Permanent magnet elevator motor is a key component of the elevator system. It utilizes permanent magnet materials to generate a magnetic field and drives the elevator's operation through the principle of electromagnetic induction. Compared to traditional induction motors, permanent magnet elevator motors have advantages such as high efficiency, high power density, low noise, and low energy consumption. Therefore, they have been widely used in the modern elevator industry. China is the world's largest elevator market and also the largest supplier of permanent magnet elevator motor magnets globally. Here we list the Top 10 elevator motor magnet suppliers in China (also the Top 10 globally).
The list of Top 10 elevator motor magnet suppliers in China is as below:
- Ningbo Zhaobao Magnet Co., Ltd.
- NINGBO YUNSHENG Co., Ltd
- Beijing Zhong Ke San Huan Hi-Tech Co., Ltd.
- Yantai Zhenghai Magnetic Material Co., Ltd
- Yantai Dongxing Magnetic Materials Inc.
- Ningbo Ketai Magnetic Materials Co., Ltd
- Ningbo Giantank Magnet Co., Ltd.
- Ningbo Horizon Magnetic Technologies Co., Ltd.
- SDM Magnetics Co., Ltd.
- Ningbo Tongchuang Strong Magnet Material Co., Ltd.
1. Ningbo Zhaobao Magnet Co., Ltd.
Introduction: Ningbo Zhaobao Magnet Co., Ltd., here in after referred to as “ZHAOBAO MAGNET” is a leading brand in the China permanent magnet market for PM motor, with an annual production capacity of 8,000 tons of sintered NdFeB (Neodymium Iron Boron). Over 95% of the products are used in industrial automation, automotive, clean energy, and other high-end applications, especially in the elevator motor (traction machine) market. ZHAOBAO MAGNET supplies matching magnet for 300,000 elevator motors annually, making it the Top 1 magnet supplier for elevator motor in China and even all over the world. It has been recognized as a Manufacturing Champion by the Ministry of Industry and Information Technology (MIIT) of China.
ZHAOBAO MAGNET supplies magnets for world-renowned elevator motor brands such as HITACHI, Schindler, Xinda, Torindrive, Monadrive, etc.
Based on its excellent performance in China market, ZHAOBAO MAGNET is dedicated to providing superior permanent magnet solutions for the international market, offering more cost-effective magnets and services for global elevator motors, along with more reliable safety guarantees.
Established: 1998
Headquarters: Ningbo, China
Main Products: NdFeB rare earth permanent magnet
2. NINGBO YUNSHENG Co., Ltd
Introduction: Ningbo Yunsheng Co., Ltd., a renowned Chinese manufacturer, has been dedicated to the research, development, manufacturing, and sales of rare earth permanent magnet materials since 1995. Recognized as a national high-tech enterprise, it boasts an annual production capacity of 21,000 tons. With production facilities located in Ningbo and Baotou, the company operates billet production, machining, and surface treatment production lines. In October 2000, it achieved the milestone of being listed on the Shanghai Stock Exchange. Yunsheng Co., Ltd. is a leading supplier of rare earth permanent magnet materials, serving various industries, including as an elevator motor magnet supplier.
Established: 1995
Headquarters: Ningbo, China
Main Products:
- Sintered NdFeB
- Bonded NdFeB
3. Beijing Zhong Ke San Huan Hi-Tech Co., Ltd.
Introduction: Beijing Zhong Ke San Huan Hi-Tech Co., Ltd. ("Zhong Ke San Huan"), a Chinese manufacturer, was founded by Beijing San Huan Holdings Co., Ltd. (formerly known as Beijing San Huan New Materials High-tech Inc.) under the Chinese Academy of Sciences. Zhong Ke San Huan specializes in researching, developing, manufacturing, and marketing magnets and their application devices. Their primary products, Nd-Fe-B magnets, find widespread use in energy, transportation, machinery, IT, household appliances, consumer electronics, and more. The company's contribution to the global energy-saving and environmental protection industries has notably expanded the application of Nd-Fe-B magnets, including in hybrid vehicles, electric vehicles, energy-saving household appliances, robots, and wind power generation. Zhong Ke San Huan serves as an elevator motor magnet supplier, among its other roles in supplying magnetic materials for various applications.
Established: 1999
Headquarters: Beijing, China
Main Products:
- Sintered Nd-Fe-B Magnets
- Bonded Nd-Fe-B Magnets
4. Yantai Zhenghai Magnetic Material Co., Ltd
Introduction：Established in 2000 and listed on the ChiNext Market, a NASDAQ equivalent board (Stock code: 300224), Yantai Zhenghai Magnetic Material Co., Ltd. ("ZHmag") is a leading Chinese manufacturer specializing in the production and distribution of high-performance NdFeB permanent magnetic materials. ZHmag operates as an elevator motor magnet supplier, among its various roles in the magnetic materials industry. The company has implemented a "3456" system, encompassing 3 core technologies, 4 major competitiveness factors, 5 product advantages, and 6 key application markets. ZHmag has expanded its global presence by establishing subsidiaries in Germany, Japan, Korea, and the USA. In China, ZHmag operates five manufacturing facilities. With a nationally accredited corporate R&D center, a hi-tech center of excellence, and national and provincial engineering tech centers, ZHmag is recognized as a top-tier player in the global magnetic materials market.
Established: 2000
Headquarters: Yantai, China
Main Products: NdFeB permanent magnet
5. Yantai Dongxing Magnetic Materials Inc.
Introduction：Yantai Dongxing Magnetic Materials Inc. (YSM) is recognized as the sole company among manufacturers of magnetic materials in China approved and certified by the China National Development and Reform Commission under the "National High-tech Industrialization Demonstration Project on High Performance NdFeB Permanent Magnets." In April 2008, Japan Yaskawa Electric Co., Ltd. became an investor, transforming our company into a Sino-Japanese joint venture. YSM, operating as an elevator motor magnet supplier, boasts state-of-the-art facilities including the most advanced magnet block production line, machining process line, and surface treatment line imported from Germany, Japan, and the United States. Leveraging cutting-edge production techniques, YSM specializes in manufacturing high-performance, reliable, low heavy rare earth, and low weight loss sintered NdFeB magnets.
Established: 2000
Headquarters: Yantai, China
Main Products:
- Magnets for Elevator Motor
- Magnets for Wind Power Generator
- Magnets for Automotive motor
- Magnets for Cell Phone
6. Ningbo Ketai Magnetic Materials Co., Ltd
Introduction: Ningbo Ketai Magnetic Materials Co., Ltd. is a new high-tech enterprise based in China, specializing in the research and development, production, processing, and sales of NdFeB permanent magnet materials. Located in Ningbo, a port city in the Yangtze River Delta on the coast of the East China Sea, the company possesses self-managed import and export rights with an annual production and processing capacity of 1200 tons of high-performance NdFeB.
The company employs advanced anaerobic manufacturing processes, enabling the steady production of N52, N50M, 48H, 45SH, and other high-performance NdFeB magnets. Leveraging Ningbo's high post-processing capacity, the products are exported to Europe, America, Asia, and other regions, finding extensive applications in motor, communication, medical, electronic, instrument, magnetic separator, aerospace, and daily necessities industries. As an elevator motor magnet supplier, Ningbo Ketai Magnetic Materials Co., Ltd. provides reliable and high-quality magnetic solutions for the elevator industry.
Established: 2009
Headquarters: Ningbo, China
Main Products:
- Ferrite Magnets
- Flexible Magnets
- NdFeB Magnets
- SmCo Magnets
- AlNiCo Magnets
7. Ningbo Giantank Magnet Co., Ltd.
Introduction: Ningbo Giantank Magnet Co., Ltd. is a manufacturer of permanent magnets based in China, established in 2013. The company's mission is to conduct research and development and mass produce rare earth magnetic materials (Sintered NdFeB and SmCo Permanent Magnets).
Ningbo Giantank Magnet Co., Ltd. specializes in supplying custom magnets with the best cost performance for partners worldwide. The products are primarily utilized in high-effective and energy-saving PM motors, particularly in elevator motors, drive-motors for new energy automobiles (EV/electric cars), servo motors, compressor motors, wind turbines, and linear motors, among others. Additionally, their permanent magnets find extensive applications in electronic devices, electrical machines, medical equipment, magnetic separators, aerospace, and various other fields.
Established: 2013
Headquarters: Ningbo, China
Main Products:
- NdFeB Magnet
- SmCo Magnet
- AlNiCo Magnet
8. Ningbo Horizon Magnetic Technologies Co., Ltd.
Introduction: Ningbo Horizon Magnetic Technologies Co., Ltd. is a vertically integrated manufacturer of rare earth Neodymium magnets and their related magnetic assemblies. With unrivaled expertise and rich experience in the magnet field, the company offers customers a wide range of magnet products, from prototypes to mass production, providing cost-effective solutions.
Established: 2011
Headquarters: Ningbo, China
Main Products:
- Neodymium Magnet
- Samarium Cobalt Magnet
- Motor Magnet
- Precast Concrete Magnet
- Fishing Magnet
- Pot Magnet
9. SDM Magnetics Co., Ltd.
Introduction: For over 16 years, SDM Magnetics Co., Ltd. from China has maintained its commitment to excellence. Strategic partnerships with CHINALCO, China's top rare earth miner, ensure a reliable supply of raw materials. With certifications including IATF16949 and ISO9001, their products meet rigorous standards such as RoHS, REACH, and SGS compliance. As a Tier 2 supplier for General Motors since 2010, they've achieved a remarkable 0 PPM. Leveraging advanced automation in production and boasting a state-of-the-art R&D lab, SDM Magnetics continues to lead the industry as an elevator motor magnet supplier in quality and innovation.
Established: 2004
Headquarters: Hangzhou, China
Main Products:
- Sintered Neodymium Magnet
- Sintered Samarium Cobalt Magnet
- Bonded Magnet
- AlNiCo Magnet (Cast & Sintered)
- Magnetic Assemblies
10. Ningbo Tongchuang Strong Magnet Material Co., Ltd.
Introduction: Ningbo Tongchuang Strong Magnet Material Co., Ltd. is a prominent China-based supplier specializing in elevator motor magnet solutions. As a leading manufacturer and supplier of rare earth magnets, they excel in researching, manufacturing, and marketing sintered NdFeB magnets. With a focus on quality and innovation, they provide custom solutions to clients worldwide, leveraging patented technology to produce high-quality sintered neodymium iron boron (NdFeB) permanent magnets for various applications.
Established: 2004
Headquarters: Ningbo, China
Main Products: Sintered neodymium iron boron (NdFeB) permanent magnet and magnetic systems/assembly.
Analysis of China Permanent Magnet Elevator Motor Market
In recent years, with the acceleration of urbanization and the increase in high-rise buildings, the demand for elevators has continued to grow, directly driving the expansion of the permanent magnet elevator motor market. Data shows that China has become the global production base for permanent magnet motors, and both the output and market size of permanent magnet elevator motors have shown a stable growth trend. It is expected that in the coming years, with continuous technological progress and the expanding market demand, permanent magnet elevator motor market will continue to grow.
The urbanization process in China has propelled the rapid development of the Chinese elevator manufacturing industry. The number of elevators has increased from around 4.26 million units in 2017 to approximately 9.64 million units by 2023, with a compound annual growth rate of 11.38%. The demand for elevators in the Chinese market mainly stems from residential, commercial, and public buildings. The demand for elevators is expected to continue growing, driven by technological advancements and expanding application areas, fostering continuous innovation and development in elevator industry.
Due to the slowdown in the growth rate of China's real estate market in recent years, the development speed of the elevator industry has slowed to some extent. However, with the accelerated urbanization process, the renovation of old residential areas, the increase in urban population, and the increasing efforts in the construction of urban infrastructure such as rail transit, airports, and pedestrian bridges, the growth rate of the elevator industry has gradually increased, and elevator production has also shown a trend of rapid growth. In 2021, China's elevator production was 1.545 million units, and in 2022 and 2023, elevator production remained basically stable at 1.454 million units.
