Electric motors have been used in manufacturing and other fields for many years, but demand for the versions of these devices that use permanent magnets is increasing. Unlike other electric motors, permanent magnet models have the ability to deliver very efficient performance, and the demand for this type of motor is likely to increase in the coming years. A new study indicates the market for permanent magnet motors will continue to grow, which should drive demand for the rare earth magnets that are necessary for these motor's construction.

What is a permanent magnet motor?
Permanent magnet motors are different from other electric motors because they substitute powerful rare earth magnets for the electrical winding inside the motor assembly. This results in significantly lessened power consumption, which is a positive trait in nearly any application. While these motors require a greater degree of expertise to operate, and are particularly susceptible to heat damage, their efficiency benefits resulted in widespread adoption, according to Machine Design.

Though permanent magnet motors are more expensive than their induction motor counterparts, according to Control Engineering, they will likely be used in more fields both inside and outside the manufacturing industry soon.

A bright future
Permanent magnet motors are currently entering a new age of popularity and will become more widespread in the next few years. New research conducted by Allied Market Research discovered several factors that will contribute to the increased use.

According to AMR's research, the market for permanent magnet motors will grow 11.7 percent by 2020 and be worth $43.5 billion. Neodymium magnets are a key driver of growth in the sector, as they function well at high heat and are more available than before.

While rare earth magnets were previously difficult to obtain, their supply became more consistent, which allows manufacturers to create permanent magnet motors. This increase in supply has coincided with newfound demand as electric motors are now used in a variety of industries outside manufacturing. New electric automobiles will make extensive use of the motors in their drive trains, for instance.

While new uses present exciting prospects for growth the majority of the gains will arise in manufacturing. As manufacturing becomes more automated and that automation allows for tighter tolerances on the items being built, the efficiency and consistency of permanent magnet motors are particularly valuable traits. Many manufacturers will update their systems in order to take advantage of these attributes.