New York, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The global Soft Ferrite Core Market is expected to witness significant growth at a CAGR of 5.7% during the forecast period of 2023-2030. This growth is attributed to the growing use of power electronics in high power industrial equipment for power conversion applications.
According to a recent report by Consegic Business Intelligence, the soft ferrite core market is poised for strong expansion and is expected to reach USD 2,937.05 million by 2030. The market, which was valued at USD 1,894.54 million in 2022, is projected to grow at a compound annual growth rate of 5.7% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the soft ferrite core market.
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Soft ferrite cores are a type of magnetic core made of ferrite, a ceramic material with high magnetic permeability and low electrical conductivity. These cores can be manufactured in various shapes and sizes to suit different application requirements. In addition to this, due to their comparatively low losses at high frequencies, these cores are extensively used in a wide range of electronic applications, including transformers and inductors. Soft ferrite cores are essential components in modern electronics, enabling efficient and reliable operation of various devices and equipment in high-frequency applications.
Global Soft Ferrite Core Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 2,937.05 Million |
| CAGR (2023-2030) | 5.7% |
| By Type | Manganese-Zinc Ferrite and Nickel-Zinc Ferrite |
| By End-Use Industry | Automotive, Electronics, Consumer Goods, Solar, Telecommunication, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | COSMO FERRITES LIMITED, MAGNETICS, Infantron Singapore, MMG India Pvt. Ltd, Shaanxi Gold-Stone Electronics Co.,Ltd, TOMITA ELECTRIC CO., LTD., PROTERIAL, Ltd., Samwha Capacitor Group, and Haining Ferriwo Electronics Co., Ltd. |
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Global Soft Ferrite Core Market Segmentation Details:
Based on Type, in 2022, the manganese-zinc ferrite segment contributed the largest market shares in the soft ferrite core market. The increasing use of manganese-zinc ferrite cores in the construction of power electronics is a key factor propelling segment growth. These cores play a vital role in converting and transmitting electrical energy for wind turbines. Wind energy generation has been growing significantly to meet the climate and environment goals. For instance, according to the report published by WindEurope, in 2022, new wind installations in Europe amounted to 19.1 GW, an increase of 4% compared with the previous year.
Based on End-Use Industry, in 2022, the electronics segment contributed the largest market shares in the soft ferrite core market. The growth of the segment is attributed to the extensive use of soft ferrite cores in electronics and electromagnetic applications due to their unique magnetic properties. These cores are used in various devices such as magnetic sensors, power amplifiers, communication devices, aerospace electronics, and many more. Hence, these advancing applications of soft ferrite cores are fostering segment growth.
Based on Region, in 2022, Asia Pacific accounted for the largest share contribution of 39.50% to the market growth. The growth of the soft ferrite core market in the region is attributed to the rapid growth of telecommunication, internet connectivity, and the adoption of 5G technology. For instance, according to the Mobile Economy report published by GSM Association, smartphone adoption in Asia Pacific is anticipated to grow to 84% in 2025 from 74% in 2021. Furthermore, the increasing adoption of electric vehicles in the region is another influencing factor that will aid to surge the demand for soft ferrite cores. For instance, according to the report published by the International Energy Agency, in 2021, over 2.7 million electric vehicles were sold in China, accounting for 82% of new electric car sales.
Competitive Landscape
COSMO FERRITES LIMITED, MAGNETICS, and Infantron Singapore among others are the major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the soft ferrite core market is expected to grow steadily due to the growing integration of electronics in medical devices. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Recent Developments
- In May 2021, Cosmo Ferrites Ltd. launched an improved version of CF295 for the power conversion industry.
- In January 2023, Proterial, Ltd. changed the company’s trade name from Hitachi Metals, Ltd.
Key Market Takeaways
- The global soft ferrite core market size is estimated to exceed USD 2,937.05 million by 2030 with a CAGR of 5.7% during the forecast period (2023-2030).
- Based on type, the manganese-zinc ferrite segment accounted for the highest market share in the soft ferrite core market statistics in 2022.
- Based on end-use industry, the electronics segment accounted for the highest market share of 27.50% in the soft ferrite core market statistics in 2022.
- Asia Pacific is expected to grow at the fastest CAGR of 6.1% during the forecast period due to the increasing adoption of electronic devices in the region.
- Asia Pacific accounted for the highest market share of 39.50% and was valued at USD 748.34 million and is expected to reach USD 1,166.01 million in 2030
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List of Major Global Soft Ferrite Core Market:
- COSMO FERRITES LIMITED
- MAGNETICS
- Infantron Singapore
- MMG India Pvt. Ltd
- Shaanxi Gold-Stone Electronics Co.,Ltd
- TOMITA ELECTRIC CO., LTD.
- PROTERIAL, Ltd.
- Samwha Capacitor Group
- Haining Ferriwo Electronics Co., Ltd.
Global Soft Ferrite Core Market Segmentation:
- By Type
- Manganese-Zinc Ferrite
- Nickel-Zinc Ferrite
- By End-Use Industry
- Automotive
- Electronics
- Consumer Goods
- Solar
- Telecommunication
- Others
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Frequently Asked Questions in the Soft Ferrite Core Market Report
- What was the market size of soft ferrite core in 2022?
- In 2022, the market size of soft ferrite core was USD 1,894.54 million.
- What will be the potential market valuation for soft ferrite core by 2030?
- In 2030, the market size of soft ferrite core is expected to reach 2,937.05 million.
- What is the key restraint hampering the growth of the soft ferrite core market?
- The presence of substitutes and alternatives to soft ferrite cores is likely to deter market growth.
- What is the dominant segment in the soft ferrite core market, by end-use industry?
- In 2022, the electronics segment accounted for the highest market share in the overall soft ferrite core market.
- Based on current market trends, which geographical region contributed the largest share in the market?
- Asia Pacific accounted for the largest market share in the soft ferrite core market.
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