North America Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The North America magnet market size reached 104,382 Metric Tons in 2022. Looking forward, IMARC Group expects the market to reach 123,914 Metric Tons by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.
Magnets stand for objects exhibiting magnetic field which arises from the motion of electric charges. They are generally made up of iron, nickel, cobalt, aluminum and some alloys of rare-earth metals. Magnets have a long shelf-life along with being cost-effective and environment friendly. Owing to this, they are widely used in the electronics, automotive, mining, construction, hardware and healthcare industries.
North America magnet market is currently being driven by several factors. Magnets currently find wide applications in several industries in the region. They are increasingly being employed in various medical systems and applications like MRIs, X-ray and magnetic therapies. Apart from this, the well-developed construction industry utilizes distinctive types of magnetic conveyors, plates, separators, pulleys and grates. Rising environmental concerns have also led to the replacement of fuel-driven vehicles with hybrid electric vehicles fitted with electric magnets, thus stimulating the market growth. The strong growth of wind energy and the consumer electronics sector is also catalyzing the demand of magnets in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the North America magnet market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on magnet type and application
Key Regions Analyzed
United States
Canada
Mexico
Analysis for Each Country
Market by Magnet Type
Ferrite
Neodymium Iron Boron (NdFeB)
Aluminium Nickel Cobalt (AlNiCo)
Samarium Cobalt (SmCo)
Market by Application
Computer HDD (Hard Disk Drives), CD, DVD
Hybrid Electric Vehicles
Electric Bicycles
Heating, Ventilating and Air Conditioners (HVAC)
Wind Turbines
Others
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles
IMARC Group’s latest report provides a deep insight into the North America magnet market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America magnet market in any manner.
Key Questions Answered in This Report:
How has the North America magnet market performed so far and how will it perform in the coming years?
What are the key regions in the North America magnet market?
What has been the impact of COVID-19 on the North America magnet market?
What is the breakup of the North America magnet market on the basis of magnet type?
What is the breakup of the North America magnet market on the basis of application?
What are the various stages in the value chain of the North America magnet industry?
What are the key driving factors and challenges in the North America magnet industry?
What is the structure of the North America magnet industry and who are the key players?
What is the degree of competition in the North America magnet industry?
What are the profit margins in the North America magnet industry?
The North America magnet market size reached 104,382 Metric Tons in 2022. Looking forward, IMARC Group expects the market to reach 123,914 Metric Tons by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.
Magnets stand for objects exhibiting magnetic field which arises from the motion of electric charges. They are generally made up of iron, nickel, cobalt, aluminum and some alloys of rare-earth metals. Magnets have a long shelf-life along with being cost-effective and environment friendly. Owing to this, they are widely used in the electronics, automotive, mining, construction, hardware and healthcare industries.
North America magnet market is currently being driven by several factors. Magnets currently find wide applications in several industries in the region. They are increasingly being employed in various medical systems and applications like MRIs, X-ray and magnetic therapies. Apart from this, the well-developed construction industry utilizes distinctive types of magnetic conveyors, plates, separators, pulleys and grates. Rising environmental concerns have also led to the replacement of fuel-driven vehicles with hybrid electric vehicles fitted with electric magnets, thus stimulating the market growth. The strong growth of wind energy and the consumer electronics sector is also catalyzing the demand of magnets in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the North America magnet market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on magnet type and application
Key Regions Analyzed
United States
Canada
Mexico
Analysis for Each Country
Market by Magnet Type
Ferrite
Neodymium Iron Boron (NdFeB)
Aluminium Nickel Cobalt (AlNiCo)
Samarium Cobalt (SmCo)
Market by Application
Computer HDD (Hard Disk Drives), CD, DVD
Hybrid Electric Vehicles
Electric Bicycles
Heating, Ventilating and Air Conditioners (HVAC)
Wind Turbines
Others
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles
IMARC Group’s latest report provides a deep insight into the North America magnet market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America magnet market in any manner.
Key Questions Answered in This Report:
How has the North America magnet market performed so far and how will it perform in the coming years?
What are the key regions in the North America magnet market?
What has been the impact of COVID-19 on the North America magnet market?
What is the breakup of the North America magnet market on the basis of magnet type?
What is the breakup of the North America magnet market on the basis of application?
What are the various stages in the value chain of the North America magnet industry?
What are the key driving factors and challenges in the North America magnet industry?
What is the structure of the North America magnet industry and who are the key players?
What is the degree of competition in the North America magnet industry?
What are the profit margins in the North America magnet industry?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1Overview
4.2Key Industry Trends
5 GLOBAL PERMANENT MAGNET MARKET
5.1Market Performance
5.2Market Breakup by Magnet Type
5.3Market Breakup by Application
5.4Market Breakup by Region
5.5Market Forecast
6 NORTH AMERICA PERMANENT MAGNET MARKET
6.1Market Performance
6.2Impact of COVID-19
6.3Market Forecast
7 NORTH AMERICA PERMANENT MAGNET MARKET: BREAKUP BY MAGNET TYPE
7.1Ferrite
7.2Neodymium Iron Boron (NdFeB)
7.3Aluminium Nickel Cobalt (AlNiCo)
7.4Samarium Cobalt (SmCo)
8 NORTH AMERICA PERMANENT MAGNET MARKET: BREAKUP BY APPLICATION
8.1Computer HDD (Hard Disk Drives), CD, DVD
8.2Hybrid Electric Vehicles
8.3Electric Bicycles
8.4Heating, Ventilating and Air Conditioners (HVAC)
8.5Wind Turbines
8.6Others
9 NORTH AMERICA PERMANENT MAGNET MARKET: BREAKUP BY COUNTRY
9.1 United States
9.1.1Historical Market Trends
9.1.2Market Breakup by Magnet Type
9.1.3Market Breakup by Application
9.1.4Market Forecast
9.2 Canada
9.2.1Historical Market Trends
9.2.2Market Breakup by Magnet Type
9.2.3Market Breakup by Application
9.2.4Market Forecast
9.3 Mexico
9.3.1Historical Market Trends
9.3.2Market Breakup by Magnet Type
9.3.3Market Breakup by Application
9.3.4Market Forecast
10 SWOT ANALYSIS
10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats
11 VALUE CHAIN ANALYSIS
12 PORTER’S FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Rivalry
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
2 SCOPE AND METHODOLOGY
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1Overview
4.2Key Industry Trends
5 GLOBAL PERMANENT MAGNET MARKET
5.1Market Performance
5.2Market Breakup by Magnet Type
5.3Market Breakup by Application
5.4Market Breakup by Region
5.5Market Forecast
6 NORTH AMERICA PERMANENT MAGNET MARKET
6.1Market Performance
6.2Impact of COVID-19
6.3Market Forecast
7 NORTH AMERICA PERMANENT MAGNET MARKET: BREAKUP BY MAGNET TYPE
7.1Ferrite
7.2Neodymium Iron Boron (NdFeB)
7.3Aluminium Nickel Cobalt (AlNiCo)
7.4Samarium Cobalt (SmCo)
8 NORTH AMERICA PERMANENT MAGNET MARKET: BREAKUP BY APPLICATION
8.1Computer HDD (Hard Disk Drives), CD, DVD
8.2Hybrid Electric Vehicles
8.3Electric Bicycles
8.4Heating, Ventilating and Air Conditioners (HVAC)
8.5Wind Turbines
8.6Others
9 NORTH AMERICA PERMANENT MAGNET MARKET: BREAKUP BY COUNTRY
9.1 United States
9.1.1Historical Market Trends
9.1.2Market Breakup by Magnet Type
9.1.3Market Breakup by Application
9.1.4Market Forecast
9.2 Canada
9.2.1Historical Market Trends
9.2.2Market Breakup by Magnet Type
9.2.3Market Breakup by Application
9.2.4Market Forecast
9.3 Mexico
9.3.1Historical Market Trends
9.3.2Market Breakup by Magnet Type
9.3.3Market Breakup by Application
9.3.4Market Forecast
10 SWOT ANALYSIS
10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats
11 VALUE CHAIN ANALYSIS
12 PORTER’S FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Rivalry
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
LIST OF TABLES
Table 1: North America: Permanent Magnet Market: Key Industry Highlights, 2022 and 2028
Table 2: North America: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2023-2028
Table 3: North America: Permanent Magnet Market Forecast: Breakup by Application (in Metric Tons), 2023-2028
Table 4: North America: Permanent Magnet Market Forecast: Breakup by Country (in Metric Tons), 2023-2028
Table 5: North America: Permanent Magnet Market: Competitive Structure
Table 6: North America: Permanent Magnet Market: Key Players
Table 1: North America: Permanent Magnet Market: Key Industry Highlights, 2022 and 2028
Table 2: North America: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2023-2028
Table 3: North America: Permanent Magnet Market Forecast: Breakup by Application (in Metric Tons), 2023-2028
Table 4: North America: Permanent Magnet Market Forecast: Breakup by Country (in Metric Tons), 2023-2028
Table 5: North America: Permanent Magnet Market: Competitive Structure
Table 6: North America: Permanent Magnet Market: Key Players
LIST OF FIGURES
Figure 1: North America: Permanent Magnet Market: Major Drivers and Challenges
Figure 2: Global: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 3: Global: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 4: Global: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 5: Global: Permanent Magnet Market: Breakup by Region (in %), 2022
Figure 6: Global: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 7: North America: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 8: North America: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 9: North America: Permanent Magnet Industry: SWOT Analysis
Figure 10: North America: Permanent Magnet Industry: Value Chain Analysis
Figure 11: North America: Permanent Magnet Industry: Porter’s Five Forces Analysis
Figure 12: North America: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 13: North America: Permanent Magnet (Ferrite) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 14: North America: Permanent Magnet (Ferrite) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 15: North America: Permanent Magnet (Neodymium Iron Boron) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 16: North America: Permanent Magnet (Neodymium Iron Boron) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 17: North America: Permanent Magnet (Aluminium Nickel Cobalt) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 18: North America: Permanent Magnet (Aluminium Nickel Cobalt) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 19: North America: Permanent Magnet (Samarium Cobalt) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 20: North America: Permanent Magnet (Samarium Cobalt) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 21: North America: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 22: North America: Permanent Magnet (Computer Hard Disk Drives, CD, DVD) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 23: North America: Permanent Magnet (Computer Hard Disk Drives, CD, DVD) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 24: North America: Permanent Magnet (Hybrid Electric Vehicles) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 25: North America: Permanent Magnet (Hybrid Electric Vehicles) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 26: North America: Permanent Magnet (Electric Bicycles) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 27: North America: Permanent Magnet (Electric Bicycles) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 28: North America: Permanent Magnet (Heating, Ventilating and Air Conditioners) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 29: North America: Permanent Magnet (Heating, Ventilating and Air Conditioners) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 30: North America: Permanent Magnet (Wind Turbines) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 31: North America: Permanent Magnet (Wind Turbines) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 32: North America: Permanent Magnet (Other Applications) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 33: North America: Permanent Magnet (Other Applications) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 34: North America: Permanent Magnet Market: Breakup by Country (in %), 2022
Figure 35: United States: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 36: United States: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 37: United States: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 38: United States: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 39: Canada: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 40: Canada: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 41: Canada: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 42: Canada: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 43: Mexico: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 44: Mexico: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 45: Mexico: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 46: Mexico: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 1: North America: Permanent Magnet Market: Major Drivers and Challenges
Figure 2: Global: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 3: Global: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 4: Global: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 5: Global: Permanent Magnet Market: Breakup by Region (in %), 2022
Figure 6: Global: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 7: North America: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 8: North America: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 9: North America: Permanent Magnet Industry: SWOT Analysis
Figure 10: North America: Permanent Magnet Industry: Value Chain Analysis
Figure 11: North America: Permanent Magnet Industry: Porter’s Five Forces Analysis
Figure 12: North America: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 13: North America: Permanent Magnet (Ferrite) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 14: North America: Permanent Magnet (Ferrite) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 15: North America: Permanent Magnet (Neodymium Iron Boron) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 16: North America: Permanent Magnet (Neodymium Iron Boron) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 17: North America: Permanent Magnet (Aluminium Nickel Cobalt) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 18: North America: Permanent Magnet (Aluminium Nickel Cobalt) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 19: North America: Permanent Magnet (Samarium Cobalt) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 20: North America: Permanent Magnet (Samarium Cobalt) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 21: North America: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 22: North America: Permanent Magnet (Computer Hard Disk Drives, CD, DVD) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 23: North America: Permanent Magnet (Computer Hard Disk Drives, CD, DVD) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 24: North America: Permanent Magnet (Hybrid Electric Vehicles) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 25: North America: Permanent Magnet (Hybrid Electric Vehicles) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 26: North America: Permanent Magnet (Electric Bicycles) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 27: North America: Permanent Magnet (Electric Bicycles) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 28: North America: Permanent Magnet (Heating, Ventilating and Air Conditioners) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 29: North America: Permanent Magnet (Heating, Ventilating and Air Conditioners) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 30: North America: Permanent Magnet (Wind Turbines) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 31: North America: Permanent Magnet (Wind Turbines) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 32: North America: Permanent Magnet (Other Applications) Market: Volume Trends (in Metric Tons), 2017 & 2022
Figure 33: North America: Permanent Magnet (Other Applications) Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 34: North America: Permanent Magnet Market: Breakup by Country (in %), 2022
Figure 35: United States: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 36: United States: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 37: United States: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 38: United States: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 39: Canada: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 40: Canada: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 41: Canada: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 42: Canada: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 43: Mexico: Permanent Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 44: Mexico: Permanent Magnet Market: Breakup by Magnet Type (in %), 2022
Figure 45: Mexico: Permanent Magnet Market: Breakup by Application (in %), 2022
Figure 46: Mexico: Permanent Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
