PORTLAND, Oregon, May 13, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "IE4 Permanent Magnet Synchronous Motors Market by Product (Less than 20kW, 20-200kW, and More than 200kW) and Application (Material Handling, Liquid Pumps, Fans & Ventilation, Cooling Compressors, Air Compressors & Vacuum Pumps, Blowers, and Coolers): Global Opportunity Analysis and Industry Forecast, 2013-2025". According to the report, the global IE4 permanent magnet synchronous motors market accounted for $101.74 million in 2017 and is expected to garner $206.62 million by 2025, registering a CAGR of 9.8% during the forecast period, 2018-2025.
The growth of the global IE4 permanent magnet synchronous motors market is driven by increased demand for energy-efficient motors and rise in adoption of motors with minimum operating cost. However, the constant challenges faced by domestic manufacturers to adapt to mass production of IE4 PMS motors impede the market growth. Nonetheless, rapid improvements in design methods to reduce carbon emissions would provide lucrative opportunities to emerging market players in the near future.
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20-200 kW segment to maintain its lions share in the near future
By product, the 20-200 kW segment generated almost one-half of the total market revenue in 2017 and is expected to continue its dominance through 2025. This is attributed to its greater energy efficiency that has propelled its demand in sugar processing industry. However, the >200 kW segment is poised to grow at the highest CAGR of 10.3% during the forecast period.
Coolers segment to encounter the fastest growth rate through 2025
By application, the coolers segment is projected to register the highest CAGR of 10.4% from 2018 to 2025, owing to rise in investments in wind power generation. However, the air compressors & vacuum pumps segment is expected continue its dominance and occupy almost one-fifth of the overall shares by 2025.
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Asia-Pacific to garner the largest revenue throughout the forecast period
Asia-Pacific contributed more than two-fifths of the overall market revenue in 2017 and is expected to maintain its lions share throughout the forecast period, owing to increased utilization of the motors in packaging & plastic processing industries throughout the region. The segment is also anticipated to grow at the highest CAGR of 10.3% from 2018 to 2025, on account of rise in industrial activities, surge in electric vehicle penetration, and emergence of manufacturing facilities from fast growing economies.
Torchbearers of the industry
The key players analyzed in the report include ABB, Altra Industrial Motion Corp, Anhui Wannan Electric Machine Co., Ltd., Bharat Bijlee, CG global, Danfoss, Fuji Electric Co., Ltd., Hitachi Ltd., Kaeser Kompressoren, Kienle + Spiess GmbH, KSB SE & Co. KGaA, Lafert, Merkes GmbH, Nidec, NORD Drive systems, O.M.E. Motori Elettrici s.r.l., OEMER, Siemens AG, Toshiba Corporation, VEM Group, and Weg S.A. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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