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US Permanent Magnet Motor Market

ID: MRFR/EnP/14396-HCR
100 Pages
Garvit Vyas
October 2025

US Permanent Magnet Market Research Report By Type (Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets, Others) and By End Use (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense, Others) - Forecast to 2035

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US Permanent Magnet Motor Market Infographic
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US Permanent Magnet Motor Market Summary

As per MRFR analysis, the US permanent magnet-motor market size was estimated at 6.5 USD Billion in 2024. The US permanent magnet-motor market is projected to grow from 7.01 USD Billion in 2025 to 15.0 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 7.9% during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The US permanent magnet-motor market is poised for substantial growth driven by technological advancements and increasing demand in key sectors.

  • The largest segment in the US permanent magnet-motor market is the electric vehicle sector, which is experiencing rapid growth.
  • Technological advancements in motor design are enhancing performance and efficiency, making permanent magnet motors more attractive.
  • The fastest-growing segment is automation and robotics, reflecting a shift towards more intelligent manufacturing processes.
  • Key market drivers include rising demand for renewable energy solutions and increased investment in electric mobility.

Market Size & Forecast

2024 Market Size 6.5 (USD Billion)
2035 Market Size 15.0 (USD Billion)

Major Players

Siemens (DE), General Electric (US), Mitsubishi Electric (JP), ABB (CH), Nidec Corporation (JP), Bosch (DE), Emerson Electric (US), Rockwell Automation (US), Regal Beloit (US)

US Permanent Magnet Motor Market Trends

the market is currently experiencing a notable transformation, driven by advancements in technology and increasing demand for energy-efficient solutions. As industries strive to reduce their carbon footprint, the adoption of permanent magnet motors is becoming more prevalent. These motors offer superior efficiency compared to traditional alternatives, which aligns with the growing emphasis on sustainability and environmental responsibility. Furthermore, the integration of automation and smart technologies in manufacturing processes is propelling the need for high-performance motors, thereby enhancing the market's growth potential. In addition, the market is witnessing a shift towards electrification across various sectors, including automotive and industrial applications. This transition is largely influenced by regulatory frameworks aimed at promoting cleaner energy sources. As electric vehicles gain traction, the demand for efficient and compact motors is expected to rise significantly. Moreover, ongoing research and development efforts are likely to yield innovative designs and materials, further enhancing the performance and reliability of these motors. Overall, the landscape of the permanent magnet-motor market appears promising, with numerous opportunities for growth and innovation on the horizon.

Increased Adoption in Electric Vehicles

The shift towards electric vehicles is significantly influencing the permanent magnet-motor market. As manufacturers focus on developing more efficient and compact motors, the demand for these technologies is expected to rise. This trend is driven by consumer preferences for sustainable transportation options and regulatory incentives promoting electric mobility.

Technological Advancements

Ongoing innovations in materials and design are enhancing the performance of permanent magnet motors. Developments in rare earth magnets and advanced manufacturing techniques are likely to improve efficiency and reduce costs. This trend suggests a competitive edge for manufacturers who invest in research and development.

Focus on Energy Efficiency

The growing emphasis on energy efficiency across various industries is propelling the permanent magnet-motor market. As companies seek to lower operational costs and meet environmental standards, the demand for high-efficiency motors is increasing. This trend indicates a shift towards sustainable practices in manufacturing and energy consumption.

US Permanent Magnet Motor Market Drivers

Growth in Automation and Robotics

The permanent magnet-motor market is significantly influenced by the rapid growth in automation and robotics across various industries. As manufacturers seek to enhance productivity and reduce operational costs, the integration of advanced motor technologies becomes essential. Permanent magnet motors are favored for their compact size, high torque density, and energy efficiency, making them ideal for robotic applications. The U.S. robotics market is expected to reach $20 billion by 2026, with a substantial portion attributed to the adoption of permanent magnet motors. This growth reflects a broader trend towards automation, which is likely to bolster the demand for permanent magnet motors in manufacturing, logistics, and other sectors.

Increased Investment in Electric Mobility

The permanent magnet-motor market is poised for growth due to the increased investment in electric mobility solutions. With the U.S. government and private sector committing substantial resources to develop electric vehicles (EVs), the demand for efficient and high-performance motors is escalating. Permanent magnet motors are integral to EV design, providing the necessary power and efficiency for optimal performance. Recent estimates suggest that the U.S. EV market could reach $800 billion by 2030, indicating a significant opportunity for the permanent magnet-motor market. This investment trend not only supports the automotive industry but also enhances the overall market landscape for permanent magnet motors.

Technological Innovations in Motor Design

The permanent magnet-motor market is benefiting from ongoing technological innovations in motor design and manufacturing processes. Advances in materials science, such as the development of high-energy-density magnets, are enhancing the performance characteristics of permanent magnet motors. These innovations lead to lighter, more efficient motors that can operate under a wider range of conditions. The U.S. market is witnessing a shift towards smart motors that incorporate IoT technology, allowing for real-time monitoring and optimization. This trend suggests a growing demand for advanced permanent magnet motors that can meet the needs of modern applications, thereby driving market growth.

Rising Demand for Renewable Energy Solutions

The permanent magnet-motor market is experiencing a notable surge in demand due to the increasing focus on renewable energy solutions. As the U.S. transitions towards sustainable energy sources, the need for efficient motors in wind turbines and solar energy systems becomes paramount. Permanent magnet motors, known for their high efficiency and reliability, are being integrated into these systems to enhance performance. According to recent data, the renewable energy sector is projected to grow at a CAGR of approximately 8% through 2027, driving the adoption of permanent magnet motors. This trend indicates a robust market opportunity for manufacturers and suppliers within the permanent magnet-motor market, as they align their products with the evolving energy landscape.

Regulatory Support for Energy Efficiency Standards

The permanent magnet-motor market is positively impacted by regulatory support aimed at enhancing energy efficiency standards across various sectors. The U.S. government has implemented stringent regulations that encourage the adoption of energy-efficient technologies, including permanent magnet motors. These regulations not only promote sustainability but also provide financial incentives for businesses to upgrade their motor systems. As industries strive to comply with these standards, the demand for permanent magnet motors is likely to increase. This regulatory environment creates a favorable landscape for manufacturers in the permanent magnet-motor market, as they align their offerings with the evolving compliance requirements.

Market Segment Insights

By Application: Electric Vehicles (Largest) vs. Renewable Energy (Fastest-Growing)

In the US permanent magnet-motor market, Electric Vehicles (EVs) dominate the application segment, capturing a significant share owing to the accelerating shift towards sustainable transportation. Following EVs, Industrial Automation and Home Appliances also hold considerable market shares, driven by technological advancements and the increasing demand for efficient and compact motor solutions. Renewable Energy and Robotics are emerging segments that are rapidly gaining traction as industries explore innovative uses for permanent magnet motors. The growth trends in this segment are primarily influenced by the push towards electrification and sustainability. Electric Vehicles are bolstered by government incentives and the growing consumer preference for green technologies. Similarly, Renewable Energy is propelled by the transition to greener sources, with permanent magnet motors being essential for wind and solar applications. Robotics is seeing an upswing as automation and artificial intelligence take center stage across various industries, leading to the adoption of advanced motor technologies.

Electric Vehicles (Dominant) vs. Robotics (Emerging)

Electric Vehicles represent a dominant force in the US permanent magnet-motor market, benefitting from advancements in battery technology and rising environmental regulations that favor electric mobility. These motors are preferred for their efficiency and high torque capabilities, making them ideal for automotive applications. In contrast, Robotics, characterized as an emerging segment, leverages permanent magnet motors for precision and flexibility. The surge in demand for automation across various sectors, such as manufacturing and healthcare, coupled with the advent of AI and machine learning, positions Robotics as a rapidly growing segment, providing various innovative applications with enhanced capabilities that complement the strengths of permanent magnet motors.

By Type: Synchronous Motors (Largest) vs. Brushless DC Motors (Fastest-Growing)

In the US permanent magnet-motor market, the distribution of market share among different motor types reveals that Synchronous Motors currently hold the largest share, driven by their efficiency and reliability in various applications. Brushless DC Motors, while accounting for a smaller share compared to Synchronous Motors, are gaining traction rapidly due to advancements in technology and increasing demand for energy-efficient solutions. The growth trends within the market indicate a strong potential for Brushless DC Motors, which are expected to experience the fastest growth among the types analyzed. The increasing push for electrification in automotive and industrial sectors is propelling this growth, as manufacturers seek motors that provide high performance while minimizing energy consumption and environmental impact. Additionally, Synchronous Motors benefit from established industrial applications, maintaining their dominance even as newer technologies emerge.

Synchronous Motors (Dominant) vs. Brushless DC Motors (Emerging)

Synchronous Motors have long been recognized as a dominant force in the US permanent magnet-motor market, favored for their operational efficiency and ability to maintain synchronous speed regardless of load variations. Predominantly used in industrial applications, these motors excel in high-torque situations, making them essential for manufacturing and automation processes. On the other hand, Brushless DC Motors represent an emerging segment, characterized by their compact design and lower maintenance needs. Their rapid growth is attributed to the increasing adoption in consumer electronics and electric vehicles, where their efficiency and performance are paramount. These motors are also appreciated for their enhanced control and longevity, making them a competitive choice against traditional motor types.

By End Use: Transportation (Largest) vs. Residential (Fastest-Growing)

The US permanent magnet-motor market demonstrates a diverse distribution among its end-use segments, prominently featuring Transportation as the largest segment. This segment benefits from the rising demand for electric vehicles, buses, and trains, propelling its market share significantly. In contrast, Residential applications are on the rise, driven by a surge in smart homes and energy-efficient appliances, contributing to its rapid growth. Analyzing growth trends reveals that the Transportation segment is bolstered by advancements in electric mobility, innovations in battery technology, and government initiatives promoting clean energy. Meanwhile, the Residential segment is gaining momentum due to increasing awareness of sustainable living, coupled with technological advancements that facilitate the integration of permanent magnet motors in everyday household devices, underscoring its status as the fastest-growing segment in the market.

Transportation (Dominant) vs. Residential (Emerging)

Transportation is a dominant segment within the US permanent magnet-motor market, characterized by its extensive application in electric vehicles, subways, and other public transport systems. This segment stands out due to its alignment with environmental regulations and the global shift towards electrification. Enhanced performance, efficiency, and reliability of these motors make them the preferred choice in this sector. In contrast, the Residential segment, identified as emerging, is rapidly expanding as automation and energy efficiency in homes become priorities. With innovations in smart home technologies, this segment is poised to capture a significant market share, leveraging the trend towards renewable energy sources and energy-efficient installations which is expected to drive consistent demand over the coming years.

By Cooling Method: Air-Cooled (Largest) vs. Liquid-Cooled (Fastest-Growing)

In the US permanent magnet-motor market, the Air-Cooled segment holds a significant share, dominating the cooling method preferences among consumers. This method is favored for its simplicity, cost-effectiveness, and lower maintenance requirements, making it the most widely adopted choice in various applications. Meanwhile, the Liquid-Cooled segment, while smaller in terms of market share, is gaining traction as industries seek advanced cooling solutions that enhance efficiency and performance, particularly in high-demand settings. The growth of the Liquid-Cooled segment is primarily driven by the increasing demand for energy-efficient and high-performance motors. As technological advancements continue to improve liquid-cooling systems, their popularity is rising, particularly where operational efficiency and thermal management are critical. The need for reduced energy consumption in industrial operations also catalyzes this growth, encouraging adoption across a range of sectors that utilize permanent magnet motors.

Cooling Method: Air-Cooled (Dominant) vs. Liquid-Cooled (Emerging)

The Air-Cooled segment is dominant due to its established infrastructure and widespread acceptance in various applications, making it the go-to choice for many consumers in the US permanent magnet-motor market. Its advantages lie in lower operating costs, ease of installation, and minimal complexity. In contrast, the Liquid-Cooled segment is emerging as a preferred option in applications requiring superior thermal management and performance. This method offers improved heat dissipation capabilities, which cater to more demanding operational environments, leading to a gradual shift in preferences as industries become increasingly focused on energy efficiency and performance optimization.

By Magnet Type: Neodymium Iron Boron (Largest) vs. Samarium Cobalt (Fastest-Growing)

In the US permanent magnet-motor market, Neodymium Iron Boron (NdFeB) magnets hold the largest share, attributed to their superior magnetic properties and widespread applications across various industries. In comparison, Samarium Cobalt (SmCo) magnets, while smaller in market share, are gaining traction due to their ability to withstand high temperatures and corrosive environments, making them ideal for specific high-performance applications. The growth trends in this segment are driven by the increasing demand for energy-efficient motors and advancements in electric vehicle technology. Neodymium Iron Boron is experiencing sustained demand due to its application in renewable energy sources, while Samarium Cobalt is becoming increasingly relevant in niche markets where durability and heat resistance are critical. The rapid development of sectors such as electronics and electric vehicles further boosts the adoption of these magnet types.

Neodymium Iron Boron (Dominant) vs. Samarium Cobalt (Emerging)

Neodymium Iron Boron magnets dominate the market due to their unparalleled strength and efficiency, which makes them essential for high-performance applications like electric vehicle motors and renewable energy systems. Their ability to provide significant magnetic force in a compact size allows for innovative designs and reduced weight in motors. On the other hand, Samarium Cobalt magnets, although currently emerging, are carving out a critical niche. They excel in high-temperature settings and are highly resistant to demagnetization, making them suitable for aerospace, military, and high-performance industrial applications. As the demand for specialized magnets continues to grow, both segments are expected to coexist, with NdFeB leading in volume and SmCo expanding in specialized markets.

Get more detailed insights about US Permanent Magnet Motor Market

Key Players and Competitive Insights

The permanent magnet-motor market is currently characterized by a dynamic competitive landscape, driven by technological advancements and increasing demand for energy-efficient solutions. Key players such as General Electric (US), Siemens (DE), and ABB (CH) are strategically positioned to leverage their extensive R&D capabilities and global reach. General Electric (US) focuses on innovation in electric motor technology, emphasizing sustainability and efficiency, while Siemens (DE) is enhancing its digital transformation initiatives to optimize manufacturing processes. ABB (CH) is actively pursuing partnerships to expand its product offerings and market presence, thereby shaping a competitive environment that prioritizes technological leadership and operational excellence.

In terms of business tactics, companies are increasingly localizing manufacturing to reduce lead times and enhance supply chain resilience. The market structure appears moderately fragmented, with several players vying for market share. However, the collective influence of major companies like Nidec Corporation (JP) and Emerson Electric (US) is notable, as they implement strategies that focus on supply chain optimization and customer-centric solutions, further intensifying competition.

In October 2025, General Electric (US) announced a significant investment in a new manufacturing facility aimed at producing high-efficiency permanent magnet motors. This strategic move is expected to enhance their production capacity and reduce costs, aligning with the growing demand for energy-efficient solutions in various industries. The establishment of this facility not only signifies GE's commitment to innovation but also positions the company to better serve its North American customer base.

In September 2025, Siemens (DE) launched a new line of smart permanent magnet motors integrated with IoT capabilities. This development reflects Siemens' focus on digitalization and the integration of advanced technologies into their product offerings. By enhancing connectivity and data analytics, Siemens aims to provide customers with improved operational efficiency and predictive maintenance solutions, thereby reinforcing its competitive edge in the market.

In August 2025, ABB (CH) entered into a strategic partnership with a leading renewable energy firm to co-develop advanced permanent magnet motors tailored for wind turbine applications. This collaboration underscores ABB's commitment to sustainability and innovation, as it seeks to expand its footprint in the renewable energy sector. The partnership is likely to enhance ABB's product portfolio and strengthen its position as a leader in energy-efficient motor solutions.

As of November 2025, current trends in the permanent magnet-motor market indicate a strong emphasis on digitalization, sustainability, and AI integration. Strategic alliances are increasingly shaping the competitive landscape, allowing companies to pool resources and expertise. Looking ahead, it appears that competitive differentiation will evolve from traditional price-based competition to a focus on innovation, technological advancements, and supply chain reliability. This shift suggests that companies that prioritize R&D and sustainable practices are likely to emerge as leaders in the market.

Key Companies in the US Permanent Magnet Motor Market market include

Industry Developments

The US Permanent Magnet Market has witnessed significant developments in recent months. Key players like Hitachi Metals and Magnequench continue to enhance their operations, focusing on sustainable practices and cutting-edge technology amid the global push for greener energy solutions. General Motors is making strides in electric vehicle production, heavily relying on high-performance permanent magnets for increased efficiency. In terms of mergers and acquisitions, in August 2023, Lincoln Electric announced its acquisition of a smaller, tech-heavy competitor to enhance its technology and product offerings.

In the past two years, the market has noted substantial growth, with a valuation increase driven by the rising demand for electronics, electric vehicles, and renewable energy applications. Companies will benefit from the growing investments in Research and Development, aiming to innovate better and more efficient permanent magnets. Additionally, increasing government incentives for clean technology projects have positively influenced the market dynamics, leading to alliances and collaborations among firms like Nidec Corporation and BASF.

The emphasis on supply chain resilience is also leading to partnerships among industry players to mitigate disruptions while ensuring a stable supply of raw materials essential for production.

Future Outlook

US Permanent Magnet Motor Market Future Outlook

The permanent magnet-motor market is projected to grow at a 7.9% CAGR from 2024 to 2035, driven by advancements in energy efficiency and increasing demand for electric vehicles.

New opportunities lie in:

  • Development of high-efficiency motors for renewable energy applications.
  • Integration of IoT technology for predictive maintenance solutions.
  • Expansion into electric vehicle charging infrastructure with specialized motors.

By 2035, the market is expected to achieve substantial growth, driven by innovation and increased adoption.

Market Segmentation

US Permanent Magnet Motor Market Type Outlook

  • Synchronous Motors
  • Brushless DC Motors
  • Stepper Motors
  • Switched Reluctance Motors

US Permanent Magnet Motor Market End Use Outlook

  • Transportation
  • Manufacturing
  • Residential
  • Commercial

US Permanent Magnet Motor Market Application Outlook

  • Electric Vehicles
  • Industrial Automation
  • Home Appliances
  • Renewable Energy
  • Robotics

US Permanent Magnet Motor Market Magnet Type Outlook

  • Neodymium Iron Boron
  • Samarium Cobalt
  • Ferrite

US Permanent Magnet Motor Market Cooling Method Outlook

  • Air-Cooled
  • Liquid-Cooled

Report Scope

MARKET SIZE 2024 6.5(USD Billion)
MARKET SIZE 2025 7.01(USD Billion)
MARKET SIZE 2035 15.0(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR) 7.9% (2024 - 2035)
REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR 2024
Market Forecast Period 2025 - 2035
Historical Data 2019 - 2024
Market Forecast Units USD Billion
Key Companies Profiled Siemens (DE), General Electric (US), Mitsubishi Electric (JP), ABB (CH), Nidec Corporation (JP), Bosch (DE), Emerson Electric (US), Rockwell Automation (US), Regal Beloit (US)
Segments Covered Application, Type, End Use, Cooling Method, Magnet Type
Key Market Opportunities Growing demand for energy-efficient solutions drives innovation in the permanent magnet-motor market.
Key Market Dynamics Rising demand for energy-efficient solutions drives innovation and competition in the permanent magnet-motor market.
Countries Covered US

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FAQs

What is the expected market size of the US Permanent Magnet Motor Market in 2024?

The US Permanent Magnet Motor Market is expected to be valued at 4.1 USD Billion in 2024.

What will be the projected market size by 2035 for the US Permanent Magnet Motor Market?

By 2035, the US Permanent Magnet Motor Market is projected to reach a value of 7.5 USD Billion.

What is the expected CAGR for the US Permanent Magnet Motor Market from 2025 to 2035?

The market is expected to grow at a CAGR of 5.644 % from 2025 to 2035.

Which application is projected to be the largest segment in the US Permanent Magnet Motor Market by 2035?

The Electric Vehicles segment is projected to be the largest, valued at 2.4 USD Billion by 2035.

What are the anticipated values of the Industrial Automation application by 2035?

The Industrial Automation application is expected to reach a value of 1.8 USD Billion by 2035.

Who are the key players in the US Permanent Magnet Motor Market?

Major players include Emerson Electric, Parker Hannifin, Regal Beloit, ABB, and Siemens among others.

What is the expected market value for Home Appliances within the US Permanent Magnet Motor Market in 2035?

The Home Appliances segment is expected to be valued at 1.2 USD Billion by 2035.

What is the projected market value of the Renewable Energy application segment in 2035?

The Renewable Energy segment is projected to reach a value of 1.5 USD Billion by 2035.

What growth opportunities exist for the Robotics application in the US Permanent Magnet Motor Market?

The Robotics application is expected to double in value by 2035, reaching 0.6 USD Billion.

What trends are expected to drive growth in the US Permanent Magnet Motor Market over the next decade?

Technological advancements in electric vehicles and increased automation across industries are key growth drivers.

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