The GMI Research expects the permanent magnet market to expand at a higher rate. From a regional perspective, the Asia-Pacific is expected to lead the market due to the growing per capita disposable incomes, followed by the strong demand for consumer electronic products, such as tablets, smart home appliances, computers, mobile phones, and other devices.
Request for a FREE Sample Report on Permanent Magnet Market
Permanent Magnet Market Dynamics (including market size, share, trends, forecast, growth, and industry analysis)
Key Drivers
The global permanent magnet market is predicted to witness an upsurge in demand during the forecast period due to the high demand for permanent magnets in a large range of sectors, such as general industrial, environment & energy, automotive, aerospace & defense, medical technology, consumer electronics, and among other sectors. The high demand for the permanent magnet in the consumer electronic sector due to its beneficial features, like repulsion, high magnetic stability, inexpensiveness, lightweight, and other features, will further bolster the market growth. The increasing global consumer electronics sector, along with the usage of permanent magnets in several devices that include computers, laptops, televisions, music systems, and others, are some other factors propelling the growth of the permanent magnet market size in the upcoming years.
The growing disposable income levels, the rising industries, and rapid economic development are the factors contributing to the growth of the global permanent magnet market. There is a high demand for permanent magnets for the manufacturing of automotive vehicles, medical devices, aerospace vehicles, and wind generators where high-performance in extreme conditions. The usage of permanent magnets in electric batteries, motor, and internal combustion engines in the production of hybrid electric vehicles, coupled with the fundamental shift in the government towards the adoption of energy-efficient vehicles, is expected to bring various lucrative opportunities to the market. On the other hand, the factor hindering the growth of the permanent magnet market during the forecast period includes the high raw material costs for rare earth magnets.
Permanent Magnet Market’s leading Manufacturers:
- Hitachi Metals, Ltd.
- Lynas Corporation Ltd.
- Arnold Magnetic Technologies
- TDK Corporation
- Shin-etsu Chemical Co., Ltd.
- Electron Energy Corporation
- Bunting Magnetics Co.
- Daido Steel Co., Ltd.
- Tengam Engineering, Inc.
- Adams Magnetic Products Co., Inc.
Permanent Magnet Market Segmentation:
Segmentation by Type:
- Neodymium Iron Boron Magnet
- Ferrite Magnet
- Samarium Cobalt Magnet
- Alnico Magnet
- Others
Segmentation by End-Use Industry:
- Consumer Electronics
- General Industrial
- Automotive
- Medical Technology
- Environment & Energy
- Aerospace & Defence
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
