China's permanent magnet market is expanding rapidly, propelled by significant progress in industrial and technological sectors. As the world's leading producer and user of permanent magnets, China holds a central position in the global market, especially in areas such as electric vehicles, renewable energy, and consumer electronics. The renewable energy industry-particularly wind power, where permanent magnets are essential for generator function-also plays a key role in this growth. With one of the largest automotive manufacturing sectors globally, China sees high demand for both permanent magnet and induction motors in electric vehicles. Consequently, the rising adoption of EVs is a major driver of the country's permanent magnet market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook