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Permanent Magnet Motor Market is Expected to Reach USD 51.45 Billion by 2027

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Permanent Magnet Motor Market is Expected to Reach USD 51.45 Billion by 2027
A permanent magnet motor, a type of electric motor, consists of a permanent magnet as its stator while the rotor is similar to that of the commonly used induction motor. Despite the high cost, since the magnets are made from rare earth elements, high efficiency and longer life have made this motor type popular in recent times.
Posted on 12/17/21

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