Nowadays, permanent magnets can be used in more and more places, such as our most common headphones (headphone speakers), mobile phones, cars and other items that we touch in our lives, but have you ever discovered that magnets are actually Are sales increasing every year? Because many trams now contain many magnets! And now the brand that best represents pure electric vehicles is definitely Tesla.

In the first half of 2023, global electric vehicle sales increased by49% to 6.2 millionvehicles, of which the mainland China market accounted for55%of the market share, with sales reaching3.4 millionvehicles. Beyond this, Europe is now the world's second-largest EV market, with a24%share and1.5 millionunits shipped. In Europe, the adoption rate of electric vehicles has increased significantly, with a year-on-year growth rate of34%, a significant leap compared with9%in the first half of 2022; the United States accounted for13%of the market share, with sales of815,000vehicles in the first half, a year-on-year growth rate It was97%, up from62%in the first half of 2022.

You can know from the above data that the sales volume of electric cars is getting higher and higher, which means that the market for permanent magnets required is also getting bigger and bigger, but you may not know that in fact, all the motors in the car contain Magnet or permanent magnet/NdFeB magnet

(Vehicle Parts That Have Use The Permanent Magnet)

Do you know where the largest market for permanent magnet magnets is?

I believe many people have an answer in mind, that is Asia! Because Asia is a manufacturing region! Based on 2022 data, permanent magnets account for76%of the Asian market. China, Japan and South Korea have become popular centers for manufacturing computer hardware equipment including hard drives, computer chips microprocessors, motors, automobiles, etc. This has resulted in rising demand for permanent magnets, which are widely consumed by manufacturers of electronics, hardware, and automobiles.

(Source By Grand view research)

As I said above, permanent magnets are mainly used in electronics, followed by automobiles. In the electronics industry, many places such as headphones, mobile phones, cameras, motors, etc. require permanent magnets. Taking headphones as an example, I believe everyone will own one or more of them. There are many more things in mobile phones, such as earpieces, speakers, and even now wireless charging. It actually contains permanent magnets! The same goes for medical treatment! Take MRI as an example. From this, we know that permanent magnets are used in many scenes in today's society. What is the forecast for the future permanent magnet magnet market?

(Source By Grand view research)

Future permanent magnet magnet sales forecast:

The U.S. auto industry has grown steadily since the economic collapse of 2008-09. The country has seen a huge rise in the adoption of plug-in electric vehicles, driven primarily by premium offerings from major players such as Tesla, Chevrolet, Nissan, Ford, Audi and BMW. In early 2018, Tesla became one of several electric car manufacturers to use media magnets. This means that more and more magnets will be used in the future! From 2023 to 2030, the global permanent magnet market size was valued atUSD 20.58 billionin 2022 and is expected to grow at a compound growth rate (CAGR) of8.6%. It is expected to actively aid the market growth during the forecast period. Currently, permanent magnets are used in wind turbine generators to increase their efficiency. Rare earth magnets, such as neodymium iron boron magnets (NdFeB)

(Source By Grand view research)

I believe that after reading this blog, you will know that the market for permanent magnets or NdFeB magnets will become bigger and bigger, because we can no longer do without the convenience that magnets bring us. After all, the places where magnets are used are There are many. So if you need to order magnets, you can contact us at AIM Magnet.