Permanent Magnet Motor Market Size

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

The growth of the market can be attributed to the growing adoption of robotic automation. The global stock of operational robots has reached a new high of over 3.5 million units. The use of permanent magnet motors is well-suited for different applications of robotic machinery including better energy efficiency and low requirement for maintenance.

In addition to these, factors that are believed to fuel the market growth of permanent magnet motor include the increasing production of automobiles. In 2022, 85.4 million automobiles have been manufactured worldwide, a 5.7% increase over 2021. The compact size of these motors helps to improve the space utilization within the vehicles and reduce the overall weight of the vehicle.

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.

Permanent Magnet Motor Market Size