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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 value of US$ 20,349 Million in 2019 and is further expected to reach US$ 28,866 Million by 2025. 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
- Advanced Technology & Materials Co., Ltd
- Beijing Zhong Ke San Huan High-Tech Co., Ltd
- BGRIMM Magnetic Materials & Technology Co., Ltd.
- Adams Magnetic Products Corporation
- Arnold Magnetic Technologies Corporation
- Bunting Magnetics Corporation
- Jiashan Pengcheng Magnets Co., Ltd
- Hitachi Metals America Ltd.
- Magnetics, Inc.
- Master Magnetics, Inc.
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