About Drawer Magnets
Magnets are ubiquitous, used to improve the quality of life. There are three types of magnets such as permanent, semi-hard and soft magnets. Magnets are important in the production and consumption of electrical energy. Due to the smaller size and super magnetic power theses are used by automotive and electrical industry which reduce the component size.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Drawer Magnets is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Drawer Magnets market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bunting Magnetics (United States), Industrial Magnetics (United States), Goudsmit Magnetics (Netherlands), MPI Magnet (United States), Eriez Manufacturing (United States), SPALTECH (Canada), Conair (Butler), Regal Magnetics (India) and Hangseng(Ningbo) Magnetech (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Jaykrishna Magnetics (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Drawer Magnets market by Type (Manual, Semi-Automatic and Automatic), Application (Residential (In-Housing) and Commercial (Automotive, Electronics and Others)) and Region.
On the basis of geography, the market of Drawer 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 Drawer Magnets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing focus on modernization by using permanent metals to increase the efficiency of Applications
Market Growth Drivers:
Increasing better Living Standards in Developing Countries and The need for Energy Efficient Machines worldwide
Challenges:
Availability of Metals like Neodymium and Samarium Worldwide
Restraints:
Fluctuation in the Price of Metals which are Used for Magnet Creation and Risk in Metal Mining
Opportunities:
Growth of Automotive Industry in both Developing and Underdeveloped Counties
Market Leaders and their expansionary development strategies
In October 2021, Bunting acquired MegDev Ltd, a Uk based magnet and magnetic assembly manufacturer. This acquisition has expanded the range of magnetic solution and technical expertise bunting is able to offer as a global magnetic group.
In October 2019, Bunting launched the FF350, a new drawer filter magnet designed for use in high temperature applications, at the recent k2019 show in Dusseldorf, Germany.
Key Target Audience
Drawer Magnets Manufacturers, Drawer Magnets Suppliers/Distributors, Raw Material Suppliers and Potential Investors
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.