Press release
(2023-2032) Permanent Magnet Market Potential Growth, Size, Share, Technology Trends And Opportunities
Permanent Magnet Global Market
The Business Research Company's Permanent Magnet Global Market Report 2023 identifies increasing demand for automobile applications as the major driver for the Permanent Magnet market's growth in the forecast period. 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.
The global permanent magnet market size will grow from $30.15 billion in 2022 to $34.54 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. 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, causing inflation across goods and services and affecting many markets across the globe. The market size of the permanent magnet is expected to grow to $56.74 billion in 2027 at a CAGR of 13.2%.
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Major competitors 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.
A key trend in the Permanent Magnet market includes technological transition. Technological transition is a method of movement of data, designs, inventions, materials, software, technical expertise, or trade secrets from one organization to another or from one purpose to another.
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The 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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Permanent Magnet market.
The Business Research Company's "Global Permanent Magnet Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Permanent Magnet Market Include:
1. Executive Summary
2. Permanent Magnet Market Characteristics
3. Permanent Magnet Market Trends And Strategies
4. Permanent Magnet Market - Macro Economic Scenario
5. Permanent Magnet Market Size And Growth
……
27. Permanent Magnet Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Permanent Magnet Market
29. Permanent Magnet Market Future Outlook And Potential Analysis
30. Appendix
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