What is Global Automotive Permanent Magnet Synchronus Motor Market?
The Global Automotive Permanent Magnet Synchronous Motor Market is a vast and dynamic sector that plays a crucial role in the automotive industry. This market revolves around the production, distribution, and use of Permanent Magnet Synchronous Motors (PMSM) in automobiles. These motors are a type of AC motor that uses magnets to generate the magnetic field, providing high efficiency and performance. They are widely used in electric and hybrid vehicles due to their compact size, high power density, and excellent control characteristics. The market is driven by the increasing demand for energy-efficient vehicles, stringent emission regulations, and advancements in motor technologies. The global market is also influenced by various factors such as the growth of the automotive industry, the rise in electric vehicle production, and the increasing need for fuel-efficient motors.
Surface PMSM (SPMSM) Type, Interior PMSM (IPMSM) Type in the Global Automotive Permanent Magnet Synchronus Motor Market:
The Global Automotive Permanent Magnet Synchronous Motor Market is segmented into two types based on the motor design: Surface PMSM (SPMSM) and Interior PMSM (IPMSM). The SPMSM type has magnets mounted on the surface of the rotor, which results in a simple and robust design. This type of motor is widely used in applications that require high torque and power density. On the other hand, the IPMSM type has magnets embedded in the rotor, which provides better thermal management and higher efficiency. This type of motor is commonly used in high-speed applications due to its superior performance and durability. Both types of motors have their unique advantages and are chosen based on the specific requirements of the application. The choice between SPMSM and IPMSM depends on factors such as cost, performance, efficiency, and application requirements.
Passenger Cars, Commercial Vehicles in the Global Automotive Permanent Magnet Synchronus Motor Market:
The Global Automotive Permanent Magnet Synchronous Motor Market finds its application predominantly in two areas: Passenger Cars and Commercial Vehicles. In passenger cars, these motors are used to enhance the performance and efficiency of the vehicle. They are used in various systems such as power steering, HVAC, and powertrain to provide smooth and efficient operation. In commercial vehicles, these motors are used to improve the fuel efficiency and reduce the emission levels. They are used in systems such as propulsion, power generation, and auxiliary systems to provide reliable and efficient operation. The use of PMSM in these vehicles helps in reducing the overall operational cost and improving the vehicle performance. The increasing demand for fuel-efficient vehicles and the rise in electric vehicle production are driving the use of PMSM in these areas.
Global Automotive Permanent Magnet Synchronus Motor Market Outlook:
Looking at the market outlook, the Global Automotive Permanent Magnet Synchronous Motor Market was valued at a significant US$ 1856 million in 2023. The market is expected to witness substantial growth, reaching an estimated value of US$ 2548.3 million by 2030. This growth trajectory translates to a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period from 2024 to 2030. This growth is primarily driven by the increasing demand for energy-efficient vehicles, stringent emission regulations, and advancements in motor technologies. The market is also influenced by the growth of the automotive industry, the rise in electric vehicle production, and the increasing need for fuel-efficient motors.
| Report Metric | Details |
| Report Name | Automotive Permanent Magnet Synchronus Motor Market |
| Accounted market size in 2023 | US$ 1856 million |
| Forecasted market size in 2030 | US$ 2548.3 million |
| CAGR | 4.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Johnson Electric Group (China), Kofu Meidensha Electric (Japan), Mitsubishi Heavy Industries (Japan), Myway Plus (Japan), Tsuzuki (Japan), Delta Group (Taiwan), Leonardo DRS (Italy), ABB (USA), ZIEHL-ABEGG (Germany) |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
