The Global Hybrid Vehicle Permanent Magnets Market was valued at USD 4.83 Billion in 2025 and is projected to reach USD 8.12 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period (2024–2034). This growth is fueled by the rapid expansion of electric and hybrid vehicle production, increasing demand for high-performance motors, and technological advancements in rare-earth magnet materials.

As automotive electrification accelerates globally, permanent magnet manufacturers are scaling up production capacities and innovating new material solutions. In this blog, we profile the Top 10 Companies in the Hybrid Vehicle Permanent Magnets Industry—key players supplying the critical magnetic components for hybrid and electric vehicle motors and systems.

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🔟 1. Proterial, Ltd. (Formerly Hitachi Metals)

Headquarters: Tokyo, Japan
Key Offering: NEOMAX® NdFeB Magnets, SmCo Magnets

Proterial is a global leader in high-performance permanent magnets, supplying over 20% of the hybrid/electric vehicle magnet market. Their NEOMAX brand offers industry-leading coercivity and temperature resistance for automotive traction motors.

Key Innovations:

• World’s first fully consolidated NdFeB magnet supply chain
• Proprietary grain boundary diffusion technology
• 25% market share in EV magnet applications

Download FREE Sample Report: Hybrid Vehicle Permanent Magnets Market – View in Detailed Research Report

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9️⃣ 2. Shin-Etsu Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: SE Magnets (NdFeB)

Shin-Etsu dominates the rare-earth chemical supply chain and produces premium NdFeB magnets with exceptional magnetic properties. Their vertically integrated operations allow tight control over raw material supply.

Key Strengths:

• Global production capacity exceeding 8,000 tons/year
• Specialized grades for high-temperature EV applications
• Strategic partnerships with all major Japanese automakers

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8️⃣ 3. TDK Corporation

Headquarters: Tokyo, Japan
Key Offering: Neoquench® DR Series Magnets

TDK’s magnetic solutions division supplies advanced NdFeB magnets optimized for automotive traction motors. Their DR series offers excellent thermal stability for demanding hybrid/electric vehicle applications.

Notable Developments:

• 50% reduction in dysprosium usage through material innovation
• Automated production lines for automotive-grade consistency
• Expanding European production capacity

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7️⃣ 4. Vacuumschmelze GmbH & Co. KG

Headquarters: Hanau, Germany
Key Offering: VACODYM® NdFeB Magnets

VAC is Europe’s leading permanent magnet producer, supplying high-grade NdFeB solutions for hybrid and electric vehicles. Their materials enable more compact, efficient motor designs.

Key Advantages:

• Patented high-coercivity magnet formulations
• Automotive-grade production quality standards
• Strategic partnerships with European OEMs

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6️⃣ 5. Daido Steel Co., Ltd

Headquarters: Nagoya, Japan
Key Offering: NeoMag® NdFeB Magnets

Daido Steel combines material science expertise with advanced manufacturing to produce high-performance magnets for hybrid vehicle motors. Their NeoMag products excel in demanding automotive environments.

Recent Developments:

• New magnet plant operational in Vietnam (2023)
• Focus on reduced rare-earth content formulations
• Automotive qualification with major Japanese OEMs

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5️⃣ 6. Beijing Zhong Ke San Huan Hi-Tech Co., Ltd.

Headquarters: Beijing, China
Key Offering: Sintered NdFeB Magnets

As China’s largest rare-earth magnet producer, Zhong Ke San Huan supplies the fast-growing domestic EV market. The company holds key patents in magnet production processes.

Market Position:

• 35,000+ ton annual production capacity
• Strategic supplier to Chinese EV makers
• Government-supported R&D initiatives

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4️⃣ 7. MP Materials

Headquarters: Las Vegas, Nevada, USA
Key Offering: Rare earth materials & Magnets

MP Materials is restoring the U.S. rare earth supply chain from mine to magnet. Their new magnet factory will supply North American hybrid/EV production.

Strategic Moves:

• First U.S. rare earth separation plant in decades
• $700M investment in magnet manufacturing
• Multi-year supply agreements with automakers

Download FREE Sample Report: Hybrid Vehicle Permanent Magnets Market – View in Detailed Research Report

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3️⃣ 8. Arnold Magnetic Technologies

Headquarters: Rochester, New York, USA
Key Offering: NeoCo® Magnets

Arnold Magnetic provides engineered magnetic solutions for automotive applications, with specialized grades for hybrid vehicle traction motors and auxiliary systems.

Technical Capabilities:

• Custom magnetic circuit design services
• Proprietary corrosion-resistant coatings
• ISO/TS 16949 certified production

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2️⃣ 9. Electron Energy Corporation

Headquarters: Landisville, Pennsylvania, USA
Key Offering: EEC Magnets (SmCo & NdFeB)

EEC manufactures high-performance rare-earth magnets for defense and automotive applications, including specialized solutions for hybrid vehicle powertrains.

Specializations:

• Mission-critical magnetic solutions
• High-temperature magnet formulations
• ITAR-controlled production facilities

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1️⃣ 10. Yantai Zhenghai Magnetic Material Co., Ltd.

Headquarters: Yantai, China
Key Offering: Sintered NdFeB Magnets

As one of China’s top magnet producers, Yantai Zhenghai supplies the domestic hybrid/EV market with cost-competitive NdFeB solutions at scale.

Production Capacity:

• 15,000+ ton annual output
• Vertically integrated rare earth operations
• Automotive-grade manufacturing lines

Get Full Report Here: Hybrid Vehicle Permanent Magnets Market – View in Detailed Research Report

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🔋 Outlook: The Future of Hybrid Vehicle Permanent Magnets

The hybrid vehicle magnet market is undergoing rapid transformation as automakers demand higher performance, more sustainable materials, and resilient supply chains. With tightening emissions regulations globally, permanent magnets will remain critical components in electrified drivetrains.

📈 Key Trends Shaping the Market:

• Accelerating EV adoption driving 7x growth in magnet demand by 2030
• New high-coercivity magnet formulations reducing rare earth dependency
• Regional magnet production expansion in North America and Europe
• Automaker investments in secure magnet supply chains

Get Full Report Here: Hybrid Vehicle Permanent Magnets Market – View in Detailed Research Report

The companies profiled above are at the forefront of developing and manufacturing the advanced magnetic materials powering the global transition to hybrid and electric mobility.