Enjoy complimentary customisation on priority with our Enterprise License!
The neodymium magnets market size is estimated to grow by USD 6.69 billion at a CAGR of 8.09% between 2023 and 2028. The growth of the NdFeB magnets market is driven by several key factors, including the increasing focus on renewable energy sources, such as wind and solar power, which require these magnets for use in generators and motors. Additionally, the rise in the production of consumer electronic devices, such as smartphones and electric vehicles, is also driving demand for NdFeB magnets, which are used in speakers, motors, and sensors. Furthermore, the increasing use of NdFeB magnets in the biomedical industry, particularly in medical devices and equipment, is contributing to market growth. These interconnected trends, spanning the renewable energy, consumer electronics, and biomedical sectors, are collectively fueling the expansion of the NdFeB magnets market as manufacturers work to meet the growing demand for these versatile and essential components across a wide range of applications.
_magnets_market_size_abstract_2023_v1.jpg.webp?v4.1.20)
To learn more about this report, View Report Sample
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.