The Permanent Magnet Motor Market is expected to garner $45.3 billion by 2020, registering a CAGR of 11.7% during the period 2014-2020. The global demand for rare earth (RE) magnet materials, in 2012, accounted for 21% of all rare earth materials available. Presently, the permanent magnet AC and DC motors are increasingly used in factory automation applications …
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