Rare Earth Magnets for Electric Vehicle Market Key Highlights:
- Market Size (2023): USD 2,777 Million
- Projected Market Size (2034): USD 9,794 Million
- CAGR (2023-2034): 12.14%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies adopted by various manufacturers.
Rare Earth Magnets for Electric Vehicle Market Definition
The rare earth magnets for electric vehicle (EV) market deals with excavating and manufacturing components used in electric vehicles. Rare earth magnets are crucial in running electric vehicles, contributing to higher performance and efficiency. Demand for neodymium-iron-boron (NdFeB) magnets is driven by the growing popularity of electric vehicles worldwide. A global push towards environmentally friendly alternatives to combustion engines in cars and trucks is spurring demand in the sector. Increasing government subsidies around the manufacturing of electric vehicles is also leading to growth.
The scarcity of rare earth materials (as their name suggests) and the lack of established supply chains is restricting growth in the market. Heavy metals' environmental impact and long-term hazards have led to regulatory restrictions around their mining. Despite this, innovations in recycling technology and the development of alternatives are expected to address supply chain disruptions and lead to significant growth in the market. A growing expected demand for electric vehicles is also expected to contribute to the growth of rare earth magnets for the electric vehicle (EV) market.
Rare Earth Magnets for Electric Vehicle Market Segmentation:
By Type
- Sintered Neodymium Magnet
- Bonded Neodymium Magnet
- Other
By Application
- Passenger Care
- Commercial Vehicle
Rare Earth Magnets for Electric Vehicle Market Companies:
- Hitachi Metals Group
- Shin-Etsu
- TDK
- VAC
- Beijing Zhong Ke San Huan Hi-Tech
- Yunsheng Company
- YSM
- JL MAG
- ZHmag
- Jingci Material Science
- AT&M
- NBJJ
- Innuovo Magnetics
- SGM
- Zhejiang Zhongyuan Magnetic
- Earth- Panda
- Daido Electronics
- Tianhe Magnetics
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