United States Rare Earth Magnet for Automotive Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 0.9 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The growing demand for electric vehicles (EVs) and energy-efficient technologies is accelerating the need for rare earth magnets, especially in the automotive sector. The US rare earth magnet for automotive market is evolving rapidly, with an increasing focus on high-performance and durable magnets used in critical components like motors, sensors, and actuators.
Rare earth magnets are essential for electric vehicle motors, as they enable higher efficiency and power output with smaller and lighter components. The demand for these magnets is surging, driven by the automotive industry's shift towards electrification. Manufacturers in the US are focusing on producing high-quality, reliable rare earth magnets to meet the increasing requirement from automotive OEMs (original equipment manufacturers).
In the automotive market, there are different types of rare earth magnets, with neodymium-iron-boron (NdFeB) magnets being the most commonly used in electric vehicle (EV) motors. These magnets are known for their strength and energy density, making them an ideal choice for automotive applications. As a result, there is an increasing requirement for high-performance NdFeB magnets that can withstand high temperatures and harsh conditions found in automotive environments.
Furthermore, industries require these magnets to meet stringent environmental and sustainability standards. With the growing focus on reducing the carbon footprint and ensuring the recyclability of materials, rare earth magnets are being designed with these factors in mind. Manufacturers are expected to develop magnets that are not only efficient but also contribute to the overall sustainability of the automotive sector.
As the market for electric vehicles and advanced automotive technologies expands, the demand for rare earth magnets will continue to grow. Manufacturers are expected to innovate and improve the performance of rare earth magnets to meet the evolving needs of the automotive industry. The US rare earth magnet for automotive market is at the forefront of this transformation, with new developments and advancements making it a key player in the global automotive supply chain.
Get an In-Depth Research Analysis of the US Rare Earth Magnet for Automotive Market Size And Forecast [2025-2032]
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Hitachi Metals Group
Shin-Etsu
TDK
VAC
Beijing Zhong Ke San Huan Hi-Tech
Yunsheng Company
YSM
JL MAG
ZHmag
Jingci Material Science
AT&M
NBJJ
Innuovo Magnetics
SGM
Galaxy Magnetic
Zhejiang Zhongyuan Magnetic
Earth- Panda
Magsuper
Daido Electronics
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Rare Earth Magnet for Automotive Market
Electric Motors
Hybrid Electric Vehicles (HEVs)
Advanced Driver Assistance Systems (ADAS)
Battery Electric Vehicles (BEVs)
Neodymium-Iron-Boron (NdFeB)
Samarium-Cobalt (SmCo)
Alnico
Ferrite Magnets
OEMs (Original Equipment Manufacturers)
Aftermarket Suppliers
Disc
Cylinder
Ring
Block
Passenger Vehicles
Commercial Vehicles
Electric Vehicles
Luxury Vehicles
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Rare Earth Magnet for Automotive Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Rare Earth Magnet for Automotive Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Rare Earth Magnet for Automotive Market, By Type
6. US Rare Earth Magnet for Automotive Market, By Application
7. US Rare Earth Magnet for Automotive Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Rare Earth Magnet for Automotive Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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