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Als d et was valued US$ 27.15 Bn in 2017 and is estimated to reach US$ 51.13 Bn by 2026 at a CAGR of about 8.23% during a forecast period.

The report permanent magnet motor market based on type, magnet type Austin Johnson Titans Jersey , power rating, end-user, and region. In terms of type, the permanent magnet motor market is classified into AC motor, DC motor, and brushless DC. Based on magnet type, the permanent magnet motor market is divided into neodymium, samarium cobalt Kevin Dodd Titans Jersey , and ferrite. On the basis of power rating, the permanent magnet motor market is segmented into Up to 25 kW, 25鈥?00 kW, 100鈥?00 kW, and 300 kW & above. In terms of end-user, the permanent magnet motor market is categorized into industrial, commercial & residential, and healthcare. Region wise into North America Luke Falk Titans Jersey , Europe, Asia Pacific, Middle East & Africa and Latin America.

Permanent magnet is an object made up of ferromagnetic material, which have magnetic properties and creates its own magnetic field. Permanent magnet motor market is driven by factors such as growing demand for energy-efficient & low-cost maintenance motors. Increased implementation of permanent magnet motors across industries is anticipated to boost the demand for permanent magnet motors. Also, the use of permanent magnets reduces the size of motors and develop performance, which can be done using nanocomposite permanent magnets. However, the market growth will be restrained due to the high cost of permanent magnet motors and complexity in the manufacturing process. The growing robotics technology presents a great opportunity for the permanent magnet motor market because of significant investments being made in it.

Global Permanent Magnet Motor Market

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