The Permanent Magnet Motor Market is expected to grow from USD 54.708 billion in 2025 to USD 82.471 billion in 2030, at a CAGR of 8.56%.
Permanent magnet motors are in high demand due to their efficiency and throughput. These motors have many uses, from massive PM synchronous motors for ship propulsion to stepping motors for wristwatches and industrial motors for machine tools. Further, electric cars are predicted to accelerate market growth over the forecast period. Global demand is also anticipated to increase as top automakers increasingly incorporate permanent magnet motors into EVs, fueling the market's expansion throughout the projected period. The rising demand for HVAC units is also projected to impact the market positively.
There is an increase in the industrial demand for motors that promise energy efficiency, especially in automotive, which is simultaneously driving permanent magnet motors adoption. These motors are very effective and can deliver a lot of power and torque in a small package. They are also easily connected with batteries due to their widespread use in numerous applications. They are beneficial in numerous new sectors and applications because of their tiny size and battery-operable nature, including drones, regenerative brakes, power tools, etc. Further, permanent magnet motors are used in many different automotive parts, such as windows, blowers for air conditioning and heaters, drives, and discs for personal computers, and small power rating devices like toys and miniature robots.
The market growth is anticipated to be aided by rising permanent magnet direct current motors deployment in electric vehicles and rising investments from key companies like Tesla Motors. Further, the market is experiencing many changes as nations seek to use electric vehicles more due to a growing emphasis on a sustainable future.
The permanent magnet motor also forms a major role in robot manufacturing. With the growing industrial automation in China, robotics installation has shown a significant increase in the country, which is expected to propel further the market demand for permanent magnet motors.
The bolstering growth observed across end-user industries, coupled with favourable government initiatives to enhance rare earth magnet mining, has provided a positive outlook on the demand for permanent magnet motors. The booming electric vehicle adoption in China has also been driving the permanent magnet motor demand in the country as they are used in EV traction drive systems.
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