The global magnets market is expected to witness significant growth in the coming years, according to industry experts. Increased demand for magnets in various industries, such as automotive, electronics, and energy, is driving the market growth. Magnets are used in motors, generators, turbines, and various electronic devices, making them an essential component in these sectors. Furthermore, the growing adoption of electric vehicles and renewable energy sources is expected to fuel the market further. However, fluctuations in raw material prices and environmental concerns regarding the mining and manufacturing processes may hinder the market’s growth to some extent..
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The Global Magnets Market Size, Scope, and Forecast 2023-2029 report has been added to the Market research collection of Market Intelligence Data Reports. Industry experts and researchers have offered an authoritative and concise analysis of the Magnets Market with respect to various aspects such as growth factors, challenges, restraints, developments, and opportunities for growth. This report provides a pin-point analysis of changing dynamics and emerging trends in the Magnets Market. Additionally, it provides a futuristic perspective on various factors that are likely to fuel the growth of the Worldwide Magnets Market in the coming years.
The global Magnets market is expected to grow at a +8.7% CAGR in terms of revenue over the forecast period from 2023 to 2029, owing to a number of variables about which market intelligence data Research provides detailed insights and projections in the Magnets market research.
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Some of the key players profiled in the study are Hitachi Metals(Japan), Daido Steel(Japan), TDK(Japan), Shin-etsu Chemical(Japan), Arnold Magnetic(U.S.), Lynas Corporation(Australia), Electron Energy(U.S.), Tengam Engineering(U.S.), Adams Magnetic(U.S.), Bunting Magnetics(U.S.) and other Prominent players.
Hitachi Energy launches advanced power system factory
Hitachi Energy opened a new factory in Chennai focused on high-voltage direct current (HVDC) and power quality solutions. The factory will produce advanced power electronics for HVDC Light(R), HVDC Classic, and STATCOM, in addition to the MACH control and protection system, which supports transmission and power quality solutions. These solutions are essential for integrating renewable energy and stabilizing electrical grids, making the factory a significant part of the energy transition acceleration effort. It will increase Hitachi Energy’s production capacity and provide advanced solutions to both the Indian market and the global demand for renewable energy solutions.
Competition is an important issue in any market research analysis. With the help of the competitive analysis provided in the report, players can easily study the key strategies employed by leading players in the Magnets market. The major and emerging players of the Magnets Market are closely studied considering their market share, production, sales, revenue growth, gross margin, product portfolio, and other important factors. This will help players familiarize themselves with the movements of their toughest competitors in the Magnets market.
The segmental analysis section of the report includes a thorough research study on key type and application segments of the Magnets market
Magnets Market (By Types)
Neodymium
Ferrite
Samarium Cobalt
Alnico
Magnets Market (By Application)
Electronics
Industrial
Automotive
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Important years considered in the Magnets study:
Historical year – 2017-2021;
Base year – 2023;
Forecast period** – 2023 to 2029 [** unless otherwise stated]
If opting for the Global version of Magnets Market; then the below country analysis would be included:
– North America (the USA, Canada, and Mexico)
– Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland, and the Rest of Europe)
– Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia, and the Rest of APAC)
– South America (Brazil, Argentina, Chile, Colombia, the Rest of the countries, etc.)
– the Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)
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Reasons to Procure this Report:
- The research would help top administration/policymakers/professionals/product advancements/sales managers and stakeholders in this market in the following ways.
- The report provides Magnets market revenues at the worldwide, regional, and country levels with a complete analysis to 2029 permitting companies to analyze their market share and analyze projections, and find new markets to aim for.
- The research includes the Magnets market split by different types, applications, technologies, and end-uses. This segmentation helps leaders plan their products and finances based on the upcoming development rates of each segment.
- Magnets market analysis benefits investors by knowing the scope and position of the market giving them information on key drivers, challenges, restraints, and expansion chances of the market and moderate threats.
- This report would help to understand competition better with a detailed analysis and key strategies of their competitors and plan their position in the business.
- The study helps evaluate Magnets business predictions by region, key countries, and top companies’ information to channel their investments.
What is new in 2023?
Major developments that can change the business landscape as well as market forecasts.
Addition/refinement in segmentation-Increase in depth or width of segmentation of the market.
Coverage of new market players and change in the market share of existing players of the Magnets market.
Updated financial information and product portfolios of players operating in the Magnets market.
Updated market developments of the profiled players.
Any new data points/analysis (frameworks) which was not present in the previous version of the report
The new edition of the report consists of trends/disruptions on customer’s business, tariff and regulatory landscape, pricing analysis, and a market ecosystem map to enable a better understanding of the market dynamics for Magnets.
Customization services available with the report:
-20% customization.
-Five Countries can be added as per your choice.
-Five Companies can added as per your choice.
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COMTEX_439398708/2599/2023-09-02T00:07:03
The global magnets market is expected to grow at a CAGR of 8.7% from 2023 to 2029, according to a report by Market Intelligence Data. The report provides a comprehensive analysis of the market, including growth factors, challenges, developments, and opportunities. It also profiles key players in the market, such as Hitachi Metals, TDK, and Lynas Corporation. The report highlights the importance of competition analysis, allowing players to study the strategies of their competitors. Additionally, the report includes a segmental analysis of the market based on type and application. The research aims to provide high-quality, customized, and reliable data to enable informed decision-making.
Hashtags: #Magnets #Market #Future #Demand #industry #Analysis #Outlook #upto
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