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Permanent Magnet Motor Market Report and Forecast 2025-2034

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    Report

  • 154 Pages
  • August 2025
  • Region: Global
  • Expert Market Research
  • ID: 6172694
The global permanent magnet motor market attained a value of about USD 58.56 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 10.00% to reach nearly USD 151.89 Billion by 2034.

Rising Demand for Permanent Magnet Motors in the Automotive Sector Bolstering the Market Growth

The rising demand for permanent magnet motors in the automotive sector is fuelling the growth of the market. As the concerns regarding rapid climate change and the depletion of natural resources are surging, permanent magnet motors are deployed in various parts of automobiles, such as car windshield wipers, to provide high voltage through electric energy. In addition, the use of such motors boosts operational efficiency while eliminating extensive greenhouse emissions in automobiles. Hence, the growing demand for luxury cars with enhanced fuel efficiency and automation is boosting the deployment of permanent magnet motors, thus adding to the market growth.

The increasing demand for electric vehicles is bolstering the deployment of permanent magnet motors. The growing use of AC permanent magnet motors in engines of electric vehicles (EV) is further expected to drive the market growth. Furthermore, the introduction of various research activities by the leading companies to develop cost-effective magnets with enhanced operational efficiency is estimated to fuel the growth of the permanent magnet motor industry.

Permanent Magnet Motor: Market Segmentation

A permanent magnet motor is an electric motor that utilises magnets to convert mechanical energy into electrical energy. It is portable in size, cost-effective, and provide enhanced operational efficiency. Moreover, a permanent magnet motor can be manufactured rapidly and cost-effectively, due to which it is used in various automotive and industrial applications.

The major motor types of permanent magnet motor are:

  • AC Motors
  • DC Motors
  • Hermetic Motors

The market can be broadly categorised on the basis of its magnet types into:

  • Neodymium
  • Samarium Cobalt
  • Ferrite
  • Others

Based on power range, the market is divided into:

  • 4.0 kW and Below
  • Between 4.0 to 22.0 kW
  • Between 22.0 to 75.0 kW
  • 75.0 kW and Above

By end-users, the market is categorised into:

  • Automotive
  • General Industrial
  • Energy
  • Water and Wastewater Management
  • Mining, Oil, and Gas
  • Aerospace and Defence
  • Others

The report looks into the regional markets of permanent magnet motor like:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Rising Demand for Permanent Magnet Motor in the Energy Sector to Augment the Market Growth

The rising demand for alternative energy sources is surging the deployment of wind turbines, which, in turn, is increasing the use of permanent magnet motors. As permanent magnet motors efficiently convert mechanical energy into electrical energy, they are increasingly deployed in generators of wind turbines. Moreover, the initiation of various research and development (R&D) activities for advancements in wind energy is increasing the use of permanent magnet motors, which is bolstering the growth of the market.

The development of innovative permanent magnet motors that maintain a constant speed while avoiding slippage is expected to augment the market growth. In addition, the cost-effectiveness, ease of installation, fuel efficiency, and low density offered by such motors are projected to propel the growth of the market. Various leading companies are also attempting to develop motors that solely utilise permanent magnets to generate magnetic force for rotors and generators. Hence, their surging demand is estimated to fuel the growth of the permanent magnet motor industry in the forecast period.

Key Industry Players in the Global Permanent Magnet Motor Market

The report presents a detailed analysis of the following key players in the global permanent magnet motor market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
  • ABB Ltd.
  • Rockwell Automation, Inc.
  • Siemens AG
  • Franklin Electric Co., Inc.
  • Allied Motion, Inc.
  • Nidec Motor Corporation
  • Others
The comprehensive report looks into the macro and micro aspects of the industry. The report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Table of Contents

1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Permanent Magnet Motor Market Analysis
5.1 Key Industry Highlights
5.2 Global Permanent Magnet Motor Historical Market (2018-2024)
5.3 Global Permanent Magnet Motor Market Forecast (2025-2034)
5.4 Global Permanent Magnet Motor Market by Motor Type
5.4.1 AC Motors
5.4.1.1 Historical Trend (2018-2024)
5.4.1.2 Forecast Trend (2025-2034)
5.4.2 DC Motors
5.4.2.1 Historical Trend (2018-2024)
5.4.2.2 Forecast Trend (2025-2034)
5.4.3 Hermetic Motors
5.4.3.1 Historical Trend (2018-2024)
5.4.3.2 Forecast Trend (2025-2034)
5.5 Global Permanent Magnet Motor Market by Magnet Type
5.5.1 Neodymium
5.5.1.1 Historical Trend (2018-2024)
5.5.1.2 Forecast Trend (2025-2034)
5.5.2 Samarium Cobalt
5.5.2.1 Historical Trend (2018-2024)
5.5.2.2 Forecast Trend (2025-2034)
5.5.3 Ferrite
5.5.3.1 Historical Trend (2018-2024)
5.5.3.2 Forecast Trend (2025-2034)
5.5.4 Others
5.6 Global Permanent Magnet Motor Market by Power Range
5.6.1 4.0 kW and Below
5.6.1.1 Historical Trend (2018-2024)
5.6.1.2 Forecast Trend (2025-2034)
5.6.2 Between 4.0 to 22.0 kW
5.6.2.1 Historical Trend (2018-2024)
5.6.2.2 Forecast Trend (2025-2034)
5.6.3 Between 22.0 to 75.0 kW
5.6.3.1 Historical Trend (2018-2024)
5.6.3.2 Forecast Trend (2025-2034)
5.6.4 75.0 kW and Above
5.6.4.1 Historical Trend (2018-2024)
5.6.4.2 Forecast Trend (2025-2034)
5.7 Global Permanent Magnet Motor Market by End-User
5.7.1 Automotive
5.7.1.1 Historical Trend (2018-2024)
5.7.1.2 Forecast Trend (2025-2034)
5.7.2 General Industrial
5.7.2.1 Historical Trend (2018-2024)
5.7.2.2 Forecast Trend (2025-2034)
5.7.3 Energy
5.7.3.1 Historical Trend (2018-2024)
5.7.3.2 Forecast Trend (2025-2034)
5.7.4 Water and Wastewater Management
5.7.4.1 Historical Trend (2018-2024)
5.7.4.2 Forecast Trend (2025-2034)
5.7.5 Mining, Oil, and Gas
5.7.5.1 Historical Trend (2018-2024)
5.7.5.2 Forecast Trend (2025-2034)
5.7.6 Aerospace and Defence
5.7.6.1 Historical Trend (2018-2024)
5.7.6.2 Forecast Trend (2025-2034)
5.7.7 Others
5.8 Global Permanent Magnet Motor Market by Region
5.8.1 North America
5.8.1.1 Historical Trend (2018-2024)
5.8.1.2 Forecast Trend (2025-2034)
5.8.2 Europe
5.8.2.1 Historical Trend (2018-2024)
5.8.2.2 Forecast Trend (2025-2034)
5.8.3 Asia-Pacific
5.8.3.1 Historical Trend (2018-2024)
5.8.3.2 Forecast Trend (2025-2034)
5.8.4 Latin America
5.8.4.1 Historical Trend (2018-2024)
5.8.4.2 Forecast Trend (2025-2034)
5.8.5 Middle East and Africa
5.8.5.1 Historical Trend (2018-2024)
5.8.5.2 Forecast Trend (2025-2034)
6 North America Permanent Magnet Motor Market Analysis
6.1 United States of America
6.1.1 Historical Trend (2018-2024)
6.1.2 Forecast Trend (2025-2034)
6.2 Canada
6.2.1 Historical Trend (2018-2024)
6.2.2 Forecast Trend (2025-2034)
7 Europe Permanent Magnet Motor Market Analysis
7.1 United Kingdom
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Germany
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 France
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Italy
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.5 Others
8 Asia-Pacific Permanent Magnet Motor Market Analysis
8.1 China
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Japan
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 India
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 ASEAN
8.4.1 Historical Trend (2018-2024)
8.4.2 Forecast Trend (2025-2034)
8.5 Australia
8.5.1 Historical Trend (2018-2024)
8.5.2 Forecast Trend (2025-2034)
8.6 Others
9 Latin America Permanent Magnet Motor Market Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Argentina
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Mexico
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Others
10 Middle East and Africa Permanent Magnet Motor Market Analysis
10.1 Saudi Arabia
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 United Arab Emirates
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
10.3 Nigeria
10.3.1 Historical Trend (2018-2024)
10.3.2 Forecast Trend (2025-2034)
10.4 South Africa
10.4.1 Historical Trend (2018-2024)
10.4.2 Forecast Trend (2025-2034)
10.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Supplier Selection
12.2 Key Global Players
12.3 Key Regional Players
12.4 Key Player Strategies
12.5 Company Profiles
12.5.1 ABB Ltd.
12.5.1.1 Company Overview
12.5.1.2 Product Portfolio
12.5.1.3 Demographic Reach and Achievements
12.5.1.4 Certifications
12.5.2 Rockwell Automation, Inc.
12.5.2.1 Company Overview
12.5.2.2 Product Portfolio
12.5.2.3 Demographic Reach and Achievements
12.5.2.4 Certifications
12.5.3 Siemens AG
12.5.3.1 Company Overview
12.5.3.2 Product Portfolio
12.5.3.3 Demographic Reach and Achievements
12.5.3.4 Certifications
12.5.4 Franklin Electric Co., Inc.
12.5.4.1 Company Overview
12.5.4.2 Product Portfolio
12.5.4.3 Demographic Reach and Achievements
12.5.4.4 Certifications
12.5.5 Allied Motion, Inc.
12.5.5.1 Company Overview
12.5.5.2 Product Portfolio
12.5.5.3 Demographic Reach and Achievements
12.5.5.4 Certifications
12.5.6 Nidec Motor Corporation
12.5.6.1 Company Overview
12.5.6.2 Product Portfolio
12.5.6.3 Demographic Reach and Achievements
12.5.6.4 Certifications
12.5.7 Others

Companies Mentioned

The key companies featured in this Permanent Magnet Motor market report include:
  • ABB Ltd.
  • Rockwell Automation, Inc.
  • Siemens AG
  • Franklin Electric Co., Inc.
  • Allied Motion, Inc.
  • Nidec Motor Corporation

Table Information