Market Overview:
The global rare earth permanent magnet market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and renewable energy sources. Additionally, the growing awareness about health and fitness is also propelling the demand for sauna heaters, which in turn is boosting the growth of the global rare earth permanent magnet market.
Product Definition:
A rare earth permanent magnet is a type of permanent magnet made from alloys of rare earth elements. They are characterized by high coercivity, meaning they can hold a strong magnetic field even when subjected to external forces. This makes them ideal for use in motors, sensors, and other applications where reliable performance is essential. Rare earth magnets are also relatively expensive compared to other types of magnets, making them less common in consumer products. However, their unique properties make them invaluable in many industrial and technological applications.
Floor Mounted Electric Sauna Heaters:
Floor mounted electric sauna heaters are used to generate heat for moist heating of the air and are widely used in saunas, steam rooms, and hot tubs. They have a wide application scope in commercial buildings such as health clubs & spas where the space required for construction of an outdoor swimming pool is utilized effectively. The product also finds its utility in residential buildings with small lot sizes where a separate indoor area can be constructed to provide fitness equipment at minimal cost.
Wall Mounted Electric Sauna Heaters:
Wall mounted electric sauna heaters are used to heat the interior of a building. They are made up of different parts like an electrical heating pad, base, and cord. The electrical heating pad is usually made up of aluminum or copper and it works by generating an electromagnetic field which then induces into the material placed in it's vicinity to generate heat.
Application Insights:
The permanent magnet market is segmented on the basis of application into residential and commercial. The residential application segment accounted for a share of over 80% in 2017. This high share is attributable to increasing demand from consumers looking for effective ways to relax and rejuvenate their bodies at home, thereby driving the growth of this segment.
The commercial application segment is expected to witness significant growth over the forecast period owing to rising demand from spas, wellness centers, hotels and hospitals that offer various spa treatments using these products as they are more efficient than electromagnets in providing deep tissue massage. These devices also help reduce fatigue by strengthening muscles throughout the body thus promoting its use across various spa facilities around the world.
Regional Analysis:
Asia Pacific dominated the global rare earth permanent magnet market in 2017. China is a major producer and consumer of rare earth elements in this region. The growing demand for energy-efficient products along with government initiatives to promote sauna culture is expected to drive the regional market over the forecast period.
North America accounted for a significant share of global revenue owing to high product demand from various end-use industries, such as electronics, automotive, and heating & cooling equipment. Growing awareness regarding health benefits associated with using electric saunas is expected to further propel product sales in North America over the next eight years.
The U.S., being one of the most lucrative markets for electronic devices across all regions has witnessed an increasing number of electronic appliances incorporating magnetic components such as motors and sensors since past few years; however, it was not until 2016 that these magnets were classified under Rare Earth Elements (REE) category by United States Geological Survey (USGS).
Growth Factors:
- Increasing demand for electric vehicles and hybrid vehicles
- Growing demand from the electronics industry
- Rising use of rare earth permanent magnets in wind turbines
- Rapid growth of the Chinese economy
- Technological advancements
Scope Of The Report
Report Attributes
Report Details
Report Title
Rare Earth Permanent Magnet Market Research Report
By Type
Floor Mounted Electric Sauna Heaters, Wall Mounted Electric Sauna Heaters
By Application
Residential, Commercial
By Companies
TyloHelo, Harvia Sauna, Saunacore, Finlandia Sauna, KLAFS, Tulikivi, Scandia, Nippa, VETO (Muko Oy), IKI-Kiuas, EOS Saunatechnik, NARVI, Shenzhen TOLO
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.
Global Rare Earth Permanent Magnet Market Report Segments:
The global Rare Earth Permanent Magnet market is segmented on the basis of:
Types
Floor Mounted Electric Sauna Heaters, Wall Mounted Electric Sauna Heaters
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- TyloHelo
- Harvia Sauna
- Saunacore
- Finlandia Sauna
- KLAFS
- Tulikivi
- Scandia
- Nippa
- VETO (Muko Oy)
- IKI-Kiuas
- EOS Saunatechnik
- NARVI
- Shenzhen TOLO
Highlights of The Rare Earth Permanent Magnet Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Floor Mounted Electric Sauna Heaters
- Wall Mounted Electric Sauna Heaters
- By Application:
- Residential
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Rare Earth Permanent Magnet Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Rare earth permanent magnets are made from rare earth elements. These magnets have a very strong hold and can be used in many different applications.
Some of the major players in the rare earth permanent magnet market are TyloHelo, Harvia Sauna, Saunacore, Finlandia Sauna, KLAFS, Tulikivi, Scandia, Nippa, VETO (Muko Oy), IKI-Kiuas, EOS Saunatechnik, NARVI, Shenzhen TOLO.
The rare earth permanent magnet market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Rare Earth Permanent Magnet Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Rare Earth Permanent Magnet Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Rare Earth Permanent Magnet Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Rare Earth Permanent Magnet Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Rare Earth Permanent Magnet Market Size & Forecast, 2020-2028
4.5.1 Rare Earth Permanent Magnet Market Size and Y-o-Y Growth
4.5.2 Rare Earth Permanent Magnet Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Floor Mounted Electric Sauna Heaters
5.2.2 Wall Mounted Electric Sauna Heaters
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Rare Earth Permanent Magnet Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Rare Earth Permanent Magnet Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Floor Mounted Electric Sauna Heaters
9.6.2 Wall Mounted Electric Sauna Heaters
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Floor Mounted Electric Sauna Heaters
10.6.2 Wall Mounted Electric Sauna Heaters
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Floor Mounted Electric Sauna Heaters
11.6.2 Wall Mounted Electric Sauna Heaters
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Floor Mounted Electric Sauna Heaters
12.6.2 Wall Mounted Electric Sauna Heaters
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Floor Mounted Electric Sauna Heaters
13.6.2 Wall Mounted Electric Sauna Heaters
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Rare Earth Permanent Magnet Market: Competitive Dashboard
14.2 Global Rare Earth Permanent Magnet Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 TyloHelo
14.3.2 Harvia Sauna
14.3.3 Saunacore
14.3.4 Finlandia Sauna
14.3.5 KLAFS
14.3.6 Tulikivi
14.3.7 Scandia
14.3.8 Nippa
14.3.9 VETO (Muko Oy)
14.3.10 IKI-Kiuas
14.3.11 EOS Saunatechnik
14.3.12 NARVI
14.3.13 Shenzhen TOLO
