where falling magnet induces current in the cooper pipe due to induction

phenomenon. Magnetic field intensity increases as the magnet approaches the pipe
and magnetic field intensity decreases as the magnet moves away from the pipe.
Current produced due to induction circulates around the perimeter of cooper pipe
and that makes it like an electromagnet. This electromagnet produces its own
magnetic field. New generated magnetic field is opposite in direction to the field
of falling magnet.
The whole process results in a repulsion force, which acts to push the magnet up
like there are two same poles of magnet are brought close together. Therefore, the
net force on this falling magnet is lower than that of gravity and so the magnet
falls more slowly in the cooper pipe.