Definition, Purpose and Methodology of 1. Market Research

Market research refers to the process of collecting, sorting, analyzing and interpreting market-related information to understand market demand, scale, structure, competition, change and potential, and provide a basis for market decision-making. The purpose of market research is to help enterprises better understand the current situation and future development direction of the market, so as to formulate reasonable market strategy, improve market competitiveness, increase market share and improve profitability. The main methods of market research are as follows:

Literature research: refers to the access to market-related information and data by consulting a variety of existing literature, such as books, newspapers, periodicals, networks, reports, etc.

Field research: refers to the collection of first-hand information and data of the market by personally going to the market site, observing, visiting, testing, and testing.

Questionnaire survey: refers to the design and distribution of a series of questions to the target market consumers, users, dealers, competitors, etc. to investigate, to collect market opinions and feedback.

Experimental research: refers to the observation and measurement of market reactions and results by controlling and changing certain factors in the market in a laboratory or simulated market environment.

Development Status, Trends and Challenges of Permanent Magnet Motor Industry in 2.

The permanent magnet motor industry is a dynamic and potential industry. With the advancement of technology and the expansion of the market, the permanent magnet motor industry presents the following development status, trends and challenges:

1. Development status

The scale of the permanent magnet motor industry is expanding. According to the consulting firm's report, the permanent magnet motor market size is expected to grow from $43.96 billion in 2023 to $70.67 billion in 2028, with a compound annual growth rate of 9.96 percent during the forecast period (2023-2028). The main growth drivers include the popularity of electric vehicles, the demand for energy saving and environmental protection, the development of industrial automation, and the innovation of permanent magnet materials.

The structure of the permanent magnet motor industry is continuously optimized. According to the consulting company's report, the permanent magnet motor market is divided by type. PMAC (permanent magnet AC motor) occupies the largest market share at about 45%, and is expected to maintain its leading position during the forecast period. The advantages of PMAC are its high efficiency, high reliability, low maintenance and low noise, which are suitable for various industrial, automotive and energy applications. The permanent magnet motor market is divided by rated power. Permanent magnet motors below 25 kW occupy the largest market share at about 46%, and are expected to maintain stable growth during the forecast period. Permanent magnet motors below 25 kW are mainly used in the fields of medical treatment, home appliances, electronics and consumer goods, and have the characteristics of miniaturization, light weight, high performance and low cost. The permanent magnet motor market is divided by end-users, and the industrial sector occupies the largest market share at about 40%, and is expected to continue to grow during the forecast period. The demand for permanent magnet motors in the industrial field mainly comes from applications such as robots, CNC machine tools, wind power generation, elevators, pumps, etc. These applications have higher requirements for motor efficiency, accuracy, stability and durability.

Competition in the permanent magnet motor industry is becoming increasingly fierce. According to the report of the consulting company, the competition in the permanent magnet motor market is moderate, and existing companies in the market can gain advantages and gain a larger market share through innovation and R & D investment. The intensity of competitive competition is expected to increase further as a result of increased market penetration and the adoption of robust competitive strategies by market participants. Major market players include ABB Limited, Rockwell Automation, Siemens AG, Franklin Electric Company Inc., Allied Motion Technologies Inc. and others.

2. Development trend

The permanent magnet motor industry will develop in an efficient, intelligent and green direction. With the intensification of energy crisis and environmental pollution, energy saving and environmental protection have become an important issue in the permanent magnet motor industry. Permanent magnet motors have the characteristics of high efficiency, high power density, low noise and low maintenance, so that they can play an important role in energy saving and environmental protection. At the same time, with the development of industrial 4.0, Internet of Things, artificial intelligence and other technologies, the intelligent level of permanent magnet motors will continue to improve, realizing automatic control, remote monitoring, fault diagnosis, performance optimization and other functions of the motor, and improving the operation of the motor Efficiency and reliability.

The permanent magnet motor industry will develop in the direction of diversification, differentiation and personalization. With the expansion of the market and the diversification of consumers, the application of permanent magnet motors will also show the characteristics of diversification, differentiation and individualization. The design, manufacturing, testing, installation and maintenance of permanent magnet motors will be customized and optimized according to different application scenarios and user needs to provide products and services that are more in line with the market and customers.

Development challenges

The permanent magnet motor industry is facing the challenge of supply and cost of permanent magnet materials. The core component of permanent magnet motor is permanent magnet, and the main raw material of permanent magnet is rare earth elements, such as neodymium, iron, boron and so on. The reserves of rare earth elements are unevenly distributed, and are affected by geopolitics, environmental protection, market fluctuations and other factors, resulting in unstable supply and uncontrollable cost of permanent magnet materials. According to the consulting firm's report, the price of rare earth elements has fluctuated greatly in the past few years, from US $187/kg in 2011 to US $18/kg in 2016, and then to US $41.5/kg in 2019. The uncertainty of the supply and cost of permanent magnet materials has brought risks and pressures to the production and application of permanent magnet motors.

The permanent magnet motor industry is facing technical and standard challenges. The technical level and standardization of permanent magnet motors directly affect the performance, quality, safety and compatibility of permanent magnet motors. However, there are still some shortcomings and gaps in the technology and standards of permanent magnet motors, which need further research and improvement. For example, more precise and efficient techniques and tools are needed for magnetic field analysis, thermal management, control strategies, fault protection, and test methods of permanent magnet motors. The international and domestic standards of permanent magnet motors need to be more unified and standardized to facilitate the exchange and cooperation of permanent magnet motors.

Suggestions and precautions for 3. market research

According to the development status, trends and challenges of the permanent magnet motor industry, this paper puts forward the following market research suggestions and precautions:

Market research should combine the characteristics and applications of permanent magnet motors, adopt appropriate methods and tools, collect and analyze market information and data, so as to have a comprehensive and in-depth understanding of market demand, scale, structure, competition, change and potential.

Market research should pay attention to the development and changes of permanent magnet motor technology and standards, so as to grasp the technical level and standardization degree of permanent magnet motor in time, and provide technical and standard support and guidance for the design, manufacture, testing, installation and maintenance of permanent magnet motor.

Market research should focus on the optimization and coordination of the supply chain and value chain of permanent magnet motors in order to reduce the cost and risk of permanent magnet motors, improve the efficiency and quality of permanent magnet motors, and enhance the competitiveness and market share of permanent magnet motors.

Market research should focus on the opportunities and challenges of innovation and development of permanent magnet motors, so as to seize the market opportunities of permanent magnet motors, respond to the market challenges of permanent magnet motors, and provide strategies and solutions for the development of permanent magnet motors.

Conclusion

Permanent magnet motor is a kind of motor with high efficiency, high power density, low noise, low maintenance and other advantages, widely used in industrial, automotive, energy, home appliances and other fields. The market size of permanent magnet motor is expected to continue to grow in the next few years, showing the development characteristics of high efficiency, intelligence, green, diversification, differentiation and personalization. Market research is an important part of the permanent magnet motor industry, which can provide professional solutions for the strategic decision-making of enterprises. Market research should combine the characteristics and applications of permanent magnet motors, adopt appropriate methods and tools, and pay attention to all aspects of permanent magnet motor technology, standards, supply chain, value chain, innovation and development, so as to better understand and grasp the market status and future development direction of permanent magnet motors.