전기차 구동 모터용 희토류 영구자석 시장 규모, 점유율 및 성장 예측(2026-2031년)

The revenue from rare-earth permanent magnets used in EV traction motors is expected to increase from USD 2.45 billion in 2026 to USD 4.75 billion in 2031 at a robust 14.2% CAGR over this period.

The global rare-earth permanent magnets market for EV traction motors is positioned at the intersection of electric vehicle growth, high-performance motor design, and critical mineral supply security. Sintered neodymium-iron-boron magnets remain important for high-performance traction motors because they provide high magnetic energy density in compact rotor designs. This enables high torque while supporting lower motor size and weight. The expanding adoption of electric vehicles therefore continues to create a strong demand base for traction-motor magnets.

The market is also being shaped by the concentration of rare-earth processing and permanent-magnet manufacturing in China. China accounted for nearly 95% of global permanent-magnet manufacturing in 2024. Export licensing introduced in April 2025 increased procurement risks for downstream users and highlighted the importance of supply diversification. At the same time, manufacturers are reducing their dependence on heavy rare earths through improved magnet designs, grain-boundary diffusion, and better thermal management. Investments in North America, Europe, and Asia Pacific are also supporting the development of alternative supply chains.

Market Drivers

Rising Electric Vehicle Production

• The expansion of global electric vehicle production is the primary demand driver for rare-earth permanent magnets used in traction motors. Global electric-car sales exceeded 20 million units in 2025, while approximately 23 million sales are expected in 2026. Passenger battery electric vehicles and plug-in hybrid electric vehicles remain important applications because permanent-magnet traction motors provide a combination of efficiency, torque density, and compact packaging.
• Motor configuration also affects magnet demand. Single-motor vehicles require one traction motor, while dual-motor and multi-motor platforms require additional motor systems. All-wheel-drive and performance-oriented electric vehicles can therefore increase magnet consumption per vehicle.

Demand for Compact and Efficient Traction Motors

• Sintered NdFeB magnets offer strong remanence, coercivity, and energy product. These properties allow manufacturers to develop compact motors with high torque density. The resulting packaging flexibility is valuable for electric vehicles, where motor efficiency, vehicle weight, available space, and thermal performance are closely linked.
• The use of high-performance permanent magnets is particularly relevant in vehicle platforms where efficiency and compact motor architecture are important. These characteristics continue to support permanent-magnet motor adoption despite growing interest in alternative motor technologies.

Supply Security and Regional Manufacturing

• China's strong position across mining, separation, refining, alloy production, and magnet manufacturing has increased the strategic importance of supply diversification. The concentration means that disruptions at the processing or magnet-production stages can affect manufacturers even when raw material is sourced from outside China.
• The April 2025 export licensing requirements highlighted this exposure. Automakers and suppliers faced tighter availability and procurement uncertainty as licensing applications accumulated. As a result, manufacturers are placing greater emphasis on geographically diversified magnet supply and long-term sourcing arrangements.

Reduction in Heavy Rare-Earth Consumption

• Dysprosium and terbium improve resistance to demagnetization at elevated temperatures. However, these materials are more supply-concentrated than neodymium and praseodymium. Manufacturers are therefore working to reduce heavy rare-earth intensity through grain-boundary diffusion, microstructure control, improved alloy design, and better motor cooling.
• These technologies allow manufacturers to retain permanent-magnet motor architectures while reducing exposure to constrained heavy rare-earth inputs. This creates a growth opportunity for advanced magnet grades with lower dysprosium and terbium requirements.

Market Restraints

High Supply Chain Concentration

• The market remains exposed to China's dominant position in permanent-magnet manufacturing. China accounted for almost 95% of global permanent-magnet production in 2024. It also represented more than 90% of global separation and refining for magnet rare earths.
• This concentration increases the sensitivity of the market to export licensing, policy changes, logistics disruptions, and changes in material availability. Establishing alternative supply chains also requires substantial investment and specialized manufacturing expertise.

Export Controls and Procurement Uncertainty

• China's April 2025 export controls introduced licensing requirements for selected medium and heavy rare-earth elements and related materials. The measures did not represent a universal ban, but licensing delays contributed to practical shortages for downstream manufacturers.
• Although global magnet flows recovered toward historical levels for many destinations by August and September 2026, selected controlled materials remained volatile and U.S.-bound shipments remained weaker. This continues to make supply security a strategic concern for automotive manufacturers and magnet buyers.

Substitution from Rare-Earth-Free Motors

• Rare-earth-free traction motor technologies present a long-term substitution risk. Externally excited synchronous motors and induction motors can eliminate the need for rare-earth permanent magnets. Several manufacturers are developing magnet-free propulsion systems, while Valeo and Renault plan series production of a 200 kW, 800 V rare-earth-free motor in 2027.
• These alternatives can reduce the relationship between EV production growth and rare-earth magnet demand. Adoption will depend on vehicle segment requirements, motor efficiency, packaging, thermal performance, inverter control, and supply security considerations.

Challenges in Developing Alternative Capacity

• North American, European, and other Asian markets are expanding local magnet capacity. However, production outside China remains small compared with projected global demand. New projects also face financing, competitiveness, qualification, and scale challenges. The cancellation of a planned European rare-earth magnet facility in 2026 illustrates the difficulty of building commercially competitive capacity outside established manufacturing centers.

Technology and Segment Insights

Magnet Type

• Sintered NdFeB is the principal high-performance magnet technology for EV traction motors. Its high magnetic performance supports compact motor designs and high torque density. Automotive-grade magnets must also provide thermal stability, corrosion resistance, dimensional accuracy, and long-term reliability.
• Bonded NdFeB and other rare-earth permanent magnets represent additional technology segments. Their adoption depends on motor architecture, performance requirements, manufacturing processes, and application-specific design considerations.

Rare-Earth Input

• Neodymium and praseodymium are the principal magnetic inputs used in high-performance NdFeB magnets. Dysprosium and terbium are used in selected grades to improve high-temperature coercivity and resistance to demagnetization.
• The market is moving toward lower heavy rare-earth intensity. Grain-boundary diffusion and localized heavy rare-earth placement allow manufacturers to use these materials more efficiently. Better thermal management can further reduce the temperature exposure of magnets and support lower heavy rare-earth requirements.

Vehicle Type

• Passenger battery electric vehicles represent a major application base because of their growing production and continued use of permanent-magnet traction motors. Plug-in hybrid electric vehicles also contribute to demand.
• Commercial electric vehicles provide another application segment where motor performance and durability are important. Electric two- and three-wheelers create additional demand, particularly in markets where these vehicle categories have significant electrification potential.

Motor Configuration

• Single-motor vehicles represent the simplest traction configuration. Dual-motor vehicles require additional permanent magnets and can therefore increase magnet demand per vehicle. Multi-motor platforms can create further demand, particularly where performance, traction, or advanced drivetrain configurations require multiple propulsion motors.

Geography

• Asia Pacific remains the dominant regional market. China combines a large electric vehicle manufacturing base with extensive rare-earth refining, alloy production, and permanent-magnet capacity. Japan remains an important source of high-performance automotive magnet technology.
• India is developing domestic magnet capacity through government-supported initiatives and private investment. A national scheme approved in 2025 targets 6,000 tonnes per year of integrated sintered rare-earth permanent-magnet capacity. India is also expected to require approximately 3,250 tonnes of rare-earth permanent magnets for EVs by 2030.
• North America and Europe are expanding alternative production capacity. These developments are focused on reducing dependence on Chinese supply and supporting localized automotive-grade magnet production.

Competitive and Strategic Outlook

• The competitive environment includes major Chinese magnet producers, established Japanese materials companies, and emerging North American and European suppliers. Key companies identified in the market include JL MAG Rare-Earth, Ningbo Yunsheng, Proterial, TDK, Daido Steel, Shin-Etsu Chemical, Beijing Zhong Ke San Huan, Earth-Panda, VACUUMSCHMELZE, eVAC, MP Materials, Noveon Magnetics, Arnold Magnetic Technologies, and Neo Performance Materials.
• Competition is increasingly based on automotive qualification, production scale, magnet performance, heavy rare-earth reduction, traceable sourcing, recycling capabilities, and long-term supply agreements. Suppliers with integrated capabilities across rare-earth processing, alloy production, and magnet manufacturing can strengthen supply reliability.
• Regional capacity expansion is becoming a central strategic theme. MP Materials is developing a large U.S. manufacturing campus, while eVAC and VACUUMSCHMELZE have established commercial magnet capacity in South Carolina. India is also supporting integrated domestic production to reduce reliance on imported finished magnets.
• Recycling provides another strategic opportunity. Recovery from manufacturing scrap and end-of-life electric vehicle motors can retain valuable rare-earth materials within the automotive supply chain. Closed-loop recovery can reduce exposure to newly mined materials when scrap can be efficiently separated and returned to magnet or alloy production.
• At the same time, manufacturers must manage the competitive threat from rare-earth-free motor technologies. Permanent-magnet motors retain advantages in efficiency and compactness, but alternative architectures may gain adoption in applications where supply security, material costs, or motor design requirements favor magnet-free solutions.

Conclusion

• The Rare Earth Permanent Magnets for EV Traction Motors Market is expected to expand strongly from USD 2.45 billion in 2026 to USD 4.75 billion by 2031. Rising electric vehicle production, demand for compact high-efficiency traction motors, and increasing use of dual- and multi-motor platforms will support market growth. However, supply concentration, export controls, heavy rare-earth availability, and rare-earth-free motor technologies will shape the competitive environment. Technology development is therefore focused on reducing heavy rare-earth intensity, improving magnet performance, expanding regional manufacturing, and increasing recycling. The market outlook will depend on the balance between continued permanent-magnet adoption and the development of more diversified and resilient EV motor supply chains.

Key Benefits of this Report

• Insightful Analysis: Detailed market insights across regions, customer segments, policies, socio-economic factors, consumer preferences, and industry verticals.
• Competitive Landscape: Understand strategic moves by key players to identify optimal market entry approaches.
• Market Drivers and Future Trends: Assess major growth forces and emerging developments shaping the market.
• Actionable Recommendations: Support strategic decisions to unlock new revenue streams.
• Caters to a Wide Audience: Suitable for startups, research institutions, consultants, SMEs, and large enterprises.

What Businesses Use Our Reports For

• Industry and market insights, opportunity assessment, product demand forecasting, market entry strategy, geographical expansion, capital investment decisions, regulatory analysis, new product development, and competitive intelligence.

Report Coverage

• Historical data from 2021 to 2024, Base year 2025, and Forecast years from 2026 to 2031
• Growth opportunities, challenges, supply chain outlook, regulatory framework, and trend analysis
• Competitive positioning, strategies, and market share evaluation, and trade analysis
• Revenue growth and forecast assessment across segments and regions
• Company profiling including strategies, products, financials, and key developments

TABLE OF CONTENTS

1. EXECUTIVE SUMMARY

2. MARKET SNAPSHOT

• 2.1. Market Overview
• 2.2. Market Segmentation

3. BUSINESS LANDSCAPE

• 3.1. Market Drivers
  • 3.1.1. Electric Vehicle Production Continues to Expand Magnet Demand
  • 3.1.2. China's Downstream Dominance Raises the Value of Supply Security
  • 3.1.3. Heavy Rare-Earth Reduction Is Becoming a Core Design Objective
• 3.2. Market Restraints
  • 3.2.1. Rare-Earth-Free Motor Architectures Create a Long-Term Substitution Risk
• 3.3. Market Opportunities
• 3.4. Porter's Five Forces Analysis
• 3.5. Industry Value Chain Analysis
• 3.6. China Export Controls and Supply-Chain Exposure

4. TECHNOLOGICAL OUTLOOK

• 4.1. Sintered NdFeB Magnets
• 4.2. Heavy Rare-Earth Lean Magnets
• 4.3. Recycled Rare-Earth Magnets
• 4.4. Magnet-Free Motor Substitution

5. GLOBAL RARE-EARTH PERMANENT MAGNETS FOR EV TRACTION MOTORS MARKET BY MAGNET TYPE

• 5.1. Sintered NdFeB
• 5.2. Bonded NdFeB
• 5.3. Other Rare-Earth Permanent Magnets

6. GLOBAL RARE-EARTH PERMANENT MAGNETS FOR EV TRACTION MOTORS MARKET BY RARE-EARTH INPUT

• 6.1. Neodymium-Praseodymium
• 6.2. Dysprosium
• 6.3. Terbium
• 6.4. Other Rare-Earth Inputs

7. GLOBAL RARE-EARTH PERMANENT MAGNETS FOR EV TRACTION MOTORS MARKET BY VEHICLE TYPE

• 7.1. Passenger Battery Electric Vehicles
• 7.2. Plug-in Hybrid Electric Vehicles
• 7.3. Commercial Electric Vehicles
• 7.4. Electric Two- and Three-Wheelers

8. GLOBAL RARE-EARTH PERMANENT MAGNETS FOR EV TRACTION MOTORS MARKET BY MOTOR CONFIGURATION

• 8.1. Single-Motor Vehicles
• 8.2. Dual-Motor Vehicles
• 8.3. Multi-Motor Vehicles

9. GLOBAL RARE-EARTH PERMANENT MAGNETS FOR EV TRACTION MOTORS MARKET BY GEOGRAPHY

• 9.1. North America
  • 9.1.1. United States
  • 9.1.2. Canada
  • 9.1.3. Mexico
• 9.2. South America
  • 9.2.1. Brazil
  • 9.2.2. Argentina
  • 9.2.3. Rest of South America
• 9.3. Europe
  • 9.3.1. Germany
  • 9.3.2. United Kingdom
  • 9.3.3. France
  • 9.3.4. Italy
  • 9.3.5. Rest of Europe
• 9.4. Middle East and Africa
  • 9.4.1. Saudi Arabia
  • 9.4.2. United Arab Emirates
  • 9.4.3. South Africa
  • 9.4.4. Rest of Middle East and Africa
• 9.5. Asia Pacific
  • 9.5.1. China
  • 9.5.2. Japan
  • 9.5.3. India
  • 9.5.4. South Korea
  • 9.5.5. Rest of Asia Pacific

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 10.1. Major Players and Strategy Analysis
• 10.2. Market Share Analysis
• 10.3. Capacity Expansion, Supply Agreements and Recycling
• 10.4. Competitive Dashboard

11. COMPANY PROFILES

• 11.1. JL MAG Rare-Earth Co., Ltd.
• 11.2. Ningbo Yunsheng Co., Ltd.
• 11.3. Beijing Zhong Ke San Huan High-Tech Co., Ltd.
• 11.4. Earth-Panda Advanced Magnetic Material Co., Ltd.
• 11.5. Shin-Etsu Chemical Co., Ltd.
• 11.6. Proterial, Ltd.
• 11.7. TDK Corporation
• 11.8. Daido Steel Co., Ltd.
• 11.9. VACUUMSCHMELZE GmbH / eVAC Magnetics
• 11.10. MP Materials Corp.
• 11.11. Neo Performance Materials Inc.
• 11.12. Noveon Magnetics Inc.
• 11.13. Arnold Magnetic Technologies
• 11.14. USA Rare Earth, LLC
• 11.15. Magnequench
• 11.16. Less Common Metals Ltd.
• 11.17. Yantai Zhenghai Magnetic Material Co., Ltd.
• 11.18. Zhejiang Innuovo Magnetics Co., Ltd.

12. RECENT DEVELOPMENTS

13. APPENDIX

• 13.1. Currency
• 13.2. Assumptions
• 13.3. Base and Forecast Years Timeline
• 13.4. Abbreviations