The EV magnet market is estimated at USD 5.3 billion in 2025 and is projected to reach USD 9.5 billion by 2030, growing at a CAGR of 12.4% during the forecast period. This growth is driven by the rapid global adoption of electric vehicles, increasing government incentives for vehicle electrification, and stringent emissions regulations accelerating the transition from internal combustion engines to electric drivetrains. Rising demand for high-performance permanent magnets, particularly rare-earth magnets such as neodymium-iron-boron (NdFeB), in traction motors is significantly contributing to market expansion. Advancements in motor efficiency, increased investments in EV manufacturing capacity, and the expansion of charging infrastructure across key regions, including Asia Pacific, Europe, and North America, are further supporting market growth. However, supply chain constraints related to rare-earth materials and price volatility may influence market dynamics during the forecast period.
“Electric buses & trucks accounted for largest share of overall EV magnet market in 2024”
In 2024, the electric buses & trucks segment accounted for the largest share of the overall EV magnet market by value, supported by strong global production and adoption trends that drove high demand for large traction motors with substantial magnet content. In 2023, nearly 50,000 electric buses were sold worldwide, bringing the global fleet to around 635,000 units. By 2024, the number of electric buses in operation reached approximately 780,000 units, with China alone representing almost 90% of the total fleet, underscoring the scale of production and deployment across key markets. Chinese manufacturers also exported over 15,000 new energy buses in 2024, reflecting expanding global supply, while Europe saw 22% growth in electric city bus registrations, reaching about 7,779 units in 2024, indicating robust regional growth outside Asia. These production and adoption figures highlight why electric buses & trucks dominated the EV magnet market in 2024, as their larger size and torque requirements translate into higher volumes of EV magnets per vehicle compared to other EV types.
“In terms of value, the low-power motor (<60 KW) segment accounted for the second-largest share of the overall EV magnet market in 2024.”
In 2024, the low-power motors (<60 kW) segment accounted for the second-largest share of the overall EV magnet market, supported by high production volumes of compact passenger electric vehicles, electric two-wheelers, and hybrid vehicles that typically operate within this power range. These motors are widely used in entry-level battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and light commercial vehicles, particularly in emerging economies where affordability and efficiency are key purchasing factors. Rapid growth in urban mobility solutions, rising demand for small city cars, and increasing electrification of two- and three-wheelers across the Asia Pacific region have significantly contributed to magnet demand in this segment.
“In terms of value, control & sensing systems application segment expected to register highest CAGR during forecast period”
In terms of value, the control & sensing systems application segment is expected to post the highest CAGR during the forecast period, driven by the growing integration of advanced electronic architectures and precision control mechanisms in electric vehicles. As EV platforms become more software-defined and power-electronics-intensive, demand for magnetic components in position, speed, and current sensors, resolvers, and battery management systems (BMS) is rising significantly. These systems rely on high-performance magnets to ensure accurate motor control, torque optimization, thermal management, and energy efficiency.
Adoption of advanced driver-assistance systems (ADAS), regenerative braking technologies, and intelligent power distribution units is accelerating the use of magnet-based sensing solutions. The shift toward higher-voltage architectures (400V and 800V systems) and enhanced safety standards is also increasing demand for reliable, precise magnetic sensing components. As automakers focus on improving vehicle efficiency, performance, and real-time monitoring capabilities, the control & sensing systems segment is projected to experience robust value growth throughout the forecast period.
“North America accounted for the second-largest share of the overall EV magnet market in 2024.”
North America accounted for the second-largest share of the global EV magnet market in 2024, supported by the region’s growing electric-vehicle manufacturing base and strong electrification initiatives across the US and Canada. The North American EV market continues to expand, with the US accounting for around 84% of the region’s EV market share in 2024, driven by federal incentives, state-level policies, and increasing EV model availability from both domestic and foreign OEMs. In 2024, electric-vehicle sales and production in North America remained significant, with the US projected to see continued growth in EV registrations and manufacturing output as automakers scale production of battery-electric and plug-in-hybrid models. This scale has bolstered demand for EV magnets used in traction motors and powertrain components, contributing to the region’s substantial value share in the global EV magnet market.
This study has been validated through primary interviews with industry experts globally. The primary sources have been divided into the following three categories:
• By Company Type: Tier 1 - 40%, Tier 2 - 33%, and Tier 3 - 27%
• By Designation: C-level - 50%, Director-level - 30%, and Managers - 20%
• By Region: North America - 15%, Europe - 50%, Asia Pacific - 20%, the Middle East & Africa - 10%, and Latin America - 5%
The report provides a comprehensive analysis of the following companies:
Prominent companies in this market include Proterial Ltd. (Japan), TDK Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Vacuumschmelze GmbH & Co. KG (Germany), JL Mag Rare-Earth Co., Ltd. (China), Beijing Zhong Ke San Huan High-Tech Co., Ltd. (China), Ningbo Yunsheng Co., Ltd. (China), Arnold Magnetic Technologies (US), Yantai Dongxing Magnetic Materials Inc. (China), Baotou Tianhe Magnetic Technology Co., Ltd. (China), Adams Magnetic Products, LLC (US), Bunting Magnetics Co. (US), and others.
Research Coverage
This research report categorizes the EV magnet market by magnet type (NDFEB, SMCO, AINICO, ferrite), vehicle type (passenger EVs, electric buses & trucks), application (electric motor cores & drive motors, powertrain components, battery & charging subsystems, control & sensing systems), power rating (low, medium, high), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The scope of the report includes detailed information on the major factors influencing the growth of the EV magnet market, such as drivers, restraints, challenges, and opportunities. A comprehensive examination of key industry players has been conducted to provide insights into their business overview, solutions and services, key strategies, and recent developments in the EV magnet market. This report also includes a competitive analysis of upcoming startups in the EV magnet market ecosystem.
Reasons to buy this report
The report will provide market leaders and new entrants with estimates of revenue for the overall EV magnet market and its subsegments. It will help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights into the following:
• Analysis of key drivers (rising EV production and higher magnet intensity in PMSM traction motors), restraints (rare earth price volatility and supply concentration), opportunities (magnet recycling and rare earth light technologies), and challenges (supply chain localization outside China) influencing the growth of the EV magnet market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the EV magnet market
• Market Development: Comprehensive information about lucrative markets - the report analyzes the EV magnet market across varied regions
• Market Diversification: Exhaustive information about services, untapped geographies, recent developments, and investments in the EV magnet market
• Competitive Assessment: In-depth assessment of market share, growth strategies, and product offerings of leading players such as Proterial Ltd. (Japan), TDK Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Vacuumschmelze GmbH & Co. KG (Germany), JL Mag Rare-Earth Co., Ltd. (China), Beijing Zhong Ke San Huan High-Tech Co., Ltd. (China), Ningbo Yunsheng Co., Ltd. (China), Arnold Magnetic Technologies (US), Yantai Dongxing Magnetic Materials Inc. (China), Baotou Tianhe Magnetic Technology Co., Ltd. (China), Adams Magnetic Products, LLC (US), Bunting Magnetics Co. (US), Magnequench International, LLC. (Singapore), Daido Steel Co., Ltd. (Japan), Goudsmit Magnetics (Netherlands), Eclipse Magnetics (UK), Earth-Panda Advanced Magnetic Material Co., Ltd. (China), among others, in the EV magnet market.
圖表清單 List of Tables & Figures
TABLE 1 EV MAGNET MARKET: IMPACT OF PORTER’S FIVE FORCES 44
TABLE 2 GDP PERCENTAGE CHANGE, BY KEY COUNTRY, 2021–2029 46
TABLE 3 EV MAGNET MARKET: ROLE OF COMPANIES IN ECOSYSTEM 50
TABLE 4 AVERAGE SELLING PRICE OF EV MAGNETS IN TOP APPLICATIONS, BY KEY PLAYER, 2024 (USD/KG) 51
TABLE 5 AVERAGE SELLING PRICE TREND OF EV MAGNET, BY REGION,
2023–2024 (USD/KG) 51
TABLE 6 IMPORT DATA FOR HS CODE 850519-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD MILLION) 52
TABLE 7 EXPORT DATA FOR HS CODE 850519-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD MILLION) 53
TABLE 8 EV MAGNET MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2026–2027 54
TABLE 9 US-ADJUSTED RECIPROCAL TARIFF RATES 58
TABLE 10 KEY PRODUCT-RELATED TARIFFS EFFECTIVE FOR PERMANENT MAGNETS 59
TABLE 11 EXPECTED CHANGE IN PRICES AND IMPACT ON END-USE MARKET DUE TO TARIFFS 59
TABLE 12 EV MAGNET MARKET: TOTAL NUMBER OF PATENTS, 2015–2025 70
TABLE 13 TOP USE CASES AND MARKET POTENTIAL 76
TABLE 14 BEST PRACTICES: USE CASES OF COMPANIES IMPLEMENTING AI 76
TABLE 15 EV MAGNET MARKET: CASE STUDIES RELATED TO AI IMPLEMENTATION 77
TABLE 16 INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS 77
TABLE 17 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
TABLE 18 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
TABLE 19 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 20 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 81
TABLE 21 GLOBAL STANDARDS IN EV MAGNET MARKET 81
TABLE 22 CERTIFICATIONS, LABELING, ECO-STANDARDS IN EV MAGNET MARKET 83
TABLE 23 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END-USE INDUSTRY (%) 85
TABLE 24 KEY BUYING CRITERIA, BY END-USE INDUSTRY 86
TABLE 25 UNMET NEEDS IN EV MAGNET MARKET, BY END-USE INDUSTRY 88
TABLE 26 EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (USD MILLION) 91
TABLE 27 EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (KILOTON) 92
TABLE 28 NDFEB: EV MAGNET MARKET, BY REGION, 2023–2030 (USD MILLION) 92
TABLE 29 NDFEB: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 93
TABLE 30 SMCO: EV MAGNET MARKET, BY REGION, 2023–2030 (USD MILLION) 93
TABLE 31 SMCO: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 94
TABLE 32 ALNICO: EV MAGNET MARKET, BY REGION, 2023–2030 (USD MILLION) 94
TABLE 33 ALNICO: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 95
TABLE 34 FERRITE: EV MAGNET MARKET, BY REGION, 2023–2030 (USD MILLION) 95
TABLE 35 FERRITE: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 96
TABLE 36 OTHER TYPES: EV MAGNET MARKET, BY REGION, 2023–2030 (USD MILLION) 96
TABLE 37 OTHER TYPES: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 97
TABLE 38 EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (USD MILLION) 99
TABLE 39 EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (KILOTON) 100
TABLE 40 PASSENGER EVS: EV MAGNET MARKET, BY REGION, 2023–2030 (USD MILLION) 100
TABLE 41 PASSENGER EVS: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 101
TABLE 42 ELECTRIC BUSES & TRUCKS: EV MAGNET MARKET, BY REGION,
2023–2030 (USD MILLION) 101
TABLE 43 ELECTRIC BUSES & TRUCKS: EV MAGNET MARKET, BY REGION,
2023–2030 (KILOTON) 102
TABLE 44 OTHER VEHICLE TYPES: EV MAGNET MARKET, BY REGION,
2023–2030 (USD MILLION) 102
TABLE 45 OTHER VEHICLE TYPES: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 103
TABLE 46 EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 105
TABLE 47 EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 106
TABLE 48 EV MAGNET MARKET IN ELECTRIC MOTOR CORES & DRIVE MOTORS APPLICATION, BY REGION, 2023–2030 (USD MILLION) 107
TABLE 49 EV MAGNET MARKET IN ELECTRIC MOTOR CORES & DRIVE MOTORS APPLICATION, BY REGION, 2023–2030 (KILOTON) 107
TABLE 50 EV MAGNET MARKET IN POWERTRAIN COMPONENTS APPLICATION, BY REGION, 2023–2030 (USD MILLION) 108
TABLE 51 EV MAGNET MARKET IN POWERTRAIN COMPONENTS APPLICATION, BY REGION, 2023–2030 (KILOTON) 108
TABLE 52 EV MAGNET MARKET IN BATTERY & CHARGING SYSTEMS APPLICATION,
BY REGION, 2023–2030 (USD MILLION) 109
TABLE 53 EV MAGNET MARKET IN BATTERY & CHARGING SYSTEMS APPLICATION,
BY REGION, 2023–2030 (KILOTON) 109
TABLE 54 EV MAGNET MARKET IN CONTROL & SENSING SYSTEMS APPLICATION, BY REGION, 2023–2030 (USD MILLION) 110
TABLE 55 EV MAGNET MARKET IN CONTROL & SENSING SYSTEMS APPLICATION, BY REGION, 2023–2030 (KILOTON) 111
TABLE 56 EV MAGNET MARKET IN OTHER APPLICATIONS, BY REGION,
2023–2030 (USD MILLION) 111
TABLE 57 EV MAGNET MARKET IN OTHER APPLICATIONS, BY REGION,
2023–2030 (KILOTONS) 112
TABLE 58 EV MAGNET MARKET, BY POWER RATING, 2023–2030 (USD MILLION) 114
TABLE 59 EV MAGNET MARKET, BY POWER RATING, 2023–2030 (KILOTON) 115
TABLE 60 LOW-POWER MOTORS: EV MAGNET MARKET, BY REGION,
2023–2030 (USD MILLION) 115
TABLE 61 LOW-POWER MOTORS: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 116
TABLE 62 MEDIUM-POWER MOTORS: EV MAGNET MARKET, BY REGION,
2023–2030 (USD MILLION) 116
TABLE 63 MEDIUM-POWER MOTORS: EV MAGNET MARKET, BY REGION,
2023–2030 (KILOTON) 117
TABLE 64 HIGH-POWER MOTORS: EV MAGNET MARKET, BY REGION,
2023–2030 (USD MILLION) 117
TABLE 65 HIGH-POWER MOTORS: EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 118
TABLE 66 EV MAGNET MARKET, BY REGION, 2023–2030 (USD MILLION) 120
TABLE 67 EV MAGNET MARKET, BY REGION, 2023–2030 (KILOTON) 121
TABLE 68 NORTH AMERICA: EV MAGNET MARKET, BY MAGNET TYPE,
2023–2030 (USD MILLION) 122
TABLE 69 NORTH AMERICA: EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (KILOTON) 123
TABLE 70 NORTH AMERICA: EV MAGNET MARKET, BY POWER RATING,
2023–2030 (USD MILLION) 123
TABLE 71 NORTH AMERICA: EV MAGNET MARKET, BY POWER RATING,
2023–2030 (KILOTON) 123
TABLE 72 NORTH AMERICA: EV MAGNET MARKET, BY VEHICLE TYPE,
2023–2030 (USD MILLION) 124
TABLE 73 NORTH AMERICA: EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (KILOTON) 124
TABLE 74 NORTH AMERICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 124
TABLE 75 NORTH AMERICA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 125
TABLE 76 NORTH AMERICA: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (USD MILLION) 125
TABLE 77 NORTH AMERICA: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (KILOTON) 125
TABLE 78 US: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 126
TABLE 79 US: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 126
TABLE 80 CANADA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 127
TABLE 81 CANADA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 127
TABLE 82 EUROPE: EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (USD MILLION) 129
TABLE 83 EUROPE: EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (KILOTON) 129
TABLE 84 EUROPE: EV MAGNET MARKET, BY POWER RATING, 2023–2030 (USD MILLION) 129
TABLE 85 EUROPE: EV MAGNET MARKET, BY POWER RATING, 2023–2030 (KILOTON) 130
TABLE 86 EUROPE: EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (USD MILLION) 130
TABLE 87 EUROPE: EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (KILOTON) 130
TABLE 88 EUROPE: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 131
TABLE 89 EUROPE: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 131
TABLE 90 EUROPE: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (USD MILLION) 131
TABLE 91 EUROPE: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (KILOTON) 132
TABLE 92 GERMANY: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 132
TABLE 93 GERMANY: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 133
TABLE 94 FRANCE: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 133
TABLE 95 FRANCE: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 134
TABLE 96 UK: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 134
TABLE 97 UK: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 135
TABLE 98 SPAIN: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 135
TABLE 99 SPAIN: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 136
TABLE 100 ITALY: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 136
TABLE 101 ITALY: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 137
TABLE 102 REST OF EUROPE: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 137
TABLE 103 REST OF EUROPE: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 138
TABLE 104 ASIA PACIFIC: EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (USD MILLION) 139
TABLE 105 ASIA PACIFIC: EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (KILOTON) 140
TABLE 106 ASIA PACIFIC: EV MAGNET MARKET, BY POWER RATING,
2023–2030 (USD MILLION) 140
TABLE 107 ASIA PACIFIC: EV MAGNET MARKET, BY POWER RATING, 2023–2030 (KILOTON) 140
TABLE 108 ASIA PACIFIC: EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (USD MILLION) 141
TABLE 109 ASIA PACIFIC: EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (KILOTON) 141
TABLE 110 ASIA PACIFIC: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 141
TABLE 111 ASIA PACIFIC: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 142
TABLE 112 ASIA PACIFIC: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (USD MILLION) 142
TABLE 113 ASIA PACIFIC: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (KILOTON) 142
TABLE 114 CHINA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 143
TABLE 115 CHINA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 143
TABLE 116 JAPAN: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 144
TABLE 117 JAPAN: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 144
TABLE 118 INDIA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 145
TABLE 119 INDIA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 145
TABLE 120 SOUTH KOREA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 146
TABLE 121 SOUTH KOREA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 146
TABLE 122 REST OF ASIA PACIFIC: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 147
TABLE 123 REST OF ASIA PACIFIC: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (KILOTON) 147
TABLE 124 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY MAGNET TYPE,
2023–2030 (USD MILLION) 148
TABLE 125 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY MAGNET TYPE,
2023–2030 (KILOTON) 148
TABLE 126 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY POWER RATING,
2023–2030 (USD MILLION) 149
TABLE 127 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY POWER RATING,
2023–2030 (KILOTON) 149
TABLE 128 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY VEHICLE TYPE,
2023–2030 (USD MILLION) 149
TABLE 129 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY VEHICLE TYPE,
2023–2030 (KILOTON) 150
TABLE 130 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 150
TABLE 131 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (KILOTON) 150
TABLE 132 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY COUNTRY,
2023–2030 (USD MILLION) 151
TABLE 133 MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY COUNTRY,
2023–2030 (KILOTON) 151
TABLE 134 UAE: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 152
TABLE 135 UAE: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 152
TABLE 136 SAUDI ARABIA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 153
TABLE 137 SAUDI ARABIA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 153
TABLE 138 GCC COUNTRIES: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 154
TABLE 139 GCC COUNTRIES: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 154
TABLE 140 SOUTH AFRICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 155
TABLE 141 SOUTH AFRICA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 155
TABLE 142 REST OF MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 156
TABLE 143 REST OF MIDDLE EAST & AFRICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (KILOTON) 156
TABLE 144 LATIN AMERICA: EV MAGNET MARKET, BY MAGNET TYPE,
2023–2030 (USD MILLION) 157
TABLE 145 LATIN AMERICA: EV MAGNET MARKET, BY MAGNET TYPE, 2023–2030 (KILOTON) 157
TABLE 146 LATIN AMERICA: EV MAGNET MARKET, BY POWER RATING,
2023–2030 (USD MILLION) 158
TABLE 147 LATIN AMERICA: EV MAGNET MARKET, BY POWER RATING, 2023–2030 (KILOTON) 158
TABLE 148 LATIN AMERICA: EV MAGNET MARKET, BY VEHICLE TYPE,
2023–2030 (USD MILLION) 158
TABLE 149 LATIN AMERICA: EV MAGNET MARKET, BY VEHICLE TYPE, 2023–2030 (KILOTON) 158
TABLE 150 LATIN AMERICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 159
TABLE 151 LATIN AMERICA: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 159
TABLE 152 LATIN AMERICA: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (USD MILLION) 159
TABLE 153 LATIN AMERICA: EV MAGNET MARKET, BY COUNTRY, 2023–2030 (KILOTON) 160
TABLE 154 BRAZIL: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 160
TABLE 155 BRAZIL: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 161
TABLE 156 MEXICO: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (USD MILLION) 161
TABLE 157 MEXICO: EV MAGNET MARKET, BY APPLICATION, 2023–2030 (KILOTON) 162
TABLE 158 REST OF LATIN AMERICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (USD MILLION) 162
TABLE 159 REST OF LATIN AMERICA: EV MAGNET MARKET, BY APPLICATION,
2023–2030 (KILOTON) 163
TABLE 160 EV MAGNET MARKET: KEY STRATEGIES ADOPTED BY MAJOR PLAYERS 164
TABLE 161 EV MAGNET MARKET: DEGREE OF COMPETITION, 2024 167
TABLE 162 EV MAGNET MARKET: REGION FOOTPRINT 172
TABLE 163 EV MAGNET MARKET: MAGNET TYPE FOOTPRINT 173
TABLE 164 EV MAGNET MARKET: POWER RATING FOOTPRINT 174
TABLE 165 EV MAGNET MARKET: VEHICLE TYPE FOOTPRINT 175
TABLE 166 EV MAGNET MARKET: APPLICATION FOOTPRINT 176
TABLE 167 EV MAGNET MARKET: DETAILED LIST OF KEY STARTUPS/SMES 179
TABLE 168 EV MAGNET MARKET: COMPETITIVE BENCHMARKING OF KEY
STARTUPS/SMES (1/2) 180
TABLE 169 EV MAGNET MARKET: COMPETITIVE BENCHMARKING OF KEY
STARTUPS/SMES (2/2) 181
TABLE 170 EV MAGNET MARKET: PRODUCT LAUNCHES, JANUARY 2020–SEPTEMBER 2025 183
TABLE 171 EV MAGNET MARKET: DEALS, JANUARY 2020–SEPTEMBER 2025 183
TABLE 172 EV MAGNET MARKET: EXPANSIONS, JANUARY 2020–SEPTEMBER 2025 185
TABLE 173 PROTERIAL, LTD.: COMPANY OVERVIEW 186
TABLE 174 PROTERIAL, LTD.: PRODUCTS OFFERED 186
TABLE 175 PROTERIAL, LTD.: PRODUCT LAUNCHES 187
TABLE 176 TDK CORPORATION: COMPANY OVERVIEW 189
TABLE 177 TDK CORPORATION: PRODUCTS OFFERED 190
TABLE 178 TDK CORPORATION: DEALS 191
TABLE 179 SHIN-ETSU CHEMICAL CO., LTD.: COMPANY OVERVIEW 192
TABLE 180 SHIN-ETSU CHEMICAL CO., LTD.: PRODUCTS OFFERED 193
TABLE 181 SHIN-ETSU CHEMICAL CO., LTD.: DEALS 193
TABLE 182 VACUUMSCHMELZE GMBH & CO. KG: COMPANY OVERVIEW 195
TABLE 183 VACUUMSCHMELZE GMBH & CO. KG: PRODUCTS OFFERED 195
TABLE 184 VACUUMSCHMELZE GMBH & CO. KG: PRODUCT LAUNCHES 195
TABLE 185 VACUUMSCHMELZE GMBH & CO. KG: DEALS 196
TABLE 186 JL MAG RARE-EARTH CO., LTD.: COMPANY OVERVIEW 198
TABLE 187 JL MAG RARE-EARTH CO., LTD.: PRODUCTS OFFERED 199
TABLE 188 BEIJING ZHONG KE SAN HUAN HI-TECH CO., LTD.: COMPANY OVERVIEW 201
TABLE 189 BEIJING ZHONG KE SAN HUAN HI-TECH CO., LTD.: PRODUCTS OFFERED 202
TABLE 190 NINGBO YUNSHENG CO., LTD.: COMPANY OVERVIEW 204
TABLE 191 NINGBO YUNSHENG CO., LTD.: PRODUCTS OFFERED 205
TABLE 192 ARNOLD MAGNETIC TECHNOLOGIES: COMPANY OVERVIEW 207
TABLE 193 ARNOLD MAGNETIC TECHNOLOGIES: PRODUCTS OFFERED 207
TABLE 194 ARNOLD MAGNETIC TECHNOLOGIES: DEALS 208
TABLE 195 ARNOLD MAGNETIC TECHNOLOGIES: EXPANSIONS 208
TABLE 196 YANTAI DONGXING MAGNETIC MATERIALS INC.: COMPANY OVERVIEW 210
TABLE 197 YANTAI DONGXING MAGNETIC MATERIALS INC.: PRODUCTS OFFERED 210
TABLE 198 BAOTOU TIANHE MAGNETICS TECHNOLOGY CO., LTD.: COMPANY OVERVIEW 212
TABLE 199 BAOTOU TIANHE MAGNETICS TECHNOLOGY CO., LTD.: PRODUCTS OFFERED 213
TABLE 200 ADAMS MAGNETIC PRODUCTS, LLC: COMPANY OVERVIEW 215
TABLE 201 ADAMS MAGNETIC PRODUCTS, LLC: PRODUCTS OFFERED 215
TABLE 202 BUNTING MAGNETICS CO.: COMPANY OVERVIEW 217
TABLE 203 BUNTING MAGNETICS CO.: PRODUCTS OFFERED 217
TABLE 204 BUNTING MAGNETICS CO.: DEALS 217
TABLE 205 MAGNEQUENCH INTERNATIONAL, LLC.: COMPANY OVERVIEW 219
TABLE 206 MAGNEQUENCH INTERNATIONAL, LLC.: PRODUCTS OFFERED 219
TABLE 207 DAIDO STEEL CO., LTD.: COMPANY OVERVIEW 221
TABLE 208 DAIDO STEEL CO., LTD.: PRODUCTS OFFERED 222
TABLE 209 GOUDSMIT MAGNETICS: COMPANY OVERVIEW 224
TABLE 210 GOUDSMIT MAGNETICS: PRODUCTS OFFERED 224
TABLE 211 ECLIPSE MAGNETICS: COMPANY OVERVIEW 226
TABLE 212 ECLIPSE MAGNETICS: PRODUCTS OFFERED 226
TABLE 213 EARTH-PANDA ADVANCED MAGNETIC MATERIAL CO., LTD.: COMPANY OVERVIEW 228
TABLE 214 EARTH-PANDA ADVANCED MAGNETIC MATERIAL CO., LTD.: PRODUCTS OFFERED 229
TABLE 215 HANGZHOU PERMANENT MAGNET GROUP, LTD: COMPANY OVERVIEW 231
TABLE 216 JPMF GUANGDONG CO., LTD: COMPANY OVERVIEW 231
TABLE 217 NINGBO NINGGANG PERMANENT MAGNETIC MATERIALS CO., LTD.: COMPANY OVERVIEW 232
TABLE 218 NINGBO ZHAOBAO MAGNET CO., LTD.: COMPANY OVERVIEW 232
TABLE 219 YANTAI ZHENGHAI MAGNETIC MATERIAL CO., LTD.: COMPANY OVERVIEW 233
TABLE 220 NINGBO CO-STAR MATERIALS HI-TECH CO., LTD.: COMPANY OVERVIEW 234
TABLE 221 NINGBO RISHENG MAGNETS CO., LTD.: COMPANY OVERVIEW 234
TABLE 222 ZHEJIANG SHEENSEN MAGNETICS TECHNOLOGY CO., LTD.: COMPANY OVERVIEW 235
TABLE 223 HANGZHOU TENGYE MAGNETIC MATERIALS CO., LTD.: COMPANY OVERVIEW 235
TABLE 224 PERMANENT MAGNETS LTD.: COMPANY OVERVIEW 236
FIGURE 1 EV MAGNET MARKET SEGMENTATION AND REGIONAL SCOPE 26
FIGURE 2 KEY INSIGHTS AND MARKET HIGHLIGHTS 29
FIGURE 3 GLOBAL EV MAGNET MARKET, 2025–2030 30
FIGURE 4 MAJOR STRATEGIES ADOPTED BY KEY PLAYERS IN EV MAGNET MARKET
(2020–2025) 30
FIGURE 5 DISRUPTIVE TRENDS IMPACTING GROWTH OF EV MAGNET MARKET 31
FIGURE 6 HIGH-GROWTH SEGMENTS AND EMERGING FRONTIERS IN EV MAGNET
MARKET, 2024 32
FIGURE 7 ASIA PACIFIC TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD 33
FIGURE 8 HIGH DEMAND IN ELECTRIC MOTOR CORES & DRIVE MOTORS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS 34
FIGURE 9 NDFEB SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2024 35
FIGURE 10 PASSENGER EVS TO DOMINATE EV MAGNET MARKET DURING FORECAST PERIOD 35
FIGURE 11 ELECTRIC MOTOR CORES & DRIVE MOTORS TO BE LARGEST SEGMENT DURING FORECAST PERIOD 36
FIGURE 12 CHINA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 36
FIGURE 13 EV MAGNET MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 37
FIGURE 14 RARE EARTH RESERVES, 2022 40
FIGURE 15 EV MAGNET MARKET: PORTER’S FIVE FORCES ANALYSIS 44
FIGURE 16 EV MAGNET MARKET: VALUE CHAIN ANALYSIS 48
FIGURE 17 EV MAGNET MARKET: KEY PARTICIPANTS IN ECOSYSTEM 49
FIGURE 18 EV MAGNET MARKET: ECOSYSTEM ANALYSIS 50
FIGURE 19 AVERAGE SELLING PRICE TREND OF EV MAGNET, BY REGION, 2023–2024 51
FIGURE 20 IMPORT DATA FOR HS CODE 850519-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD THOUSAND) 52
FIGURE 21 EXPORT DATA FOR HS CODE 850519-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD MILLION) 53
FIGURE 22 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 55
FIGURE 23 EV MAGNET MARKET: INVESTMENT AND FUNDING SCENARIO, 2021–2025 56
FIGURE 24 PATENT ANALYSIS, BY DOCUMENT TYPE, 2015–2025 70
FIGURE 25 PATENT PUBLICATION TRENDS, 2015−2025 71
FIGURE 26 EV MAGNETS MARKET: LEGAL STATUS OF PATENTS,
JANUARY 2015–NOVEMBER 2025 71
FIGURE 27 JURISDICTION OF CHINA REGISTERED HIGHEST SHARE OF PATENTS, 2015–2025 72
FIGURE 28 TOP PATENT APPLICANTS, 2015–2025 72
FIGURE 29 FUTURE APPLICATIONS OF EV MAGNET MARKET 73
FIGURE 30 EV MAGNET MARKET DECISION MAKING FACTORS 84
FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END-USE INDUSTRY 85
FIGURE 32 KEY BUYING CRITERIA, BY MOTOR APPLICATIONS 86
FIGURE 33 ADOPTION BARRIERS & INTERNAL CHALLENGES 87
FIGURE 34 EV MAGNET MARKET, BY MAGNET TYPE, 2025–2030 (USD MILLION) 91
FIGURE 35 EV MAGNET MARKET, BY VEHICLE TYPE, 2025–2030 (USD MILLION) 99
FIGURE 36 CONTROL & SENSING APPLICATION TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 105
FIGURE 37 EV MAGNET MARKET, BY POWER RATING, 2025–2030 (USD MILLION) 114
FIGURE 38 EV MAGNET MARKET, BY COUNTRY, 2025–2030 120
FIGURE 39 NORTH AMERICA: EV MAGNET MARKET SNAPSHOT 122
FIGURE 40 EUROPE: EV MAGNET MARKET SNAPSHOT 128
FIGURE 41 ASIA PACIFIC: EV MAGNET MARKET SNAPSHOT 139
FIGURE 42 EV MAGNET MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2020–2024 166
FIGURE 43 EV MAGNET MARKET SHARE ANALYSIS, 2024 167
FIGURE 44 EV MAGNET MARKET: BRAND/PRODUCT COMPARISON 169
FIGURE 45 EV MAGNET MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 171
FIGURE 46 EV MAGNET MARKET: COMPANY FOOTPRINT 172
FIGURE 47 EV MAGNET MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 178
FIGURE 48 EV MAGNET MARKET: EV/EBITDA OF KEY MANUFACTURERS 181
FIGURE 49 EV MAGNET MARKET: YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF KEY MANUFACTURERS 182
FIGURE 50 EV MAGNET MARKET: ENTERPRISE VALUATION OF KEY PLAYERS, 2025 182
FIGURE 51 TDK CORPORATION: COMPANY SNAPSHOT 190
FIGURE 52 SHIN-ETSU CHEMICAL CO., LTD.: COMPANY SNAPSHOT 192
FIGURE 53 JL MAG RARE-EARTH CO., LTD.: COMPANY SNAPSHOT 199
FIGURE 54 BEIJING ZHONG KE SAN HUAN HI-TECH CO., LTD.: COMPANY SNAPSHOT 202
FIGURE 55 NINGBO YUNSHENG CO., LTD.: COMPANY SNAPSHOT 205
FIGURE 56 BAOTOU TIANHE MAGNETICS TECHNOLOGY CO., LTD.: COMPANY SNAPSHOT 213
FIGURE 57 DAIDO STEEL CO., LTD.: COMPANY SNAPSHOT 222
FIGURE 58 EARTH-PANDA ADVANCED MAGNETIC MATERIAL CO., LTD.: COMPANY SNAPSHOT 229
FIGURE 59 EV MAGNET MARKET: RESEARCH DESIGN 237
FIGURE 60 EV MAGNET MARKET: BOTTOM-UP AND TOP-DOWN APPROACH 241
FIGURE 61 EV MAGNET MARKET: DATA TRIANGULATION 243