Permanent Magnet Motor Market Heads Above $45 Billion

Global sales of permanent magnet (PM) motors will expand at an average annual rate of 11.7% over the coming six years to reach $45.3 billion in 2020. A new report, from Allied Market Research, says that industry is witnessing a shift from induction motors to PM machines, driven by factors such as the PM motors' high efficiencies and power densities, their simple construction, and their durability. 

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