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The permanent magnets market is projected to grow by USD 12.79 billion, at a compound annual growth rate (CAGR) of 8.37% between 2023 and 2028. The growth of the permanent magnet market is fueled by the increasing utilization of storage technology, particularly in renewable energy sector such as wind power. These magnets, including their ferrite material segment, play a vital role in energy storage systems, offering compactness, lightness, and cost-effectiveness. Advancements in supply chains and production units optimize market performance and product quality, catering to various sectors like consumer goods & electronics and the automotive segment. Moreover, they ensure stability, reliability, and swift response times, enabling seamless integration of renewable energy sources into power grids. Market expansion is further influenced by AI simulations, revolutionizing magnetic material design, thus reducing time, effort, and expenses associated with physical fabrication and testing.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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