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An induction motor is used for driving mechanical loads; Its efficiency is lesser than that of synchronous motor of the same output and voltage rating. Induction motor is cheaper than synchronous motor with same ratings; Induction motors are bit bigger in size than synchronous motor due to its construction.
A permanent magnet synchronous generator is a generator where the excitation field is provided by a permanent magnet instead of a coil.he term synchronous refers here to the fact that the rotor and magnetic field rotate with the same speed, because the magnetic field is generated through a shaft mounted permanent magnet mechanism and current is induced into the stationary armature.