Product Code: PM5862
The global permanent magnet motor market size is expected to reach USD 130.08 billion by 2034, according to a new study by Polaris Market Research. The report "Permanent Magnet Motor Market Size, Share, Trends & Industry Analysis Report: By Type (Permanent Magnet AC Motor, Permanent Magnet DC Motor, and Brushless DC Motor), By Power Rating, By End Use, and By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The permanent magnet motor industry focuses on the development, production, and sale of electric motors that use permanent magnets to generate a magnetic field. Unlike traditional motors that rely solely on electrical currents to create this field, permanent magnet motors leverage the constant magnetic properties of materials like rare-earth elements. This design results in superior energy efficiency, higher power density, and a more compact form factor, making them highly desirable across a wide range of applications.
Overall, the permanent magnet motor industry is experiencing robust growth driven by a global shift towards energy-efficient technologies and increasing demand for electric mobility. These motors are becoming essential components in electric vehicles, industrial automation, robotics, and various consumer appliances due to their ability to deliver high performance while consuming less energy. Continuous innovation in magnet materials and motor control systems further enhances their appeal, leading to broader adoption across diverse sectors aiming for higher operational efficiency and reduced environmental impact.
Permanent Magnet Motor Market Report Highlights:
By type, the permanent magnet AC motor held the largest share in 2024 due to its widespread adoption across various applications that demand high efficiency, precise control, and robust performance.
By power rating, the segment for motors with power ratings up to 25 KW held the largest share in 2024 the industry because these smaller motors are essential components in a vast array of everyday consumer appliances, light industrial machinery, and small-scale automation.
By end use industry, the industrial sector held the largest share in 2024 for permanent magnet motors, largely due to the increasing need for highly efficient and reliable motors in factory automation, robotics, and various industrial equipment.
By region, Asia Pacific held the largest share in 2024 in the permanent magnet motor industry. This is primarily attributed to rapid industrialization, substantial investments in electric vehicle manufacturing, and significant developments in renewable energy projects across countries like China, Japan, and India. North America is a significant region in the permanent magnet motor industry, driven by robust industrial growth, increasing adoption of electric vehicles, and a strong focus on energy-efficient solutions.
Key players in the market include ABB Ltd., Siemens AG, NIDEC CORPORATION, Wolong Electric Group Co. Ltd., WEG S.A., Toshiba Corporation, Rockwell Automation, Inc., Johnson Electric Holdings Limited, Yaskawa Electric Corporation, and Allied Motion Technologies Inc.
Polaris Market Research has segmented the Permanent Magnet Motor market report based on type, power rating, end use, and region:
By Type Outlook (Revenue - USD Billion, 2020-2034)
Permanent Magnet AC Motor
Permanent Magnet DC Motor
Brushless DC Motor
By Power Rating Outlook (Revenue - USD Billion, 2020-2034)
Upto 25KW
25-100 KW
100-300KW
300KW & Above
By End Use Industry Outlook (Revenue - USD Billion, 2020-2034)
Industrial
Commercial & Residential
Others
By Regional Outlook (Revenue - USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia-Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Source
- 3.2.1. Primary Source
- 3.2.2. Secondary Source
4. Global Permanent Magnet Motor Market Insights
- 4.1. Permanent Magnet Motor Market - Market Snapshot
- 4.2. Permanent Magnet Motor Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing Adoption of Electric Vehicles
- 4.2.1.2. Increasing Focus on Energy Efficiency and Stricter Regulations
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Volatile prices and limited availability of rare earth materials
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Permanent Magnet Motor Market Application Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Permanent Magnet Motor Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 5.3. Permanent Magnet AC Motor
- 5.3.1. Global Permanent Magnet Motor Market, by Permanent Magnet AC Motor, by Region, 2020-2034 (USD Billion)
- 5.4. Permanent Magnet DC Motor
- 5.4.1. Global Permanent Magnet Motor Market, by Permanent Magnet DC Motor, by Region, 2020-2034 (USD Billion)
- 5.5. Brushless DC Motor
- 5.5.1. Global Permanent Magnet Motor Market, by Brushless DC Motor, by Region, 2020-2034 (USD Billion)
6. Global Permanent Magnet Motor Market, by Power Rating
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 6.3. Upto 25KW
- 6.3.1. Global Permanent Magnet Motor Market, by Upto 25KW, by Region, 2020-2034 (USD Billion)
- 6.4. 25-100 KW
- 6.4.1. Global Permanent Magnet Motor Market, by 25-100 KW, by Region, 2020-2034 (USD Billion)
- 6.5. 100-300KW
- 6.5.1. Global Permanent Magnet Motor Market, by 100-300KW, by Region, 2020-2034 (USD Billion)
- 6.6. 300KW & Above
- 6.6.1. Global Permanent Magnet Motor Market, by 300KW & Above, by Region, 2020-2034 (USD Billion)
7. Global Permanent Magnet Motor Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 7.3. Industrial
- 7.3.1. Global Permanent Magnet Motor Market, by Industrial, by Region, 2020-2034 (USD Billion)
- 7.4. Commercial & Residential
- 7.4.1. Global Permanent Magnet Motor Market, by Commercial & Residential, by Region, 2020-2034 (USD Billion)
- 7.5. Others
- 7.5.1. Global Permanent Magnet Motor Market, by Others, by Region, 2020-2034 (USD Billion)
8. Global Permanent Magnet Motor Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Permanent Magnet Motor Market Assessment, By Geography, 2020-2034 (USD Billion)
- 8.3. Permanent Magnet Motor Market - North America
- 8.3.1. North America: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.3.2. North America: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.3.3. North America: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.3.4. Permanent Magnet Motor Market - U.S.
- 8.3.4.1. U.S.: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.3.4.2. U.S.: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.3.4.3. U.S.: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.3.5. Permanent Magnet Motor Market - Canada
- 8.3.5.1. Canada: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.3.5.2. Canada: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.3.5.3. Canada: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4. Permanent Magnet Motor Market - Europe
- 8.4.1. Europe: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.2. Europe: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.3. Europe: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.4. Permanent Magnet Motor Market - UK
- 8.4.4.1. UK: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.4.2. UK: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.4.3. UK: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.5. Permanent Magnet Motor Market - France
- 8.4.5.1. France: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.5.2. France: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.5.3. France: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.6. Permanent Magnet Motor Market - Germany
- 8.4.6.1. Germany: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.6.2. Germany: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.6.3. Germany: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.7. Permanent Magnet Motor Market - Italy
- 8.4.7.1. Italy: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.7.2. Italy: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.7.3. Italy: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.8. Permanent Magnet Motor Market - Spain
- 8.4.8.1. Spain: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.8.2. Spain: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.8.3. Spain: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.9. Permanent Magnet Motor Market - Netherlands
- 8.4.9.1. Netherlands: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.9.2. Netherlands: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.9.3. Netherlands: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.10. Permanent Magnet Motor Market - Russia
- 8.4.10.1. Russia: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.10.2. Russia: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.10.3. Russia: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.4.11. Permanent Magnet Motor Market - Rest of Europe
- 8.4.11.1. Rest of Europe: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.4.11.2. Rest of Europe: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.4.11.3. Rest of Europe: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5. Permanent Magnet Motor Market - Asia Pacific
- 8.5.1. Asia Pacific: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.4. Permanent Magnet Motor Market - China
- 8.5.4.1. China: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.4.2. China: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.4.3. China: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.5. Permanent Magnet Motor Market - India
- 8.5.5.1. India: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.5.2. India: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.5.3. India: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.6. Permanent Magnet Motor Market - Malaysia
- 8.5.6.1. Malaysia: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.6.2. Malaysia: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.6.3. Malaysia: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.7. Permanent Magnet Motor Market - Japan
- 8.5.7.1. Japan: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.7.2. Japan: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.7.3. Japan: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.8. Permanent Magnet Motor Market - Indonesia
- 8.5.8.1. Indonesia: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.8.2. Indonesia: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.8.3. Indonesia: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.9. Permanent Magnet Motor Market - South Korea
- 8.5.9.1. South Korea: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.9.2. South Korea: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.9.3. South Korea: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.10. Permanent Magnet Motor Market - Australia
- 8.5.10.1. Australia: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.10.2. Australia: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.10.3. Australia: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.5.11. Permanent Magnet Motor Market - Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.5.11.2. Rest of Asia Pacific: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.5.11.3. Rest of Asia Pacific: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.6. Permanent Magnet Motor Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.6.4. Permanent Magnet Motor Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.6.4.2. Saudi Arabia: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.6.4.3. Saudi Arabia: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.6.5. Permanent Magnet Motor Market - UAE
- 8.6.5.1. UAE: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.6.5.2. UAE: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.6.5.3. UAE: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.6.6. Permanent Magnet Motor Market - Israel
- 8.6.6.1. Israel: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.6.6.2. Israel: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.6.6.3. Israel: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.6.7. Permanent Magnet Motor Market - South Africa
- 8.6.7.1. South Africa: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.6.7.2. South Africa: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.6.7.3. South Africa: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.6.8. Permanent Magnet Motor Market - Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.6.8.2. Rest of Middle East & Africa: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.6.8.3. Rest of Middle East & Africa: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.7. Permanent Magnet Motor Market - Latin America
- 8.7.1. Latin America: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.7.4. Permanent Magnet Motor Market - Mexico
- 8.7.4.1. Mexico: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.7.4.2. Mexico: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.7.4.3. Mexico: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.7.5. Permanent Magnet Motor Market - Brazil
- 8.7.5.1. Brazil: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.7.5.2. Brazil: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.7.5.3. Brazil: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.7.6. Permanent Magnet Motor Market - Argentina
- 8.7.6.1. Argentina: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.7.6.2. Argentina: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.7.6.3. Argentina: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
- 8.7.7. Permanent Magnet Motor Market - Rest of Latin America
- 8.7.7.1. Rest of Latin America: Permanent Magnet Motor Market, by Type, 2020-2034 (USD Billion)
- 8.7.7.2. Rest of Latin America: Permanent Magnet Motor Market, by Power Rating, 2020-2034 (USD Billion)
- 8.7.7.3. Rest of Latin America: Permanent Magnet Motor Market, by End Use, 2020-2034 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. ABB Ltd.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Allied Motion Technologies Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Johnson Electric Holdings Limited
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. NIDEC CORPORATION
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Rockwell Automation, Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Siemens AG
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Toshiba Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. WEG S.A.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Wolong Electric Group Co. Ltd.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Yaskawa Electric Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development