Intensive research & development amid key stakeholders to satiate favorable applications will remain significant in the soft ferrite market space.
ROCKVILLE, MD / ACCESSWIRE / October 13, 2020 / The soft ferrite market is poised to record at a promising CAGR of 6% throughout the assessment period, 2020-2030. The market growth is chiefly attributed to the rising electrical equipment installation all over several regions.
"Increasing investments in the power sector is a vital aspect for the expansion of the soft ferrite market," says the Fact.MR report.
Soft Ferrite Market - Key Takeaways
- In terms of product, the manganese-zinc ferrite will witness an increase in the demand set to be observed through the mid-term assessment period.
- Based on applications, motors will be attaining the majority of the market share, with a nominal growth pace throughout the assessment period.
- In terms of region, the APEJ is touted to be the frontrunner of the global market in the coming years mainly due to the rising consumption of soft ferrite.
- North America will be exhibiting a CAGR of 6% due to an increment in electrical equipment production in the region.
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Soft Ferrite Market - Driving Factors
- Growing usage of soft ferrite to enhance power supply efficiency with minimized power transformer losses is a key factor driving the growth
- Increasing economies of scale and consumer confidence are major points for improving market share on global and regional levels.
- The market is poised to gain momentum once units related to the manufacturing and electrical sector resume operations to the full amid the COVID_19 pandemic.
Soft Ferrite Market - Constraints
- Difficulty in minimizing eddy current losses is the foremost challenge encountered by the majority of the producers in the market.
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 pandemic has adversely impacted soft ferrite market revenue in 2020 and has dampened due to disruptions in the supply chain. Thus restraining the demand for the soft ferrite market. Examining the present scenario, the worldwide economy might take years to pull through from the current recession.
Explore the Soft Ferrite market comprising of 103 figures and 109 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/2449/soft-ferrite-market
Competition Landscape
Leading players operating in the global Soft Ferrite market are Hitachi Metals Ltd, Voestalpine Stahl GmbH, PMG Holding GmbH, Toshiba Corp (Toshiba Materials Co., Ltd.), Höganäs AB, VACUUMSCHMELZE GmbH & Co. KG , GKN Plc, Hengdian Group DMEGC Magnetics Co., Ltd., and Rio Tinto PLC.
More on the Report
The FACT.MR's market research report provides in-depth insights into the Soft Ferrite market. The market is scrutinized based on product (manganese and zinc ferrite (Mn-Zn Ferrite), nickel zinc ferrite (Ni-Zn Ferrite), and application (transformers, motors, inductors, and generators), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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SOURCE: Fact.MR