Research and Markets: Global Permanent Magnet Motor Market 2015-2019 - Key Vendors are Baldor Electric, Franklin Electric, Rockwell Automation & Siemens
Research and Markets (http://www.researchandmarkets.com/research/rx4nq4/global_permanent)
has announced the addition of the "Global
Permanent Magnet Motor Market 2015-2019" report to their
The global permanent magnet motors market is to grow at a CAGR of 11.37%
over the period 2014-2019.
This report covers the present scenario and the growth prospects of the
global permanent magnet motors market for the period 2015-2019. To
calculate the market size, the report considers revenue generated from
the sales of the following motors: NdFeb, samarium cobalt, and ferrite
permanent magnet motors.
A permanent magnet is made from ferromagnetic materials, and it creates
its own magnetic field and retains magnetic properties. A permanent
magnet exhibits magnetic properties even if is removed from a magnetic
field. Permanent magnets can be broadly classified into rare earth,
ferrite, aluminum-nickel-cobalt (Alnico), and other magnets. Permanent
magnet motors are manufactured with permanent magnets in rotors. Rare
earth magnets, made from rare earth metals, are used as the permanent
magnets in this motor. Unlike electromagnets, permanent magnets do not
require continuous electric energy to maintain their electric field.
The demand for integration of solar and wind energy into the electrical
grid system has recently seen an unprecedented increase. These renewable
sources of energy, when harnessed, can be used as substitutes to the
existing thermal energy and other hydrocarbon sources of energy.
However, the level of energy content in solar and wind energy is less
than that in non-renewable sources of energy. Because of their
non-polluting and renewable nature, these sources of energy find ready
adoption. Advanced wind power technologies and energy storage systems
use permanent magnets in products such as motors and generators, holding
and separation products, and many electrical and electronic industrial
process appliances. Increasing dependence on renewable sources of energy
will lead to the growth of the global permanent magnet motor market.
According to the report, ferrite magnets are abundant in nature, low
cost, and can prevent eddy currents even in low frequency applications.
Presently, manufacturers are shifting to ferrite magnets instead of
costly permanent magnets to bring down the overall cost of motors.
Currently, ferrite permanent magnet motors with a 2.2 kW rating can
operate with 93% efficiency. Vendors are focusing on increasing the
capacity further with R&D. Increased use of low-cost ferrite magnets in
motors is driving market growth.
Further, the report states that the high price of rare earth magnets is
hindering the market growth.
Other Prominent Vendors
Allied Motion Technologies
Johnson Electric Holdings
For more information visit http://www.researchandmarkets.com/research/rx4nq4/global_permanent
View source version on businesswire.com: http://www.businesswire.com/news/home/20150911005339/en/
Copyright Business Wire 2015
Source: Business Wire
(September 11, 2015 - 7:50 AM EDT)
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