Permanent magnet is an object made up of ferromagnetic material, which has magnetic properties and creates its own magnetic field. Permanent magnet motors are manufactured using permanent magnets in the rotors. Rare earth magnets, made from rare earth metals, are powerful magnets used in PM motors. Unlike electromagnets, permanent magnets do not require continuous electrical energy to maintain their electric field, due to which PM motors are preferred over electromagnetic motors. One of the recent innovations in permanent magnets are the nanocomposite permanent magnets. The use of permanent magnets reduces the size of motors and improves performance, which can be done using nanocomposite permanent magnets. Currently, these magnets are used in magnetic storage media, biomedicine, sensors, pigments and catalysts.
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Most permanent magnet motors are used in combination with AC or DC electric motors. These type of motors require less power, possess excellent heat dissipation property and performs with higher efficiencies as compared to other electric motors. Permanent magnet motors are used in various industrial applications, in order to improve the efficiencies of the machines. Forklifts, Robots, Blower drives, Railroad (switchers, track, crossing gates), Marine Pumps and Amusement rides, are some of the prime examples where permanent magnet motors are used. Presently, various advantages of permanent magnets such as operating capabilities at higher temperatures, (due to less rotor losses) and less bearing currents (due to larger air gaps) are driving the permanent magnet motors market. Additionally, permanent magnet synchronous motors have a 30% to 60% higher torque capacity with faster acceleration and deceleration, as compared to asynchronous type motors. On the other hand, high cost of these motors due to limited raw material sources of magnets and complex construction circuitries for some applications limits the use of these motors across various applications. Market players are launching highly efficient and low power consuming devices, to meet the rising demands of consumers. The market is witnessing growing trend of energy efficient motors in all applications. For instance, in 2012, Hitachi launched an 11kW, high efficiency permanent magnet synchronous motor, without the use of conventional materials. This motor is compact in size, offers an operational efficiency of approximately 93% and delivers improved performance of the motor. The efficiency of motors is divided in various efficiency classes namely IE1, IE2, IE3, IE4, where IE4 being highest efficiency and IE1 being lowest.
The global permanent magnet motors market is segmented based on motor type, magnet type, power range, applications and geography. Permanent magnet AC motors (PMAC) are efficient, render precise speed control, has higher power density, and longer bearing & insulation life over AC induction motors. These advantages drive the PMAC motors. Further, Neodymium (NdFeB), Samarium Cobalt (SmCo5 and Sm2Co17) and Ferrite are some major magnet types, discussed in this report. These magnets are used in the motor drives, magnetic pump couplings, generators, sensors, starter motors etc. Amongst all type of permanent magnet, Neodymium is popularly used magnet due to its operating ability at high temperatures and moderate cost. Further, permanent magnet motors, which are used in varied applications with application specific power range, is elaborated. Factory Automation, Consumer, Office automation, commercial, medical, lab equipment and military are some applications where application specific varied range of permanent magnet motors are used. Additionally, the global market is closely examined across North America, Europe, Asia Pacific and LAMEA.
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Table Of Content Of Permanent Magnet Motor Market:
CHAPTER 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO perspective
2.2 Market beyond: what to expect by 2025
2.2.1 Base case scenario
2.2.2 Rapid growth scenario
2.2.3 Critical growth scenario
CHAPTER 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Single phase motors
3.3 Key findings
3.3.1 Top factors impacting market
3.3.2 Top investment pockets
3.3.3 Top winning strategies
3.4 Porters five force analysis
3.4.1 Low concentration of Buyers and differentiated products lowers the Bargaining Power of Buyer
3.4.2 Less price sensitive buyers, maximizes the Bargaining power of supplier
3.4.3 Unavailability of substitute for permanent magnet motors in the market lead to no threat of substitute
3.4.4 Fragmented buyers and brand loyalty balances the competitive rivalry in the industry
3.4.5 High Initial Investment lowers the threat of new entrant in the industry
3.5 Value chain analysis
3.6 Market share analysis, 2013
3.7 Case studies
3.8 Market dynamics
3.8.1 Drivers
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