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Global Permanent Magnets Market Share, Size, Trends And Growth Rate From 2017 To 2022
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Moreover, as compared to other energy storage devices, permanent magnet does not perform any network on its surroundings due to which its performance is not affected by repeated usage. Owing to the aforementioned characteristics, it finds numerous applications across various industries.
According to a new report by Expert Market Research, the global permanent magnets market reached a consumption value of US$ 16,808 Million in 2016 and is further expected to reach US$ 23,979 Million by 2022. Over the past several years, the demand for permanent magnets has accelerated as usage of energy-efficient technology and devices has been on a rise. Some of the other factors that have further added to the market growth include its expanding applications, focus on reduction of carbon footprint, advancements in information and communication technology and infrastructural developments in emerging markets.
Key findings from the report:
Various types of permanent magnets are Ferrite, Neodymium Iron Boron, Aluminium Nickel Cobalt and Samarium Cobalt.
The end-uses of permanent magnets include Data Storage Devices (HDD, CD, DVD), Hybrid Electric Vehicles, Electric Bicycles, Heating, Ventilating and Air Conditioners (HVAC), Wind Turbines and Others. In 2016, Data Storage Devices represented the largest end-use segment with the majority of the market share.
Region-wise, China dominated the market with a share of more than two-third of the total global production in 2016. It was followed by Japan, United States and Europe and Others.
Being fragmented in nature, the global permanent magnets market is surrounded by a number of players, namely, Advanced Technology & Materials Co. Ltd, Beijing Zhong Ke San Huan High-Tech Co. Ltd, BGRIMM Magnetic Materials & Technology Co. Ltd., Adams Magnetic Products Corporation, Arnold Magnetic Technologies Corporation, Bunting Magnetics Corporation, Jiashan Pengcheng Magnets Co. Ltd, Hitachi Metals America Ltd., Magnetics, Inc. and Master Magnetics, Inc.
Read full report with TOC @ http://www.expertmarketresearch.com/reports/permanent-magnets-market
Expert Market Research has analysed the global permanent magnets market according to type, end-use, major regions and top players:
Market breakup by Type
- Ferrite
- Neodymium Iron Boron
- Aluminium Nickel Cobalt
- Samarium Cobalt
Market breakup by End-use
- Data Storage Devices (HDD, CD and DVD)
- Hybrid Electric Vehicles
- Electric Bicycles
- Heating, Ventilating and Air Conditioners (HVAC)
- Wind Turbine
- Others
Market breakup by Region
- China
- Japan
- United States
- Europe
- Others
Top players
- Advanced Technology & Materials Co., Ltd
- Beijing Zhong Ke San Huan High-Tech Co., Ltd
- BGRIMM Magnetic Materials & Technology Co., Ltd.
- Adams Magnetic Products Corporation
- Arnold Magnetic Technologies Corporation
- Bunting Magnetics Corporation
- Jiashan Pengcheng Magnets Co., Ltd
- Hitachi Metals America Ltd.
- Magnetics, Inc.
- Master Magnetics, Inc.
Browse more reports on chemical & material research @ http://www.expertmarketresearch.com/categories/chemicals-market-reports
About Expert Market Research
Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.
With a keen focus on the qualitative aspect as well as accuracy of the reports, we align our resources and services as per the client’s requirement and offer a flexible engagement model that best suits their needs. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical & Materials, Energy & Mining, Packaging and Agriculture.
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