Permanent Magnet Synchronous Motor (PMSM) Market Is Expected to Garner $31.1 Billion, Globally, by 2022
Permanent Magnet Synchronous Motor (PMSM) Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $31.1 billion by 2022, registering a CAGR of 10.9% from 2016-2022. Asia-Pacific is expected to dominate the PMSM market in terms of revenue as well as volume, during the forecast period, due to ample availability of low-cost raw materials, improved government regulations, and increased spending power of customers.
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