Star Trace Private Limited, Kumar Magnet Industries and Ashvini Magnets Pvt. Ltd. dominated the India Rare Earth Magnet Market in 2021

India Rare Earth Magnet Market is expected to grow with a CAGR of 7.8% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.

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India rare earth magnet market is a highly consolidated market, which includes a specific number of key players as well as local players. The market has witnessed increased strategic developments owing to a favourable market scenario.

The major players dealing in India rare earth magnet market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

  • DURA MAGNETS PVT. LTD was certified with ISO 9001:2015 for their quality management systems and manufacturing higher quality products. This further helped the company to get recognized across the market.

Star Trace Private Limited is the dominating player in India rare earth magnet market. Some of the major players operating in this market are DURA MAGNETS PVT. LTD., Ashvini Magnets Pvt. Ltd., Shree Shakti Industries, JD MAGNETIC IMPEX, Magna Tronix, Kumar Magnet Industries, and Jai Mag Industries.

Star Trace Private Limited

Star Trace Private Limited is headquartered in Tamil Nadu, India, established in 1998. The company provides a broad range of products, including magnetic roll separators and wet drum magnetic separators. Their product categories include magnets products, industrial plants, magnetic equipment, vibrating screen, industrial feeders and conveyors, beneficiation equipment, magnetic drum separator, lifting magnets, medical oxygen plants, digital gaussmeter, solar products, plate magnets, gyratory screen separators, permanent magnetic lifter, suspension magnets. Their focused product category is magnets products.

  • In December 2021, Enphase Energy announced the acquisition of 365 Pronto, Inc. to provide their installers with the ability to service their O&M contracts with an on-demand network of service providers.

The company has a presence in India.

Kumar Magnet Industries

Kumar Magnet Industries is headquartered in Gujrat, India, established in 1986. The company is engaged in manufacturing magnetic products and offers a wide variety of products to its clients. The product categories include magnetic separator, funnel magnet, powerful magnet, hopper magnet, ferrite magnet, drawer magnet, liquid trap magnet, rare earth magnet, suspension magnet, grill magnet, pot magnet, high-intensity rare earth magnetic equipment, lifting magnets with cover, magnetic plate, permanent magnetic drum, magnetic floor sweeper, vibrating screening machine. Their focused product category includes rare earth magnets, high-intensity rare earth magnetic equipment, and neodymium magnet.

The company has a presence in India.

India Rare Earth Magnet Market

Ashvini Magnets Pvt. Ltd.

Ashvini Magnets Pvt. Ltd. is headquartered in Maharashtra, India, founded in 1999. The company provides the most advanced end-to-end capabilities to manufacture injection bonded molded magnets. Their product categories include ferrite magnets, injection bonded hybrid magnets, rare earth magnets, insert molded magnets, and over molded magnets. Their focused product contains rare earth magnets.

The company has a presence in India.