A permanent magnet is a substance that, like a magnet, has a magnetic field without the need for an external current. Generally, permanent magnet materials are used as the magnetic poles of the motor. The main function of the permanent magnet of the motor is to generate a magnetic field. During the rotation process, the winding cuts the magnetic induction line generated by it to generate electricity, and vice versa.
According to the new market research report “Global Permanent Magnet Motor Market Report 2023-2029”, published by QYResearch, the global Permanent Magnet Motor market size is projected to reach USD 26.61 billion by 2029, at a CAGR of 7.5% during the forecast period.
Figure. Global Permanent Magnet Motor Market Size (US$ Million), 2018-2029
Based on or includes research from QYResearch: Global Permanent Magnet Motor Market Report 2023-2029.
Figure. Global Permanent Magnet Motor Top 17 Players Ranking and Market Share（Based on data of 2022, Continually updated）
Based on or includes research from QYResearch: 2022 data information of Global Permanent Magnet Motor Market Report 2023-2029.
The global key manufacturers of Permanent Magnet Motor include Zhong Ke San Huan, TDK Corporation, Zhenghai Magnetics , Proterial (Hitachi Metals), JL MAG Rare-Earth, Ningbo Yunsheng, DMEGC, Shin-Etsu Chemical, Earth-Panda Advance Magnetic Material, Sinomag, etc. In 2022, the global top five players had a share approximately 31.0% in terms of revenue.
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