Permanent Magnet Synchronous Motor Market to 2020 - Europe is Expected to Grow at the Highest CAGR oBy Susi | Published on Nov 25,2015
DUBLIN, Aug. 13, 2015 /PRNewswire/ --
Research and Markets has announced the addition of the"Permanent Magnet Synchronous Motor Market by Mounting Type, by Application and by Region - Global Trends & Forecasts to 2020" report to their offering.
"Permanent Magnet Synchronous Motor Market by Mounting Type (Horizontal & Vertical), Power Rating (Below 375 kW and Above 375 kW), by Application (Oil & Gas, Industrial & Manufacturing, Power, & Transportation), by Region - Global Trends & Forecasts to 2020"
This report caters to PMSM manufacturers, dealers, suppliers, permanent magnet providers, raw material providers, consulting companies in the energy and power sector, government and research organizations, electric motor associations, power & electrical associations, and investment banks. The advantages of the PMSM such as high power density, fast dynamic response, and high efficiency would boost its usage in motor applications. Apart from this, PMSMs have a 30% to 60% higher torque capacity with faster acceleration and deceleration, as compared to asynchronous type motors. These drivers are likely to push the PMSM market over other motor types. The global PMSM market was valued at USD 14.32 Billion in 2014. It is expected to reach USD 25.18 Billion by 2020.
Asia-Pacific dominated the market with a share of about 35% in 2014. It is estimated to be the fastest growing market at a CAGR of 10.5% from 2015 to 2020. Meanwhile, Europe is expected to grow at the highest CAGR of 12.0% during the forecast period.