The permanent magnet motor market is valued at US$ 49.2 billion in 2024 and is projected to reach US$ 132 billion by 2034, exhibiting a modest CAGR of 10.40% over the forecast period.
The permanent magnet motor industry generated an estimated revenue of US$ 26.5 billion in 2019. In the past four years, the market grew at a pace of 13.5% CAGR and added revenue of US$ 43.90 billion. Several reasons can be attributed to this growth:
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2024) | US$ 49.2 billion |
Anticipated Forecast Value (2034) | US$ 132 billion |
Estimated Growth (2024 to 2034) | 10.40% CAGR |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The permanent magnet motor industry is anticipated to surpass a global valuation of US$ US$ 132 billion by the year 2034, with a growth rate of 10.40% CAGR. While the market is expected to experience remarkable growth, several restraining factors could adversely affect its development:
Depending on the motor type, the permanent magnet motor industry is bifurcated into DC and AC motors. The DC motors segment is anticipated to grow at a remarkable CAGR of 10.10%.
Attributes | Details |
---|---|
Motor Type | Direct Current |
CAGR | 10.10% |
The permanent magnet motor industry is categorized by materials into ferrite, neodymium, and samarium cobalt. The ferrite segment dominates the market and is anticipated to grow at an outstanding CAGR of 9.80%.
Attributes | Details |
---|---|
Materials | Ferrite |
CAGR | 9.80% |
The section provides an analysis of the permanent magnet motor industry by country, including Japan, China, the United States, South Korea, and the United Kingdom. The table presents the CAGR for each country, indicating the expected growth of the market in through 2034.
Countries | CAGR |
---|---|
South Korea | 12.10% |
The United Kingdom | 11.80% |
China | 11.10% |
The United States | 10.70% |
Japan | 8.80% |
South Korea is one of the leading countries in this market. The South Korean permanent magnet motor industry is anticipated to retain its dominance by progressing at an annual growth rate of 12.10% till 2034.
The United Kingdom also dominates the permanent magnet motor industry. The United Kingdom's permanent magnet motor market is anticipated to retain its dominance by progressing at an annual growth rate of 11.80% till 2034.
China’s permanent magnet motor market is anticipated to exhibit a CAGR of 11.10% till 2034.
The United States is also one of the leading countries in the global permanent magnet motor industry, which is anticipated to register a CAGR of 10.70% through 2034.
The demand for permanent magnet motors in Japan is projected to rise at an 8.80% CAGR through 2034.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The global market for permanent magnet motors is filled with international and domestic countries. ABB Limited, Rockwell Automation, Siemens AG, Franklin Electric Company Inc., and Allied Motion Technologies Inc. are prominent companies in the permanent magnet motor industry. These companies invest heavily in developing motors with increased efficiency, enhanced functionality, and smart features.
Key players in the market are also collaborating with government and non-government environmental entities to improve their reputation as socially responsible entities, attracting environmentally conscious consumers to the market.
Recent Developments
The global permanent magnet motor market is expected to be worth US$ 49.20 billion by 2024.
The market for permanent magnet motors is expected to reach US$ 132 billion by 2034.
The permanent magnet motor industry is expanding at a CAGR of 10.40% from 2024 to 2034.
ABB Limited, Rockwell Automation, Siemens AG, Franklin Electric Company Inc., and Allied Motion Technologies Inc. are some of the major players in the market.
The global valuation for the permanent magnet motor market in 2023 was US$ 43.90 billion.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Motor Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Motor Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Motor Type, 2024 to 2034 5.3.1. Direct Current Motor 5.3.2. Alternating Current Motor 5.4. Y-o-Y Growth Trend Analysis By Motor Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Motor Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Magnetic Material Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Magnetic Material Type, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Magnetic Material Type, 2024 to 2034 6.3.1. Ferrite 6.3.2. Neodymium 6.3.3. Samarium Cobalt 6.4. Y-o-Y Growth Trend Analysis By Magnetic Material Type, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Magnetic Material Type, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-user Vertical 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-user Vertical, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-user Vertical, 2024 to 2034 7.3.1. General Industrial 7.3.2. Automotive 7.3.3. Energy 7.3.4. Water and Wastewater Management 7.3.5. Mining 7.3.6. Oil and Gas 7.3.7. Aerospace and Defense 7.4. Y-o-Y Growth Trend Analysis By End-user Vertical, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By End-user Vertical, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 8.3.1. North America 8.3.2. Latin America 8.3.3. Western Europe 8.3.4. Eastern Europe 8.3.5. South Asia and Pacific 8.3.6. East Asia 8.3.7. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Motor Type 9.2.3. By Magnetic Material Type 9.2.4. By End-user Vertical 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Motor Type 9.3.3. By Magnetic Material Type 9.3.4. By End-user Vertical 9.4. Key Takeaways 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Motor Type 10.2.3. By Magnetic Material Type 10.2.4. By End-user Vertical 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Motor Type 10.3.3. By Magnetic Material Type 10.3.4. By End-user Vertical 10.4. Key Takeaways 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. UK 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Western Europe 11.2.2. By Motor Type 11.2.3. By Magnetic Material Type 11.2.4. By End-user Vertical 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Motor Type 11.3.3. By Magnetic Material Type 11.3.4. By End-user Vertical 11.4. Key Takeaways 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Poland 12.2.1.2. Russia 12.2.1.3. Czech Republic 12.2.1.4. Romania 12.2.1.5. Rest of Eastern Europe 12.2.2. By Motor Type 12.2.3. By Magnetic Material Type 12.2.4. By End-user Vertical 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Motor Type 12.3.3. By Magnetic Material Type 12.3.4. By End-user Vertical 12.4. Key Takeaways 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Bangladesh 13.2.1.3. Australia 13.2.1.4. New Zealand 13.2.1.5. Rest of South Asia and Pacific 13.2.2. By Motor Type 13.2.3. By Magnetic Material Type 13.2.4. By End-user Vertical 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Motor Type 13.3.3. By Magnetic Material Type 13.3.4. By End-user Vertical 13.4. Key Takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.2. By Motor Type 14.2.3. By Magnetic Material Type 14.2.4. By End-user Vertical 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Motor Type 14.3.3. By Magnetic Material Type 14.3.4. By End-user Vertical 14.4. Key Takeaways 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Motor Type 15.2.3. By Magnetic Material Type 15.2.4. By End-user Vertical 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Motor Type 15.3.3. By Magnetic Material Type 15.3.4. By End-user Vertical 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2023 16.1.2.1. By Motor Type 16.1.2.2. By Magnetic Material Type 16.1.2.3. By End-user Vertical 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2023 16.2.2.1. By Motor Type 16.2.2.2. By Magnetic Material Type 16.2.2.3. By End-user Vertical 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2023 16.3.2.1. By Motor Type 16.3.2.2. By Magnetic Material Type 16.3.2.3. By End-user Vertical 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2023 16.4.2.1. By Motor Type 16.4.2.2. By Magnetic Material Type 16.4.2.3. By End-user Vertical 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2023 16.5.2.1. By Motor Type 16.5.2.2. By Magnetic Material Type 16.5.2.3. By End-user Vertical 16.6. UK 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2023 16.6.2.1. By Motor Type 16.6.2.2. By Magnetic Material Type 16.6.2.3. By End-user Vertical 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2023 16.7.2.1. By Motor Type 16.7.2.2. By Magnetic Material Type 16.7.2.3. By End-user Vertical 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2023 16.8.2.1. By Motor Type 16.8.2.2. By Magnetic Material Type 16.8.2.3. By End-user Vertical 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2023 16.9.2.1. By Motor Type 16.9.2.2. By Magnetic Material Type 16.9.2.3. By End-user Vertical 16.10. Poland 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2023 16.10.2.1. By Motor Type 16.10.2.2. By Magnetic Material Type 16.10.2.3. By End-user Vertical 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2023 16.11.2.1. By Motor Type 16.11.2.2. By Magnetic Material Type 16.11.2.3. By End-user Vertical 16.12. Czech Republic 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2023 16.12.2.1. By Motor Type 16.12.2.2. By Magnetic Material Type 16.12.2.3. By End-user Vertical 16.13. Romania 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2023 16.13.2.1. By Motor Type 16.13.2.2. By Magnetic Material Type 16.13.2.3. By End-user Vertical 16.14. India 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2023 16.14.2.1. By Motor Type 16.14.2.2. By Magnetic Material Type 16.14.2.3. By End-user Vertical 16.15. Bangladesh 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2023 16.15.2.1. By Motor Type 16.15.2.2. By Magnetic Material Type 16.15.2.3. By End-user Vertical 16.16. Australia 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2023 16.16.2.1. By Motor Type 16.16.2.2. By Magnetic Material Type 16.16.2.3. By End-user Vertical 16.17. New Zealand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2023 16.17.2.1. By Motor Type 16.17.2.2. By Magnetic Material Type 16.17.2.3. By End-user Vertical 16.18. China 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2023 16.18.2.1. By Motor Type 16.18.2.2. By Magnetic Material Type 16.18.2.3. By End-user Vertical 16.19. Japan 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2023 16.19.2.1. By Motor Type 16.19.2.2. By Magnetic Material Type 16.19.2.3. By End-user Vertical 16.20. South Korea 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2023 16.20.2.1. By Motor Type 16.20.2.2. By Magnetic Material Type 16.20.2.3. By End-user Vertical 16.21. GCC Countries 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2023 16.21.2.1. By Motor Type 16.21.2.2. By Magnetic Material Type 16.21.2.3. By End-user Vertical 16.22. South Africa 16.22.1. Pricing Analysis 16.22.2. Market Share Analysis, 2023 16.22.2.1. By Motor Type 16.22.2.2. By Magnetic Material Type 16.22.2.3. By End-user Vertical 16.23. Israel 16.23.1. Pricing Analysis 16.23.2. Market Share Analysis, 2023 16.23.2.1. By Motor Type 16.23.2.2. By Magnetic Material Type 16.23.2.3. By End-user Vertical 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Motor Type 17.3.3. By Magnetic Material Type 17.3.4. By End-user Vertical 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Danaher Corporation 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. Siemens AG 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. Rockwell Automation Inc. 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. Ametek Inc. 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. Toshiba Corporation 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. Baldor Electric Company Inc. 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 18.1.7. Autotrol Corporation 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.7.5.2. Product Strategy 18.1.7.5.3. Channel Strategy 18.1.8. Allied Motion Technologies Inc. 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.8.5.2. Product Strategy 18.1.8.5.3. Channel Strategy 18.1.9. Johnson Electric Holdings Ltd. 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.9.5.2. Product Strategy 18.1.9.5.3. Channel Strategy 18.1.10. Franklin Electric Co. Inc. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.10.5.2. Product Strategy 18.1.10.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Automotive Insights
View Reports