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Booming Consumer Electronics Industry to Remain Backbone for Demand Growth of Demagnetizers, States Fact.MR

Demagnetizers Market to Evolve to US$ 1.12 Billion by 2032 Owing to High Commercial Consumption in Automotive and Industrial Manufacturing Sectors

United States, Rockville MD, June 21, 2022 (GLOBE NEWSWIRE) -- According to a recent report by market research and competitive intelligence provider Fact.MR, the sales of global demagnetizers market is valued at US$ 673.2 million, with predictions that it will expand at 5.2% CAGR between 2022 and 3032.

Demagnetizers are devices that are used to add or remove a magnetic field of a magnets, which are further used in various tools. In other words, a demagnetizer is a tool that is designed to feature or eliminate a magnetic discipline to a device, which is likewise called a degausser. A demagnetizer keeps screws attached to the screwdriver by adding a magnetic field to it, in addition to sticks, metallic screws, and different fasteners.

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Demagnetization is used in a variety of application areas such manufacturing processes that produce residue that can accumulate in various machinery parts. For example, in fire pollutants such as particle flakes generated during the manufacture of metal parts. It is also used to avoid shaft voltage or shaft current induced by residual magnetism in pumps, compressors, turbines, electrical machinery, etc.

Demagnetizers, which have become an essential product for demagnetizing in several industries such as consumers electronics, scientific research, and other industries, are expected to gain traction in the market and push sales beyond the US$ 1.12 billion mark by the end of 2032.

How is the Global Demagnetizers Predicted to Evolve?

“European Demagnetizers Market Growing Rapidly on Back of Huge Automotive Sector”

The European demagnetizers market holds 23.6% of the global market share in 2022. The automobile industry is crucial to Europe’s GDP contribution. Europe is one of the largest automakers in the world and this sector is the largest private investor in research & development.

In addition to a high degree of demagnetization, the automotive industry also requires high productivity, a high level of reliability, system flexibility for changing and reusing various components, and minimal maintenance.

Demagnetizers are used in the automotive industry in injector components, piston rings, synchronous components, and many other components. Due to its huge automotive industry, sales of demagnetizers are expected to surge in the European region.

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Key Segments Covered in the Demagnetizers Industry Survey

  • Demagnetizers Market by Type :

    • Benchtop Demagnetizers
    • Portable Demagnetizers
    • Pen Type
    • Hand-Held
  • Demagnetizers Market by Technology :

    • Coils
    • Capacitive Discharge
    • Permanent Magnets

  • Demagnetizers Market by End-use Industry :

    • Automotive
    • Consumer Electronics
    • Scientific Research
    • Industrial Manufacturing
    • Others

Competitive Landscape

The global demagnetizers market is highly competitive and fragmented because of the presence of numerous regional and global players. Marketing strategies such as redevelopment of products, service-providing technology, and collaborations are being adopted by key players in the market.

Along with this, new product development is also adopted as a strategic approach by companies to expand their presence in the market and garner a wider consumer base.
For instance:

  • Bussi Demagnetizing Systems Company has specialized in the design and construction of electronic impulse and demagnetizers. The company has patented technology and unmatched experience in the sector.
  • Kanetec USA has been at the forefront of magnetic tools and equipment since 1959. Kinetic is established for fabricating higher quality and accuracy equipment.

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Key players in the Demagnetizers Market

  • Bussi Demagnetizing Systems
  • Walmag
  • Kanetec USA
  • EWM AG
  • Monroe
  • Afag
  • Magnetool Inc
  • Industrial Magnetics Inc.

Key Takeaways from Demagnetizers Market Study

  • Portable demagnetizers are likely to capture a market share of 63.7% by the end of 2032.
  • Demand for hand-held demagnetizers is likely to increase at a CAGR of 6.6% over the forecast period of 2022–2032.
  • Capacitive discharge technology is likely to grow 1.9X over the decade.
  • The consumer electronics end-use industry is expected to reach a market valuation of around US$ 555.1 million by 2032.
  • Based on region, demand for demagnetizer is expected to increase at a CAGR of 6.3% in East Asia.

Fact.MR’s Domain Knowledge in Industrial Goods

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods 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 Billion-plus data points, the team has analysed the industrial goods across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

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