There were 443 press releases posted in the last 24 hours and 166,620 in the last 365 days.

Permanent Magnets Market to Register 8.5% CAGR Through 2029; Opportunities Emerge with Electronics and Smart Device Production, Says a New Fact.MR Report

Increasing application in smart homes and automotive industry provides impetus to the sales of permanent magnets on a global level.

/EIN News/ -- Dubai, UAE, March 26, 2020 (GLOBE NEWSWIRE) -- The global permanent magnets market will expand at an 8.5% CAGR during 2019 – 2029, as projected by a new Fact.MR report. Key players in the permanent magnets market are eying profitable opportunities through electronics applications such as music systems, laptops, and smart phones, to appeal to a wider demographic of consumers.

“Innovation and development of end-use applications including automotive, water pumps, and medical instruments will provide manufacturers an essential competitive edge,” says the Fact.MR report.

Request Sample Report - https://www.factmr.com/connectus/sample?flag=S&rep_id=4575

Permanent Magnets Market: Key Findings

  • Automotive applications of permanent magnets will account for an impressive 10.7% CAGR through 2029, driven by adoption of electric vehicles.
  • The neodymium iron boron permanent magnets segment is a key contributor towards market growth. 
  • Medical instruments with permanent magnets will display strong growth.
  • Asia Pacific will remain a leading market through 2029, and will also grow 2.4X.

Permanent Magnets Market: Key Driving Factors

  • The demand for smart devices in consumer electronics is aiding demand for permanent magnets, driven by millennial consumer preferences.
  • The production of high definition televisions including 4k and 8k versions is a key driver of market growth.
  • High prevalence of electric cars is fuelling global demand for components with permanent magnets.
  • Easy availability of products powered by magnet-run motors would generate demand among end users. 

Explore the complete permanent magnets market report with detailed market segmentation, 197 illustrative figures, and 98 data tables at –

https://www.factmr.com/report/4575/permanent-magnets-market

Permanent Magnets Market: Key Restraints

  • Competition from alternatives such as electromagnets and soft magnets is a key challenge for manufacturers.
  • The relatively higher costs associated with permanent magnets in for varying end user needs impacts market profitability.

Competition Landscape

Manufacturers are increasingly focusing on capacity expansion endeavors, driven by mergers, acquisitions, and installations. Industry heavyweights are also investing in the setup of research and development centers. Prominent companies operating in permanent magnets market include, but are not limited to, Pacific Metals, Co., Adams Magnetic Products Co., Arnold Magnetic Technologies, Electron Energy Corporation, and Hitachi Metals Limited, among others.

About the Report
This 170-page study offers detailed market forecast on the permanent magnets market. The key categories covered in the report include material (ferrite, neodymium iron boron, aluminum nickel cobalt, and samarium cobalt) and application (automotive, consumer goods & electronics, industrial, aerospace & defense, energy, and medical). This analysis has been tracked on a country-wise level, with a total of 30+ countries across 6 key regions.

Explore Fact.MR’s lucid coverage of the industrial goods landscape
Press Break Market– The press break market study analyses the key trends, innovations, regulatory policies, and key strategies adopted by leading players in this market scenario.
Photoinitiator Market– The study analyses the photoinitiator market and discusses key growth opportunities in USD million across 30+ countries in six regions.
Cleanroom Equipment Market– With strong growth through 2028, clean room equipment manufacturers are eying substantial growth in this market. 

About Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned research team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed the industrial goods sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

Contact:

Fact.MR

11140 Rockville Pike

Suite 400

Rockville, MD 20852

United States

Email: sales@factmr.com

Web: https://www.factmr.com/

PR- https://www.factmr.com/media-release/1352/global-permanent-magnets-market

Primary Logo

Distribution channels: Business & Economy, Science


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.