Magnetic components are essential elements in electrical engineering, primarily used to manage and manipulate magnetic fields. They include devices like inductors and transformers, which play crucial roles in power conversion and signal processing. These components are designed to store energy in a magnetic field and transfer it efficiently between circuits. The functionality of magnetic components relies on the principles of electromagnetism, where electric currents create magnetic fields. By utilizing materials with high magnetic permeability, such as ferrites and iron, these components can enhance performance and reduce energy losses, making them vital in various applications, from power supplies to audio equipment.