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Permanent Magnet Motor Market - Growth, Trends, and Forecast (2020 - 2025)

The Permanent Magnet Motor Market is segmented by Motor Type (Alternating Current Motor and Direct Current Motor), Material Type (Ferrite, Neodymium, and Samarium Cobalt), End-user Vertical (General Industrial, Automotive, Water and Wastewater Management, Energy, and Aerospace and Defense), and Geography.

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

9.46 %

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Market Overview

The permanent magnet motor market was valued at USD 33.97 billion in 2019 and is expected to reach USD 57.79 billion by 2025, at a CAGR of 9.46% during the forecast period (2020-2025). 

  • Permanent magnet motor has seen a significant rise in adoption over the years, due to its high efficiency and throughput. This trend is expected to follow over the coming years, owing to the product differentiation and innovations supported by market incumbents.
  • Electric vehicles are expected to boost the growth of the market studied during the forecast period, as the number of new EV cars registered globally hit an unprecedented market share in 2018, with developed markets supporting this trend. With the leading automotive companies increasingly adopting permanent magnet motors into EVs, the global demand is also expected to increase, thus driving the market growth.
  • Although these rare-earth metals find applications in different products, their overall availability has been limited, due to their distinct geochemical properties.

Scope of the Report

A permanent magnet motor is a type of brushless electric motor that uses permanent magnets rather than winding in the field. Permanent magnet motors are more efficient than traditional induction motors or motors with field windings, for certain high-efficiency applications, such as electric vehicles.

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Key Market Trends

Automotive Segment to Hold Significant Share in Permanent Magnet Motor Market

  • In every automobile that is set to be launched in the near future, the number of electric motors is expected to be in double figures.
  • In the automotive industry, except for the starter, the rest of the power distribution in the car comes from micromotors. In the past, the micromotor was used as the power source of the windshield scrubber, wiper, electric pumps, and automatic antenna parts assembly.
  • The increasing demand for light commercial vehicles has made manufacturers emphasize more on passenger comfort and automatic controls. Thus, micro motors have become an indispensable part of the modern automobile infrastructure.
  • When these motors are made of a permanent magnet, they gain large power, small size, light weight, high efficiency. 
  • Most major advancements in technology have been aimed at decreasing the overall size of the product. Therefore, the increasing demand for efficiency, permanent magnet motors are expected to dominate the entire market in the automotive industry, during the forecast period.

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Asia-Pacific to Witness Fastest Growth in the Market

  • The Asia-Pacific region remains a robust and strong market for the permanent magnet motors in the world. The recent gain in momentum for the largest economies in the region, reflecting policy stimulus in Japan and China, which, in turn, benefits other economies in the region.
  • China has emerged as a market leader in the renewable energy sector. China has built large solar and wind farms, which help fuel the growth of major industries in the country that sell their products around the world.
  • Additionally, India's aggressive push to electrify all new automobiles by 2030 is compelling auto part suppliers and manufacturers to draw early plans for electrification.
  • The growing emphasis on the usage of electric vehicles, coupled with increasing investments in renewable energy, is set to boost the growth of the PMM market in the region.

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Competitive Landscape

The market is moderately competitive. Market incumbents can gain an advantage to garner larger market share with innovations and investments in R&D. The intensity of competitive rivalry is expected to further increase, owing to increasing levels of market penetration and deployment of powerful competitive strategies by market players. Some of the key players are Rockwell Automation, Siemens, ABB, and others.

  • Jan 2019 - Crouzet extended its range of intelligent electric motors. With its onboard intelligence, safety functionalities, and communication capabilities, the new motor (SQ75) offers new applications to Crouzet. This new addition of the DCmind Brushless range is manufactured in France and is available in three versions from 310 W to 600 W. 

  • Jan 2018 - Franklin Electric launched a new MagForce Permanent Magnet Motor System. The end users may benefit from significant electrical cost saving functionalities of the motor, via a motor efficiency improvement of 10-12%.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increased Motor Efficiency Due to Permanent Magnets

      2. 4.3.2 Rising Demand for Electric Vehicles

      3. 4.3.3 Rising Demand for Permanent Magnet Motor (PMM) in the Industrial Sector

    4. 4.4 Market Restraints

      1. 4.4.1 Diminishing Availability of Rare-earth Metals

    5. 4.5 Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porters Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Direct Current Motor

      2. 5.1.2 Alternating Current Motor

    2. 5.2 By Magnetic Material Type

      1. 5.2.1 Ferrite

      2. 5.2.2 Neodymium

      3. 5.2.3 Samarium Cobalt

      4. 5.2.4 Other Magnetic Material Types

    3. 5.3 By End-user Vertical

      1. 5.3.1 Automotive

      2. 5.3.2 General Industrial

      3. 5.3.3 Energy

      4. 5.3.4 Water and Wastewater Management

      5. 5.3.5 Mining, and Oil and Gas

      6. 5.3.6 Aerospace and Defense

      7. 5.3.7 Other End-user Verticals

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Mexico

        3. 5.4.4.3 Rest of Latin America

      5. 5.4.5 Middle-East & Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 South Africa

        4. 5.4.5.4 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Rockwell Automation

      2. 6.1.2 Siemens AG

      3. 6.1.3 Franklin Electric Company Inc.

      4. 6.1.4 Allied Motion Technologies Inc.

      5. 6.1.5 Baldor Electric Company Inc.

      6. 6.1.6 Toshiba Corporation

      7. 6.1.7 Ametek Inc.

      8. 6.1.8 Johnson Electric Holdings Ltd

      9. 6.1.9 Autotrol Corporation

      10. 6.1.10 Robert Bosch GmbH

      11. 6.1.11 Danaher Corporation

      12. 6.1.12 Emerson Industrial Automation

      13. 6.1.13 Bonfiglioli Riduttori SpA

      14. 6.1.14 Aerotech Corporation

      15. 6.1.15 Crouzet Automatismes SAS

      16. 6.1.16 Buhler Motors GmbH

      17. 6.1.17 ABB Limited

      18. 6.1.18 Nider Corporation

  7. *List Not Exhaustive
  8. 7. INVESTMENT ANALYSIS

  9. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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