Permanent Magnet Synchronous Motor Market Size, Share, Industry Trends and Forecast to 2033
This report provides an in-depth analysis of the Permanent Magnet Synchronous Motor market from 2023 to 2033, covering market size, industry dynamics, regional insights, and forecasts to assist stakeholders in strategic planning.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $15.30 Billion |
| CAGR (2023-2033) | 8.2% |
| 2033 Market Size | $34.49 Billion |
| Top Companies | Siemens AG, ABB Ltd., Rockwell Automation Inc., Mitsubishi Electric Corporation, Emerson Electric Co. |
| Last Modified Date | 15 November 2024 |
Permanent Magnet Synchronous Motor Market Overview
What is the Market Size & CAGR of Permanent Magnet Synchronous Motor market?
Permanent Magnet Synchronous Motor Industry Analysis
Permanent Magnet Synchronous Motor Market Segmentation and Scope
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Permanent Magnet Synchronous Motor Market Analysis Report by Region
Europe Permanent Magnet Synchronous Motor Market Report:
Europe's market, valued at $3.72 billion in 2023, is anticipated to grow to $8.39 billion by 2033. Stringent regulations promoting energy efficiency and extensive investments in electric mobility are driving this trend.Asia Pacific Permanent Magnet Synchronous Motor Market Report:
The Asia Pacific region held a market value of $3.24 billion in 2023, projected to reach $7.30 billion by 2033. This growth is primarily driven by escalating industrialization, infrastructure development, and increasing demand for energy-efficient solutions.North America Permanent Magnet Synchronous Motor Market Report:
North America accounted for $5.60 billion in 2023, with projections of $12.63 billion by 2033. The presence of key industry players and an increase in electric vehicle production are significant contributors to this growth.South America Permanent Magnet Synchronous Motor Market Report:
In South America, the market is expected to grow from $1.11 billion in 2023 to $2.50 billion by 2033. The expansion is influenced by rising investments in renewable energy projects and a growing manufacturing sector.Middle East & Africa Permanent Magnet Synchronous Motor Market Report:
The Middle East and Africa market is expected to escalate from $1.62 billion in 2023 to $3.66 billion by 2033, with increasing industrial activities and a shift towards automation driving demand.Request a custom research report for industry.
Permanent Magnet Synchronous Motor Market Analysis By Type
Global Permanent Magnet Synchronous Motor Market, By Type Market Analysis (2024 - 2033)
The market is segmented into Surface Mounted PMSMs and Embedded PMSMs. Surface Mounted PMSMs dominate the market with a size of $10.24 billion in 2023, projected to grow to $23.08 billion by 2033, holding 66.92% market share throughout this period. Embedded PMSMs, meanwhile, are anticipated to expand from $3.38 billion to $7.62 billion, capturing 22.09% market share.
Permanent Magnet Synchronous Motor Market Analysis By Application
Global Permanent Magnet Synchronous Motor Market, By Application Market Analysis (2024 - 2033)
In terms of applications, the manufacturing industry leads with a market valuation of $6.73 billion in 2023, expected to reach $15.17 billion by 2033 (43.98% share). The transportation segment follows closely, moving from $3.82 billion to $8.62 billion (24.99% share) over the same period.
Permanent Magnet Synchronous Motor Market Analysis By Technology
Global Permanent Magnet Synchronous Motor Market, By Technology Market Analysis (2024 - 2033)
Technological advancements have led to the development of two main types of PMSM: Sensored and Sensorless. Sensored PMSMs will command a significant market size of $12.93 billion in 2023, growing to $29.15 billion by 2033 (84.52% share). Sensorless motors will also see an increase from $2.37 billion to $5.34 billion, maintaining a 15.48% market share.
Permanent Magnet Synchronous Motor Market Analysis By Configuration
Global Permanent Magnet Synchronous Motor Market, By Configuration Market Analysis (2024 - 2033)
The market for Single Phase Synchronous Motors is represented with an impressive size of $12.93 billion in 2023, likely increasing to $29.15 billion by 2033 (84.52% share). Three Phase Synchronous Motors, meanwhile, will see growth from $2.37 billion to $5.34 billion, keeping a market share of 15.48%.
Permanent Magnet Synchronous Motor Market Analysis By End User
Global Permanent Magnet Synchronous Motor Market, By End-User Industry Market Analysis (2024 - 2033)
Key end-user sectors include industrial automation, automotive, and aerospace. The industrial automation segment will dominate with a current value of $6.73 billion, projected to grow to $15.17 billion (43.98% share). Meanwhile, the automotive sector will increase from $3.82 billion to $8.62 billion, holding 24.99% share by 2033.
Permanent Magnet Synchronous Motor Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Permanent Magnet Synchronous Motor Industry
Siemens AG:
Siemens AG is a global leader in electrical engineering and electronics, particularly recognized for its efficient motor solutions and contributions to the electric mobility sector.ABB Ltd.:
ABB Ltd. offers comprehensive products and services related to power and automation technologies, emphasizing innovation in electric motors and drives.Rockwell Automation Inc.:
Rockwell Automation integrates control and information across industrial operations, focusing on advanced motor technologies and performance improvements.Mitsubishi Electric Corporation:
Mitsubishi Electric is actively involved in the research and development of PMSMs, aiming to deliver energy-efficient and reliable motor solutions.Emerson Electric Co.:
Emerson Electric provides a broad spectrum of automation solutions, including PMSMs, to enhance operational efficiency in various industries.We're grateful to work with incredible clients.
Related Industries
FAQs
What is the market size of permanent Magnet Synchronous Motor?
The permanent magnet synchronous motor market is projected to reach approximately $15.3 billion by 2033, growing at a CAGR of 8.2%. This growth is driven by the increasing demand for energy-efficient solutions across various industries.
What are the key market players or companies in this permanent Magnet Synchronous Motor industry?
Key players in the permanent magnet synchronous motor industry include global leaders engaged in technology advancement and manufacturing, addressing a spectrum of applications. Major companies often include Siemens, Schneider Electric, and ABB among others.
What are the primary factors driving the growth in the permanent Magnet Synchronous Motor industry?
The growth in the permanent magnet synchronous motor market is propelled by rising energy efficiency requirements, advancements in automotive technologies, and increasing reliance on automation in manufacturing processes. These factors collectively enhance market potential.
Which region is the fastest Growing in the permanent Magnet Synchronous Motor?
The fastest-growing region for permanent magnet synchronous motors is forecasted to be North America, experiencing growth from $5.60 billion in 2023 to $12.63 billion by 2033, influenced by robust industrial and automotive sectors.
Does ConsaInsights provide customized market report data for the permanent Magnet Synchronous Motor industry?
Yes, ConsaInsights offers tailored market report data for the permanent magnet synchronous motor industry. Customers can receive insights specific to their business needs, including custom reports to address unique market questions.
What deliverables can I expect from this permanent Magnet Synchronous Motor market research project?
Deliverables from a market research project on permanent magnet synchronous motors typically include detailed industry reports, market forecasts, competitive analysis, and insights on market trends, catering to both strategic and operational needs.
What are the market trends of permanent Magnet Synchronous Motor?
Key market trends in permanent magnet synchronous motors include increasing adoption of electric vehicles, a shift towards automation in industries, and advancements in motor technologies leading to enhanced efficiency and performance in various sectors.