Permanent Magnet Motor Market

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Introduction • Permanent Magnet Motor Market is expected to garner $45.3 billion by 2020, registering a CAGR of 11.7% during the period 2014-2020 • The permanent magnet AC and DC motors are increasingly used in factory automation applications such as robotics and material handling, amongst the others • Permanent magnet AC motors (PMAC) are efficient, render precise speed control, has higher power density, and longer bearing & insulation life over AC induction motors • With the advent of robots for material handling, and the requirement of high precision work with minimal errors, would help the PM motors market to grow exponentially over the years • The improved efficiency of PM motors and their integration in automobiles and electric cars, dynamically supplement the growth of the permanent magnet motors market, globally
Key Factors of the Market • Presently, the permanent magnet AC and DC motors are increasingly used in factory automation applications such as robotics and material handling, amongst the others • The increasing use of permanent magnets, owing to its unique properties, subsequently, should supplement the growth of the permanent magnet motor market • The market is witnessing an increasing demand for permanent magnets from the countries with abundant resources of rare earth materials • The industry is witnessing a shift from induction motors to permanent magnet motors, in order to improve the performance of the device whilst rendering lower levels of power consumption
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Permanent Magnet Motor Market

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