Reports and Data’s latest industry analysis report is a reliable source of information on the global Permanent Magnets industry and its key segments. The report lays stress on the current market size, market share and key market dynamics including drivers, restraints, opportunities, supply & demand ratios, upcoming market trends, technological innovations, and value chain analysis. The accurate market projections contained in the report are predicated on historical and present market data and effective research methodologies. The report presents quantitative and qualitative industry insights, along with vital information related to market revenue growth rate, industry annual sales, regional outlook, product type & application ranges, and key industry statistics. Furthermore, the report discusses some major challenges, imminent threats, unfavorable government policies, and stringent regulatory frameworks in the market that are likely to negatively impact its growth in the years to come.
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Further key findings from the report suggest
- Automotive segment dominates the market of permanent magnets and is forecasted to grow with the highest CAGR of 8.3% throughout the forecast period.
- Expansion of the automotive industry across the globe, especially in the Asia Pacific, is expected to boost the market. In vehicles, permanent magnets are used in sensors, auto-clutch, switches, and electric powers.
- Consumer Electronics is forecasted to hold 18% of the market share in the year 2028. Increase in the use of permanent magnets in HDD, CD, and DVD propels the market.
- Aerospace and Defense segment holds a market share of 14% in the year 2024. Atomic batteries manufactured for spacecraft and guided missile systems use permanent magnets.
- Environment & Energy is forecasted to grow with an annual growth rate of 7.9% throughout the forecast period. With the growth in renewable energy and countries across the globe trying to meet their renewable energy targets, this sector is forecasted to grow in the coming years.
- Neodymium Iron Boron Magnets is forecasted to hold 30% of the market share in the year 2028. This material is used in sensors and gauges of high priced automobiles. It is preferred in battery components, engine components, moving car parts, and HDD of consumer electronics.
- Ferrite magnets are growing rapidly with a CAGR of 7.9% throughout the forecast period.
- Growing demand for luxury cars in developed regions including many cities of Europe is boosting the market of Ferrite magnets.
- The Asia Pacific region dominates the market mainly due to China’s contribution. It has the largest reserve of permanent magnet in the world, and rapid industrialization and modernization have increased permanent magnets application in the country.
- APAC is forecasted to hold 31% of the market share by 2028 owing to the fact that China is the leading producer and consumer of permanent magnets.
- Key participants include Adams Magnetic Products Co., Anhui Earth-Panda Advance Magnetic Material Co. Ltd., Arnold Magnetic Technologies, Daido Steel Co. Ltd., Eclipse Magnetics Ltd., Electron Energy Corporation, Goudsmit Magnetics Group, Hangzhou Permanent Magnet Group, Hitachi Metals Ltd., Molycorp Magnequench, TDK Corporation, and Thomas & Skinner Inc., among others.
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For the purpose of this report, Reports and Data have segmented the global Permanent Magnets Market on the basis of Material, End Users, Sales Channel, Application and Region:
Material Outlook (Revenue, USD Billion; 2024-2028)
- Neodymium Iron Boron Magnets
- Ferrite Magnets
- Samarium Cobalt Magnets
- Alnico Magnets
- Other Magnets
End Users Outlook (Revenue, USD Billion; 2024-2028)
- Consumer Electronics
- Automotive
- Environment & Energy
- General Industrial
- Medical Technology
- Aerospace & Defense
- Others
Sales Channel Outlook (Revenue, USD Billion; 2024-2028)
- Direct Sales
- Distributor
Applications Outlook (Revenue, USD Billion; 2024-2028)
- Hybrid & Electric vehicles
- Wind Turbines
- Electric Bicycle
- Industrial Motors
- Energy Storage System
- Magnetic Refrigeration
- Magnetic Levitation Transport
- Others Applications
Regional Outlook (Revenue, USD Billion; 2024-2028)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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