Permanent Magnet Market worth $22.7 billion by 2021
The Permanent Magnet Market is valued at USD 14.9 billion in 2016 and is projected to grow at a CAGR of 8.8% to reach USD 22.7 billion by 2021. The increasing demand for efficiency and miniaturization in various applications such as switches, lifts, and sensors and the growing automotive industry in Asia Pacific are the major factors responsible for the growth of the market. A permanent magnet is used mainly in motors, sensors, switches, and actuators in automobiles. Browse 100 market data Tables and 57 Figures spread through 169 Pages and in-depth TOC on “Permanent Magnet Market – Global Forecast to 2021” Download PDF Brochure – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=806 Neodymium iron boron magnet is projected to be the largest segment between 2016 and 2021. The permanent magnet market is segmented by type into neodymium iron boron magnet, ferrite magnet, samarium cobalt magnet, alnico magnet, and others. Neodymi...