IE4 Permanent Magnet Synchronous Motor Market by Product (Up to 25 kW, 25–100 kW, 100–300 kW, and 300 kW & above) by Application (Material Handling, Liquid Pumps, Fans & Ventilation, Cooling Compressors, Air Compressors & Vacuum Pumps, Blowers, and Coolers) and by End User (Industrial, Commercial, and Residential)- Global Opportunity Analysis and Industry Forecast 2024-2030

Market Definition:

The IE4 Permanent Magnet Synchronous Motor Market size was valued at USD 169.1 million in 2023 and is predicted to reach USD 308.6 million by 2030 with a CAGR of 8.97% from 2024-2030. An IE4 Permanent Magnet Synchronous Motor refers to a specific type of electric motor that falls under the IE4 (International Efficiency) classification, which represents a high level of energy efficiency. These motors utilize permanent magnets in their construction and operate synchronously, meaning they maintain a consistent speed that is synchronized with the frequency of the power supply. IE4 motors are designed to minimize energy consumption and are often used in applications where energy efficiency is a critical consideration, such as industrial machinery and equipment. The process of PMSM uses permanent magnets embedded in steel rotors to generate a constant magnetic field. PMSMs are used in a wide range of applications, including electric vehicles, industrial automation, and renewable energy systems. These motors are characterized by their high efficiency, low energy consumption, and low carbon emissions, making them an attractive choice for a variety of energy-efficient applications such as in industrial fans, pumps, and compressors along with other mechanical applications.

Market Dynamics and Trends

The rising trend of industrial automation and the use of robotics in manufacturing processes are driving the demand for IE4 Permanent Magnet Synchronous Motor Market. According to the latest report published by the International Federation of Robotics, automation is experiencing significant growth across numerous industries, with the adoption of robotics reaching 553,000 units in 2022, representing a 5% increase from 2021.

Also, the rising adoption of IE4 permanent magnet synchronous motors within the heating, ventilation, and air conditioning (HVAC) industry is driven by their exceptional efficiency and capacity to enhance HVAC system performance. With precise speed control capabilities, these motors enable HVAC systems to operate with greater efficiency and effectiveness, thereby extending their lifespan and reducing maintenance requirements.

However, the high initial investment required for IE4 permanent magnet synchronous motors along with its compatibility challenges with existing machinery are the major factors restraining the growth of the market. On the contrary, the increasing adoption of electric vehicles (EVs) worldwide is expected to create ample growth opportunities for the market in the coming years. IE4 permanent magnet synchronous motors are well-suited for EV applications due to their high efficiency, compact size, and precise control capabilities, making them an integral component of electric propulsion systems in vehicles.

Market Segmentations and Scope of the Study

The IE4 permanent magnet synchronous motor market share is segmented on the basis of product, application, end user, and region. On the basis of product, the market is classified into Up to 25 kW, 25–100 kW, 100–300 kW, and 300 kW & above. On the basis of application, the market is categorized into material handling, liquid pumps, fans & ventilation, cooling compressors, air compressors & vacuum pumps, blowers, and coolers. On the basis of end user, the market is bifurcated into industrial, commercial, and residential. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the dominant share of the IE4 permanent magnet synchronous motor market and is expected to continue its dominance during the forecast period. This is attributed to factors such as the increasing demand for energy-efficient electric vehicles (EVs) driven by stringent government regulations aimed at reducing carbon emissions in the region. As per the International Council on Clean Transportation, over 1.2 million EVs were sold in the U.S. in 2023.

Moreover, the presence of major key players such as Rockwell Automation, Altra Industrial Motion Corp., and GE Motors play a major role in the market growth of the market in this region. For instance, in April 2022, Rockwell Automation launched a new on-machine drive, Armor PowerFlex ACare, a new generation of On-Machine motor control solutions. This new on-machine drive allows quicker installation, simple commissioning and predictive maintenance, enhancing the functionality of the motor control.

On the other hand, Asia Pacific is anticipated to witness a steady increase in the IE4 permanent magnet synchronous motor market due to the burgeoning automotive industry in the region. According to the latest report published by the China Association of Automobile Manufacturers, the Asia-Pacific region stands as one of the largest automotive manufacturers globally, with China leading the pack with 27 million vehicle sales in 2022, compared to 23 million sales in 2021.

Moreover, with the increasing industrialization in this region, the demand for industrial automation and robotics is experiencing significant growth, thereby driving the market. According to the latest report published by the International Federation of Robotics, Asia Pacific stands as the largest adopter of industrial robotics, with China alone installing over 52% of the global robotics in the industrial sector, totaling 290,300 robots, followed by Japan with 50,400 robots in 2022.

Competitive Landscape

The IE4 permanent magnet synchronous motor market trends comprising of various market players such as ABB Ltd., Altra Industrial Motion Corp., Fuji Electric Co. Ltd., Hitachi Ltd., Bharat Bijlee, CG Global, Kienle + Spiess GmbH, Siemens, Rockwell Automation and GE Motors. These market players are adopting various strategies such as acquisition and planning expansion of business across various regions to maintain their dominance in the high IE4 permanent magnet synchronous motor market.

For instance, in March 2021, Siemens launched its high-efficiency motor series, making it consistently available in efficiency class IE4. This initiative aims to meet the rising demand for advanced motor technology that enhances energy efficiency across various industrial applications.

Moreover, in August 2021, ABB Ltd. launched plans for expanding its manufacturing capabilities in India to produce energy-efficient IE4 motors with low voltage specifications, offering a range of motors up to 55kW. These motors cater to diverse industry segments, including food and beverage, water and sewage, cement, metals and mining, HVAC, textiles, and rubber.

Key Benefits

• The report provides quantitative analysis and estimations of the IE4 permanent magnet synchronous motor market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the IE4 permanent magnet synchronous motor market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the IE4 permanent magnet synchronous motor market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Key Market Segments

By Product

• Up to 25 kW

• 25–100 kW

• 100–300 kW

• 300 kW & above

By Application

• Material Handling

• Liquid Pumps

• Fans & Ventilation

• Cooling Compressors

• Air Compressors & Vacuum Pumps

• Blowers

• Coolers

By End User

• Industrial

• Commercial

• Residential

By Region 

• North America

  • The U.S

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France    

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand 

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

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