Permanent Magnet Motor Market Segmentation:
Motor Type Segment Analysis
The PMAC segment of the permanent magnet motor market is projected to hold a dominant 45.2% revenue share by the end of 2035. The growth is fueled by their energy efficiency and torque density, which make them ideal for EVs and industrial applications. A 28-horsepower motor powering a 25-ton centrifugal compressor would save roughly 9000 kWh annually, resulting in 10% to 15% energy savings due to improved motor and electronics efficiency. Organizations should seek ways to leverage the opportunities to design competitively priced PMAC products that bridge the performance gaps.
Magnetic Material Type Segment Analysis
The NdFeB segment is poised to account for a major revenue share in the market due to their higher magnetic power and applications in high-power-density uses such as EVs and wind turbines. Approximately 93% of the current market for NdFeB magnets is for sintered magnets. NdFeB magnets consist of about 69% iron, 1% boron, and 30% rare earth metals (Nd, Pr, Dy) with small additions of Co, Al, Tb, and Ho. Many businesses are stepping into the innovation of recycling used rare-earth products with existing rare-earth-free magnets. The most prominent Asia Pacific businesses dominate the market on account of their access to raw materials in China.
End use Industry Segment Analysis
The automotive segment of the permanent magnet motor market is projected to hold a significant revenue share by the end of 2035. Mainly due to the significant global adoption of electric vehicles (EVs). PMMs are appealing for use in EV propulsion due to their high efficiency, compact size, and high torque. The fleet of electric cars had grown to about 58 million by the end of 2024, accounting for over three times the number of electric cars in 2021 and roughly 4% of all passenger cars. The automotive sub-segment is enhanced by government subsidies for EVs, stringent emission regulations, and increased consumer demand for sustainable transport options.
Our in-depth analysis of the permanent magnet motor market includes the following segments:
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Subsegments |
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Motor Type |
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Magnetic Material Type
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Cooling Method |
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Power Rating |
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End-Use Industry |
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