Permanent Magnet Synchronous Motor (PMSM) Market Report 2026

The permanent magnet synchronous motor (pmsm) market size has grown strongly in recent years. It will grow from $28.83 billion in 2025 to $31.14 billion in 2026 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to early use in industrial automation, reliance on conventional ac motors, adoption in laboratory and medical equipment, growth in residential hvac systems, initial demand from transportation applications.

The permanent magnet synchronous motor (pmsm) market size is expected to see strong growth in the next few years. It will grow to $41.96 billion in 2030 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increasing deployment in ev powertrains, rising adoption in robotics and automation, expansion of high-efficiency motor standards, development of compact high-torque motors, integration with advanced inverter technologies. Major trends in the forecast period include integration of digitally controlled motor drives, adoption of high-efficiency electric traction systems, expansion of smart industrial motor platforms, development of IoT-connected motor monitoring, advancement of autonomous motor control technologies.

The permanent magnet synchronous motor (PMSM) market is poised for expansion due to the escalating construction spending. Construction projects, involving infrastructure and facility development, utilize PMSMs in construction equipment for precise speed and torque control. In August 2023, the U.S. Census Bureau reported an estimated seasonally adjusted annual rate for construction expenditure in the U.S. at $1.98 trillion, reflecting a 0.5% increase from the previous month. This growing investment in construction is a key driver for the permanent magnet synchronous motor market.

Companies operating in the permanent magnet synchronous motor (PMSM) market are focusing on developing innovative solutions, such as next-generation high-efficiency permanent magnet synchronous motors, to meet the rising demand for higher power density, improved energy efficiency, and gearless direct-drive systems across automotive and industrial sectors. These advanced PMSMs utilize enhanced magnet materials and manufacturing processes, delivering superior torque output, reduced energy losses, and more compact designs compared with traditional induction motors or gear-based mechanical transmission systems. For example, in August 2024, Mahindra Last Mile Mobility Limited (MLMML), an India-based manufacturer of electric three- and four-wheelers, introduced the e-Alfa Plus electric rickshaw powered by an advanced PMSM. The motor provides 1.95 kW of peak power and 26.9 Nm of maximum torque, enabling a real-world driving range of more than 100 km on a single charge. Designed for reliability and safety, the vehicle includes an advanced braking system, an 18-month warranty, and a three-year accidental insurance policy, making it a durable mobility solution for both urban and rural applications.

In September 2024, WEG S.A., a Brazil-based provider of electric motors, generators, transformers, and industrial coatings and control systems, acquired Volt Electric Motors for an undisclosed amount. Through this acquisition, WEG strategically expanded its industrial and commercial motor business in Europe and Asia by immediately gaining a strong regional manufacturing presence and a portfolio of low-voltage and medium-voltage electric motors, including permanent magnet synchronous motor (PMSM) designs. Volt Electric Motors is a Turkey-based provider of a broad range of electric motors, including asynchronous, synchronous, and permanent magnet motor technologies, with a substantial annual production capacity of up to 1 million motors.

Major companies operating in the permanent magnet synchronous motor (pmsm) market are Siemens AG, Mitsubishi Electric Corporation, Toshiba Corp., Hitachi Ltd., Asea Brown Boveri Ltd., Robert Bosch GmbH, Meidensha Corporation, Continental AG, Alstom SA, Zhongshan Broad-Ocean Motor Co Ltd, Xizi Forvorda, DRS Technologies Inc., Emerson Electric Co, Johnson Electric Holdings Limited, Nidec Motor Corporation, AMETEK Inc., ARC Systems Inc., Bühler Motor GmbH, Danaher Corporation, Dunkermotoren GmbH, Dr. Fritz Faulhaber GmbH & Co. KG, Fuji Electric Co. Ltd., General Electric Company, Maxon Motor AG, Moog Inc., Oriental Motor Co. Ltd., Parker Hannifin Corporation, Regal Beloit Corporation, Rockwell Automation Inc., Schneider Electric SE, Sumitomo Heavy Industries Ltd., WEG S.A., Yaskawa Electric Corporation.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have influenced the permanent magnet synchronous motor (PMSM) market by raising costs for imported rare-earth magnets, electronic components, and inverter materials essential for motor manufacturing. Automotive, industrial automation, and robotics segments in Asia-Pacific, Europe, and North America are most affected due to reliance on cross-border sourcing of precision parts. However, tariffs are also encouraging regional magnet processing, localized motor assembly, and development of alternative magnetic materials, strengthening long-term supply chain resilience and supporting innovation in high-efficiency motor technologies.

The permanent magnet synchronous motor (PMSM)s research report is one of a series of new reports that provides permanent magnet synchronous motor (PMSM)s statistics, including global market size, regional shares, competitors with permanent magnet synchronous motor (PMSM)s share, detailed permanent magnet synchronous motor (PMSM)s segments, market trends and opportunities, and any further data you may need to thrive in the permanent magnet synchronous motor (PMSM)s industry. This permanent magnet synchronous motor (PMSM) research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The Permanent Magnet Synchronous Motor (PMSM) is utilized for high-efficiency and high-performance motor drives. This type of motor is an AC synchronous motor in which the field excitation is provided by permanent magnets, resulting in a sinusoidal back EMF (electromotive force) waveform. PMSM can generate torque even at zero speed, but its operation with permanent magnets requires a digitally controlled inverter.

The main types of Permanent Magnet Synchronous Motors available in the market are surface and interior types. The surface PMSM consists of a brushless DC motor with a surface permanent magnet. Permanent Magnet Synchronous Motors come in various capacities, including 375-450 kW, 450-600 kW, and above 600 kW. They are available in different voltage types, such as above 60V, 41V-60V, 31V-40V, 21V-30V, 10V-20V, and 9V and below. These motors find applications in various industries, including automation, consumer electronics, residential and commercial sectors, automotive and transportation, lab equipment, medical, and military and aerospace.Asia-Pacific was the largest region in the permanent magnet synchronous (PMSM) market in 2025 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the permanent magnet synchronous motor (pmsm) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the permanent magnet synchronous motor (pmsm) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The permanent magnet synchronous motor market consists of sales of rotor, stator, induction motor. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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