Permanent magnet is an object that is made from ferromagnetic material and it generates magnetic field with its magnetic properties. Permanent magnet motors are designed with the help of permanent magnets inside the rotors. Rare earth magnets derived from the rare earth metals are used in the manufacturing of permanent magnet motors. Permanent magnets are preferred over electromagnets as the latter one does not need permanent supply of electrical energy to maintain its electric field. Nanocomposite permanent magnets are the latest innovations among the permanent magnets. With the application of permanent magnets- nanocomposite permanent magnets, the size of the motor reduces and the efficiency increases. At present, these magnets have their applications in biomedicine, magnetic storage media, pigments, catalysts and sensors.
Most of the permanent magnet motors are utilized with either DC or AC electric motors. This is because such motors need less power, have exceptional heat dissipation property and provide higher efficiency in comparison with other similar electric motors. Permanent magnet motors have its usage in numerous industrial applications such as Robots, Forklifts, Railroad (track, switchers, crossing gates), Blower drives, Amusement rides and Marine Pumps. Factors such as operational proficiency at a higher temperature, and less bearing currents are helping the permanent magnet motors market to grow exponentially. Furthermore, the torque capacity of permanent magnet synchronous motors is 30% to 60% higher when compared with asynchronous type motors that too with faster deceleration and acceleration. However, high cost of as a result of limited source of raw material and complex design circuitries would slow down the growth of the permanent magnet motors market. Market players are dispatching profoundly productive and low power expending gadgets, to meet the climbing requests of buyers. The business is seeing increasing pattern of vitality productive motors in all applications. In the year 2012, Hitachi dispatched a 11kw, high proficiency permanent magnet synchronous engine, without the utilization of conventional materials. This motor minimized in size, offers an operational effectiveness of roughly 93% and conveys enhanced execution of the motor. The proficiency of engines is separated in different productivity classes specifically Ie1, Ie2, Ie3, Ie4, where Ie4 being most noteworthy effectiveness and Ie1 being least.
The global permanent magnet motors market is divided into magnet type, motor type, applications, power range, and geography. Permanent magnet AC motors (PMAC) are proficient, offer exact speed control, longer insulation & bearing life and have a higher power density as compared to the AC induction motors. Additionally, Samarium Cobalt (SmCo5 and Sm2Co17), Ferrite and Neodymium (NdFeB) are other important magnet types, studied in the report. Aforementioned magnets are utilized in the magnetic pump couplings, motor drives, generators, starter motors, sensors, etc. As a result of moderate cost and capability to operate at a higher temperature, Neodymium magnet is widely used. Consumer, Factory Automation, commercial, medical, Office automation, military and lab equipment are some of the applications where permanent magnet motors are utilized. Moreover, geographical regions such as North America, Europe, Asia Pacific and LAMEA are carefully examined in the report.
KEY MARKET SEGMENTS
MARKET BY MOTOR TYPE
MARKET BY MAGNET TYPE
MARKET BY POWER RANGE
MARKET BY APPLICATIONS
MARKET BY GEOGRAPHY
SIMILAR MARKET STUDIES
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