Global Permanent Magnet Motor Market is estimated to be valued at USD 54.11 Bn in 2025 and is expected to reach USD 107.54 Bn by 2032, growing at a compound annual growth rate (CAGR) of 10.3% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 54.11 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
10.30%
2032 Value Projection:
USD 107.54 Bn
Figure. Permanent Magnet Motor Market Share (%), By Region 2025
The global permanent magnet motor market has been witnessing significant growth in recent years due to growing demand for energy-efficient equipment across various industrial sectors. Permanent magnet motors provide higher efficiency compared to traditional induction motors and synchronous reluctance motors. Advantages like compact size, light weight, high torque to weight ratio and lower running costs have made permanent magnet motors a preferred choice for applications ranging from HVAC, manufacturing to automotive. Major players are focusing on development of innovative motor designs with improved magnet materials to achieve higher power densities and efficiencies. The rising stringency of energy efficiency standards globally is expected to further propel the demand for permanent magnet motors.
Market Dynamics:
The global permanent magnet motor market growth is driven by factors such as growing industrial automation, stringent regulations regarding energy efficiency and increasing adoption of electric vehicles. Rapid industrialization across developing nations has fueled the demand for industrial equipment which utilize permanent magnet motors for applications like fans, pumps and conveyors due to their compact design and energy savings. However, high initial costs and supply risks of rare earth materials used in magnets pose challenges to market growth. Adoption of permanent magnet synchronous motors in areas dominated by induction motors is expected to create new opportunities during the forecast period. Ongoing R&D towards development of hybrid motors combining advantages of different motor types is gaining traction.
Key features of the study:
This report provides in-depth analysis of the global permanent magnet motor market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global permanent magnet motor market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include ABB Ltd., Ametek, Inc., Danfoss A/S, General Electric Company, Hitachi, Ltd., Hyosung Heavy Industries, Johnson Electric Holdings Limited, Mitsubishi Electric Corporation, Nidec Corporation, Regal Beloit Corporation, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Toshiba Corporation, and WEG S.A.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global permanent magnet motor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global permanent magnet motor market.
Detailed Segmentation:
By Motor Type
Direct Current (DC) Motor
Alternating Current (AC) Motor
By Magnetic Material Type
Ferrite
Neodymium
Samarium Cobalt
Others
By Vertical
Automotive
General Industrial
Energy
Water and Wastewater Treatment
Mining
Oil and Gas
Aerospace and Defense
Others
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players Insights
ABB Ltd.
Ametek, Inc.
Danfoss A/S
General Electric Company
Hitachi, Ltd.
Hyosung Heavy Industries
Johnson Electric Holdings Limited
Mitsubishi Electric Corporation
Nidec Corporation
Regal Beloit Corporation
Rockwell Automation, Inc.
Schneider Electric SE
Siemens AG
Toshiba Corporation
WEG S.A.
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Motor Type
Market Snippet, By Magnetic Material Type
Market Snippet, By Vertical
Market Snippet, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic
4. Global Permanent Magnet Motor Market, By Motor Type, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
Direct Current (DC) Motor
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Alternating Current (AC) Motor
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
5. Global Permanent Magnet Motor Market, By Magnetic Material Type, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
Ferrite
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Neodymium
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Samarium Cobalt
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Others
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
6. Global Permanent Magnet Motor Market, By Vertical, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
Automotive
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
General Industrial
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Energy
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Water and Wastewater Treatment
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Mining
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Oil and Gas
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Aerospace and Defense
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Others
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
7. Global Permanent Magnet Motor Market, By Region, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
North America
Regional Trends
Market Size and Forecast, By Motor Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Magnetic Material Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Vertical, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
U.S.
Canada
Europe
Regional Trends
Market Size and Forecast, By Motor Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Magnetic Material Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Vertical, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Regional Trends
Market Size and Forecast, By Motor Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Magnetic Material Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Vertical, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
Regional Trends
Market Size and Forecast, By Motor Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Magnetic Material Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Vertical, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Regional Trends
Market Size and Forecast, By Motor Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Magnetic Material Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Vertical, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)