Permanent Magnet Motor Market Share

  • Report ID: 5170
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Permanent Magnet Motor Market Share

APAC Market Forecast

The market share of permanent magnet motors in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about 34% by the end of 2037. The growth of the market can be attributed majorly to the increasing investment in the automotive sector. To boost the automotive sector, the government of India boosted the financial allocation for FAME II by 78% in the Union financial 2023. Moreover, in 2023, the automotive sector in India attracted around USD 52 million in investment which further boosted the production of automobiles. On the other hand, the growing adoption of industrial automation is also expected to boost market growth in the region.

North American Market Statistics

The North America permanent magnet motor market is estimated to be the second largest, registering a share of about 26% by the end of 2037. The growth of the market can be attributed majorly to the rising efforts by the government to build a sustainable and energy-efficient environment. For instance, in Canada, the government launched the Canada Industry Program for Energy Conservation (CIPEC) that focuses on energy consumption, On the other hand, the growing wind energy sector is also expected to augment the market growth in the region.

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Author Credits:  Dhruv Bhatia


  • Report ID: 5170
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of permanent magnet motor is evaluated at USD 55.89 billion.

The permanent magnet motor market size was over USD 51.71 billion in 2024 and is poised to exceed USD 180.64 billion by 2037, growing at over 10.1% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for automated industrial equipment and the growing need for saving energy will drive the market growth.

Asia Pacific industry is poised to dominate majority revenue share of 34% by 2037, attributed to increasing investment in the automotive sector.

The major players in the market include Collins Aerospace, Rockwell Automation, Inc., Moog Inc., Brook Crompton UK Ltd., WEG S.A., Johnson Electric Holdings Limited, Franklin Electric Co., Inc., Parker Hannifin Corporation, GKN Metallurgy, Bavde Engineering Ltd.
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