Global Permanent Magnet Motor Market

Nolan Cameron27 Oct, 2021News

One of the major factors restraining the growth of the permanent magnet motors market is its high cost. A permanent magnet motor delivers high efficiency but is priced high because of the use of costly rare-earth magnets. Although some industrial, as well as commercial electronics manufacturers, are reluctant to invest in permanent magnet motors, this trend is likely to change in the coming years, as permanent magnet motors ensure the reduction in maintenance cost, thereby improving operations in industrial as well as commercial sectors, resulting in high productivity.