EV Magnet Market worth $9.5 billion by 2030
The report "EV Magnet Market by Magnet Type (NdFeB, SmCo, AINiCo, Ferrite), By Vehicle Type (Passenger EVs, Electric Buses & Trucks), By Power Rating, Application, and Region - Forecast to 2030" is expected to reach USD 9.5 billion by 2030 from USD 5.3 billion in 2025, at a CAGR of 12.4% from 2025 to 2030.
Browse 200 market data Tables and 150 Figures spread through 300 Pages and in-depth TOC on "EV Magnet Market, By Magnet Type (NdFeB, SmCo, AINiCo, Ferrite), By Vehicle Type (Passenger EVs, Electric Buses & Trucks), By Power Rating, Application, and Region - Forecast to 2030"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/ev-magnet-market-255460133.html
The EV magnet market is significantly influenced by the presence of global and regional aluminum manufacturers. Companies such as Proterial Ltd., TDK Corporation, Shin-Etsu Chemical Co., Ltd., Vacuumschmelze GmbH & Co. KG, JL Mag Rare-Earth Co., Ltd., Beijing Zhong Ke San Huan High-Tech Co., Ltd., Ningbo Yunsheng Co., Ltd., Arnold Magnetic Technologies, Yantai Dongxing Magnetic Materials Inc., Baotou Tianhe Magnetic Technology Co., Ltd., Adams Magnetic Products, LLC, Bunting Magnetics Co., Magnequench International, LLC, Daido Steel Co., Ltd., Goudsmit Magnetics, Eclipse Magnetics, and Earth-Panda Advanced Magnetic Material Co., Ltd. offer a wide range of EV magnets. The availability of these high-quality products from numerous reliable suppliers facilitates market growth, as various industries show increasing interest in utilizing EV magnets.
By magnet type, the ferrite segment is expected to grow at the highest CAGR in the EV magnet market during the forecast period
By magnet type, the ferrite segment is projected to register the highest CAGR during 2025-2030, outpacing the overall EV magnet market. This accelerated growth is driven by increasing OEM adoption of ferrite-based traction motor designs to reduce dependence on rare earth materials amid price volatility in neodymium and dysprosium. Ferrite magnets are seeing higher penetration in cost-sensitive passenger EV platforms and entry-level electric two- and three-wheelers, particularly in the Asia Pacific region. Advancements in motor design optimization, such as improved rotor topology and higher electrical efficiency compensation, are enabling ferrite magnets to be used in mid-power traction applications, further strengthening their growth trajectory.
By vehicle type, the passenger electric-vehicle segment is projected to grow at the second-highest CAGR in the EV magnet market during the forecast period.
Among vehicle types, the passenger electric vehicles (PEVs) segment is projected to grow at the second-highest CAGR during the forecast period. Although passenger EVs account for the largest share of magnet consumption (by volume) due to high global production volumes, their growth rate is comparatively moderate versus light commercial EVs and electric buses, which are expanding from a smaller base. Increasing penetration of dual-motor configurations, higher-power-rated traction systems (150-250 kW platforms), and rising average magnet content per vehicle continue to support strong and sustained demand within this segment.
Medium-power motors (60-150 KW) segment to grow at third-highest CAGR in the EV magnet market during the forecast period.
The medium-power motors (60-150 kW) segment is projected to grow at the third-highest CAGR in the EV magnet market during the forecast period. This growth is driven primarily by rising production of compact and mid-size passenger EVs, which typically operate within this power range for optimal efficiency and cost balance. Increasing adoption of single-motor front- and rear-wheel drive architectures in mainstream EV models is strengthening magnet demand in this category. The shift toward higher-efficiency traction systems and improved torque density within mid-range platforms is supporting greater consumption of high-performance NdFeB magnets per motor unit.
The powertrain components segment is expected to hold the second-largest market share during the forecast period.
The powertrain components segment is expected to hold the second-largest share in the EV magnet market during the forecast period, supported by the growing integration of permanent magnets in traction motors, e-axles, integrated drive units (IDUs), and rotor assemblies. As OEMs shift toward compact, high-efficiency propulsion platforms, magnet intensity per vehicle is rising, particularly in dual-motor and high-voltage architectures. Growing production of high-performance and long-range EV models is further strengthening magnet demand within core powertrain systems, maintaining this segment’s strong value contribution throughout the forecast period.
North America is expected to hold the second-largest market share during the forecast period.
North America is expected to hold the second-largest market share in the EV magnet market during the forecast period, supported by strong EV production growth in the US, expanding domestic battery and e-drive manufacturing capacity, and policy incentives under clean energy and localization initiatives. Rising investments in rare-earth processing and magnet manufacturing facilities to reduce import dependence are further strengthening regional supply chain resilience. Increasing adoption of high-performance and long-range EV models, particularly SUVs and electric trucks with higher power ratings, is contributing to sustained magnet demand across the region.
Key Players
Prominent companies 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), Magnequench International, LLC. (Singapore), Daido Steel Co., Ltd. (Japan), Goudsmit Magnetics (Netherlands), Eclipse Magnetics (UK), Earth-Panda Advanced Magnetic Material Co., Ltd. (China), and others.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.
Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.
The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the EV Magnet Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
