Portland, June 13, 2019 (GLOBE NEWSWIRE) -- According to the report, the global IE4 permanent magnet synchronous motors market was pegged at $101.74 million in 2017 and is expected to reach $206.62 million by 2025, growing at a CAGR of 9.8% from 2018 to 2025.
Increased demand for energy-efficient motors and surge in adoption of motors with minimum operation cost have boosted the growth of the global IE4 permanent magnet synchronous motors market. However, the incessant challenges faced by domestic manufacturers to adapt to the mass production of IE4 PMS motors hamper market growth. On the contrary, rapid development in design methods to reduce carbon emission is expected to create lucrative opportunities in the near future.
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The market is categorized on the basis of product, application, and geography. Based on the product, the market is segmented into less than 20kW, 20–200kW, and more than 200kW. The 20-200 kW segment held the largest share in 2017, accounting for half of the total market and is estimated to continue its dominance through 2025, owing to its greater energy efficiency and high demand in the sugar processing industry. However, the more than 200 kW segment is expected to manifest the fastest CAGR of 10.3% during the forecast period.
On the basis of application, the market is divided into material handling, liquid pumps, fans & ventilation, cooling compressors, air compressors & vacuum pumps, blowers, and coolers. The air compressors & vacuum pumps segment dominated the market in 2017 and is projected to continue its dominance by occupying nearly one-fifth of total market share by 2025. However, the coolers segment is expected to register the fastest CAGR of 10.4% during the forecast period.
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the lion’s share in 2017, contributing more than two-fifths of the market. Moreover, the region is estimated to portray the fastest CAGR of 10.3% through 2025, owing to surge in electric vehicle penetration and emergence of manufacturing facilities from the fast-growing economies.
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The market report provides in-depth analysis of the key market players such as Altra Industrial Motion Corp, ABB, Bharat Bijlee, Anhui Wannan Electric Machine Co., Ltd., Danfoss, CG global, Hitachi Ltd., Fuji Electric Co., Ltd., Kienle + Spiess GmbH, Kaeser Kompressoren, Lafert, KSB SE & Co. KGaA, NORD Drive systems, Merkes GmbH, Nidec, OEMER, Siemens AG, O.M.E. Motori Elettrici s.r.l., Toshiba Corporation, VEM Group, and Weg S.A.
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