The Permanent Magnet market Size, Share and 2020 Trends Analysis | Industry Forecast to 2027.
The Permanent Magnet Market growth will Exhibit a CAGR 8.7% by 2026 and reach
USD 34.70 billion by 2026. The
forecast period is set from 2020-2026” , the market value stood as per
2018 was USD 17.85 Billion.
Fortune
Business Insights™ published a premium research report titled, “Permanent Magnet Market Size, Share & Industry Analysis, By Type
(Neodymium Iron Boron (NdFeB), Ferrite, Samarium Cobalt (SmCo), Aluminum Nickel
Cobalt (Alnico), and Others), By Application (Consumer Electronics, Automotive,
General Industrial, Medical Devices, Energy, and Others), and Regional
Forecast, 2019-2026,” ,” offers a comprehensive overview of the
market.
The
Permanent Magnet Market Drivers and Restraints :
Various
factors are responsible for the permanent
magnet market growth. These include the increasing demand
for various electronic devices such as television, laptops, music systems, and
smartphones, coupled with the rise in need for more energy for consumption.
This, coupled with the growing demand from the automotive sector will also aid
in the expansion of the market in the forecast period. Besides this, the
advancement in technology and use of neodymium iron boron (NdFeB) for various
applications such as domestic appliances and wind turbines, and other
electronic equipment such as speakers are likely to bode well for the market in
the coming years.
List of Permanent Magnet Market Manufacturers
include:
·
Adams Magnetic Products Co., Inc.
·
Arnold Magnetic Technologies Corp.
·
TDK Corporation
·
Tengam Engineering, Inc.
·
Alpha Magnet
·
Electron Energy Corporation
·
Ningbo Yunsheng Co. Ltd.
·
Integrated Magnetics
·
Magnequench International, LLC,
·
Tridus Magnetics and Assemblies
·
Bunting Magnetics Co.
·
Anhui Earth-Panda Advance Magnetic
Material Co., Ltd.
·
Hangzhou Permanent Magnet Group
·
Daido Steel Co., Ltd.
·
Shin-etsu Chemical Co., Ltd.
·
Hitachi Metals, Ltd.
·
Other Players
To gain more insights into the market with a
detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/permanent-magnet-market-102776
Some
of the key industry developments in the Permanent Magnet Market Include:
April 2019 – Bunting
Magnetics introduced ElectroMax Overband Magnet at Bauma. The company aims at
adhering to the needs of customers such as more compact, smaller electro
overband, and lighter magnets.
MAY 2018 – Santoku Corporation, the rare earth
metal producer was acquired by Hitachi Metals Ltd., for the production of a
wholly-owned subsidiary.
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