Europe Permanent Magnet Market Showing Impressive Growth by 2031 | Industry Trends, Share, Size, Top Key Players Analysis and Forecast Research

The Europe Permanent Magnet Market size is expected to reach US$ 3,665.45 million by 2031 from US$ 2027.17 million in 2024. The market is estimated to record a CAGR of 9.3% from 2025 to 2031.

The permanent magnet market in Europe is experiencing rapid growth, driven by the region's strong commitment to green energy, electrification, and technological innovations. One of the key factors propelling this growth is the surge in demand for EVs, as the European Union's stringent environmental regulations and policies push for a transition toward sustainable transportation. Permanent magnets, particularly those used in high-efficiency permanent magnet synchronous motors (PMSMs), are crucial components in EVs, making the automotive sector a significant driver of market expansion.

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The permanent magnet market is witnessing significant growth in the US owing to the surging demand from various end-use industries such as automotive, aerospace, and consumer electronics. The significant shift toward electric vehicles (EV) is driving the application of permanent magnets in the automotive sector, with automakers incorporating permanent magnet-based motors into their EV models. Permanent magnets, particularly rare-earth magnets, are essential components in electric motors used in EVs, wind turbines, and other renewable energy systems, thus driving demand for high-performance materials. The increasing push for decarbonization, along with the US government's incentives for EV adoption and initiatives of renewable energy projects, is accelerating the market expansion in the country.

MARKET INTRODUCTION

Europe's increasing investment in renewable energy, especially wind power, is fueling demand for permanent magnets in wind turbine generators, as these components are essential for efficient, direct-drive turbines. The region's strong push toward carbon neutrality by 2050, under the European Green Deal, is further accelerating the adoption of renewable energy and electrification technologies, which directly supports the need for permanent magnets in various applications. Moreover, Europe is investing in the development of a more resilient and sustainable supply chain for rare earth elements, which are critical to permanent magnet productions. This includes efforts to establish domestic mining and recycling facilities, reducing reliance on external sources, particularly China. In parallel, Europe's industrial sectors, including robotics, automation, and aerospace, are driving demand for high-performance permanent magnets in motors, actuators, and sensors.

List of Companies Profiled in the Europe Permanent Magnet Market Report are:

• Hitachi Ltd
• Shin-Etsu Chemical Co Ltd
• TDK Corp
• Arnold Magnetic Technologies
• Galaxymagnets
• Goudsmit Magnetics
• Electron Energy Corporation
• Dexter Magnetic Technologies
• Adams Magnetic Products
• LLC
• NINGBO YUNSHENG co

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Key Segmentation:

• Key segments that contributed to the derivation of the permanent magnet market analysis are type and application.
• By type, the permanent magnet market is segmented into neodymium-iron-boron, ferrite, samarium cobalt, alnico, and others. The neodymium-iron-boron segment dominated the market in 2024.
• In terms of application, the market is segmented into consumer electronics, automotive, aerospace and defense, medical, industrial machinery, energy, and others. The consumer electronics segment held the largest share of the market in 2024.

Table of Contents

1. Introduction
1.1 Business Market Insights Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. North America Cancer Therapeutics Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End Users
5. North America Cancer Therapeutics Market - Key Market Dynamics
5.1 Growth Drivers
5.1.1 Rising Prevalence of Cancer
5.1.2 Favorable Reimbursement Scenario for Novel Therapeutics
5.1.3 Improvement in Diagnosis Rate of Cancer
5.2 Market Opportunities
5.2.1 Government Intervention across Developing Nations to Improve the Access of Life-saving Drugs
5.2.2 Rising Investments in the Development of Advanced Drug Development Platforms
5.2.3 Growing Number of Clinical trials for Anticancer Drugs
5.3 Future Trends
5.3.1 Emergence of Advanced Cell & Gene Therapies
5.3.2 Rising Adoption of Precision Medicine and Personalized Therapeutics
5.3.3 Improvement in Diagnosis Rate of Cancer
5.4 Impact of Drivers and Restraints
6. North America Cancer Therapeutics Market Regional Analysis
6.1 North America Cancer Therapeutics Market Overview
6.2 North America Cancer Therapeutics Market Revenue 2022-2031 (US$ Million)
6.3 North America Cancer Therapeutics Market Forecast Analysis and many more ...

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