South Korea EV Magnet Market (2025-2030)

RESEARCH METHODOLOGY

The study involves two major activities to estimate the current market size for the EV magnet market. Exhaustive secondary research was conducted to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources for this research study include financial statements of companies offering EV magnets and information from various trade, business, and professional associations. Secondary research was used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation by industry trends down to the bottom-most level and by regional markets. The secondary data was collected and analyzed to determine the overall size of the EV magnet market, which was validated by primary respondents.

Primary Research

Extensive primary research was conducted after gathering information on the EV magnet market through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries in North America, Europe, the Asia-Pacific region, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included industry experts such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, and product development/innovation teams, and related key executives from EV magnet industry vendors; system integrators; component providers; distributors; and key opinion leaders.

Interviews were conducted to gather insights such as market statistics, revenue data for products and services, market breakdowns, market size estimates, market forecasts, and data triangulation. Primary research also helped in understanding the various trends related to magnet type, vehicle type, power rating, application, and region.

Stakeholders on the demand side, such as CIOs, CTOs, CSOs, and installation teams of customers/end users who use EV magnet, were interviewed to understand the buyer’s perspective on suppliers, products, component providers, current usage of EV magnet, and the future outlook of their business, which will affect the overall market.

The following is the breakdown of primary respondents:

Market Size Estimation

The research methodology used to estimate the size of the EV magnet market includes the following details. The market size was estimated from the demand side. It was upsized based on procurement and modernization activities for EV magnets across different applications at the regional level. These procurements provide information on the aspects of the EV magnet industry for each application. For each application, all possible segments of the EV magnet market were integrated and mapped.

Data Triangulation

After arriving at the overall market size through the market size estimation process described above, the total market was divided into several segments and subsegments. The data triangulation and market breakdown procedures described below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by analyzing factors and trends from both the demand and supply sides. In addition, the market size was validated using both the top-down and bottom-up approaches.