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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