Permanent Magnet Motor Market (2019 – 2024): This report valuable for an in-depth assessment of the Permanent Magnet Motor including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Permanent Magnet Motor investments from 2019 till 2024.
The global permanent magnet motor market was valued at USD 31.03 billion in 2018, and is expected to reach USD 52.8 billion by 2024, at a CAGR of 9.42% during the forecast period (2019-2024).
Top Mentioned Companies in Global Permanent Magnet Motor Market are: Rockwell Automation, Siemens AG, Franklin Electric Company Inc., Allied Motion Technologies Inc., Baldor Electric Company Inc., Toshiba Corporation, Ametek Inc., Johnson Electric Holdings Ltd, Autotrol Corporation, Robert Bosch GmbH, Danaher Corporation, Emerson Industrial Automation, Bonfiglioli Riduttori SpA, Aerotech Corporation, Crouzet Automatismes SAS, Buhler Motors GmbH, ABB Limited, Nider Corporation and others.
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The earth metals used in PMM are rare-earth magnets, like neodymium and samarium-cobalt magnets. These metals are considered to be incredibly strong with magnetic fields exceeding 1.4 tesla, when compared to 0.5 to 1.0 tesla for ferrite or ceramic magnets. Although, these rare-earth metals find applications in different products, the overall availability of rare-earth metals has been limited, due to their distinct geochemical properties.
Scope of the Report:
A permanent magnet motor is a type of brushless electric motor that uses permanent magnets rather than winding in the field. Permanent magnet motors are more efficient than traditional induction motors or motors with field windings, for certain high-efficiency applications, such as electric vehicles.
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Key Market Trends
Energy Segment to Hold Significant Share
In 2016, new investments in clean energy fell to USD 287.5 billion, 18% lower, when compared to the record investment of USD 348.5 billion, in 2015. According to BNEF, Asia-Pacific (specifically China) alone accounted for USD 135 billion or almost 47% of the total global investments in clean energy, during 2016.
The global production at the end of 2016 was 486.8 GW, representing a cumulative market growth of more than 12%. The 23.4 GW in new installations, in China, powered this growth. Overall, the global wind power industry installed 54.6 GW, in 2016.
North America to Witness Significant Growth
United States established a new renewable energy milestone in 2017. For the first time, wind and solar energy accounted for a significant portion of all electricity generation, with wind comprising 8%, and solar coming in at 2%. However, hydroelectric power still held the dominant share in the region.
In 2016, US wind installations totaled over 82 GW. Wind surpassed traditional hydropower generation to become the largest source of renewable electric power.
The report has 150 tables and figures browse the report description and TOC:
Influence of the Permanent Magnet Motor market report
-Comprehensive assessment of all opportunities and risk in the market.
-Permanent Magnet Motor market recent innovations and major events.
-Detailed study of business strategies for growth of the market-leading players.
-Conclusive study about the growth plot of Permanent Magnet Motor market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the market.
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