Permanent Magnet Synchronous Motors (PMSM) Lead Technological Advancements in Industrial Applications
The global permanent magnet motor market size was valued at USD 52.61 billion in 2024, and is anticipated to grow at a CAGR of 9.5% from 2025 to 2034, driven by accelerating demand for energy-efficient electric motors across smart manufacturing, consumer appliances, automotive, and HVAC sectors . This surge is underpinned by the dominance of permanent magnet AC motors, which offer high...
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