This report aims to examine the developments of Permanent Magnet market including its market improvements, developments, positions and others. This Research helps in understanding the dynamic condition, market’s significant players, and driving brands. The Permanent Magnet market five-year period can evaluate how the market is forecast to evolve.
This analysis gives an examination of various segments that are relied upon to witness the quickest development amid the estimate forecast frame. Recognize the most recent Permanent Magnet improvements, share, and systems utilized by the significant market
The Global Permanent Magnet market accounted for USD 14.94billion in 2016 and is projected to grow at a CAGR of 9.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Permanent Magnet Market Segmentation By Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet), By Application (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense)
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Major Market Drivers:
- Growing automotive industry in Asia-Pacific
- Increasing demand for efficiency & miniaturization
- Initiativesby associations & regulatory bodiesto encourage use of permanent magnet
- Fluctuation in raw material costs
- Lack of quality control in developing countries
- High research and development cost
Permanent magnet retains its magnetism after being removed from an external magnetic field.They do not require continuous electrical energy to maintain their electric field, due to which PM motors are preferred. The use of permanent magnets reduces the size of motors and improves performance, which can be done using nanocomposite permanent magnets.There is a growing demand for permanent magnet in consumer electronics, general industrial, automotive, medical technology and environment & energyactivity, which is expected to be one of the major drivers of the market over the next seven years.
The Global Permanent Magnet Market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Major Market Competitors
- Adams Magnetic Products Co.,
- AT&M (Advanced Technology & Materials Co. Ltd.),
- Arnold Magnetic Technologies,
- A To Z Magnet Mfg. Co.,
- Baotou Inst Magnetic New Materials Co. Ltd.,
- Beijing ZhongKe San Huan Hi-Tech Co. Ltd.,
- China Rare Earth Magnet Ltd.,
- Clime Magnet Manufactory Co. Ltd.,
- Daido Steel Co. Ltd.,
- Dexter Magnetic Technologies Inc.,
- EEC (Electron Energy Corp.),
- Feller Magtech Corp.,
- Fuzhou Ao Magnet Electronic Co. Ltd.,
- Hangzhou Best Magnet Co. Ltd.,
- Hitachi Metals Ltd.,
- HPMG (Hangzhou Permanent Magnet Group),
- IM (Integrated Magnetics),
- Longze Magnet Electronic Co. Ltd.,
- MMC Magnetics,
- Bestway Magnet,
- Ningbo Co-Star Materials Hi-Tech Co. Ltd.
How does this market Insights help?
- Permanent Magnet Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR from 2018 to 2025
- Key parameters which are driving this market and restraining its growth
- What all challenges manufacturers will face as well as new opportunities and threats faced by them.
- Learn about the market strategies that are being adopted by your competitors and leading organizations
- To gain insightful analyses of the market and have a comprehensive understanding of the “Permanent Magnet ” and its commercial landscape
On the basis of type:- Neodymium iron boron magnet, ferrite magnet, and samarium cobalt magnet.
On the basis of application:- Consumer electronics, general industrial, automotive, medical technology, environment & energy, aerospace & defense and others. The automotive segment is further sub segmented into motors, sensors and switches. Medical is further sub segmented into scanning devices and implantable devices. The aerospace & defense segment is further sub segmented into electric engines and magnetic bearings.
On the basis of geography:- North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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