About Lifting Magnets
Growing demand in various end-user industries will help to boost the global lifting magnets market. Lifting magnets for a wide range of applications using permanent, electro-permanent, battery powered, and electromagnetic technologies. Larger lifting magnets are designed for various applications including handling billets, bundles, long bar stock, rail, hot material, coils, bar stock, slabs, plates, radioactive material, pipe rebar, slag, and more. These magnets are usually used in scrap yards, steel mills, loading docks, foundries, warehouses, shipyards, and coil and pipe distributors.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.0% |
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined synergies Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Lifting Magnets market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sumitomo Heavy Industries (Japan), Kanetec (United States), Walker Magnetics (Alliance Holdings) (United States), Evertz Group (Germany), Hishiko Corporation (Japan), Magnetool, Inc. (United States), Sarda Magnets Group (India), WOKO Magnet (Germany), Armstrong Magnetics, Inc. (United States) and Industrial Magnetics, Inc. (IMI) (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Braillon Magnetics (France), ALFRA GmbH (Germany), Eclipse Magnetics (Spear & Jackson) (Australia), Magnetic Lifting Technologies (United States), Earth-Chain Enterprise (Taiwan), Assfalg GmbH (Germany), Uptech Engineering (India) and Hunan Kemeida Electric (China).
Segmentation Overview
AMA Research has segmented the market of Global Lifting Magnets market by Type (Permanent Lifting Magnets, Battery Powered Lifting Magnets, Electro-permanent Lifting Magnets and Others), Application (Automotive, Construction, Ship Building, Industrial and Others) and Region.
On the basis of geography, the market of Lifting Magnets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Lifting Magnets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development & Modernization of Infrastructure and Initiatives of Associations & Regulatory Bodies
Market Growth Drivers:
Increasing Demand for Efficiency & Miniaturization and Growth of the End-Use Industries
Challenges:
Lack of Quality Control in Developing Countries
Restraints:
Fluctuating Raw Material Costs and Huge Investments Required in R&D
Opportunities:
Development of Technology and Growing Automotive Industry in Asia-Pacific
Market Leaders and their expansionary development strategies
In December 2023, AML announced a groundbreaking US production plan for permanent magnets. The company has made significant strides in advancing its technology, enhancing capabilities, and nurturing strategic relationships, all in pursuit of establishing itself as a key player in the commercial manufacturing of permanent magnets.
In June 2023, IHI Corporation today announced a breakthrough high-flux plastic magnet rotor prototype for ultra-high-speed motors for aircraft and automobiles. This achievement is the fruit of collaboration with Akita University and three Akita Prefecture-based companies that leveraged support from the Akita Industrial Technology Center.
Key Target Audience
Lifting Magnets Manufactures, Suppliers and Distributors, Industry Associations, Government Regulatory Bodies, Government and private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.