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The global permanent magnet motor market was valued at USD 31.03 billion in 2018, and is expected to reach USD 52.8 billion by 2024, at a CAGR of 9.42% during the forecast period (2019)

Jun 13, 2019 - PR Newswire

PR Newswire

Market OverviewThe global permanent magnet motor market was valued at USD 31.03 billion in 2018, and is expected to reach USD 52.8 billion by 2024, at a CAGR of 9.42% during the forecast period (2019-2024). Permanent magnet motors have seen a significant rise in their adoption over the years, due to their high efficiency and throughput. This trend is expected to follow over the coming years, owing to product differentiation and innovations supported by market incumbents.

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