Austin, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Permanent Magnet Motor Market Size & Growth Insights:
According to the SNS Insider,“The Permanent Magnet Motor Market Size was valued at USD 57.24 billion in 2024 and is expected to reach USD 132.17 billion by 2032 and grow at a CAGR of 11.06% over the forecast period of 2025-2032.”
Permanent Magnet Motor Market: Driven by EV Adoption and Industrial Automation
The global Permanent Magnet Motor Market is growing at a quicker pace due to the increasing acceptance of electric vehicles (EVs), industrial automation, and energy-efficient systems. Due to their high torque density, compact size, and superior energy efficiency, these motors are quickly becoming the motors of choice in EV powertrains, robotic systems, and smart manufacturing. Currently the market is also continuing to back due to propitious government regulations, increasing investment in R&D, and the shift to clean energy for sustainable mobility. Permanent magnet motors have now become more competitive, which is evidenced by the fact that more than 80% of EV manufacturers are currently using them. Permanent magnet motors will play a top role in transportation and industrial applications from 2023 through 2032 as industries shift to smarter, greener operations.
Get a Sample Report of Permanent Magnet Motor Market Forecast @ https://www.snsinsider.com/sample-request/7799
Leading Market Players with their Product Listed in this Report are:
- ABB Ltd.
- Siemens AG
- Nidec Corporation
- General Electric (GE)
- Toshiba Corporation
- Rockwell Automation Inc.
- Johnson Electric Holdings Limited
- Allied Motion Technologies Inc.
- WEG S.A.
- AMETEK Inc
Permanent Magnet Motor Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 57.24 Billion |
| Market Size by 2032 | USD 132.17 Billion |
| CAGR | CAGR of 11.06% From 2025 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Application (Electric Vehicles, Industrial Automation, Home Appliances, Renewable Energy and Robotics) • By Type (Synchronous Motors, Brushless DC Motors, Stepper Motors and Switched Reluctance Motors) • By End-User (Transportation, Manufacturing, Residential and Commercial) • By Cooling Method (Air-Cooled and Liquid-Cooled) |
Purchase Single User PDF of Permanent Magnet Motor Market Report (20% Discount) @ https://www.snsinsider.com/checkout/7799
Key Industry Segmentation
By Application
In 2024, the Electric Vehicles segment had the largest revenue share in the Permanent Magnet Motor Market, accounting for approximately 34.8% of revenue, as demand for lightweight, high-efficiency motors is increasing for EV powertrains. Permanent magnet motors, which are favored for their relatively high torque density and power density (compared to induction motors) also have been adopted by the major players including Tesla. As such, based on promising growth supportive due to expanding EV infrastructure, government incentives, and global transitions in mobility towards sustainable solutions, the segment is projected to register a CAGR of approximately 11.93% over the period of time spanning 2023 to 2032.
By Type
In Permanent Magnet Motor Market, the Synchronous Motors segment accounted for the largest revenue share of 41.2% in 2024 owing to the high efficiency, continuous operation as well as power factor correction capabilities making them suitable for a wide spectrum of industrial applications. Advanced synchronous motors for energy and heavy industries are delivered by Siemens, for example.
The fastest-growing segment, with a CAGR (2025–2032) of 11.78%, is Brushless DC Motors, primarily driven by automotive, aerospace and electronics industry demands for smaller, more efficient and low-maintenance motors.
By End-User
Transportation segment held highest revenue share of over 39.6% in 2024, owing to high usage rate of permanent magnet motor in electric trains, metro, and electric vehicles. An increasing focus on sustainable mobility and logistics electrification is further reinforcing this trend. Bombardier, a producer of an electric rail system, is one of the manufacturers adapting to these trends, having recently integrated permanent magnet motors to increase efficiency.
In alignment with the global trends in Permanent Magnet Motor Market, the transportation segment is estimated to gain a fastest CAGR during 2024–2032, around 11.71% owing to increasing investments Indicating in electric mobility, electric aviation, and rail modernization programs in developed and developing economies.
By Cooling Method
The Air-Cooled segment dominated the Permanent Magnet Motor Market in 2024 with a 62.3% share, driven by its cost-effectiveness, simplified design, and ease of integration across general industrial applications. These motors offer reliable thermal performance without complex cooling systems. ABB provides a wide range of air-cooled PM motors for industrial and HVAC use.
the Liquid-Cooled segment is anticipated to grow the fastest over the projected period (2024–2032) at a CAGR of 11.61%, offering enhanced cooling efficiency, especially suitable for EVs, robotics, and high-performance automation applications.
Permanent Magnet Motor Market Sees Robust Growth Across Key Global Regions
In 2024, Asia Pacific led the Permanent Magnet Motor Market with a 38.2% revenue share, driven by China, Japan, South Korea, and India’s robust automotive, electronics, and manufacturing sectors. China dominates due to EV leadership and rare earth resource control.
North America follows, with the U.S. spearheading adoption via advanced automation, EV manufacturing, and clean energy projects. Europe remains vital, particularly Germany and France, due to stringent efficiency norms and industrial modernization. Siemens and Bosch are key players. Emerging markets in the Middle East & Africa and Latin America—led by the UAE and Brazil—are gaining traction due to infrastructure growth, clean energy focus, and policy support, making them attractive frontiers for permanent magnet motor investments.
Do you have any specific queries or need any customized research on Permanent Magnet Motor Market? Submit your inquiry here @ https://www.snsinsider.com/enquiry/7799
Recent Developments:
- In June 2025, ABB has introduced its compact, plug-and-play LV Titanium platform, combining an IE5 permanent magnet motor with an integrated VSD for ultra-premium efficiency in pumps, compressors, and other applications.
- In 18 Feb 2025, San Marcos-based Noveon Magnetics will supply 1,000 tons of recycled rare-earth magnets to Nidec Motor Corp. for industrial automation and defense applications over five years.
USP FOR PERMANENT MAGNET MOTOR MARKET
- Technological Adoption Rate – helps you uncover innovation and investment Opportunities In Underpenetrated Segments Such As Iot-Enabled Motors, Axial Flux Designs, and advanced brushless DC motors for robotics and industrial automation.
- Application-Specific Deployment Analysis – helps you identify top-performing sectors like electric vehicles, drones, medical equipment, and HVAC systems that are accelerating the demand for compact, energy-efficient permanent magnet motors.
- Rare Earth Material Cost Index – helps you evaluate the impact of volatile pricing and supply risks associated with neodymium, samarium cobalt, and dysprosium, which significantly influence manufacturing costs and long-term procurement strategies.
- Capacity Utilization Rates – helps you assess overcapacity risks in Asia-Pacific (especially China) and underutilization in North America and Europe, offering insight into regional supply-demand balances and capital allocation.
- Market Innovation Index – helps you track disruptive trends like magnet-free synchronous reluctance motors, integrated drive systems, and additive manufacturing techniques reshaping motor design and performance.
- Supply Chain Disruption Index – helps you identify geopolitical and logistical threats in rare earth supply chains, with a focus on China’s material dominance and emerging diversification strategies in the U.S., EU, and Australia.
- Environmental Compliance Metrics – helps you understand global regulatory pressures, such as efficiency mandates (IE4/IE5 classes) and material traceability rules, which are influencing design standards and green manufacturing practices.
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
