Global Permanent Magnet
Market Report
2025
The global Permanent Magnet market size is USD 45.1 billion in 2024. The Permanent Magnet market will show strongest growth with a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031. This growth can be attributed to growing efficiency and miniaturization needs.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Permanent Magnet market size is USD 45.1 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Permanent Magnet Market Sales Revenue | 121212 | $ 45.1 Billion | 121212 | 121212 | 121212 | 9.8% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by End-Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Permanent Magnet Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
An object that remains magnetic in the absence of a magnetizing force, such as a magnetic field or electric current, is understood as a permanent magnet. In the magnet, the magnetic field is generated by the structure of the material. These magnets, which are also referred to as "hard magnets," exhibit a high magnetic field strength, low permeability, and retain their stability in the presence of other magnetic fields. Electricity can be converted to mechanical energy and vice versa by these magnets. This is accomplished by making use of the repulsion between magnets and regulating electrons. Various varieties of magnets, such as alloy magnets, ferrite magnets, and bonded magnets, are available. Appliances, HVAC systems, actuators, and speakers are among the numerous applications for which they are employed. Growth in the market will be stimulated by the growing demand for magnets in hybrid electric vehicles. An internal combustion generator and an electric motor are installed in hybrid electric vehicles, which necessitate approximately 2 to 3 kilograms of rare earth magnets.
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In January 2023, VAC has entered into an agreement with General Motors, a U.S. automaker, to construct a permanent magnet manufacturing facility in North America. The plant will be constructed using locally sourced raw materials. The product would be employed in the production of electric motors that are supplied to General Motors automobiles. (Source:https://investor.gm.com/news-releases/news-release-details/general-motors-and-vacuumschmelze-vac-announce-plans-build-new)
Top Companies Market Share in Permanent Magnet Industry: (In no particular order of Rank)
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According to Cognitive Market Research, Asia-Pacific dominated the market in 2024 and attributed for around 40% of the global revenue due to the increasing demand for permanent magnets in energy applications, consumer electronics, and automotive. Due to an abundance of rare-earth deposits in the region, China is the main producer and user of these magnets.
North America stands out as the fastest-growing region in the Permanent Magnet market due to the swiftly growing demand for consumer electronics, including personal computers, wearable devices, medical devices, and mobile phones.
The current report Scope analyzes Permanent Magnet Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Permanent Magnet Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Permanent Magnet Industry growth. Permanent Magnet market has been segmented with the help of its Type, End-Use , and others. Permanent Magnet market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Quality management is the major parameter to meet specific standards and specifications, reliability and consistency. The chemical and material industry is full of various types of chemicals and it is necessary to focus on quality management because it may affect environment & other equipment. Raw materials plays an important role in this industry. The chemical industry converts these raw materials into primary, secondary, and tertiary products. Fluctuations in raw material prices may impact the market growth in the near future. This study includes the revenue generation of each type in each region for the year 2019 to 2031. Additionally it also provides detailed supply chain analysis along with current trends in the market which are expected to propel the market growth in the coming year.
Type of Permanent Magnet analyzed in this report are as follows:
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According to cognitive market research, Consumer Electronics is the dominant category. Magnets are increasingly utilized in this application due to the increasing demand for consumer electronics. Mobile phones, air compressors, headphones, cameras, and cooling systems are among the electronic products that are in high demand because of technological advancements and the growing disposable income of consumers. Because of the growing demand for consumer electronics, the global utilization of permanent magnets will increase.
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Senior Research Analyst at Cognitive Market Research
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Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Permanent Magnet Market is witnessing significant growth in the near future.
In 2023, the Neodymium Iron Boron Magnets segment accounted for noticeable share of global Permanent Magnet Market and is projected to experience significant growth in the near future.
The Consumer Electronics segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Hitachi Metals , TDK Corporation (Japan) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets, Others |
End-Use | Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense, Others |
List of Competitors | Hitachi Metals, Ltd. (Japan), TDK Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Electron Energy Corporation (US), Adams Magnetic Products Co., Inc. (US), Bunting Magnetics Co.(US), Tengam Engineering, Inc.(US), Yantai Shougang Magnetic Materials Inc. (China), Ningbo Yunsheng Co. Ltd. (China), Chengdu Galaxy Magnets Co., Ltd. (China), Goudsmit Magnetics (US), Eclipse Magnetics (UK), Arnold Magnetic Technologies(US) |
This chapter will help you gain GLOBAL Market Analysis of Permanent Magnet. Further deep in this chapter, you will be able to review Global Permanent Magnet Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Permanent Magnet. Further deep in this chapter, you will be able to review North America Permanent Magnet Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Permanent Magnet. Further deep in this chapter, you will be able to review Europe Permanent Magnet Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Permanent Magnet. Further deep in this chapter, you will be able to review Asia Pacific Permanent Magnet Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Permanent Magnet. Further deep in this chapter, you will be able to review South America Permanent Magnet Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Permanent Magnet. Further deep in this chapter, you will be able to review Middle East and Africa Permanent Magnet Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Permanent Magnet. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End-Use Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Permanent Magnet market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Neodymium Iron Boron Magnets have a significant impact on Permanent Magnet market? |
What are the key factors affecting the Neodymium Iron Boron Magnets and Ferrite Magnets of Permanent Magnet Market? |
What is the CAGR/Growth Rate of Consumer Electronics during the forecast period? |
By type, which segment accounted for largest share of the global Permanent Magnet Market? |
Which region is expected to dominate the global Permanent Magnet Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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