A permanent magnet motor is a type of brushless electric motor that uses permanent magnets rather than winding in the field.
The air gap in permanent magnet motors makes them lighter than oil-filled asynchronous motors, while the greater efficiency allows them to be designed smaller.
Permanent magnet motors have seen a significant rise in adoption over the years due to their higher efficiency and throughput, and this trend is expected to continue over the coming years, owing to product differentiation and innovations supported by market incumbents.
Electric vehicles (EV) are expected to boost the growth of the permanent magnet motors market over the forecast period, as the number of new EV cars registered globally hit an unprecedented market share in 2017, with developed markets supporting this trend. Leading automotive companies have been identified to increasingly adopt permanent magnet motors into EVs, which is expected to increase the demand globally, thereby, driving the market’s growth.
