Global Soft Magnetic Composites (SMCs) Market Size By Product, By Application, By Geographic Scope And Forecast
Soft Magnetic Composites (SMCs) Market Size And Forecast
Soft Magnetic Composites (SMCs) Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.
Global Soft Magnetic Composites (SMCs) Market Overview
Nowadays, manufactures are trying to optimize electric motors by leveraging net generation soft magnetic composites to save operation costs and comply with energy efficiency regulations & standards imposed on utility equipment. The increasing adoption of electric motors to reduce power consumption has led to the increasing use of soft magnetic composites in new equipment to save additional upfront costs. The conventional laminated cores in electric machines are being replaced with soft magnetic composites by manufacturers. Owing to these factors the growth of soft magnetic composites is growing exponentially over the forecast period. The trend of electric vehicles is gaining traction across the globe. The demand for compact and lightweight auto components has been up surging which has led to electrical vehicle manufacturers in using soft magnetic composites core to boos the convertor of the motor drive system in hybrid electric vehicles. These are the factors that are identified which are propelling the growth of the global soft magnetic composites market.
Global Soft Magnetic Composites (SMCs) Market: Segmentation Analysis
The Global Soft Magnetic Composites (SMCs) Market is segmented based on Product, Application, and Geography.
Key Players In Soft Magnetic Composites (SMCs) Market
The Global Soft Magnetic Composites (SMCs) Market study report will provide a valuable insight with an emphasis on the global market. The major players in the market are
- Steward Advanced Materials Inc
- GKN Sinter Metals
- Dexter Magnetics
- MMG Canada Limited
- Elna Magnetics
- Hitachi Metals Ltd
- Hgans AB
- Arnold Magnetic Technologies Corp
- Electron Energy Corporation
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