Moreover, as compared to other energy storage devices, permanent magnet does not perform any network on its surroundings due to which its performance is not affected by repeated usage. Owing to the aforementioned characteristics, it finds numerous applications across various industries.
According to a new report by Expert Market Research, the global permanent magnets market reached a consumption volume of 1059 Thousand Tons in 2020 and is further expected to reach 1289 Thousand Tons by 2026. Over the past several years, the demand for permanent magnets has accelerated as usage of energy-efficient technology and devices has been on a rise. Some of the other factors that have further added to the market growth include its expanding applications, focus on reduction of carbon footprint, advancements in information and communication technology and infrastructural developments in emerging markets.
Key findings from the report:
Click here for summary of the report: https://www.expertmarketresearch.com/reports/permanent-magnets-market
Expert Market Research has analysed the global permanent magnets market according to type, end-use, major regions and top players:
Market breakup by Type
- Neodymium Iron Boron
- Aluminium Nickel Cobalt
- Samarium Cobalt
Market breakup by End-use
- Data Storage Devices (HDD, CD and DVD)
- Hybrid Electric Vehicles
- Electric Bicycles
- Heating, Ventilating and Air Conditioners (HVAC)
- Wind Turbine
Market breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Adams Magnetic Products Corporation
- Arnold Magnetic Technologies Corporation
- The Bunting® Magnetics Co.
- Advanced Technology & Materials Co., Ltd. (AT&M)
- Hitachi Metals America Ltd.
- Industrial Magnetics, Inc.
- MASTER MAGNETICS, Inc.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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