Permanent Magnet Market Growing at 10% CAGR to Cross $50bn by 2024
Permanent magnet market in the energy generation sector will increase substantially in the near future as the UN has aimed at 100% emission free energy generation by the end of 2050. Global Permanent Magnet Industry size is expected to hit USD 50 billion by the end of 2024. With global fossil fuel reserve set to deplete in the next 50 to 70 years, energy generation focus is shifting towards the renewable and emission free sources. Wind energy has come up...
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