Europe Permanent Magnet Market Company Profiles, Segments, Landscape 2031


The Europe Permanent Magnet Market size is expected to reach US$ 3,665.45 million by 2031 from US$ 2027.17 million in 2024. The market is estimated to record a CAGR of 9.3% from 2025 to 2031.

Executive Summary and Europe Permanent Magnet Market Analysis
The Europe Permanent Magnet Market is experiencing strong growth, driven by the region’s commitment to green energy, electrification, and cutting-edge technological advancements. A key factor behind this expansion is the rising demand for electric vehicles (EVs), spurred by the European Union’s stringent environmental regulations and sustainability goals. Permanent magnets—especially those used in high-efficiency permanent magnet synchronous motors (PMSMs)—are essential in EV powertrains, positioning the automotive sector as a major driver of market growth.

Europe Permanent Magnet Market Outlook
Europe’s robust investment in renewable energy, particularly wind power, is further fueling demand for permanent magnets. These magnets are critical components in direct-drive wind turbine generators, contributing to their efficiency and reliability. The European Green Deal and the region’s goal to achieve carbon neutrality by 2050 are accelerating the adoption of renewable energy technologies and electrified systems, thereby increasing the demand for high-performance magnets.

Additionally, Europe is actively working to establish a secure and sustainable supply chain for rare earth elements—crucial inputs for permanent magnet manufacturing. This includes efforts to develop domestic mining operations and enhance recycling capabilities to reduce dependency on imports, particularly from China. Beyond energy and transportation, industrial sectors such as robotics, automation, and aerospace are also contributing to market growth through their need for magnets in motors, actuators, and sensors.

Europe Permanent Magnet Market – Country Insights
Regionally, the Europe Permanent Magnet Market includes key contributions from countries such as Germany, France, and the UK. However, the original text appears to incorrectly reference the US, Canada, and Mexico under Europe, which should be corrected for accuracy. Assuming this was meant to cover North America, here is the revised insight:

North America Permanent Magnet Market – Country Insights
In North America, the United States held the largest market share in 2023. The U.S. market is expanding rapidly due to growing demand from sectors such as automotive, aerospace, and consumer electronics. The accelerating shift toward electric vehicles is particularly influential, as automakers increasingly utilize permanent magnet-based motors for EV propulsion. Rare-earth magnets play a critical role in electric motors, wind turbines, and other renewable energy technologies.

The U.S. government’s initiatives promoting EV adoption and clean energy—combined with broader efforts to decarbonize the economy—are driving sustained investment and innovation in this space, contributing significantly to the permanent magnet market’s growth.

Segments Covered

Europe Permanent Magnet Market By Type

  • Neodymium-Iron-Boron
  • Ferrite
  • Samarium Cobalt
  • Alnico

Europe Permanent Magnet Market By Application

  • Consumer Electronics
  • Automotive
  • Aerospace and Defense
  • Medical
  • Industrial Machinery
  • Energy

Europe Permanent Magnet Market Regions and Countries Covered

Europe

  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe

Europe Permanent Magnet Market leaders and key company profiles

  • Shin-Etsu Chemical
  • Hitachi Metals
  • Toyota Tsusho Corporation
  • General Electric
  • TDK Corp
  • Armold Magnetic technologies
  • Galaxy Magnets
  • Goudsmit Magnetics
  • Electron Energy Corporation
  • Dexter Magnetic Technolgies

Other Reports:

Asia Pacific Permanent Magnet Market: https://business-news-insights.blogspot.com/2025/05/asia-pacific-permanent-magnet-market.html

Nordic Permanent Magnet Market: https://sites.google.com/view/nordic-permanent-magnet-market/home 

GCC Permanent Magnet Market: https://penzu.com/p/7da172c88f1f975f 

ASEAN Graphite Market: https://postyourarticle.com/asean-graphite-market-growth-and-recent-trends-by-forecast-2031/ 

Europe Pharmaceutical Continuous Manufacturing Market: https://www.findit.com/bxzmqbokeeacpdc/RightNow/europe-pharmaceutical-continuous-manufacturing-markets/a8e76d59-aa22-452f-b9bc-4a189c2090fa 

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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