Global Permanent Magnet Synchronous Motor Market Report 2023

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24 Aug, 2023, 19:00 ET

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DUBLIN, Aug. 24, 2023 /PRNewswire/ -- The "Permanent Magnet Synchronous Motor (PMSM) Global Market Report 2023" has been added to ResearchAndMarkets.com's offering.

The global PMSM market demonstrated strong growth, expanding from $23.77 billion in 2022 to $27.44 billion in 2023, boasting a robust Compound Annual Growth Rate (CAGR) of 15.5%. The market is expected to further flourish, reaching $48.6 billion by 2027, exhibiting a CAGR of 15.4%.

Navigating the Permanent Magnet Synchronous Motor Landscape

The PMSM market encompasses sales of rotor, stator, and induction motor components. The market values provided reflect "factory gate" values, encompassing goods sold by manufacturers or creators to downstream entities, retailers, distributors, and end customers. The market valuation also includes related services offered by goods creators.

The Power of Permanent Magnet Synchronous Motors

PMSMs serve as high-efficiency and high-performance motor drives, utilizing field excitation from permanent magnets and featuring sinusoidal back Electromotive Force (EMF) waveforms. These motors can generate torque even at zero speed, requiring digitally controlled inverters for operations involving permanent magnets.

Regional Dominance and Growth Prospects

Asia-Pacific emerged as the largest PMSM market region in 2022, expected to maintain its momentum as the fastest-growing region throughout the forecast period. Other regions covered include Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation and Applications

The PMSM market offers a diverse range of product types and applications, including:

Driving Forces: Green Vehicles and Technological Advancements

The emergence of green vehicles is a significant driver fueling the PMSM market's growth. The rising demand for eco-friendly and fuel-efficient vehicles is propelling the demand for PMSMs, contributing to the industry's expansion. Additionally, technological advancements play a pivotal role, with companies focusing on enhancing PM manufacturing technologies to boost efficiency and output power.

Leading Industry Players

The major players in the PMSM market include

The Permanent Magnet Synchronous Motor (PMSM) Global Market Report 2023 dives deep into various facets of the market, including:

Key Attributes:

Report Attribute

Details

No. of Pages

200

Forecast Period

2023 - 2027

Estimated Market Value (USD) in 2023

$27.44 billion

Forecasted Market Value (USD) by 2027

$48.6 billion

Compound Annual Growth Rate

15.4 %

Regions Covered

Global

For more information about this report visit https://www.researchandmarkets.com/r/qeears

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SOURCE Research and Markets