{"id":459414,"date":"2020-01-03T06:34:02","date_gmt":"2020-01-03T06:34:02","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=459414"},"modified":"2020-01-03T06:34:02","modified_gmt":"2020-01-03T06:34:02","slug":"permanent-magnet-motor-market-2020-global-trends-analysis-by-type-power-rating-enduser-growth-factor-regional-trends-future-scope-and-forecast-to-2023","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/permanent-magnet-motor-market-2020-global-trends-analysis-by-type-power-rating-enduser-growth-factor-regional-trends-future-scope-and-forecast-to-2023_459414.html","title":{"rendered":"Permanent Magnet Motor Market 2020 | Global Trends, Analysis by Type, Power Rating, End-User, Growth Factor, Regional Trends, Future Scope and Forecast to 2023"},"content":{"rendered":"
\"Permanent<\/a><\/p>\n
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Permanent Magnet Motor Market<\/div>\n<\/div>\n<\/div>\n
Global Permanent Magnet Motor Market 2020 research report is a professional and in-depth study on the market size, growth, share, trends, as well as industry analysis. Global Permanent Magnet Motor Market Research Report: Information by Type (PMAC, PMDC, & Brushless DC), Power Rating (Up to 25kW, 25-100kW, 100-300kW, and 300kW & Above), End-User (Industrial, Commercial & Residential, & Healthcare), and Regions\u2013 Forecast till 2023<\/div>\n

Global Permanent Magnet Motor Market – Overview<\/strong><\/p>\n

The global permanent magnet motor market is expected to exhibit a strong 8.7% CAGR over the forecast period from 2017 to 2023 due to the growing demand for permanent magnet motors in electric vehicles, according to the latest research report from Market Research Future (MRFR).<\/p>\n

The growing acknowledgment of the benefits of permanent magnet motors over conventional induction motors has resulted in a growing demand for permanent magnet motors from the automotive industry. The report presents a detailed forecast for the global permanent magnet motor based on a comprehensive historical review of the market’s growth trajectory. The major drivers and restraints affecting the global permanent magnet motor market are also profiled in the report to provide readers with a complete overview of the major motivators of the permanent magnet motor market.<\/p>\n

Get Free Sample Copy @<\/strong> https:\/\/www.marketresearchfuture.com\/sample_request\/6991<\/a><\/strong><\/p>\n

Drivers and Restraints<\/strong><\/p>\n

Global permanent magnet motor market is slated to witness a high growth during the forecast period due to the growing demand for energy efficient and low-cost maintenance motors. For example, according to India Brand Equity foundation (IBEF), consumer electrical industry in India is expected to reach a market value USD 46.54 billion by 2020. This would positively influence the growth of permanent magnet motor market. Permanent magnet motors have several advantages such as high power density, high efficiency, and ease of control. Moreover, there is low mechanical friction losses owing to the absence of mechanical commutators and brushes. The signficant advantages of permanent magnet motor is its efficiency, compact size, and no requirement of cooling fan.   <\/p>\n

Industry Highlights<\/strong><\/p>\n

Permanent magnet motors use permanent magnets rather than winding in the field. This gives them a number of advantages such as higher power density, higher power efficiency, and easier control. The absence of mechanical commutators and brushes also ensures a lack of friction, further increasing the efficiency of permanent magnet motors<\/a><\/strong>. The higher energy efficiency and density of permanent magnet motors has resulted in increased preference for these type of motors over conventional induction motors. The industrial sector has been a major consumer of permanent magnet motors over the last few years and is likely to retain a leading share in the market over the forecast period due to the growing demand for power-efficient electric motors in the sector.<\/p>\n

The growing demand for electric vehicles is likely to be the major driver for the global permanent magnet motors market over the forecast period. Electric vehicle manufacturers are increasingly focusing on developing more efficient batteries providing longer operation times due to the need for ensuring a competitive mileage performance in comparison to traditional fossil fuel-powered automobiles. The rising need for electric vehicles that cater to the real world needs of consumers by providing high mileage figures is likely to be a major driver for the permanent motor magnet market over the forecast period.<\/p>\n

Segmental Analysis<\/strong><\/p>\n

Global market for permanent magnet motor has been segmented based on power rating, type, end-user, and region.<\/p>\n

By Type<\/strong><\/p>\n