According to our (Global Info Research) latest study, the global Scrap Lifting Magnets market size was valued at US$ 389 million in 2025 and is forecast to a readjusted size of US$ 490 million by 2032 with a CAGR of 2.9% during review period.
In 2025, global sales of Scrap Lifting Magnets are estimated at approximately 210,000 units, with an average price of around $1,800 per unit.
Scrap-handling lifting magnets are lifting devices that utilize electromagnetic or controllable permanent magnetic force to pick up, transport, load/unload, and sort scrap steel, cast iron parts, steel chips, and other ferromagnetic waste; they are typically used in conjunction with cranes, excavators, or material handling machinery. As specialized equipment that employs electromagnetic principles to lift materials, lifting magnets have become indispensable tools for handling ferromagnetic materials in sectors such as metallurgy, mining, machinery manufacturing, shipbuilding, and transportation. Additionally, they are utilized in applications such as electromagnetic robotic grippers, magnetic centering, and fixed-length bar cutting. Scrap-handling lifting magnets are widely used in the scrap steel processing and recycling industry.
Upstream components primarily include magnetically permeable steel, copper or aluminum windings, insulation materials, power control systems, housings, and mechanical connectors. Downstream applications mainly span sectors such as scrap steel recycling, iron and steel smelting, casting and processing, port loading and unloading, and industrial solid waste treatment.
Key market drivers include the following:
Growth of the scrap steel recycling and recycled metal industries
As the steel industry increases its utilization of scrap steel, it reduces the consumption of raw materials such as iron ore and coke, while also lowering energy usage and environmental emissions during the smelting process. With the continuous rise in scrap from end-of-life vehicles, building demolition, retired machinery, and industrial offcuts, there is growing demand for material handling during the recycling, sorting, stockpiling, and furnace-charging stages. Scrap lifting magnets—capable of lifting large quantities of irregularly shaped ferromagnetic scrap in a single pass—reduce the need for manual hooking or mechanical grabbing operations and improve processing efficiency; consequently, they have become essential loading and unloading equipment for scrap yards, steel mills, and foundries.
Automation in material handling driving equipment upgrades
Scrap handling environments often present risks such as dust, high temperatures, sharp materials, falling heavy objects, and limited visibility for personnel, making traditional manual-assisted loading and unloading methods less safe. Steel enterprises and recycling facilities are advancing the adoption of unmanned cranes, remote control systems, automated batching, and intelligent stockyard management. This trend is driving the deep integration of scrap lifting magnets with crane control systems, weighing systems, visual recognition technology, and production scheduling platforms. Market demand is shifting from basic lifting and releasing functions toward features such as adjustable magnetic force, rapid demagnetization, overheat protection, status monitoring, and fault early warning; this trend drives the adoption of intelligent magnet products characterized by high duty cycles and superior reliability.
High-Temperature, Heavy-Duty Operations Enhance Product Value
Scrap metal generated during iron and steel smelting, continuous casting, rolling, and foundry processes is typically characterized by high temperatures, complex shapes, loose stacking, and significant weight fluctuations. These conditions place stringent demands on magnets regarding magnetic field penetration depth, heat-resistant insulation, structural integrity, and continuous operational capability. Standard magnets are prone to issues such as coil overheating, insulation degradation, and reduced lifting force under conditions of high temperatures and frequent energization, prompting users to adopt high-temperature, deep-field, and high-duty-cycle models. Furthermore, features such as backup power supplies, electro-permanent magnet technology, and power-loss holding capabilities mitigate the risk of material drops caused by unexpected power outages; rising safety standards will further accelerate the replacement of aging equipment with high-end products.
Report Scope
This report is a detailed and comprehensive analysis for global Scrap Lifting Magnets market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Scrap Lifting Magnets market size and forecasts, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2021-2032
Global Scrap Lifting Magnets market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2021-2032
Global Scrap Lifting Magnets market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2021-2032
Global Scrap Lifting Magnets market shares of main players, shipments in revenue ($ Million), sales quantity (Units), and ASP (US$/Unit), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Scrap Lifting Magnets
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Scrap Lifting Magnets market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Walker Magnetics (Industrial Magnetics), Elektromag, Kanetec, Sumitomo Heavy Industries, Kakku E & P Control Co., Braillon Magnetics, SGM Magnetics, Gauss Magneti, ADOBA GMBH, GENSCO EQUIPMENT, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Scrap Lifting Magnets market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Rectangular Magnets
Circular Magnets
Market segment by Rated Lifting Capacity
≤5 tons
>5–15 tons
>15–30 tons
>30 tons
Market segment by Functional Category
General-Purpose Scrap Handling Magnet
Deep-Field Scrap Magnet
High-Temperature Scrap Magnet
Other
Market segment by Application
Foundry Industries
Recycling Industries
Others
Major players covered
Walker Magnetics (Industrial Magnetics)
Elektromag
Kanetec
Sumitomo Heavy Industries
Kakku E & P Control Co.
Braillon Magnetics
SGM Magnetics
Gauss Magneti
ADOBA GMBH
GENSCO EQUIPMENT
MOLEY MAGNETICS
Winkle Industries
YATE Magnetics
Magnetic Lifting Technologies US (MLTUS)
Evertz Group
Sinfonia Technology
Electro Magnetic Industries
Zanetti Magneti
WOKO (Heppenstall Technology)
Papko Magnet Co.
Ohio Magnetics
Sarda Magnets
Walmag Magnetics
Hunan Kemeida Electric
LONGi Magnet Co., Ltd
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Chapter Outline
Chapter 1, to describe Scrap Lifting Magnets product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Scrap Lifting Magnets, with price, sales quantity, revenue, and global market share of Scrap Lifting Magnets from 2021 to 2026.
Chapter 3, the Scrap Lifting Magnets competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Scrap Lifting Magnets breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and Scrap Lifting Magnets market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Scrap Lifting Magnets.
Chapter 14 and 15, to describe Scrap Lifting Magnets sales channel, distributors, customers, research findings and conclusion.
Summary:
Get latest Market Research Reports on Scrap Lifting Magnets. Industry analysis & Market Report on Scrap Lifting Magnets is a syndicated market report, published as Global Scrap Lifting Magnets Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032. It is complete Research Study and Industry Analysis of Scrap Lifting Magnets market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.