Permanent Magnet Global Market Report 2024

Description

“Permanent Magnet Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on permanent magnet market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Measure the impact of high global inflation on market growth.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for permanent magnet? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The permanent magnet market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Ferrite Magnets; Samarium Cobalt Magnets; Alnico Magnets; Neodymium Iron Boron Magnets
2) By Sales Channel Type: Direct Sales; Distributors
3) By End-Use: General Industrial; Automotive; Medical Technology; Environment & Energy; Aerospace & Defense; Consumer Electronics
Companies Mentioned: Siemens AG; Mitsubishi Electric Corporation; Toshiba Corp.; Hitachi Ltd.; Asea Brown Boveri
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A permanent magnet is a magnetized material that generates a strong magnetic field on its own and retains its magnetic characteristics in the absence of an external magnetizing force, such as a current or inducing field. These magnets find applications in various electronic products.

The main types of permanent magnets include ferrite magnets, samarium cobalt magnets, alnico magnets, and neodymium iron boron magnets. Ferrite magnets are composed of ceramic materials and iron oxide, making them widely used in transformers, electronic inductors, and electromagnets due to their availability and cost-effectiveness. Sales channels for permanent magnets include direct sales and distribution. Permanent magnets are utilized by end-users in diverse industries such as general industrial, automotive, medical technology, environment and energy, aerospace and defense, and consumer electronics.

The permanent magnet market research report is one of a series of new reports from The Business Research Company that provides permanent magnet market statistics, including permanent magnet industry global market size, regional shares, competitors with a permanent magnet market share, detailed permanent magnet market segments, market trends and opportunities, and any further data you may need to thrive in the permanent magnet industry. This permanent magnet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The permanent magnet market size has grown rapidly in recent years. It will grow from $33. 91 billion in 2023 to $38. 31 billion in 2024 at a compound annual growth rate (CAGR) of 13. 0%. The growth observed in the historic period can be attributed to factors such as the growth of the electronics and IT industry, increased demand from consumer electronics, government policies and regulations, industrial automation, and a focus on clean energy initiatives.

The permanent magnet market size is expected to see rapid growth in the next few years. It will grow to $60. 08 billion in 2028 at a compound annual growth rate (CAGR) of 11. 9%. The anticipated growth in the forecast period can be attributed to the expansion of the electric vehicle market, increasing demand for smart devices, the growth of industrial robotics, a rising demand for permanent magnet generators, and a growing focus on wind energy. Major trends expected in the forecast period include the development of magnetic levitation technology, efforts toward rare earth-free magnets, the miniaturization of electronic devices, increased customization, and design flexibility, as well as advancements in magnetic refrigeration.

The growth of the permanent magnet market is expected to be fueled by the increasing demand for automobile applications. Permanent-magnet motors, commonly used in variable-speed drives, are powered by a variable-frequency, variable-voltage, electronically controlled source in these applications. For instance, in December 2021, India reported a total of 50,866 electric vehicle sales, marking a 240% increase from the previous year. Moreover, Norway witnessed the sale of 176,276 cars in 2021, with 65% being electric cars, indicating a 54% rise. This surge in demand for automobile applications is a significant driver for the growth of the permanent magnet market.

The permanent magnet market is also expected to experience growth due to the increasing demand for consumer electronics. Consumer electronics encompass electronic devices designed for everyday use, contributing to personal entertainment, communication, and productivity. The use of permanent magnets in consumer electronics enhances efficiency, reliability, and overall device performance, while also offering advantages in terms of size, durability, and sustainability. For instance, LG, a South Korea-based consumer electronics company, reported its highest annual revenue ever in 2022, a 12. 9% increase from 2021. The revenue for LG Home Appliance & Air Solution Company in 2022 reached $22. 5 billion, reflecting a 10. 3% increase from the previous year. This increasing demand for consumer electronics is a driving force behind the growth of the permanent magnet market.

A key trend gaining popularity in the permanent magnet market is technological transition. This involves the movement of data, designs, inventions, materials, software, technical expertise, or trade secrets between organizations or purposes. For example, Max Stand, an Italy-based company specializing in exhibition stand design, introduced a third-party charger for Apple Airpods Max in December 2021. The charger utilizes magnets to function both as a charger and a connection between the batteries, providing a MagSafe-style charging solution.

Major companies in the permanent magnet market are focusing on developing permanent magnets for onshore wind turbines to boost their market revenues. Onshore wind turbines, large structures with rotating blades, are situated on land. For instance, in September 2022, Enercon GmbH, a Germany-based wind turbine manufacturer, launched a 6MW onshore wind turbine with a permanent magnet generator. The E-175 EP5 model features a 175-meter-diameter rotor and a 6-megawatt nominal capacity, designed for low- to medium-wind locations. This innovation aligns with the company's focus on utilizing direct drive principles and advanced electrical technologies.

In October 2021, Bunting, a Chicago-based magnets manufacturer, acquired MagDev Ltd. Through this acquisition, Bunting aims to provide a broader range of magnetic solutions and technological expertise. MagDev Ltd, based in the UK, specializes in industrial magnets, including permanent magnets, magnetic assemblies, and soft magnetic solutions tailored to specific needs.

Major companies operating in the in the permanent magnet market report are Siemens AG, Mitsubishi Electric Corporation, Toshiba Corp., Hitachi Ltd., Asea Brown Boveri, Robert Bosch GmbH, Meidensha Corp., Continental AG, Alstom SA, Broad-Ocean Motor Co. Ltd., Xizi Forvorda ELECTRICAL MACHINERY CO. LTD., DRS Technologies Pvt. Ltd., Emerson Electric Co., Johnson Electric Holdings Limited, Leonardo DRS, Nidec Motor Corporation, Hangzhou Permanent Magnet Group, Arnold Magnetic Technologies Corp., Tokyo Denki Kagaku Kogyo, Shin-Etsu Chemical Co. Ltd., Electron Energy Corporation, Adams Magnetic Products Co. Inc., Bunting Magnetics Co., Tengam Engineering Inc., Yantai Shougang Magnetic Materials Inc., Chengdu Galaxy Magnets Co. Ltd., Goudsmit Magnetics Ltd., Eclipse Magnetics Ltd., MagnaWorks Technology Inc., Dura Magnetics Inc., Daido Steel Co. Ltd., Hengdian Group DMEGC Magnetics Co. Ltd., Ningbo Vastsky Magnet Co. Ltd.

Asia-Pacific was the largest region in the permanent magnet market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the permanent magnet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the permanent magnet market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The permanent magnets market consists of sales of ceramic magnets, injection magnets, aluminum nickel cobalt magnets, and flexible magnets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10512

1. Executive Summary

2. Permanent Magnet Market Characteristics

3. Permanent Magnet Market Trends And Strategies

4. Permanent Magnet Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Permanent Magnet Market Size and Growth

5.1. Global Permanent Magnet Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Permanent Magnet Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Permanent Magnet Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Permanent Magnet Market Segmentation

6.1. Global Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Ferrite Magnets
Samarium Cobalt Magnets
Alnico Magnets
Neodymium Iron Boron Magnets
6.2. Global Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Direct Sales
Distributors
6.3. Global Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
General Industrial
Automotive
Medical Technology
Environment & Energy
Aerospace & Defense
Consumer Electronics

7. Permanent Magnet Market Regional And Country Analysis

7.1. Global Permanent Magnet Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Permanent Magnet Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Permanent Magnet Market

8.1. Asia-Pacific Permanent Magnet Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Permanent Magnet Market

9.1. China Permanent Magnet Market Overview
9.2. China Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Permanent Magnet Market

10.1. India Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Permanent Magnet Market

11.1. Japan Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Permanent Magnet Market

12.1. Australia Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Permanent Magnet Market

13.1. Indonesia Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Permanent Magnet Market

14.1. South Korea Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Permanent Magnet Market

15.1. Western Europe Permanent Magnet Market Overview
15.2. Western Europe Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Permanent Magnet Market

16.1. UK Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Permanent Magnet Market

17.1. Germany Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Permanent Magnet Market

18. 5. France Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Permanent Magnet Market

19. 9. Italy Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Permanent Magnet Market

20.13. Spain Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Permanent Magnet Market

21.1. Eastern Europe Permanent Magnet Market Overview
21.2. Eastern Europe Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Permanent Magnet Market

22.1. Russia Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Permanent Magnet Market

23.1. North America Permanent Magnet Market Overview
23.2. North America Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Permanent Magnet Market

24.1. USA Permanent Magnet Market Overview
24.2. USA Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Permanent Magnet Market

25.1. Canada Permanent Magnet Market Overview
25.2. Canada Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Permanent Magnet Market

26.1. South America Permanent Magnet Market Overview
26.2. South America Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Permanent Magnet Market

27.1. Brazil Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Permanent Magnet Market

28.1. Middle East Permanent Magnet Market Overview
28.2. Middle East Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Permanent Magnet Market

29.1. Africa Permanent Magnet Market Overview
29.2. Africa Permanent Magnet Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Permanent Magnet Market, Segmentation By Sales Channel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Permanent Magnet Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Permanent Magnet Market Competitive Landscape And Company Profiles

30.1. Permanent Magnet Market Competitive Landscape
30.2. Permanent Magnet Market Company Profiles
- 30.2.1. Siemens AG
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Mitsubishi Electric Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Toshiba Corp.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Hitachi Ltd.
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Asea Brown Boveri
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Permanent Magnet Market Competitive Benchmarking

32. Global Permanent Magnet Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Permanent Magnet Market

34. Permanent Magnet Market Future Outlook and Potential Analysis

34.1 Permanent Magnet Market In 2028 - Countries Offering Most New Opportunities
34.2 Permanent Magnet Market In 2028 - Segments Offering Most New Opportunities
34. 3 Permanent Magnet Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer