New Report: Permanent Magnet Motor Market to Reach $93.75 billion in 2030
The global Permanent Magnet Motor Market is anticipated to grow from estimated USD 58.68 billion in 2025 to USD 93.75 billion by 2030, at a CAGR of 9.8% during the forecast period. The Permanent Magnet Motor Market is experiencing significant global growth due to the increasing demand for high-performance and energy-efficient motors across various applications. Permanent magnet motors utilize permanent...
Increasing adoption of the energy efficient standards in the industry of motors
The applications in the energy efficient motors market vary from one another and have a diversified base in various industrial sectors.. Electric motors may consumenearly 30% to 40% of the global generated electricity. Electric motors are used by the end-users where mechanical energy is required. The basic principle of the electric motors is to convert electrical energy into rotary mechanical energy,...