Permanent Magnet Motor Market Permanent magnet motor market forecast, 2016-2024 | Page 3

DC motors will dominate the overall PM motor market throughout
the forecast period of 2017-2024
With the growth of factories and industries, permanent magnet DC motors
are rapidly gaining popularity, mainly because of their better characteristics
and performance. These motors are used in numerous industrial sectors
because of their simple construction and easy installation which is suitable
for any critical application. DC motor has a simpler controller, making the
DC motor/controller combination less expensive. However, permanent
magnet AC motors are supposed to witness an impressive growth in the
upcoming future owing to its higher efficiency and lightweight. As per a
research was done by INL, PMAC motors are 5% - 10% more efficient than
DC motors
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