Rockville, MD , Dec. 11, 2024 (GLOBE NEWSWIRE) -- The Demagnetizers Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2034, from a projected valuation of US$ 745.0 million in 2024 to US$ 1,236.9 million by 2034.
The increasing demand from the automotive and consumer electronics industries is driving the growth of the global demagnetizers market. Increasing electric vehicle production and the call for precision in electronic devices are two important factors responsible for such an increase in demand. Efficient solutions regarding demagnetizing will gain much importance once most of industries start getting automated, especially manufacturing industries and scientific research.
Other factors contributing toward the market include recent developments in technology and quality control regulations about the aerospace and defense industries. Key products that will contribute toward a reduction in electromagnetic interference, while maintaining component reliability, include high-precision demagnetizers.
However, the growth of the market might be constrained by the initial cost of investment being high and the integration of such technology not being easy, thus making it out of reach for small to medium-sized enterprises. This high demand is contributed by the ever-booming industrial manufacturing sector hand in hand with the growing automotive industry in the United States.
China will witness the fastest growth because of its production and technological innovation priorities. Benchtop demagnetizers are preferred due to better performance and reliability during high-volume applications, rather than portable units.
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Key Takeaways from the Market Study:
- During 2024-2034, the market will expand with a CAGR of 5.2%
- Among regions, East Asia exhibits the fastest growth with a CAGR of 6.2%
- Benchtop holds about 68.9% of the share in the type segment.
- In the end-use industry segment, automotive accounts for about 33.5% of the market share in 2024.
- The global demagnetizers market growth was about 2.8% during the historic period (2019-2023).
“Electric Vehicle Production Fuels Demand for Advanced Demagnetization Solutions,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Demagnetizers Market:
Afag; Arnold Magnetic Technologies; BRAILLON MAGNETICS; Bunting Magnetics; Bussi Demagnetizing Systems; Cestriom GmbH; Eclipse Magnetics; Eriez Magnetics; EWM AG; Industrial Magnetics, Inc.; Kanetec Co., Ltd.; Laboratorio Elettrofisico; Magnetfabrik Bonn GmbH; Magnetools Inc.; Magnet-Physik Dr. Steingroever GmbH; Maurer Magnetic AG; Monroe; Sardamagn; Walker Magnetics; Walmag; Other Prominent Players
Market Growth Stratagems:
Recent development within the demagnetizers market includes launching a number of innovative products. This may set the commitment of the industry to operational efficiency and user convenience by extending diversity to various applications, from the automotive to industrial manufacturing. For Instance,
- Eclipse Magnetics has launched a new tabletop demagnetizer designed for easy demagnetizing of residual magnetism following machining processes. The unit features easy operation in which parts can be drawn across its top plate and is available with multiple power supply options to suit various applications.
- Maurer Magnetic has also introduced sophisticated demagnetization technology able to cope effectively with what was earlier considered troublesome. Their product portfolio includes models for specialized industrial applications, with a focus on reliability and performance.
Demagnetizers Industry News:
- Bussi Demagnetizing Systems Company has specialized in the design and construction of electronic impulse and demagnetizers. The company has patented technology and unmatched experience in the sector.
- Kanetec USA has been at the forefront of magnetic tools and equipment since 1959. Kinetic is established for fabricating higher quality and accuracy equipment.
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More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the demagnetizers market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024-2034.
The study reveals essential insights on the basis of by Type (Benchtop Demagnetizers and Portable Demagnetizers (Pen Type and Hand-Held)), by Technology (Coils, Capacitive Discharge and Permanent Magnets), by End Use Industry (Automotive, Consumer Electronics, Scientific Research, Industrial Manufacturing and Others) across major regions of the world (North Amserica, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, Middle East & Africa).
Segmentation of Demagnetizers Industry Research:
- By Type :
- Benchtop Demagnetizers
- Portable Demagnetizers
- Pen Type
- Hand-Held
- By Technology:
- Coils
- Capacitive Discharge
- Permanent Magnets
- By End-Use Industry :
- Automotive
- Consumer Electronics
- Scientific Research
- Industrial Manufacturing
- Others
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