A permanent magnet is magnetized and generates its own determined magnetic field. As permanent magnets do not require continuous electrical energy to maintain their electric field, the permanent magnet motors are favored over electromagnetic motors. The brushless electric motor that use permanent magnets over windings in the field is referred to as a permanent magnet motor.
The magnets which are used in permanent magnet motors are the derivative of rare earth metals. Basically, a permanent magnet motor acts as a synchronous machine having a magnetic excitation on its rotor. The continuous need for an increased power density is actually leading to a growing demand for high speed permanent magnet motors. There are various kinds of permanent magnet motors, including AC motors, DC motors and hermetic motors which are used for specific purposes. Permanent magnet motors are the best environment friendly options and are intensively used in compressors, machine tool, cryo & energy generating industry.
Permanent magnet motors have seen a significant rise in their adoption over the years, due to their high efficiency and throughput. This trend is expected to follow over the coming years, owing to product differentiation and innovations supported by market incumbents.
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.
There are various necessities which are leading to a growing demand for high speed permanent magnet motors such as continuous need for an increased power density. Due to the quasi linear relation between rotational speed and shaft power of an electric motor, the efficiency can be easily increased by increasing the rated speed. Hence, permanent magnet motors are highly energy efficient in nature Moreover, less weight and small volume are also the driving factors for the market growth. The compressor industry is a field where high efficiency, fuel-free operation and least emissions make permanent magnet motors the most suitable, economic and environmental friendly compressor drives.
Moreover, the increasing awareness regarding green vehicles is also aiding the permanent motor market to grow rapidly. As per a research, U.S is expected to produce more than 1.2 million electric vehicles in 2017. However, failures in motor elements can cause severe crashes affecting the environment and the machine. Moreover, uncertain availability of rare earth material and complex procedure of circuit construction might hamper the permanent magnet motor market growth. On the other hand, the emergence of automobile industry, specifically in Asia Pacific will bring future growth opportunities for the market.
This has led to the propagation of permanent magnet motors across the world as they consume lesser electricity as against other motors. Wind energy plants have multiplied in number and these plants extensively use permanent magnet motors which also drives demand within the global market. Despite these favourable factors for market growth, the limited availability of raw materials to manufacture permanent magnet motors could hamper market growth. Nevertheless, the inflow of demand from multiple industries is projected to keep offering an impetus to the global market for permanent magnet motors.
