29: Middle East and Africa Permanent Magnet Motor Market Share Analysis, By Type, 2024-2034

Figure 30: Middle East and Africa Permanent Magnet Motor Market Share Analysis, By Magnet Type, 2024-2034

Figure 31: Middle East and Africa Permanent Magnet Motor Market Share Analysis, By Cooling Method, 2024-2034

Figure 32: Middle East and Africa Permanent Magnet Motor Market Share Analysis, By End Use, 2024-2034

Figure 33: Middle East and Africa Permanent Magnet Motor Market Share Analysis, By Country, 2024-2034

Figure 34: South America Permanent Magnet Motor Market Share Analysis, By Type, 2024-2034

Figure 35: South America Permanent Magnet Motor Market Share Analysis, By Magnet Type, 2024-2034

Figure 36: South America Permanent Magnet Motor Market Share Analysis, By Cooling Method, 2024-2034

Figure 37: South America Permanent Magnet Motor Market Share Analysis, By End Use, 2024-2034

Figure 38: South America Permanent Magnet Motor Market Share Analysis, By Country, 2024-2034

Figure 39: Global Permanent Magnet Motor Market: Competitive Benchmarking

Figure 40: Global Permanent Magnet Motor Market: Vendor Share Analysis, 2024-2034

Figure 41: Global Permanent Magnet Motor Market: Key Player Strategies

Figure 42: Global Permanent Magnet Motor Market: Recent Developments and Innovations

Figure 43: Global Permanent Magnet Motor Market: Mergers and Acquisitions

Figure 44: Global Permanent Magnet Motor Market: SWOT Analysis of Key Players

Key Players: (this may not be a complete list and extra companies can be added upon request)

 

ABB Ltd.

Siemens AG

Nidec Corporation

Toshiba Corporation

Regal Rexnord Corporation

WEG S.A.

Rockwell Automation, Inc.

Johnson Electric Holdings Limited

Allied Motion Technologies Inc.

AMETEK, Inc.

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