NdFeB Magnets: What are the application prospects in the field of electric vehicles?

The application prospects of NdFeB Magnets (neodymium iron boron magnets) in the field of electric vehicles look quite broad and have great potential.
First of all, new energy vehicles, especially electric passenger vehicles, have been the main growth point for high-performance NdFeB applications in recent years. Based on past growth trends and industry forecasts, the electric passenger vehicle market may grow at an average annual rate of as high as 26% over the next ten years. This will directly lead to a substantial increase in the demand for NdFeB magnets in electric vehicles.
However, this trend also faces some challenges. On the one hand, the risk of shortage of rare earth resources may lead to a tightening of the supply of neodymium raw materials, thereby accelerating the development of alternative products for NdFeB magnets. On the other hand, with the development of science and technology and the advancement of generator technology, the application intensity of NdFeB in various fields such as electric vehicles may gradually decrease in the future. Nonetheless, judging from current trends, the application of NdFeB magnets in the field of electric vehicles still has huge potential.
In addition, with the development of new technologies such as 48V electrical platforms, electric vehicles will become more intelligent, which will also provide more opportunities for the application of NdFeB magnets. For example, the 48V electrical platform makes the car a complete computer concept, which will be suitable for the embedding of large AI models, which will further promote the demand for high-performance NdFeB magnets in electric vehicles.
In summary, despite facing some challenges, the application prospects of NdFeB Magnets in the field of electric vehicles are still quite broad. With the continuous expansion of the electric vehicle market and technological advancement, the application of NdFeB magnets will become more and more widespread, and its market prospects will also become broader and broader.