#Permanent Magnet Market forecast

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Permanent Magnets Market 2030 Trends, Growth, Revenue, Outlook and Future Estimation

The global permanent magnets market was valued at USD 22.18 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030. This growth is largely fueled by the rising importance of renewable energy sources, such as wind and solar energy, where permanent magnets play a key role in enhancing efficiency. In wind turbine generators, for example, permanent magnets help increase operational efficiency and reduce maintenance needs. Rare earth magnets, especially Neodymium Ferrite Boron (NdFeB), are widely utilized in wind turbines due to their reliability and durability, making them ideal for renewable energy applications.

In the United States, the market for permanent magnets is expected to grow faster than ferrite magnets, thanks to their use in advanced applications, including robotics, wearable technology, electric vehicles, and wind power. Since the 2008-09 economic downturn, the U.S. automotive industry has shown steady growth, particularly in the electric vehicle (EV) segment, with significant contributions from manufacturers like Tesla, Chevy, Nissan, Ford, Audi, and BMW. Notably, Tesla adopted neodymium magnets for motors in early 2018, marking a trend that many other EV manufacturers are following.

Gather more insights about the market drivers, restrains and growth of the Permanent Magnets Market

Despite this growth, the U.S. still relies heavily on imports, especially for automotive parts containing electric motors and other components. In 2023, the U.S. imported approximately 4 million pounds of automotive parts from China, primarily due to a limited number of domestic manufacturers of permanent motor magnets. However, the ongoing trade tensions between the U.S. and China present a challenge, as potential restrictions on rare earth imports from China could disrupt the supply chain. In response, the U.S. government has taken steps to secure its domestic supply of rare earth materials, including funding mining projects under the Defense Production Act, which is expected to strengthen the availability of raw materials for the local permanent magnet industry.

According to the International Monetary Fund (IMF), North America's GDP growth was projected to be 1.6% for 2023, driven primarily by the U.S. economy. In the second quarter of 2023, the U.S. saw a GDP growth of 2.4% (seasonally adjusted), which can be attributed to government spending, consumer spending, and business investments. With support from government fiscal packages, the U.S. industrial sector, including the permanent magnets market, experienced gradual growth in 2023.

Application Segmentation Insights:

In 2023, the consumer goods and electronics sector emerged as the largest application segment, accounting for approximately 26% of the market revenue. Permanent magnets are widely used in the electronics industry in various products, including air conditioning compressors, DVD players, cameras, watches, earbuds, loudspeakers, microphones, mobile phones, voice coil motors, printers, hard disk drives (HDDs), and power tool motors. The continued production and development of these electronic goods are expected to support the demand for permanent magnets in this sector.

The automotive sector is expected to see steady revenue growth over the forecast period. According to Arnold Magnetic Technologies, a typical car has around 100 permanent magnet devices. While ferrite magnets are still widely used by most automakers, the growing demand for lightweight vehicles and energy-efficient components is increasing the need for high-performance permanent magnets. As automotive manufacturers strive for greater fuel efficiency, advancements in magnetic materials are expected to drive growth in the automotive sector.

The industrial sector held the third-largest share in the permanent magnet market in 2023. Within this sector, the oil and gas industry presents significant opportunities for permanent magnet vendors. The industry increasingly uses energy-intensive technologies, such as electronic submersible pumps (ESPs), where permanent magnet motors (PMMs) offer economic advantages over traditional asynchronous motors. Permanent magnets help reduce power consumption and increase efficiency in these applications, making them valuable in energy-intensive industrial processes.

The medical sector is projected to be one of the fastest-growing application segments for permanent magnets over the forecast period. The demand in healthcare is driven by their use in advanced medical devices, including MRI machines, body scanners, and pacemakers. As healthcare facilities increasingly rely on high-performance, precise medical equipment, the demand for permanent magnets is expected to rise, contributing to market growth in this segment.

In summary, the permanent magnets market is set to grow robustly due to rising demand across various industries, including renewable energy, consumer electronics, automotive, industrial, and healthcare. As advancements in materials and technology continue, the versatility and efficiency of permanent magnets will make them essential in meeting the needs of these expanding markets.

Order a free sample PDF of the Permanent Magnets Market Intelligence Study, published by Grand View Research.

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Permanent Magnets Market 2030 Size Outlook, Growth Insight, Share, Trends

The global permanent magnets market was valued at USD 22.18 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030. This growth is largely fueled by the rising importance of renewable energy sources, such as wind and solar energy, where permanent magnets play a key role in enhancing efficiency. In wind turbine generators, for example, permanent magnets help increase operational efficiency and reduce maintenance needs. Rare earth magnets, especially Neodymium Ferrite Boron (NdFeB), are widely utilized in wind turbines due to their reliability and durability, making them ideal for renewable energy applications.

In the United States, the market for permanent magnets is expected to grow faster than ferrite magnets, thanks to their use in advanced applications, including robotics, wearable technology, electric vehicles, and wind power. Since the 2008-09 economic downturn, the U.S. automotive industry has shown steady growth, particularly in the electric vehicle (EV) segment, with significant contributions from manufacturers like Tesla, Chevy, Nissan, Ford, Audi, and BMW. Notably, Tesla adopted neodymium magnets for motors in early 2018, marking a trend that many other EV manufacturers are following.

Gather more insights about the market drivers, restrains and growth of the Permanent Magnets Market

Despite this growth, the U.S. still relies heavily on imports, especially for automotive parts containing electric motors and other components. In 2023, the U.S. imported approximately 4 million pounds of automotive parts from China, primarily due to a limited number of domestic manufacturers of permanent motor magnets. However, the ongoing trade tensions between the U.S. and China present a challenge, as potential restrictions on rare earth imports from China could disrupt the supply chain. In response, the U.S. government has taken steps to secure its domestic supply of rare earth materials, including funding mining projects under the Defense Production Act, which is expected to strengthen the availability of raw materials for the local permanent magnet industry.

According to the International Monetary Fund (IMF), North America's GDP growth was projected to be 1.6% for 2023, driven primarily by the U.S. economy. In the second quarter of 2023, the U.S. saw a GDP growth of 2.4% (seasonally adjusted), which can be attributed to government spending, consumer spending, and business investments. With support from government fiscal packages, the U.S. industrial sector, including the permanent magnets market, experienced gradual growth in 2023.

Application Segmentation Insights:

In 2023, the consumer goods and electronics sector emerged as the largest application segment, accounting for approximately 26% of the market revenue. Permanent magnets are widely used in the electronics industry in various products, including air conditioning compressors, DVD players, cameras, watches, earbuds, loudspeakers, microphones, mobile phones, voice coil motors, printers, hard disk drives (HDDs), and power tool motors. The continued production and development of these electronic goods are expected to support the demand for permanent magnets in this sector.

The automotive sector is expected to see steady revenue growth over the forecast period. According to Arnold Magnetic Technologies, a typical car has around 100 permanent magnet devices. While ferrite magnets are still widely used by most automakers, the growing demand for lightweight vehicles and energy-efficient components is increasing the need for high-performance permanent magnets. As automotive manufacturers strive for greater fuel efficiency, advancements in magnetic materials are expected to drive growth in the automotive sector.

The industrial sector held the third-largest share in the permanent magnet market in 2023. Within this sector, the oil and gas industry presents significant opportunities for permanent magnet vendors. The industry increasingly uses energy-intensive technologies, such as electronic submersible pumps (ESPs), where permanent magnet motors (PMMs) offer economic advantages over traditional asynchronous motors. Permanent magnets help reduce power consumption and increase efficiency in these applications, making them valuable in energy-intensive industrial processes.

The medical sector is projected to be one of the fastest-growing application segments for permanent magnets over the forecast period. The demand in healthcare is driven by their use in advanced medical devices, including MRI machines, body scanners, and pacemakers. As healthcare facilities increasingly rely on high-performance, precise medical equipment, the demand for permanent magnets is expected to rise, contributing to market growth in this segment.

In summary, the permanent magnets market is set to grow robustly due to rising demand across various industries, including renewable energy, consumer electronics, automotive, industrial, and healthcare. As advancements in materials and technology continue, the versatility and efficiency of permanent magnets will make them essential in meeting the needs of these expanding markets.

Order a free sample PDF of the Permanent Magnets Market Intelligence Study, published by Grand View Research.

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Permanent Magnets Industry Competitive Landscape and Industry Analysis 2030

The global permanent magnets market was valued at USD 22.18 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030. This growth is largely fueled by the rising importance of renewable energy sources, such as wind and solar energy, where permanent magnets play a key role in enhancing efficiency. In wind turbine generators, for example, permanent…

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Rare Earth Permanent Magnet for Consumer Electronics Market, Global Outlook and Forecast 2025-2032

The global Rare Earth Permanent Magnet for Consumer Electronics market refers to high-performance magnets composed of rare earth elements like neodymium, dysprosium, and samarium. These magnets are widely used in consumer electronics, contributing to the efficiency and functionality of devices such as smartphones, laptops, headphones, and other modern electronic gadgets. Rare earth magnets are essential due to their superior magnetic properties, including high magnetic strength, heat resistance, and longevity, making them ideal for applications requiring compactness and reliability.

Rare earth permanent magnets are crafted through advanced manufacturing techniques, primarily in two forms: sintered and bonded. Sintered magnets are typically made by compressing and sintering rare earth materials at high temperatures, yielding a hard, dense material. Bonded magnets, on the other hand, combine rare earth powders with polymer resins or adhesives, offering flexibility and ease of shaping for specific applications.

These magnets play a critical role in consumer electronics by enabling smaller, lighter, and more energy-efficient products. They are integral components of motors, sensors, actuators, and other essential systems in modern electronic devices. With the increasing demand for more powerful and compact consumer electronics, the market for rare earth permanent magnets continues to experience rapid growth.

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Market Size

As of 2023, the global Rare Earth Permanent Magnet for Consumer Electronics market is estimated to be valued at USD 8.39 billion. This figure is projected to grow significantly, reaching USD 11.57 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.70% during the forecast period. The market's growth can be attributed to the increasing demand for smaller and more powerful consumer electronics, as well as the growing reliance on high-performance magnets in various devices such as smartphones, laptops, electric vehicles, and medical equipment.

North America, for instance, accounted for a market size of USD 2.19 billion in 2023, with an expected CAGR of 4.03% from 2025 through 2032. The demand for rare earth magnets in the region is driven by technological advancements and the rising adoption of electric vehicles and smart devices.

Market Dynamics (Drivers, Restraints, Opportunities, and Challenges)

Drivers

Several key factors are propelling the growth of the rare earth permanent magnet market for consumer electronics:

Technological Advancements: Continuous improvements in consumer electronics such as smartphones, tablets, and wearables require smaller, more powerful, and energy-efficient components. Rare earth magnets help achieve these features due to their exceptional magnetic strength and compactness.

Increasing Demand for Electric Vehicles (EVs): The global shift toward clean energy and electric vehicles has led to an uptick in the demand for rare earth magnets. These magnets are essential in electric motors and other components of EVs, fueling growth in the automotive sector.

Miniaturization of Consumer Electronics: The ongoing trend of shrinking electronic devices to make them more portable and convenient boosts the demand for rare earth magnets, which help in reducing the overall size without compromising performance.

Sustainability and Energy Efficiency: With a growing emphasis on sustainability, rare earth magnets contribute to energy-efficient devices, which is a major driver in industries focused on reducing carbon footprints.

Restraints

While the market shows strong growth potential, several factors could constrain its expansion:

High Cost of Raw Materials: Rare earth elements are often expensive and sourced from a limited number of countries, creating volatility in pricing. This can increase production costs and limit accessibility for smaller manufacturers.

Geopolitical Risks: The majority of rare earth mining and processing is concentrated in a few regions, particularly China, which controls most of the global supply. Geopolitical tensions and trade restrictions can impact the availability and price of rare earth materials.

Environmental Impact of Mining: Extracting rare earth elements can have significant environmental consequences, including land degradation and pollution. These concerns may limit the growth of mining activities in certain regions and lead to stricter regulations.

Opportunities

The rare earth permanent magnet market presents several opportunities for growth:

Growing Demand for Wearables and IoT Devices: As wearable technology and the Internet of Things (IoT) continue to expand, the need for compact, efficient, and high-performance components like rare earth magnets is expected to rise.

Development of New Alloys and Manufacturing Techniques: Innovations in materials science may lead to the creation of new, more cost-effective rare earth alloys or alternative materials, reducing dependency on traditional rare earth elements and making production cheaper.

Expanding Application in Renewable Energy: Rare earth magnets are also used in wind turbines, making them crucial to the renewable energy industry. As the demand for green energy grows, this market segment holds substantial potential.

Challenges

Despite the opportunities, the market faces a few ongoing challenges:

Supply Chain Vulnerabilities: The supply chain for rare earth materials is susceptible to disruption, especially considering their concentrated production in a few countries. This makes the industry vulnerable to price fluctuations and shortages.

Recycling Limitations: The recycling of rare earth magnets is not yet as efficient as desired, limiting the reuse of these materials. This poses a challenge in terms of sustainability and reducing reliance on primary mining.

Regional Analysis

North America

North America has a substantial market share, with the United States and Canada being the key consumers of rare earth permanent magnets in consumer electronics. The market is driven by the increasing demand for high-tech devices, electric vehicles, and advancements in consumer electronics. However, the region faces challenges related to the supply of raw materials and high production costs.

Europe

Europe is experiencing growth in the demand for rare earth magnets, especially due to the increasing adoption of electric vehicles and renewable energy systems. The EU is also focused on securing its supply chain through initiatives aimed at developing sustainable sources of rare earth elements.

Asia-Pacific

Asia-Pacific, particularly China, holds a dominant position in the global rare earth permanent magnet market. China is not only the largest producer but also the leading consumer of rare earth materials, driving both the production and demand for rare earth magnets. Countries like Japan and South Korea are also significant contributors, with major electronics companies and a high demand for consumer devices.

South America and MEA

While South America and the Middle East and Africa (MEA) are smaller markets, their demand is gradually growing. The MEA region, especially, is showing an increased interest in renewable energy applications and electric vehicles, which require rare earth magnets.

Competitor Analysis

Key players in the global Rare Earth Permanent Magnet for Consumer Electronics market include:

Hitachi Metals Group: Known for producing high-quality sintered rare earth magnets, Hitachi Metals is one of the leading players in the industry.

Shin-Etsu: A major competitor in the field of rare earth magnets, Shin-Etsu specializes in both sintered and bonded rare earth magnets used in electronics.

TDK: TDK manufactures a wide range of magnets and is highly regarded for its innovations in the field of magnetic materials.

Yunsheng Company: Known for producing magnets for a variety of consumer electronics, Yunsheng Company is a significant player in the market.

JL MAG: A leading manufacturer of rare earth magnets, JL MAG focuses on sustainable practices and expanding its footprint in the automotive and electronics sectors.

These companies, along with others such as VAC, Beijing Zhong Ke San Huan Hi-Tech, and Daido Electronics, play a pivotal role in shaping the competitive landscape of the market.

Global Rare Earth Permanent Magnet for Consumer Electronics: Market Segmentation Analysis

This report provides a deep insight into the global Rare Earth Permanent Magnet for Consumer Electronics market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and assessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Rare Earth Permanent Magnet for Consumer Electronics Market. This report introduces in detail the market share, market performance, product situation, operation situation, etc., of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Rare Earth Permanent Magnet for Consumer Electronics market in any manner.

Market Segmentation (by Application)

Cell Phone

Computer

Headset

Other

Market Segmentation (by Type)

Sintered Rare Earth Magnet

Bonded Rare Earth Magnet

Key Company

Hitachi Metals Group

Shin-Etsu

TDK

VAC

Beijing Zhong Ke San Huan Hi-Tech

Yunsheng Company

YSM

JL MAG

ZHmag

Jingci Material Science

AT&M

NBJJ

Innuovo Magnetics

SGM

Galaxy Magnetic

Zhejiang Zhongyuan Magnetic

Earth-Panda

Magsuper

Daido Electronics

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

FAQ 

What is the current market size of Rare Earth Permanent Magnet for Consumer Electronics?

➣ The global market size is estimated at USD 8.39 billion in 2023 and is projected to reach USD 11.57 billion by 2032.

Which are the key companies operating in the Rare Earth Permanent Magnet for Consumer Electronics market?

➣ Key players include Hitachi Metals Group, Shin-Etsu, TDK, VAC, and Beijing Zhong Ke San Huan Hi-Tech.

What are the key growth drivers in the Rare Earth Permanent Magnet for Consumer Electronics market?

➣ Drivers include technological advancements in electronics, increased demand for electric vehicles, and the trend toward miniaturization in consumer electronics.

Which regions dominate the Rare Earth Permanent Magnet for Consumer Electronics market?

➣ Asia-Pacific, particularly China, holds the dominant share of the market, followed by North America and Europe.

What are the emerging trends in the Rare Earth Permanent Magnet for Consumer Electronics market?

➣ Emerging trends include the growing demand for wearables, electric vehicles, and renewable energy applications, as well as innovations in recycling technologies and sustainable sourcing of rare earth materials.

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Rare Earth Permanent Magnet for Consumer Electronics Market

Overview of the regional outlook of the Rare Earth Permanent Magnet for Consumer Electronics Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

6-month post-sales analyst support

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The Future of Neodymium: Market Insights and Technological Developments

The global neodymium market size is expected to reach USD 7.30 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 15.0% from 2022 to 2030. The market is anticipated to be driven by rising demand for neodymium magnets from wind energy and electric vehicle industries.

China is the largest producer of both rare earth and permanent magnets in the world. The country accounts for over 70% of the global permanent magnet production and 60% of the global rare earth production according to the global mining data published by the USGS. The significant factor that has led to China’s dominance, especially in rare earth permanent magnet production, is the abundance of rare earth deposits in China.

In terms of value, magnets are anticipated to register the fastest CAGR during the forecast period. Their growing demand from electronics, wind energy, and automotive end-uses is propelling segment growth. The primary consumers of neodymium magnets include electric motor manufacturers, EV manufacturers, electronic component (sensors, microphones, earphones, HDD) manufacturers, and other magnetic assembly manufacturers. Thus, growing demand from end-use industries such as automotive and electronics is propelling segment growth.

Wind energy is projected to provide opportunities for the market and the segment is anticipated to register a revenue-based CAGR of 15.3% during the forecast period. Its growth is attributed to the increasing shift towards renewable energy and sustainable energy practices. Wind turbine demand is expected to positively impact market growth. As per the Global Wind Energy Council, 2021 witnessed around 93 GW of installed capacity addition, an increase of 53% from 2020.

In terms of volume, North America is a significantly smaller market as compared to Asia Pacific. The lesser availability of rare earth oxides in the region makes the region import-reliant on China. The catalyst producers are the prominent consumers of neodymium in North America, which cater to the tire and oil and gas industries. The commercial uses of neodymium catalysts are limited owing to their expensive nature. They are used in refinery petroleum cracking, polymerization, and photovoltaic wastewater treatment.

Neodymium Market Report Highlights

Based on application, magnets held the largest revenue share of over 55.0% in 2021. The growing usage of permanent magnets is propelling the market growth

Based on end-use, the electrical and electronics segment is anticipated to register a CAGR of 14.9%, in terms of revenue, across the forecast period. The widespread application scope of neodymium in fiber optic technology, speakers, and other electronic components is boosting segment growth

Europe held the second-largest revenue share in 2021. The rising demand for magnets in end-use industries including automotive and wind energy is anticipated to augment the market growth over the forecast period

The favorable policies and governments’ initiatives toward economic recovery after the pandemic are anticipated to augment the demand for neodymium over the coming years. For instance, investments by the Chinese automotive manufacturer, BYD Auto Industry Co., Ltd., and Japanese automotive player, Toyota, to set up a manufacturing facility in Central and South America are expected to boost automotive production, thereby propelling the need for neodymium magnets

Neodymium Market Segmentation

Grand View Research has segmented the global neodymium market on the basis of application, end-use, and region:

Neodymium Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

Magnets

Catalysts

Ceramics & Glass

Others

Neodymium End-use Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

Automotive

Electrical & Electronics

Wind Energy

Others

Neodymium Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

North America

US

Canada

Mexico

Europe

Germany

France

UK

Asia Pacific

China

India

Japan

Central & South America

Brazil

Middle East & Africa

South Africa

Key Players

ARAFURA RESOURCES

China Rare Earth Holdings Limited

Lynas Rare Earths Ltd.

METALL RARE EARTH LIMITED

MP MATERIALS

Peak Rare Earths

Rainbow Rare Earths Limited

Texas Mineral Resources Corp.

HEFA Rare Earth

Greenland Minerals Ltd.

Order a free sample PDF of the Neodymium Market Intelligence Study, published by Grand View Research.

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FeCrCo Permanent Magnetic Material Market size at USD 3,342.70 million in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Global FeCrCo Permanent Magnetic Material Market size to expand at a CAGR of 7.40% reaching a value of USD 5,078.4 million by 2031. The growing demand for FeCrCo permanent magnetic materials across a range of industries, including consumer electronics, aerospace, and defense, is one of the key drivers for the global market growth.

Opportunity - Advancements in Renewable Energy Sector

Rising investments in the renewable energy sector, such as wind and solar power, are projected to drive Global FeCrCo Permanent Magnetic Material Market over the forecast period. High-performance magnets, including FeCrCo-based alloys, are used in wind turbines for efficient generator operations. The rising development and installation of wind farms and the shift towards the renewable energy sector to mitigate climate change are anticipated to boost the demand for magnetic materials. For instance, Windey, a Chinese wind turbine maker, recently launched a 16 MW floating wind turbine. Such launches may proliferate the need for high efficiency, durability, and performance magnets.

Sample Request: https://www.blueweaveconsulting.com/report/fecrco-permanent-magnetic-material-market/report-sample

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India Soft Magnetic Material Market Scope, Analysis, Report 2023-2030

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Soft Magnetic Material Market size by value at USD 515.2 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India Soft Magnetic Material Market size to expand at a CAGR of 5.40% reaching a value of USD 735.9 million by 2030. The growth of Soft Magnetic Material Market in India is propelled by the burgeoning electric and hybrid vehicles market, expanding renewable energy infrastructure, and technological advancements are driving the demand for soft magnetic materials in India. Soft magnetic materials, renowned for their superior magnetic properties, are indispensable in motor applications, enhancing efficiency and performance. The growing adoption of advanced automotive components and the increasing use of soft magnetic materials in electric vehicles are further propelling the growth of India Soft Magnetic Material Market in the coming years.

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Impact of Escalating Geopolitical Tensions on India Soft Magnetic Material Market

India Soft Magnetic Material Market may face significant challenges from intensifying geopolitical tensions across the world. Increased trade barriers, import restrictions, and supply chain disruptions could lead to higher raw material costs and hinder technological advancements. Moreover, geopolitical instability may limit foreign investments and disrupt global manufacturing networks, potentially slowing down production and increasing operational costs.

Motors Segment Leads India Soft Magnetic Material Market by Application

Motors dominate India Soft Magnetic Materials Market by application. due to their widespread use in automotive, industrial, and consumer electronics applications. Soft magnetic materials enhance motor performance by optimizing magnetic flux and reducing energy losses. The increasing adoption of electric and hybrid vehicles, as well as the growing demand for high performance motors in various industrial sectors, is further driving the motors segment in the market. The other major application segments in India Soft Magnetic Material Market include transformers, generators, inductors, electromagnetic shields, actuators and sensors.

Competitive Landscape

India Soft Magnetic Material Market is highly fragmented, with numerous players serving the market. The key players dominating India Soft Magnetic Material Market include Proterial (India) Private Limited, Delta Manufacturing Ltd, Ashvini Magnets Pvt Ltd, Kumar Magnet Industries, Parmanu Dhatu Nigam, Permanent Magnets Ltd (PML), Nomax Electrical Steel Pvt Ltd, Cosmo Ferrites Limited, and CIE Automotive India. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

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BlueWeave Consulting & Research Pvt Ltd

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Degaussing System Market Size, Share, Overview & Key Drivers by 2032

The global degaussing system market size was valued at USD 881.7 Million in 2022. The market is projected to grow from USD 905.9 Million in 2023 to USD 1,164.6 Million by 2030, exhibiting a CAGR of 3.7% during the forecast period.

The Degaussing systems are used to eliminate the induced and permanent longitudinal, vertical, and athwartship magnetism in various naval vessels by arranging magnetometers and coils accordingly. Copper coils surround the structure in all three dimensions during degaussing. Growing innovations in demagnetization or degaussing technology to drive global degaussing system market growth during the forecast period.

Fortune Business Insights™ mentioned this in a report titled, “Global Degaussing System Market, 2023-2030.”

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https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/degaussing-system-market-108153

List of Key Players Present in the Report:

Wärtsilä Corporation (Finland)

Larsen & Turbo Limited (India)

Ultra Electronics Holdings plc (U.K.)

L3 Harris Technologies, Inc. (U.S.)

American Superconductor Corporation (U.S.)

Polyamp AB (Sweden)

Raytheon Technologies Corporation (U.S.)

Groupe Gorgé (France)

STL Systems AG (Switzerland)

Hensoldt AG (Germany)

Russia-Ukraine War Impact

Increasing Naval Fleet Expansion and Modernization During Russia-Ukraine War to Aid Market Growth

The Russia-Ukraine war positively impacted the global degaussing system market growth. The increasing naval fleet expansion and modernization efforts by countries to reevaluate their naval capabilities are estimated to drive market growth during the forecast period. The defense agencies are boosting their innovative magnetic signature management solutions in response to the growing threat landscape, which further drives market growth.

Segments:

Degaussing Coils Segments to Dominate the Market Owing to Their Ability to Neutralize the Residual Magnetism

Based on the component, the market is classified into power supplies, degaussing coils, control units, monitoring systems, and others. The degaussing segment dominates the global degaussing system market share and is estimated to be the fastest-growing segment during the projected period. The growth is attributed as they are used to neutralize the residual magnetism in a ship's hull or electronic equipment.

Rising Demand for Prolonged Systems’ Accuracy and Reliability to Aid Ranging Segment Growth

By solution, the market is divided into degaussing, deperming, and ranging. The ranging segment is estimated to be the fastest-growing segment in the market due to the growing demand for prolonged systems’ accuracy and reliability.

Growing Demand for Border Security to Drive Offshore Patrol Vessel (OPV) Segment Growth

By vessel type, the market is segmented into amphibious ships, destroyers, frigates, landing craft, Offshore Patrol Vessel (OPV), mine warfare/countermeasure, submarine, and others. The Offshore Patrol Vessel (OPV) segment dominates the market and is estimated to witness significant growth during the forecast period. The growth is attributed to the increasing demand for border security and border control globally.

Service Segment Dominates the Market Due to Increasing Advanced Demagnetizing Techniques Demand

Based on end user, the market is classified into OEM, aftermarket, and services. The services segment dominates the market and is expected to witness significant growth during the forecast period owing to the increasing demand for advanced demagnetizing techniques.  

Geographically, the market is studied across North America, Europe, Asia Pacific, and Rest of the World.

Report Coverage

The report offers:

Major growth drivers, restraining factors, opportunities, and potential challenges for the market.

Comprehensive insights into regional developments.

List of major industry players.

Key strategies adopted by the market players.

The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints

Increased Government Initiatives to Expand Naval Vessels Fleet to Boost Market Growth

The governments of several nations globally are launching new initiatives and investing in the modernization and expansion of their naval fleets. This is expected to drive the global degaussing system market growth. The retrofitting of the existing naval ships with the updated systems is also expected to drive market growth during the projected period. The increasing engagement of naval forces to expand their naval vessel fleets globally to boost market growth during the forecast period.

However, the high costs associated with retrofit installation, training, customization, and compliance with strict rules and standards hamper market growth during the forecast period.

Regional Insights

Increased Presence of Major Fleet to Boost Market Growth in Asia Pacific

The Asia Pacific dominated the market and stood at USD 412.8 million in 2022. The growth was attributed to the high presence of a major fleet in the region.

North America is estimated to be the fastest-growing region during the forecast period and held a significant market share in 2022. The growth is attributed to the increasing expansion of naval defense capabilities in the region.

Competitive Landscape

Increasing Adoption of Mergers & Acquisitions by Key Players to Drive Market Growth

The global degaussing system market comprises key players, such as American Superconductor Corporation (AMSC), L3 Harris Technologies, Inc., Larsen & Toubro Limited, and others. The increasing adoption of mergers & acquisitions strategies by key players, with technological advancements and product innovation, is estimated to drive market growth during the forecast period.

Key Industry Development

November 2022 - Damen Shipyards Group commissioned Wärtsilä SAM Electronics to integrate the electrical systems of the F126 project. This includes the integration of all electrical systems, including the production and supply of switchgear, degaussing systems, power distribution systems, special equipment for power supply, lighting systems supply, and other equipment.

[rohanisblog]

Brush Motor Market Analysis: Growth Trends and $11.44B Forecast by 2027

Astute Analytica, a prominent market research firm, has recently published a comprehensive report that offers an extensive analysis of the global Brush Motor market. This report goes beyond mere statistics, providing deep insights into various critical aspects such as market segmentation, key players, market valuation, and regional overviews. It serves as a valuable resource for businesses and stakeholders seeking to navigate this evolving industry landscape. 

Market Valuation 

The report includes a thorough evaluation of the market valuation, drawing from historical data, current trends, and future projections. By employing rigorous analytical methods, it effectively captures the growth trajectory of the market. This detailed assessment allows businesses to understand the factors driving growth and make informed decisions regarding investments and strategic initiatives.

The Global Brush Motor Market, analyzed by Astute Analytica, is forecasted to witness a major rise in its revenue from US$ 7,431 Mn in 2021 to US$ 11,442.8 Mn by 2027, registering a CAGR of 7.5% during 2022-2027. In terms of volume, the market is registering a CAGR of 6.5% during the forecast period. 

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Comprehensive Market Overview 

Astute Analytica's report provides a holistic overview of the global Brush Motor market. It encapsulates a wide array of information related to market dynamics, including growth drivers, challenges, and opportunities. Stakeholders can leverage these insights to formulate effective strategies and maintain a competitive edge in the market. 

Key Players in the Market 

The report identifies and profiles the major players who are influencing the global Brush Motor market. Through meticulous research, it presents a clear view of the competitive landscape, detailing the strategies, market presence, and significant developments of leading companies. This section is vital for stakeholders who wish to understand the positioning and actions of their competitors. 

Key Companies: 

The key players in the Global Brush Motor Market are Siemens AG, Schneider Electric, ABB Limited, Nidec, Johnson Electric Holdings Limited, Allied Motion Inc., and AMETEK Inc., among others.

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Segmentation Analysis 

A crucial component of the report is the segmentation analysis, which delves into various market segments based on industry verticals, applications, and geographic regions. This detailed examination provides stakeholders with a nuanced understanding of market dynamics, enabling them to identify opportunities for growth and areas for investment. 

Market Segmentation: 

By Component segment of the Global Brush Motor Market is sub-segmented into:

Stator

Rotor / Armature

Brushes

Commutator

By Type segment of the Global Brush Motor Market is sub-segmented into:

Permanent Magnet

Shunt - Wound

Series - Wound

Compound Wound (Shunt + Series)

By Power Outputsegment of the Global Brush Motor Market is sub-segmented into:

Less than 750W o/p

Between 750W and 75kW o/p

Between 75kW and 375kW o/p

Greater than 375kW o/p

By Industry segment of the Global Brush Motor Market is sub-segmented into:

Aerospace

Automation

Broadcast

HVAC

Material handling

Medical

Oil and Gas

Power and Energy

Robotics

Security

Transportation

Other

By Sales Channelsegment of the Global Brush Motor Market is sub-segmented into:

OEM

Aftermarket

By Regionsegment of the Global Brush Motor Market is sub-segmented into:

North America

The U.S.

Canada

Mexico

Europe

The U.K.

Germany

France

Italy

Russia

Spain

Poland

Rest of Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

South America

Argentina

Brazil

Rest of South America

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

 Research Methodology 

Astute Analytica is recognized for its rigorous research methodology and dedication to delivering actionable insights. The firm has rapidly established a solid reputation by providing tangible outcomes to clients. The report is built on a foundation of both primary and secondary research, offering a granular perspective on market demand and business environments across various segments. 

Beneficiaries of the Report 

The insights presented in this report are invaluable for a range of stakeholders, including: 

Industry Value Chain Participants: Those directly or indirectly involved in the Brush Motor market need to stay informed about leading competitors and current market trends. 

Analysts and Suppliers: Individuals seeking up-to-date insights into this dynamic market will find the report particularly beneficial. 

Competitors: Companies looking to benchmark their performance and assess their market positions can leverage the data and analysis provided in this research. 

Astute Analytica's report on the global Brush Motor market is an essential resource that empowers stakeholders with the knowledge needed to navigate and thrive in this competitive landscape. 

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About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyse for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

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[reportprime1]

Vehicle Motors Market: Trends, Growth, and Future Opportunities

The Vehicle Motors market is expected to grow from USD 46.39 Billion in 2024 to USD 75.27 Billion by 2030, at a CAGR of 8.40% during the forecast period.

The vehicle motors market has emerged as a pivotal segment of the global automotive industry, fueled by advancements in electrification, stringent emission regulations, and the growing adoption of electric vehicles (EVs). Vehicle motors play a crucial role in converting electrical energy into mechanical energy, ensuring optimal performance and energy efficiency. This market encompasses motors used in various types of vehicles, including electric, hybrid, and conventional internal combustion engine (ICE) vehicles.

Top Key Market Players are

Nidec, Mabuchi, Johnson Electric, Mitsuba, Buhler, Denso, Bosch, ASMO, Brose, Shilin Electric, Remy International, Valeo

For More Insights into the Market, Request a Sample of this Report: https://www.reportprime.com/enquiry/sample-report/19870

Key Market Drivers

Rise of Electric Vehicles (EVs): The accelerating shift toward EVs is one of the primary drivers of the vehicle motors market. Governments worldwide are implementing policies to promote EV adoption, such as subsidies, tax rebates, and infrastructure development. Electric motors, which form the core of EV propulsion systems, are experiencing unprecedented demand. This trend is expected to grow further as automakers expand their EV portfolios to meet sustainability goals.

Stringent Emission Standards: With global efforts to reduce carbon emissions, regulatory bodies are enforcing stricter fuel efficiency and emission norms. This has prompted automakers to adopt advanced motor technologies, such as brushless DC motors and permanent magnet synchronous motors, to enhance vehicle efficiency.

Technological Advancements: Innovations in motor technology, such as high-efficiency motors and lightweight designs, are propelling market growth. Emerging trends, including integrated motor and inverter systems, are reducing the overall weight and complexity of propulsion systems, thereby improving vehicle performance.

Market Segmentation

By Motor Type:

DC Brushed Motors: Common in ICE vehicles for auxiliary applications like power windows and wipers.

Brushless DC Motors (BLDC): Preferred for EVs due to their high efficiency, reliability, and low maintenance.

Induction Motors: Widely used in hybrid vehicles for traction purposes.

Permanent Magnet Synchronous Motors (PMSM): Dominant in high-performance EVs due to their superior efficiency and power density.

By Vehicle Type:

Passenger Cars: The largest market segment, driven by the rapid adoption of EVs and hybrids.

Commercial Vehicles: Growing investments in electric buses and trucks are boosting demand in this segment.

Two-Wheelers: Rising urbanization and e-mobility trends are fueling the use of electric motors in scooters and motorcycles.

By Geography:

North America: Robust EV adoption and government incentives are key growth factors.

Europe: A leader in EV innovation, with stringent emission norms driving market demand.

Asia-Pacific: Rapid industrialization, urbanization, and the dominance of automotive giants like China and Japan make this region a growth hub.

Challenges in the Market

Despite its promising growth, the vehicle motors market faces several challenges. One major obstacle is the high cost associated with advanced motor technologies, which can hinder adoption in cost-sensitive markets. Additionally, the scarcity of raw materials like rare earth metals used in permanent magnet motors poses a supply chain risk. Overcoming these challenges will require a focus on alternative materials, improved recycling technologies, and government policies supporting sustainable practices.

Future Trends and Opportunities

Integration of AI and IoT: The integration of artificial intelligence (AI) and the Internet of Things (IoT) in vehicle motors is revolutionizing their functionality. Smart motors equipped with predictive maintenance capabilities and energy management systems are likely to dominate future markets.

Focus on Sustainability: As sustainability becomes a core focus, the development of recyclable motor components and energy-efficient designs will be pivotal. Research into bio-based materials for motor construction is also gaining traction.

Expansion of EV Infrastructure: The growth of EV charging networks and advancements in battery technology will further enhance the adoption of electric motors.