This paper presents a comparison of different time- and frequency-domain solvers for the steady-state simulation of the eddy current phenomena, due to the motion of a permanent magnet array, occurring in the soft-magnetic stator core of electrical machines that exhibits nonlinear material characteristics. Three different dynamic solvers are implemented in the framework of the isogeometric analysis, namely the traditional time-stepping backward-Euler technique, the space-time Galerkin approach, and the harmonic balance method, which operates in the frequency domain. Two-dimensional electrical machine benchmarks, consisting of both slotless and slotted stator core, are considered to establish the accuracy, convergence, and computational efficiency of the presented solvers.