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The Benelux Permanent Magnet Market size is expected to reach US$ 17.67 million by 2031 from US$ 10.47 million in 2024. The market is estimated to record a CAGR of 8.3% from 2025 to 2031.
The Benelux permanent magnet market is experiencing consistent growth, fueled by advancements across automotive, renewable energy, and electronics sectors. The region's robust industrial foundation, particularly in automotive manufacturing and machinery, drives the need for high-performance magnets in crucial components like motors and sensors. The automotive industry's electric vehicle (EV) transition stands out as a significant demand driver, with neodymium-iron-boron (NdFeB) magnets being essential for EV motors. As European manufacturers increase EV production to meet strict environmental regulations, the demand for these magnets continues its upward trajectory.
The Benelux region's focus on innovation, sustainability, and green technologies further propels the demand for permanent magnets, establishing the area as a vital European market for these critical components. The renewable energy sector, notably wind power, also significantly contributes to this growing demand. With ambitious carbon emission reduction targets, Benelux countries are investing in wind farms, which rely on permanent magnets for efficient power generation in turbine generators. Furthermore, the expanding electronics sector, driven by increasing demand for smartphones, medical devices, and consumer electronics, all of which depend on magnets for their functionality, further bolsters the market.
Benelux Permanent Magnet Market: Country Insights
The Benelux permanent magnet market can be segmented into Belgium, the Netherlands, and Luxembourg. In 2024, the Netherlands held the largest market share.
The Netherlands is a frontrunner in European EV adoption. Data from the Dutch Ministry of Infrastructure and Water Management indicates that EV sales constituted 16% of total car sales in the Netherlands in 2022, marking an approximate 70% increase from the previous year. The Dutch government's policy to phase out the sale of new petrol and diesel vehicles by 2030 is anticipated to accelerate EV sales in the coming years. Moreover, the Netherlands boasts advanced manufacturing and automation industries, where permanent magnets are crucial in electric motors, actuators, and sensors used in industrial robots and automated systems. Projects like Hollandse Kust Zuid, the world's first unsubsidized offshore wind farm, are expanding the demand for direct-drive turbines that utilize permanent magnets. Additionally, the Netherlands' exploration of green hydrogen production, which relies on renewable energy sources including wind power, further contributes to the increasing demand for permanent magnets across various end-use industries within the country.
Benelux Permanent Magnet Market Segments Covered
Benelux Permanent Magnet Market By Type
Neodymium-Iron-Boron
Ferrite
Samarium Cobalt
Alnico
Benelux Permanent Magnet Market By Application
Consumer Electronics
Automotive
Aerospace and Defense
Medical
Industrial Machinery
Energy
Benelux Permanent Magnet Market Regions and Countries Covered
Benelux
Belgium
Netherlands
Luxembourg
Benelux Permanent Magnet Market leaders and key company profiles
Shin-Etsu Chemical
Hitachi Metals
Toyota Tsusho Corporation
General Electric
TDK Corp
Armold Magnetic technologies
Galaxy Magnets
Goudsmit Magnetics
Electron Energy Corporation
Dexter Magnetic Technolgies
Other Reports:
Asia Pacific Permanent Magnet Market: https://sites.google.com/view/asia-pacific-permanent-magnet-/home
Nordic Permanent Magnet Market: https://www.findit.com/bxzmqbokeeacpdc/RightNow/nordic-permanent-magnet-markets/dbd56a66-1c32-451d-ad8c-10db11152858
GCC Permanent Magnet Market: https://postyourarticle.com/gcc-permanent-magnet-market-emerging-technologies-competitive-landscape-2031/
ASEAN Graphite Market: https://business-news-insights.blogspot.com/2025/05/asean-graphite-market-industry.html
Europe Pharmaceutical Continuous Manufacturing Market: https://sites.google.com/view/pharmaceutical-continuous-m/home
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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