The concentrated winding (CW) is obviously different from the traditional distributed winding (DW) in the arrangement of windings and the calculation of winding factors, which will inevitably lead to different performances of the permanent magnet synchronous motor (PMSM). In order to analyze the differences between the CW and the DW in the performance, a 3 kW, 1500 r/min PMSM is taken as an example to establish a 2-D finite element model. The correctness of the model is verified by comparing experimental data and calculated data. Firstly, the finite element method (FEM) is used to calculate the electromagnetic field of the PMSM, and the performance parameters of the PMSM are obtained. On this basis, the influences of the two winding structures on the performance are quantitatively analyzed, and the differences between the two winding structures on the performance of the PMSM will be determined. Finally, the differences of efficiency between the two winding structures are obtained. In addition, the influences of the winding structures on eddy current loss are further studied, and the mechanism of eddy current loss is revealed by studying the eddy current density. The analysis of this paper provides reference and practical value for the optimization design of the PMSM.