The Permanent Magnet Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Permanent Magnet Market?
The size of the permanent magnet market has significantly expanded in the past few years. In 2024, it was valued at $37.8 billion and is projected to increase to $42.52 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Permanent Magnet Industry?
The Permanent Magnet Global Market Report 2024 predicts that by 2029, the market size will increase to $67.16 billion. The growth rate, dictated by Compound Annual Growth Rate (CAGR), is forecasted to be 12.1%.
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What are the Key Growth Drivers Fueling the Permanent Magnet Market?
The key drivers in the permanent magnet market are:
• Expansion of the electric vehicle market
• Rising demand for smart devices
• Growth of industrial robotics
• Growing demand for permanent magnet generators
• Increased focus towards wind energy.
Global Market Segmentation: Identifying Major Permanent Magnet Industry Segments
The permanent magnet market covered in this report 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 And Energy, Aerospace And Defense, Consumer Electronics
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What are the Emerging Trends Shaping the Future of the Permanent Magnet Market?
The key trends in the dormitories market are:
• Magnetic levitation technology is emerging as a major trend.
• Development of rare earth-free magnets is shaping the future market.
• Miniaturization of electronic devices is another trend on the rise.
• Enhanced customization and design flexibility is also a growing trend.
Who Are the Top Competitors & Leading Players in the Permanent Magnet Market?
Major companies in the permanent magnet market are:
• Siemens AG
• Mitsubishi Electric Corporation
• Toshiba Corp.
• Hitachi Ltd.
• Asea Brown Boveri
• Robert Bosch GmbH
• Meidensha Corp.
• Continental AG
• Alstom SA
• Xizi Forvorda ELECTRICAL MACHINERY CO. LTD.
• DRS Technologies Pvt. Ltd.
• Emerson Electric Co.
• Johnson Electric Holdings Limited
• Leonardo DRS
• Nidec Motor Corporation
• Hangzhou Permanent Magnet Group
• Arnold Magnetic Technologies Corp.
• Tokyo Denki Kagaku Kogyo
• Electron Energy Corporation
• Adams Magnetic Products Co. Inc.
• Bunting Magnetics Co.
• Tengam Engineering Inc.
• Yantai Shougang Magnetic Materials Inc.
• Chengdu Galaxy Magnets Co. Ltd.
• Goudsmit Magnetics Ltd.
• Eclipse Magnetics Ltd.
• MagnaWorks Technology Inc.
• Dura Magnetics Inc.
• Daido Steel Co. Ltd.
• Hengdian Group DMEGC Magnetics Co. Ltd.
• Ningbo Vastsky Magnet Co. Ltd.
Regional Dominance: Which Area Leads the Global Permanent Magnet Market?
Asia-Pacific was the largest region in the permanent magnet market in 2024
