- FMA
- The Fabricator
- FABTECH
- Canadian Metalworking
Categories
- Additive Manufacturing
- Aluminum Welding
- Arc Welding
- Assembly and Joining
- Automation and Robotics
- Bending and Forming
- Consumables
- Cutting and Weld Prep
- Electric Vehicles
- En Español
- Finishing
- Hydroforming
- Laser Cutting
- Laser Welding
- Machining
- Manufacturing Software
- Materials Handling
- Metals/Materials
- Oxyfuel Cutting
- Plasma Cutting
- Power Tools
- Punching and Other Holemaking
- Roll Forming
- Safety
- Sawing
- Shearing
- Shop Management
- Testing and Measuring
- Tube and Pipe Fabrication
- Tube and Pipe Production
- Waterjet Cutting
Industry Directory
Webcasts
Podcasts
FAB 40
Advertise
Subscribe
Account Login
Search
Growth in auto industry to drive demand for permanent magnets
- January 29, 2014
- News Release
- Shop Management
The global market for permanent magnets is expected to reach $31.18 billion by 2020, driven in part by growth in the global automobile industry, according to a new study, “Permanent Magnets Industry Trends and Market Segment Forecasts to 2020,” by Grand View Research Inc., San Francisco. Permanent magnets are used in numerous automotive components, including motors, alternators, and gearboxes.
While the automotive industry emerged as the leading application market for permanent magnets and accounted for about half of the total consumption in 2012, energy generation, such as wind energy, is expected to be the fastest-growing application market, with an estimated compound annual growth rate of 9 percent from 2013 to 2020.
Ferrite magnets dominated the global market in 2012, accounting for more than 80 percent of total volume. However, in terms of revenue, ferrite magnets accounted for just more than 20 percent of the total revenue for the same year because of their lower cost. Neodymium magnets are expected to be the fastest-growing product segment, at an estimated CAGR of 9.4 percent from 2013 to 2020.
The Asia Pacific region dominated the overall market for permanent magnets, accounting for 80 percent of the total consumption in 2012. China accounted for 65 percent of world demand for that year.
The report is available to customers of Grand View Research, a market research and consulting company that provides customized research reports and consulting services, at www.grandviewresearch.com/industry-analysis/permanent-magnets-industry.
subscribe now
The Fabricator is North America's leading magazine for the metal forming and fabricating industry. The magazine delivers the news, technical articles, and case histories that enable fabricators to do their jobs more efficiently. The Fabricator has served the industry since 1970.
start your free subscription- Stay connected from anywhere
Easily access valuable industry resources now with full access to the digital edition of The Fabricator.
Easily access valuable industry resources now with full access to the digital edition of The Welder.
Easily access valuable industry resources now with full access to the digital edition of The Tube and Pipe Journal.
Easily access valuable industry resources now with full access to the digital edition of The Fabricator en Español.
- Podcasting
- Podcast:
- The Fabricator Podcast
- Published:
- 04/16/2024
- Running Time:
- 63:29
In this episode of The Fabricator Podcast, Caleb Chamberlain, co-founder and CEO of OSH Cut, discusses his company’s...
- Trending Articles
Tips for creating sheet metal tubes with perforations
Supporting the metal fabricating industry through FMA
JM Steel triples capacity for solar energy projects at Pennsylvania facility
Fabricating favorite childhood memories
Omco Solar opens second Alabama manufacturing facility
- Industry Events
16th Annual Safety Conference
- April 30 - May 1, 2024
- Elgin,
Pipe and Tube Conference
- May 21 - 22, 2024
- Omaha, NE
World-Class Roll Forming Workshop
- June 5 - 6, 2024
- Louisville, KY
Advanced Laser Application Workshop
- June 25 - 27, 2024
- Novi, MI