Permanent Magnet Synchronous Motor (PMSM) Market to Escalate with a Notable Growth by 2022

Permanent Magnet Synchronous Motor Market Opportunity Analysis and Industry Forecast, 2016-2023

Global Opportunity Analysis and Industry Forecast, 2013-2020

Introduction •

Permanent Magnet Synchronous Motor (PMSM) Market is expected to garner $31.1 billion by 2022, registering a CAGR of 10.9% during the forecast period 2016-2022

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The market is expected to exhibit the fastest revenue growth, owing to the increased applications of PMSM in the automation sector, decreased prices of raw materials, and technological advancements in the region

PMSMs are widely used in automation, consumer electronics, medical and lab equipment, and automotive amongst others

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PMSMs within the voltage range of 21V30V are anticipated to be the leading revenue generators

• Geographically, the PMSM market is segmented into North America, Europe, AsiaPacific, and LAMEA

Key Factors of the Market •

Use of permanent magnets in motors improves the efficiency of motor approximately by 10%, owing to which permanent magnet synchronous motors (PMSMs) are used in varied applications

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Low power consumption and improved performance capabilities are advantages associated with the use of permanent magnets in the motors due to which these motors are used in green vehicles to reduce the fuel

combustion

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Permanent magnets used in motors provide various advantages such as low energy consumption and high-operating efficiency

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The unique characteristics of permanent magnets is ultimately increasing its usage in all types of AC electric motors, which would boost the growth of the PMSM market

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Key Benefits of the Market •

The automation sector is expected to lead the market during the forecast period, attributed to high efficiency, compact size, high power, and high torque-to-inertia ratio that PMSM provides

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PMSMs with voltage range 9V and below is expected to be the fastest growing product segment, in terms of revenue

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LAMEA is expected to register the highest growth over the forecast period

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Industry participants focus on introducing new products and acquisitions to strengthen their market share

Market Segmentation

By Voltage Range • Above 60V • 41V60V • 31V40V • 21V30V • 10V20V • 9V and below

By Geography • North America • Europe • Asia-Pacific • LAMEA

By Application • Automation • Consumer Electronics • Residential & Commercial • Automotive & Transportation • Lab Equipment • Medical • Military/Aerospace

Key Players of the Market • • • • • •

DRS Technologies Emerson General Electric Siemens AG Mitsubishi Electric Corporation and Toshiba Corp.

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