According to Cognitive Market Research, the global SmCo magnet market size is USD 15684.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 6273.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 4705.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 3607.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 784.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 313.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
The ring held the highest SmCo magnet market revenue share in 2024.
