Permanent Magnets Market 2022 Industry Research, Share, Trend, Price, Future Analysis To 2031

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The global permanent magnet market report by the business research company the increasing demand for automobile applications is expected to propel the growth of the permanent magnet market.to be a major growth driver for the Permanent Magnet market. Permanent-magnet motors are most commonly used in variable-speed drives, in which the stator is powered by a variable-frequency, variable-voltage, electronically controlled source. For instance, in December 2021, in India, the total number of electric vehicle sales was reported to be 50,866 units resulting in a 240% jump from the previous year. Moreover, in 2021, Norway, recorded a sale of 176,276 cars with 65% electric cars resulting in a 54% rise when compared to 2020.  Therefore, the increasing demand for automobile applications is driving the growth of the permanent magnet market.

The global permanent magnet market is expected to grow from $26.59 billion in 2021 to $29.61 billion in 2022 at a compound annual growth rate (CAGR) of 11.37%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The permanent magnet market is expected to reach $46.65 billion in 2026 at a CAGR of 12.03%.

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Asia Pacific was the largest region in the permanent magnet market in 2021. 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 and Africa.

Major players in the permanent magnet market are Arnold Magnetic Technologies, Electron Energy Corporation, Daido Steel Co., Ltd., Chengdu Galaxy Magnets Co. Ltd., Shin-Etsu Chemical Co. Ltd., Goudsmit Magnetics, Adams Magnetic Products  Co. Ltd., Bunting Magnetics Co., Tengam Engineering Inc., Yantai Shougang Magnetic Materials Inc., Ningbo Yunsheng Co. Ltd., Eclipse Magnetics, Hangzhou Permanent Magnet Group, Anhui Earth-Panda Advance Magnetic Material Co. Ltd, and Magnequench International LLC.

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

The global permanent magnet market is segmented -
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

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The Permanent Magnet Market Report Contents Include
1. Executive Summary
2. Permanent Magnet Market Characteristics
3. Permanent Magnet Market Trends And Strategies
4. Impact Of COVID-19 On Permanent Magnet
5. Permanent Magnet Market Size And Growth
....
26. Africa Permanent Magnet Market
27. Permanent Magnet Market Competitive Landscape And Company Profiles
28. Permanent Magnet Pipeline Analysis
29. Key Mergers And Acquisitions In The Permanent Magnet Market
30. Permanent Magnet Market Future Outlook and Potential Analysis
31. Appendix

This report covers the trends and market dynamics of the Permanent Magnet market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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