Table of Content

1 INTRODUCTION 35
1.1 STUDY OBJECTIVES 35
1.2 DEFINITION 35
1.3 INCLUSIONS & EXCLUSIONS 35
1.3.1 PERMANENT MAGNET MOTOR MARKET, BY TYPE: INCLUSIONS & EXCLUSIONS 35
1.3.2 PERMANENT MAGNET MOTOR MARKET, BY END-USE INDUSTRY: INCLUSIONS & EXCLUSIONS 36
1.4 MARKET SCOPE 36
1.4.1 MARKET SEGMENTATION 36
1.4.2 GEOGRAPHIC SCOPE 37
1.4.3 YEARS CONSIDERED FOR THE STUDY 37
1.5 CURRENCY 38
1.6 LIMITATIONS 38
1.7 STAKEHOLDERS 38
1.8 SUMMARY OF CHANGES 39
2 RESEARCH METHODOLOGY 40
2.1 RESEARCH DATA 40
FIGURE 1 PERMANENT MAGNET MOTOR MARKET: RESEARCH DESIGN 40
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 41
FIGURE 2 DATA TRIANGULATION METHODOLOGY 41
2.2.1 SECONDARY DATA 42
2.2.1.1 Key data from secondary sources 42
2.2.2 PRIMARY DATA 43
2.2.2.1 Key data from primary sources 43
2.2.2.2 Breakdown of primaries 44
2.3 IMPACT OF COVID-19 ON INDUSTRY 45
2.4 SCOPE 45
FIGURE 3 MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND FOR PERMANENT MAGNET MOTORS 45
2.5 MARKET SIZE ESTIMATION 46
2.5.1 BOTTOM-UP APPROACH 46
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 46
2.5.2 TOP-DOWN APPROACH 47
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 47
2.5.3 DEMAND-SIDE ANALYSIS 48
2.5.3.1 Regional analysis 48
2.5.3.2 Country analysis 49
2.5.3.3 Assumptions for demand side 49
2.5.3.4 Calculation for demand side 49
2.5.4 SUPPLY-SIDE ANALYSIS 50
FIGURE 6 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF PERMANENT MAGNET MOTOR 50
FIGURE 7 PERMANENT MAGNET MOTOR MARKET: SUPPLY-SIDE ANALYSIS 51
2.5.4.1 Supply-side calculation 51
2.5.4.2 Assumptions for supply-side 51
2.5.5 FORECAST 52
3 EXECUTIVE SUMMARY 53
TABLE 1 PERMANENT MAGNET MOTOR MARKET SNAPSHOT 54
FIGURE 8 ASIA PACIFIC LED THE MARKET FOR PERMANENT MAGNET MOTOR IN 2020 55
FIGURE 9 PMAC SEGMENT EXPECTED TO DOMINATE PERMANENT MAGNET MOTOR MARKET DURING FORECAST PERIOD 55
FIGURE 10 UPTO 25 KW SEGMENT EXPECTED TO GROW AT THE HIGHEST CAGR DURING FORECAST PERIOD 56
FIGURE 11 INDUSTRIAL SEGMENT EXPECTED TO LEAD PERMANENT MAGNET MOTOR MARKET DURING FORECAST PERIOD 56
4 PREMIUM INSIGHTS 58
4.1 ATTRACTIVE OPPORTUNITIES IN PERMANENT MAGNET MOTOR MARKET 58
FIGURE 12 INCREASING INVESTMENTS IN ELECTRONIC APPLIANCES AND ELECTRIC VEHICLES EXPECTED TO DRIVE THE MARKET DURING THE FORECAST PERIOD 58
4.2 PERMANENT MAGNET MOTOR MARKET, BY REGION 59
FIGURE 13 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC PROJECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2026 59
4.3 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC, BY END-USE INDUSTRY & COUNTRY 60
FIGURE 14 THE ELECTRONICS INDUSTRY AND CHINA HELD THE LARGEST SHARE OF THE PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC IN 2020 60
4.4 PERMANENT MAGNET MOTOR MARKET, BY TYPE 61
FIGURE 15 PMAC MOTOR SEGMENT EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF PERMANENT MAGNET MOTOR MARKET BY 2026 61
4.5 PERMANENT MAGNET MOTOR MARKET, BY POWER RATING 61
FIGURE 16 UPTO 25KW SEGMENT EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF MARKET BY 2026 61
5 MARKET OVERVIEW 62
5.1 INTRODUCTION 62
5.2 COVID-19 HEALTH ASSESSMENT 62
FIGURE 17 COVID-19 GLOBAL PROPAGATION 62
FIGURE 18 COVID-19 PROPAGATION ACROSS COUNTRIES 63
5.3 ROAD TO RECOVERY 64
FIGURE 19 RECOVERY ROAD FOR 2020 AND 2021 64
5.4 COVID-19 ECONOMIC ASSESSMENT 65
FIGURE 20 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020 65
5.5 MARKET DYNAMICS 66
FIGURE 21 PERMANENT MAGNET MOTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 66
5.5.1 DRIVERS 66
5.5.1.1 Increasing demand for energy-efficient and low-cost maintenance motors across different industries 66
5.5.1.2 Increasing use of permanent magnet motors in electric vehicles 67
FIGURE 22 WORLDWIDE EV SALES, MILLION UNITS, 2017–2020 67
5.5.1.3 Rising demand for sustainable solutions in the HVAC industry 67
5.5.2 RESTRAINTS 68
5.5.2.1 High cost of permanent magnet motors 68
5.5.2.2 Increased prices of raw materials used in manufacturing 68
5.5.3 OPPORTUNITIES 68
5.5.3.1 Adoption of cost-effective ferrite permanent magnets 68
5.5.3.2 Emergence of robotics technology 69
5.5.3.3 Increasing use of IoT and 5G technologies across industries 69
5.5.4 CHALLENGES 69
5.5.4.1 Easy availability of low-quality and inexpensive electric motors 69
5.5.4.2 Shortage of components and parts due to COVID-19 69
TABLE 2 REGION/COUNTRY-WISE PERCENTAGE DEVIATION FROM BENCHMARKS DUE TO COVID-19 (GDP-2020) 70
5.6 TRENDS 71
5.6.1 REVENUE SHIFT & NEW REVENUE POCKETS FOR ELECTRIC VEHICLE MANUFACTURERS 71
FIGURE 23 REVENUE SHIFT FOR PERMANENT MAGNET MOTORS 71
5.7 PRICING ANALYSIS 72
TABLE 3 PRICING ANALYSIS OF PERMANENT MAGNET MOTORS 72
5.8 MARKET MAP 73
FIGURE 24 MARKET MAP FOR PM MOTOR 73
TABLE 4 PERMANENT MAGNET MOTOR: SUPPLY CHAIN/ECOSYSTEM 73
5.9 VALUE CHAIN ANALYSIS 74
FIGURE 25 PERMANENT MAGNET MOTOR VALUE CHAIN ANALYSIS 74
5.9.1 RAW MATERIAL PROVIDERS/SUPPLIERS 74
5.9.2 OEM MANUFACTURERS 74
5.9.3 PERMANENT MAGNET MOTOR MANUFACTURERS/ASSEMBLERS 75
5.9.4 DISTRIBUTORS (BUYERS)/END USERS AND POST-SALES SERVICES 75
5.10 TECHNOLOGY ANALYSIS 75
5.10.1 PM MOTOR BASED ON DIFFERENT TECHNOLOGIES 75
TABLE 5 COMPARISON OF DIFFERENT COMMERCIALLY AVAILABLE MOTOR TECHNOLOGIES 76
5.11 PERMANENT MAGNET MOTOR: CODES AND REGULATIONS 76
TABLE 6 PERMANENT MAGNET MOTOR: CODES AND REGULATIONS 76
5.12 INNOVATIONS AND PATENT REGISTRATIONS 77
TABLE 7 PERMANENT MAGNET MOTOR: INNOVATIONS AND PATENT REGISTRATIONS 77
5.13 PORTER’S FIVE FORCES ANALYSIS 77
FIGURE 26 PORTER’S FIVE FORCES ANALYSIS FOR PM MOTOR MARKET 78
TABLE 8 PERMANENT MAGNET MOTOR: PORTER’S FIVE FORCES ANALYSIS 78
5.13.1 THREAT OF SUBSTITUTES 78
5.13.2 BARGAINING POWER OF SUPPLIERS 79
5.13.3 BARGAINING POWER OF BUYERS 79
5.13.4 THREAT OF NEW ENTRANTS 79
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 79
5.14 CASE STUDY ANALYSIS 80
5.14.1 ABB’S PERMANENT MAGNET MOTOR SOLUTION FOR PAPER MILLS AND TESLA SWITCHING TO PERMANENT MAGNET MOTOR FOR ITS ELECTRIC VEHICLES 80
TABLE 9 PERMANENT MAGNET MOTOR: CASE STUDY ANALYSIS 80
6 PERMANENT MAGNET MOTOR MARKET, BY TYPE 81
6.1 INTRODUCTION 82
FIGURE 27 PERMANENT MAGNET MOTOR MARKET SHARE, BY TYPE, 2020 (%) 82
TABLE 10 PERMANENT MAGNET MOTOR MARKET, BY TYPE, 2019–2026 (USD MILLION) 82
6.2 PERMANENT MAGNET AC MOTOR 83
6.2.1 PERMANENT MAGNET AC MOTOR OFFER HIGH TORQUE CAPACITY AND WITHSTAND HIGH OVERLOAD CAPACITY 83
TABLE 11 PERMANENT MAGNET AC MOTOR MARKET, BY REGION,
2019–2026 (USD MILLION) 83
6.3 PERMANENT MAGNET DC MOTOR 84
6.3.1 PERMANENT MAGNET DC MOTOR ARE AVAILABLE IN SMALL SIZES FOR USE IN ELECTRONIC APPLIANCES 84
TABLE 12 PERMANENT MAGNET DC MOTOR MARKET, BY REGION,
2019–2026 (USD MILLION)- 84
6.4 BRUSHLESS DC MOTOR 84
6.4.1 PERMANENT MAGNET BRUSHLESS DC MOTOR ARE WITNESSING CONSIDERABLE GROWTH DUE TO INCREASING USAGE IN ELECTRIC VEHICLES 84
TABLE 13 BRUSHLESS DC MOTOR MARKET, BY REGION, 2019–2026 (USD MILLION) 85
7 PERMANENT MAGNET MOTOR MARKET, BY END-USE INDUSTRY 86
7.1 INTRODUCTION 87
FIGURE 28 PERMANENT MAGNET MOTOR MARKET SHARE, BY END-USE INDUSTRY, 2020 87
TABLE 14 PERMANENT MAGNET MOTOR MARKET, BY END-USE INDUSTRY,
2020–2026 (USD MILLION) 87
7.2 INDUSTRIAL 88
7.2.1 INDUSTRIAL SEGMENT IS DRIVEN BY RAPIDLY EXPANDING MANUFACTURING ACTIVITIES IN APAC REGION 88
TABLE 15 PERMANENT MAGNET MOTOR MARKET FOR INDUSTRIAL, BY TYPE,
2019–2026 (USD MILLION) 88
TABLE 16 PERMANENT MAGNET MOTOR MARKET FOR INDUSTRIAL, BY REGION,
2019–2026 (USD MILLION) 88
7.2.2 AUTOMOTIVE 89
7.2.2.1 Automotive segment accounted for major share in Permanent Magnet Motor market due to increasing usage in EV 89
TABLE 17 PERMANENT MAGNET MOTOR MARKET FOR AUTOMOTIVE, BY REGION, 2019–2026 (USD MILLION) 89
7.2.3 PULP & PAPER 89
7.2.3.1 Permanent magnet motors are witnessing considerable growth from the pulp & paper segment in APAC 89
TABLE 18 PERMANENT MAGNET MOTOR MARKET FOR PULP & PAPER, BY REGION, 2019–2026 (USD MILLION) 90
7.2.4 ELECTRONICS 90
7.2.4.1 The use of permanent magnet motors in electronic appliances boosts electrical efficiency far more than the traditional motors 90
TABLE 19 PERMANENT MAGNET MOTOR MARKET FOR ELECTRONICS, BY REGION, 2019–2026 (USD MILLION) 90
7.2.5 CHEMICAL & PETROCHEMICALS 91
7.2.5.1 Increasing upstream activities across APAC and North America will boost the sales of PM motors in these regions 91
TABLE 20 PERMANENT MAGNET MOTOR MARKET FOR CHEMICALS & PETROCHEMICALS, BY REGION, 2019–2026 (USD MILLION) 91
7.2.6 OTHERS 91
TABLE 21 PERMANENT MAGNET MOTOR MARKET FOR OTHER INDUSTRIES, BY REGION, 2019–2026 (USD MILLION) 91
7.3 COMMERCIAL AND RESIDENTIAL 92
TABLE 22 PERMANENT MAGNET MOTOR MARKET FOR COMMERCIAL AND RESIDENTIAL, BY TYPE, 2019–2026 (USD MILLION) 92
TABLE 23 PERMANENT MAGNET MOTOR MARKET FOR COMMERCIAL, BY TYPE,
BY REGION, 2019–2026 (USD MILLION) 92
7.3.1 COMMERCIAL 93
7.3.1.1 Commercial segment generates major share due to use of permanent magnet motor in large buildings and various energy-intensive operations 93
TABLE 24 PERMANENT MAGNET MOTOR MARKET FOR COMMERCIAL, BY TYPE,
2019–2026 (USD MILLION) 93
TABLE 25 PERMANENT MAGNET MOTOR MARKET FOR COMMERCIAL, BY REGION, 2019–2026 (USD MILLION) 93
7.3.1.2 Malls 94
7.3.1.2.1 Rising number of supermarkets across the globe will increase the usage of permanent magnet motor 94
TABLE 26 PERMANENT MAGNET MOTOR MARKET FOR MALLS, BY REGION,
2019–2026 (USD MILLION) 94
7.3.1.3 Offices 94
7.3.1.3.1 Growth in IT & telecom sector across the globe will boost the sales of permanent magnet motors 94
TABLE 27 PERMANENT MAGNET MOTOR MARKET FOR OFFICES, BY REGION,
2019–2026 (USD MILLION) 95
7.3.1.4 Healthcare 95
7.3.1.4.1 Due to high reliability and compact size, usage of permanent magnet motor will increase in medical devices 95
TABLE 28 PERMANENT MAGNET MOTOR MARKET FOR HEALTHCARE, BY REGION, 2019–2026 (USD MILLION) 95
7.3.1.5 Others 96
TABLE 29 PERMANENT MAGNET MOTOR MARKET FOR OTHER COMMERCIAL INDUSTRIES, BY REGION, 2019–2026 (USD MILLION) 96
7.3.2 RESIDENTIAL 96
7.3.2.1 Rapid urbanization and growing population across the globe will increase the usage of permanent magnet motor 96
TABLE 30 PERMANENT MAGNET MOTOR MARKET FOR RESIDENTIAL,
BY REGION, 2019–2026 (USD MILLION) 96
7.4 OTHERS 97
TABLE 31 PERMANENT MAGNET MOTOR MARKET FOR OTHER END-USE INDUSTRIES,
BY REGION, 2019–2026 (USD MILLION) 97
8 PERMANENT MAGNET MOTOR MARKET, BY POWER RATING 98
8.1 INTRODUCTION 99
FIGURE 29 PERMANENT MAGNET MOTOR MARKET, BY POWER RATING, 2020 (%) 99
TABLE 32 PERMANENT MAGNET MOTOR MARKET SIZE, BY POWER RATING,
2019–2026 (USD) 99
8.2 UPTO 25 KW 100
8.2.1 INCREASING USE OF PERMANENT MAGNET MOTOR UPTO 25 KW ACROSS ELECTRONICS AND INDUSTRIAL SEGMENT 100
TABLE 33 UPTO 25 KW PERMANENT MAGNET MOTOR MARKET, BY REGION,
2019–2026 (USD MILLION) 100
8.3 25–100 KW 100
8.3.1 RISING APPLICATION OF PERMANENT MAGNET MOTOR UPTO 25–100 KW ACROSS PRINTING & PACKAGING INDUSTRY 100
TABLE 34 25–100 KW PERMANENT MAGNET MOTOR MARKET, BY REGION,
2019–2026 (USD MILLION) 101
8.4 100–300 KW 101
8.4.1 INCREASING DEMAND FOR PERMANENT MAGNET MOTOR UPTO 100–300 KW ACROSS AEROSPACE AND RAILWAYS 101
TABLE 35 100–300 KW PERMANENT MAGNET MOTOR MARKET, BY REGION,
2019–2026 (USD) 101
8.5 300 KW AND ABOVE 102
8.5.1 INCREASING APPLICATION OF PERMANENT MAGNET MOTOR 300 KW & ABOVE DUE TO ITS ADVANTAGE OVER CONVENTIONAL PROPULSION 102
TABLE 36 300 KW & ABOVE PERMANENT MAGNET MOTOR MARKET, BY REGION, 2019–2026 (USD) 102
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9 GEOGRAPHICAL ANALYSIS 103
9.1 INTRODUCTION 104
FIGURE 30 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026 104
FIGURE 31 PERMANENT MAGNET MOTOR MARKET SHARE, BY REGION, 2020 (%) 104
TABLE 37 PERMANENT MAGNET MOTOR MARKET SIZE, BY REGION,
2019–2026 (USD MILLION) 105
TABLE 38 PERMANENT MAGNET MOTOR MARKET SIZE, BY REGION,
2019–2026 (VOLUME IN MILLION UNITS) 105
9.2 ASIA PACIFIC 106
FIGURE 32 ASIA PACIFIC PM MOTOR MARKET SNAPSHOT 106
9.2.1 PRICE TREND ANALYSIS 107
FIGURE 33 ASIA PACIFIC PRICE TREND ANALYSIS (2018-2020) 107
9.2.2 BY TYPE 107
TABLE 39 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC, BY TYPE,
2019–2026 (USD MILLION) 107
9.2.3 BY POWER RATING 108
TABLE 40 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC, BY POWER RATING, 2019–2026 (USD MILLION) 108
9.2.4 BY END-USE INDUSTRY 108
TABLE 41 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 108
TABLE 42 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 108
TABLE 43 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 109
9.2.5 BY COUNTRY 109
TABLE 44 PERMANENT MAGNET MOTOR MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2026 (USD MILLION) 109
9.2.5.1 China 110
9.2.5.1.1 Increasing manufacturing activities to contribute to the growth of PM motor market in China 110
9.2.5.1.2 By type 110
TABLE 45 PERMANENT MAGNET MOTOR MARKET IN CHINA, BY TYPE,
2019–2026 (USD MILLION) 110
9.2.5.1.3 By power rating 110
TABLE 46 PERMANENT MAGNET MOTOR MARKET IN CHINA, BY POWER RATING,
2019–2026 (USD MILLION) 110
9.2.6 BY END-USE INDUSTRY 111
TABLE 47 PERMANENT MAGNET MOTOR MARKET IN CHINA, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 111
TABLE 48 PERMANENT MAGNET MOTOR MARKET IN CHINA FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 111
TABLE 49 PERMANENT MAGNET MOTOR MARKET IN CHINA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 112
9.2.6.1 Japan 112
9.2.6.1.1 Growing focus on technologically advanced industrial equipment and manufacturing process drive demand for PM motors in Japan 112
9.2.6.1.2 By type 112
TABLE 50 PERMANENT MAGNET MOTOR MARKET IN JAPAN, BY TYPE,
2019–2026 (USD MILLION) 112
9.2.6.1.3 By power rating 113
TABLE 51 PERMANENT MAGNET MOTOR MARKET IN JAPAN, BY POWER RATING,
2019–2026 (USD MILLION) 113
9.2.7 BY END-USE INDUSTRY 113
TABLE 52 PERMANENT MAGNET MOTOR MARKET IN JAPAN, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 113
TABLE 53 PERMANENT MAGNET MOTOR MARKET IN JAPAN FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION)) 114
TABLE 54 PERMANENT MAGNET MOTOR MARKET IN JAPAN FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 114
9.2.7.1 India 115
9.2.7.1.1 Ongoing Industrialization expected to drive the demand for PM motors in India 115
9.2.7.1.2 By type 115
TABLE 55 PERMANENT MAGNET MOTOR MARKET IN INDIA, BY TYPE,
2019–2026 (USD MILLION) 115
9.2.7.1.3 By power rating 115
TABLE 56 PERMANENT MAGNET MOTOR MARKET IN INDIA, BY POWER RATING,
2019–2026 (USD MILLION) 115
9.2.8 BY END-USE INDUSTRY 116
TABLE 57 PERMANENT MAGNET MOTOR MARKET IN INDIA, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 116
TABLE 58 PERMANENT MAGNET MOTOR MARKET IN INDIA FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 116
TABLE 59 PERMANENT MAGNET MOTOR MARKET IN INDIA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 117
9.2.8.1 South Korea 117
9.2.8.1.1 Rise in manufacturing of electronics and automobiles is expected to drive the market in the country 117
9.2.8.1.2 By type 117
TABLE 60 PERMANENT MAGNET MOTOR MARKET IN SOUTH KOREA, BY TYPE,
2019–2026 (USD MILLION) 117
9.2.8.1.3 By power rating 118
TABLE 61 PERMANENT MAGNET MOTOR MARKET IN SOUTH KOREA, BY POWER RATING, 2019–2026 (USD MILLION) 118
9.2.9 BY END-USE INDUSTRY 118
TABLE 62 PERMANENT MAGNET MOTOR MARKET IN SOUTH KOREA, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 118
TABLE 63 PERMANENT MAGNET MOTOR MARKET IN SOUTH KOREA FOR INDUSTRIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 119
TABLE 64 PERMANENT MAGNET MOTOR MARKET IN SOUTH KOREA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 119
9.2.9.1 Australia 120
9.2.9.1.1 Increasing demand for consumer electronics fueling the growth of PM motors in Australia 120
9.2.9.1.2 By type 120
TABLE 65 PERMANENT MAGNET MOTOR MARKET IN AUSTRALIA, BY TYPE,
2019–2026 (USD MILLION) 120
9.2.9.1.3 By power rating 120
TABLE 66 PERMANENT MAGNET MOTOR MARKET IN AUSTRALIA, BY POWER RATING, 2019–2026 (USD MILLION) 120
9.2.10 BY END-USE INDUSTRY 121
TABLE 67 PERMANENT MAGNET MOTOR MARKET IN AUSTRALIA, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 121
TABLE 68 PERMANENT MAGNET MOTOR MARKET IN AUSTRALIA FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 121
TABLE 69 PERMANENT MAGNET MOTOR MARKET IN AUSTRALIA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 122
9.2.10.1 Rest of Asia Pacific 122
9.2.10.1.1 By type 122
TABLE 70 PERMANENT MAGNET MOTOR MARKET IN REST OF ASIA PACIFIC,
BY TYPE, 2019–2026 (USD MILLION) 122
9.2.10.1.2 By power rating 123
TABLE 71 PERMANENT MAGNET MOTOR MARKET IN REST OF ASIA PACIFIC,
BY POWER RATING, 2019–2026 (USD MILLION) 123
9.2.11 BY END-USE INDUSTRY 123
TABLE 72 PERMANENT MAGNET MOTOR MARKET IN REST OF ASIA PACIFIC,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 123
TABLE 73 PERMANENT MAGNET MOTOR MARKET IN REST OF ASIA-PACIFIC FOR INDUSTRIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 124
TABLE 74 PERMANENT MAGNET MOTOR MARKET IN REST OF ASIA PACIFIC FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 124
9.3 NORTH AMERICA 125
FIGURE 34 NORTH AMERICA: PM MOTOR MARKET SNAPSHOT 125
9.3.1 PRICE TREND ANALYSIS 126
FIGURE 35 PRICE TREND ANALYSIS (2018-2020) 126
9.3.2 BY TYPE 126
TABLE 75 PERMANENT MAGNET MOTOR MARKET IN NORTH AMERICA, BY TYPE,
2019–2026 (USD MILLION) 126
9.3.3 BY POWER RATING 127
TABLE 76 PERMANENT MAGNET MOTOR MARKET IN NORTH AMERICA, BY POWER RATING, 2019–2026 (USD MILLION) 127
9.3.4 BY END-USE INDUSTRY 127
TABLE 77 PERMANENT MAGNET MOTOR MARKET IN NORTH AMERICA, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 127
TABLE 78 PERMANENT MAGNET MOTOR MARKET IN NORTH AMERICA FOR INDUSTRIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 128
TABLE 79 PERMANENT MAGNET MOTOR MARKET IN NORTH AMERICA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 128
9.3.5 BY COUNTRY 129
TABLE 80 PERMANENT MAGNET MOTOR MARKET IN NORTH AMERICA,
BY COUNTRY, 2019–2026 (USD MILLION) 129
9.3.5.1 US 129
9.3.5.1.1 New reforms related to energy efficiency will fuel the growth of the permanent magnet motor market 129
9.3.5.1.2 By type 130
TABLE 81 PERMANENT MAGNET MOTOR MARKET IN US, BY TYPE,
2019–2026 (USD MILLION) 130
9.3.5.1.3 By power rating 130
TABLE 82 PERMANENT MAGNET MOTOR MARKET IN US, BY POWER RATING,
2019–2026 (USD MILLION) 130
9.3.6 BY END-USE INDUSTRY 130
TABLE 83 PERMANENT MAGNET MOTOR MARKET IN US, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 130
TABLE 84 PERMANENT MAGNET MOTOR MARKET IN US FOR INDUSTRIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 131
TABLE 85 PERMANENT MAGNET MOTOR MARKET IN US FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 131
9.3.6.1 Mexico 132
9.3.6.1.1 Mexico’s manufacturing capabilities at low-cost is providing opportunity for PM motor manufacturers 132
9.3.6.1.2 By Type 132
TABLE 86 PERMANENT MAGNET MOTOR MARKET IN MEXICO, BY TYPE, 2019–2026 (USD MILLION) 132
9.3.6.1.3 By power rating 133
TABLE 87 PERMANENT MAGNET MOTOR MARKET IN MEXICO, BY POWER RATING, 2019–2026 (USD MILLION) 133
9.3.7 BY END-USE INDUSTRY 133
TABLE 88 PERMANENT MAGNET MOTOR MARKET IN MEXICO, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 133
TABLE 89 PERMANENT MAGNET MOTOR MARKET IN MEXICO FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 134
TABLE 90 PERMANENT MAGNET MOTOR MARKET IN MEXICO FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 134
9.3.7.1 Canada 135
9.3.7.1.1 Heavy investments in end-use industries will boost the demand for permanent magnet motors 135
9.3.7.1.2 By type 135
TABLE 91 PERMANENT MAGNET MOTOR MARKET IN CANADA, BY TYPE,
2019–2026 (USD MILLION) 135
9.3.7.1.3 By power rating 135
TABLE 92 PERMANENT MAGNET MOTOR MARKET IN CANADA, BY POWER RATING, 2019–2026 (USD MILLION) 135
9.3.8 BY END-USE INDUSTRY 136
TABLE 93 PERMANENT MAGNET MOTOR MARKET IN CANADA, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 136
TABLE 94 PERMANENT MAGNET MOTOR MARKET IN CANADA FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 136
TABLE 95 PERMANENT MAGNET MOTOR MARKET IN CANADA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 137
9.3.8.1 Rest of North America 137
9.3.8.1.1 Cuba is a potential market in the Rest of North America 137
9.3.8.1.2 By type 137
TABLE 96 PERMANENT MAGNET MOTOR MARKET IN REST OF NORTH AMERICA,
BY TYPE, 2019–2026 (USD MILLION) 137
9.3.8.1.3 By power rating 138
TABLE 97 PERMANENT MAGNET MOTOR MARKET IN REST OF NORTH AMERICA,
BY POWER RATING, 2019–2026 (USD MILLION) 138
9.3.9 BY END-USE INDUSTRY 138
TABLE 98 PERMANENT MAGNET MOTOR MARKET IN REST OF NORTH AMERICA,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 138
TABLE 99 PERMANENT MAGNET MOTOR MARKET IN REST OF NORTH AMERICA FOR INDUSTRIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 139
TABLE 100 PERMANENT MAGNET MOTOR MARKET IN REST OF NORTH AMERICA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 139
9.4 EUROPE 140
9.4.1 PRICE TREND ANALYSIS 140
9.4.2 BY TYPE 141
TABLE 101 PERMANENT MAGNET MOTOR MARKET IN EUROPE, BY TYPE,
2019–2026 (USD MILLION) 141
9.4.3 BY POWER RATING 141
TABLE 102 PERMANENT MAGNET MOTOR MARKET IN EUROPE, BY POWER RATING, 2019–2026 (USD MILLION) 141
9.4.4 BY END-USE INDUSTRY 141
TABLE 103 PERMANENT MAGNET MOTOR MARKET IN EUROPE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 141
TABLE 104 PERMANENT MAGNET MOTOR MARKET IN EUROPE FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 142
TABLE 105 PERMANENT MAGNET MOTOR MARKET IN EUROPE FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 142
9.4.5 BY COUNTRY 143
TABLE 106 PERMANENT MAGNET MOTOR MARKET IN EUROPE, BY COUNTRY,
2019–2026 (USD MILLION) 143
9.4.5.1 Germany 143
9.4.5.1.1 Increasing investment in medical equipment and automotive sectors to fuel demand for PM motors in the country 143
9.4.5.1.2 By type 144
TABLE 107 PERMANENT MAGNET MOTOR MARKET IN GERMANY, BY TYPE,
2019–2026 (USD MILLION) 144
9.4.5.1.3 By power rating 144
TABLE 108 PERMANENT MAGNET MOTOR MARKET IN GERMANY, BY POWER RATING, 2019–2026 (USD MILLION) 144
9.4.6 BY END-USE INDUSTRY 144
TABLE 109 PERMANENT MAGNET MOTOR MARKET IN GERMANY, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 144
TABLE 110 PERMANENT MAGNET MOTOR MARKET IN GERMANY FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 145
TABLE 111 PERMANENT MAGNET MOTOR MARKET IN GERMANY FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 145
9.4.6.1 Russia 146
9.4.6.1.1 Increasing investment in the manufacturing sector expected to increase the demand for PM motors in the country 146
9.4.6.1.2 By type 146
TABLE 112 PERMANENT MAGNET MOTOR MARKET IN RUSSIA, BY TYPE,
2019–2026 (USD MILLION) 146
9.4.6.1.3 By power rating 146
TABLE 113 PERMANENT MAGNET MOTOR MARKET IN RUSSIA, BY POWER RATING, 2019–2026 (USD MILLION) 146
9.4.7 BY END-USE INDUSTRY 147
TABLE 114 PERMANENT MAGNET MOTOR MARKET IN RUSSIA, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 147
TABLE 115 PERMANENT MAGNET MOTOR MARKET IN RUSSIA FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 147
TABLE 116 PERMANENT MAGNET MOTOR MARKET IN RUSSIA FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 148
9.4.7.1 Italy 148
9.4.7.1.1 Increased applications of PM motors across industries drive their demand 148
9.4.7.1.2 By type 148
TABLE 117 PERMANENT MAGNET MOTOR MARKET IN ITALY, BY TYPE,
2019–2026 (USD MILLION) 148
9.4.7.1.3 By power rating 149
TABLE 118 PERMANENT MAGNET MOTOR MARKET IN ITALY, BY POWER RATING,
2019–2026 (USD MILLION) 149
9.4.8 BY END-USE INDUSTRY 149
TABLE 119 PERMANENT MAGNET MOTOR MARKET IN ITALY, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 149
TABLE 120 PERMANENT MAGNET MOTOR MARKET IN ITALY FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 150
TABLE 121 PERMANENT MAGNET MOTOR MARKET IN ITALY FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 150
9.4.8.1 France 151
9.4.8.1.1 Growth of the automotive industry is expected to boost the sales of brushless DC motors 151
9.4.8.1.2 By type 151
TABLE 122 PERMANENT MAGNET MOTOR MARKET IN FRANCE, BY TYPE,
2019–2026 (USD MILLION) 151
9.4.8.1.3 By power rating 151
TABLE 123 PERMANENT MAGNET MOTOR MARKET IN FRANCE, BY POWER RATING, 2019–2026 (USD MILLION) 151
9.4.9 BY END-USE INDUSTRY 152
TABLE 124 PERMANENT MAGNET MOTOR MARKET IN FRANCE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 152
TABLE 125 PERMANENT MAGNET MOTOR MARKET IN FRANCE FOR INDUSTRIAL,
BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 152
TABLE 126 PERMANENT MAGNET MOTOR MARKET IN FRANCE FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 153
9.4.9.1 UK 153
9.4.9.1.1 By type 153
TABLE 127 PERMANENT MAGNET MOTOR MARKET IN UK, BY TYPE,
2019–2026 (USD MILLION) 153
9.4.9.1.2 By power rating 154
TABLE 128 PERMANENT MAGNET MOTOR MARKET IN UK, BY POWER RATING,
2019–2026 (USD MILLION) 154
9.4.10 BY END-USE INDUSTRY 154
TABLE 129 PERMANENT MAGNET MOTOR MARKET IN UK, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 154
TABLE 130 PERMANENT MAGNET MOTOR MARKET IN UK FOR INDUSTRIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 155
TABLE 131 PERMANENT MAGNET MOTOR MARKET IN UK FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 155
9.4.10.1 Rest of Europe 156
9.4.10.1.1 By type 156
TABLE 132 PERMANENT MAGNET MOTOR MARKET IN REST OF EUROPE, BY TYPE,
2019–2026 (USD MILLION) 156
9.4.10.1.2 By power rating 156
TABLE 133 PERMANENT MAGNET MOTOR MARKET IN REST OF EUROPE, BY POWER RATING, 2019–2026 (USD MILLION) 156
9.4.11 BY END-USE INDUSTRY 157
TABLE 134 PERMANENT MAGNET MOTOR MARKET IN REST OF EUROPE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 157
TABLE 135 PERMANENT MAGNET MOTOR MARKET IN REST OF EUROPE FOR INDUSTRIAL, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 157
TABLE 136 PERMANENT MAGNET MOTOR MARKET IN REST OF EUROPE FOR COMMERCIAL & RESIDENTIAL, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 158
9.5 MIDDLE EAST & AFRICA 158
9.5.1 PRICE TREND ANALYSIS 159
9.5.2 BY TYPE 159
TABLE 137 PERMANENT MAGNET MOTOR MARKET IN MIDDLE EAST & AFRICA, BY TYPE, 2019–2026 (USD MILLION) 159
9.5.3 BY POWER RATING 160
TABLE 138 PERMANENT MAGNET MOTOR MARKET IN MIDDLE EAST & AFRICA,
BY POWER RATING, 2019–2026 (USD MILLION) 160
9.5.4 BY END-USE INDUSTRY 160
TABLE 139 PERMANENT MAGNET MOTOR MARKET IN MIDDLE EAST, BY END-USE