In this paper, model of the axial-flux permanent magnet synchronous generator (AFPMSG) having arc-shaped trapezoidal permanent magnets (PM) is presented. The proposed model reduces the cogging torque and torque ripple, at the expense of lowering the average output torque. Optimization of the proposed model is performed by considering the asymmetric overhang configuration of the PMs, as to make the output torque of the proposed model competitive with the conventional model. The time stepped 3D finite element analysis (FEA) is performed for the comparative analysis. It is demonstrated that the torque ripple of the optimized model is highly reduced as well as average output torque is increased.