Magnetic Components Market Predicted to Reach USD 8.93 Billion by 2032 Fueled by Growth in Smartphone Penetration and 5G Technology Adoption

The global Magnetic Components market, which was valued at USD 5.66 Billion in 2023, is expected to grow significantly and reach USD 8.93 Billion by 2032. According to a recent report published by Dataintelo, the market is set to expand at a compound annual growth rate (CAGR) of 5.2% between 2024 and 2032. This notable growth can be credited to the increased demand for 5G technology and the rising global penetration of mobile phones.

One of the main driving forces for the increased market size for magnetic components is the growing numbers of smartphones users around the globe. Magnetic components like inductors and transformers are vital parts of a smartphone's internal hardware, utilized in various functions such as power conversion, signal transformation, and data storage. Therefore, the worldwide increasing penetration of smartphones significantly contributes to the growth of the magnetic components market.

The expected advancements in 5G technology are also anticipated to foster the need for magnetic components. As mobile technology continues to progress, it creates a demand for innovative magnetic components that can support advanced features and improved performances. With the anticipation of 5G technology taking over the telecom sector, there is a predicted surge for magnetic components that can handle higher frequencies and more data.

Dataintelo's report offers an extensive analysis of the magnetic components market, providing vital insights for businesses, stakeholders, and individuals interested in or operating within this market. The report details current trends, future predictions, industry challenges, opportunities for growth, and potential investment areas within the market

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/127217

𝐓𝐡𝐢𝐬 𝐢𝐬 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

The 𝐦𝐚𝐠𝐧𝐞𝐭𝐢𝐜 𝐜𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 has been segmented on the basis of𝐓𝐲𝐩𝐞
● Hard Magnetic Component
● Soft Magnetic Component

𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧
● Alloys
● Ceramics
● Others

𝐒𝐡𝐚𝐩𝐞
● Toroidal
● E-core
● U-core
● Others

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
● Transformers
● Inductors
● Motors
● Generators
● Sensors

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥
● Automotive
● Aerospace
● Consumer Electronics
● Energy
● Healthcare

𝐑𝐞𝐠𝐢𝐨𝐧
● Asia Pacific
● North America
● Latin America
● Europe
● Middle East & Africa

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
● Chilisin
● Dexter Magnetic Holdings, LLC
● 𝐊𝐘𝐎𝐂𝐄𝐑𝐀 𝐀𝐕𝐗 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
● 𝐌𝐢𝐬𝐮𝐦𝐢 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
● Murata Manufacturing Co., Ltd
● SAGAMI ELEC CO., LTD.
● Sumida Corporation
● Sunlord
● Taiyo Yuden CO., LTD.
● TDK Corporation

Segment Analysis:

The Magnetic Components market is broken down based on type, material composition, shape, application, and industry verticals. In terms of type, it includes hard magnetic and soft magnetic components. The hard magnetic components are known for their ability to maintain a magnetic field without power and are primarily used in permanent magnet and recording media applications. On the other hand, the soft magnetic components, known for their easy magnetization and demagnetization, are predominantly utilized in alternators, transformers, and electric motors.

By material composition, the market is segmented into alloys, ceramics, and others. While alloy-based magnetic components offer high magnetic saturation and low core loss, those made of ceramics have better heat resistance and electrical resistance properties. The market is also classified based on shape into toroidal, E-core, U-core, and others. Each shape has its own unique feature for specific applications.

Regional Analysis:

Asia Pacific is leading the market for magnetic components due to the presence of a large number of electronics manufacturing units and increasing technological advancements. The region has witnessed a surge in demand from industry verticals such as automotive, aerospace, and consumer electronics, which extensively use magnetic components. Besides, the significant growth in renewable energy sources has also contributed to increased demand for magnetic components.

North America and Europe also hold a substantial share in the global Magnetic Components market. The use of magnetic components in industries such as healthcare, energy, automotive, and defense in these regions is high. At the same time, regions like Latin America, and Middle East & Africa are also expected to see sturdy growth due to the increasing demand for cleaner and more efficient energy systems, which require magnetic components. The market's landscape is highly competitive with key players including Chilisin, Dexter Magnetic Holdings, LLC, KYOCERA AVX Components Corporation, and others striving for a significant market share through continuous innovation

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/127217

Market Drivers for Magnetic Components Market:

1. Increasing demand for advanced consumer electronics: The growing demand for advanced technologies in consumer electronics such as televisions, smartphones, and computers drives the market growth of magnetic components.

2. Rapid industrialization and urbanization: The rapid industrialization in developing countries has led to an increase in demand for power infrastructures, which use magnetic components such as transformers and inductors.

3. Technological Advancements: With the advent of technologies like 5G, IoT, AI, and more, the demand for sophisticated magnetic components that can support these technologies has increased.

4. Automotive sector growth: With the increasing development and sales of electric vehicles, the demand for magnetic components is also increasing.

5. Renewable Energy Surge: The escalating demand for renewable energy and the need for energy-efficient magnetic components that can handle high frequencies and high temperatures is driving the market.

Opportunities for Magnetic Components Market:

1. Increasing Demand for Electric Vehicles: The worldwide shift towards electric and hybrid vehicles presents a huge opportunity for the magnetic components market as these vehicles require a number of magnetic components for their operation.

2. Growth in Renewable Energy Sector: The increasing investment and use of renewable energy sources provides a significant opportunity for expansion in the magnetic components market.

3. Advancement in Technologies: The launch of advanced technologies, such as 5G networks and the IoT, provides significant growth opportunities for the magnetic components.

4. Increasing Usage in Medical Devices: With the growth of the healthcare sector and an increase in the production of medical devices, there is a potential for significant expansion of the magnetic components market.

5. Investment in R&D: Companies investing in researching and developing newer magnetic materials with better magnetic properties can gain competitive advantage and tap into new market opportunities

𝐘𝐨𝐮 𝐜𝐚𝐧 𝐝𝐢𝐫𝐞𝐜𝐭𝐥𝐲 𝐛𝐮𝐲 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐟𝐫𝐨𝐦: https://dataintelo.com/checkout/127217

This report should be purchased by businesses, researchers, students, analytics companies, industry experts, consultants, investment analysts, business development experts, and anyone interested in gaining a deeper understanding of their respective industry or market.

Dataintelo is a reputable company known for offering extensive market research reports. They have a skilled and experienced research team that conducts a thorough analysis to provide the most accurate market forecasts.

Dataintelo's reports are highly precise and reliable, making them beneficial for various businesses to understand their market better and strategize accordingly. Plus, they have a broad range of coverage, touching on many different industry sectors. Their reports are easy to understand and are presented in a professionally organized layout, making it easier to interpret the data and results.

Additionally, Dataintelo continually updates its database to reflect the most recent trends and provides customized reports to meet specific client needs. They also have excellent customer service ready to assist with any inquiries. Dataintelo is committed to ensuring user satisfaction with their high-quality and comprehensive reports

Contact Us :
Dataintelo
Name - Alex Mathews
Phone No.: +1 909 414 1393
Email - sales@dataintelo.com
Website - https://dataintelo.com
Address - 500 East E Street, Ontario, CA 91764, United States.

𝐑𝐞𝐩𝐨𝐫𝐭 𝐜𝐚𝐧 𝐛𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐚𝐬 𝐩𝐞𝐫 𝐲𝐨𝐮𝐫 𝐧𝐞𝐞𝐝.

𝐄𝐦𝐚𝐢𝐥 𝐮𝐬 𝐨𝐧 - 𝐬𝐚𝐥𝐞𝐬@𝐝𝐚𝐭𝐚𝐢𝐧𝐭𝐞𝐥𝐨.𝐜𝐨𝐦

𝐀𝐛𝐨𝐮𝐭 𝐃𝐚𝐭𝐚𝐢𝐧𝐭𝐞𝐥𝐨:

𝐃𝐚𝐭𝐚𝐢𝐧𝐭𝐞𝐥𝐨 boasts extensive experience in creating tailored Market research reports across diverse industry verticals. With in-depth Market analysis, creative business strategies for new entrants, and insights into the current Market scenario, our reports undergo intensive primary and secondary research, interviews, and consumer surveys.

This release was published on openPR.