Permanent Magnet Synchronous Motor Industry Outlook 2035: Technological Advances, Key Players, and Expected 7.1% CAGR Growth

Permanent Magnet Synchronous Motor Market Overview

The Permanent Magnet Synchronous Motor Market is witnessing robust expansion due to the rising adoption of energy-efficient motor systems across industries, rapid electrification of transportation, and growing deployment of renewable energy technologies. In addition, advancements in magnetic materials, motor control electronics, and automation technologies are boosting the market’s growth trajectory.

Valued at USD 7.05 Billion in 2024, the market is expected to reach USD 7.55 Billion in 2025 and grow significantly to USD 15.0 Billion by 2035, at a CAGR of 7.1% during 2025–2035.

Market Overview & Forecast

• Market Size 2024: USD 7.05 Billion
• Market Size 2025: USD 7.55 Billion
• Market Size 2035: USD 15.0 Billion
• CAGR (2025–2035): 7.1%
• Base Year: 2024
• Market Forecast Period: 2025–2035
• Historical Data: 2019–2023
• Market Forecast Units: USD Billion
• Report Coverage: Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

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Competitive Landscape

Key global PMSM market players continue to focus on product innovation, energy efficiency optimization, strategic partnerships, and expansion into emerging EV and industrial automation sectors.

Major companies include:

• Yaskawa Electric
• Mitsubishi Electric
• Schneider Electric
• Danfoss
• Robert Bosch
• Nidec Corporation
• Rockwell Automation
• Emerson Electric
• Fairford Electronics
• General Electric
• Siemens
• ABB

Key Market Drivers

• Growing Demand for Energy Efficiency: PMSMs offer high efficiency, reduced heat losses, and superior torque density.
• Technological Advancements: Innovations in rare-earth magnets, motor control systems, and power electronics.
• Rising Renewable Energy Adoption: PMSMs are widely used in wind turbines and solar tracking systems.
• Increasing Industrial Automation: Manufacturing, robotics, and process industries depend heavily on high-efficiency motors.
• Government Regulations on Emissions: Compliance with global energy standards such as IEC, NEMA, and MEPS improves demand.

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Key Market Opportunities

• Rapid expansion of electric vehicles (EVs) requiring high-performance traction motors
• Deployment of PMSMs in renewable energy systems, especially wind turbines
• Increasing automation across manufacturing and industrial sectors
• Advancements in motor efficiency and magnetic materials
• Global shift toward energy conservation and sustainability

Market Trends & Dynamics

• Rising adoption of PMSMs in industrial automation, HVAC, robotics, and automotive applications
• Increasing use of high-speed and low-loss motors for precision industrial systems
• Integration of PMSMs with IoT-enabled motor controllers and smart monitoring systems
• Growing demand for compact, lightweight motors for EVs and portable machinery
• Expansion of PMSM technology into smart appliances and consumer electronics

Market Segmentation

By Type

• Surface Mounted PMSM
• Interior PMSM

By Application

• Traction Motors
• Robotics & Automation
• HVAC Systems
• Renewable Energy Systems
• Industrial Machinery
• Consumer Appliances

By End Use

• Automotive
• Industrial
• Electronics & Consumer Goods
• Power & Energy
• Aerospace & Defense

By Rotational Speed

• Less than 1,000 RPM
• 1,000–5,000 RPM
• Above 5,000 RPM

By Region

• North America
• Europe
• APAC
• South America
• Middle East & Africa (MEA)

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Geographical Insights

North America:

Strong adoption of automation, EV growth, and stringent energy efficiency standards drive the market.

Europe:

Leading region in EV manufacturing, green energy initiatives, and industrial modernization.

APAC:

Fastest-growing market, driven by China, India, Japan, and South Korea’s strong manufacturing and automotive base.

South America:

Moderate growth supported by rising industrialization and renewable energy deployment.

MEA:

Increasing investment in industrial automation and energy-efficient infrastructure.

Future Outlook

The PMSM Market is poised for sustained growth fueled by rising EV penetration, advanced automation solutions, renewable energy expansion, and strict efficiency regulations. With a CAGR of 7.1% from 2025 to 2035, PMSMs will remain essential for high-performance, energy-efficient motor applications across industries worldwide.

Explore our Global Report in Regional Languages

永久磁石同期モータ市場 | Markt für Permanentmagnet-Synchronmotoren | Marché des moteurs synchrones à aimants permanents | 영구자석 동기 모터 시장 | 永磁同步电机市场 | Mercado de motores síncronos de imanes permanentes

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