Permanent Magnet Motor Market Permanent magnet motor market forecast, 2016-2024 | Page 8

Permanent Magnet Motor Market Key Findings
 The global permanent magnet motor market was valued at
$28.24 billion in 2016, and is projected to reach $74.33
billion by 2024.
 The permanent magnet DC motors hold nearly 47% of the
overall market.
 Factory automation held nearly 30% of the overall market
share in 2016.
 Asia-Pacific leads the world PMSM market, accounting for
more than 50% of the overall market revenue in 2016.
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