According to a latest report from Fact.MR, the global permanent magnet synchronous motors market is expected to witness steady growth through 2030, despite COVID-19 stopping the rally in 2020. Growing opportunities in the EV segment, combined with focus on energy-efficient motors will be the key focus areas for market players.
With increasing concerns regarding environmental issues, manufacturers are now focusing on developing and creating energy efficient motors that use permanent magnet materials with high magnetic flux density.
Their increasing use in a number of end-use industries like oil and gas, electronics, automotive, aerospace, marine, mining and defense has resulted in a rise in demand, that subsequently has had a positive influence on the market.
Asia-Pacific is the largest market for permanent magnet synchronous motors. China is the world’s biggest automotive market, both in terms of demand and supply. Due to this, Asia Pacific permanent magnet synchronous motors gets a direct edge over other markets.
Moreover, countries like India are consistently experiencing the launch of new projects in the oil and gas, marine, and defense industries which are propelling the growth of the market.
North America is the second largest market for permanent magnet synchronous motors globally. The growth of the region is driven by the increasing investments by market players combined with government projects to establish an energy-efficient and sustainable environment.
For instance, the Canada Industry Program for Energy Conservation, (CIPEC), an award-winning partnership between the Government of Canada and the Canadian industry aims at promotion and development of innovative energy management to help industries to increase their profitability ensuring sustainability.
Following Questions Answers Covered in the Report are:
- How will the global Permanent Magnet Synchronous Motors Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Permanent Magnet Synchronous Motors Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Permanent Magnet Synchronous Motors Market?
- How will these strategies influence the market growth and competition?
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Permanent Magnet Synchronous Motors Market report answers the following queries:
- What is the largest share held by key players in the market?
- What strategies have proven most advantageous in the Permanent Magnet Synchronous Motors Market?
- Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
- What factors will most likely present challenges to growth during the forecast period?
- What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?
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