The magnetic circuit has been a popular and powerful tool to analyze the magnetic field in electromagnetic devices for a long history. However, in the conventional magnetic circuit there is only one kind of component namely reluctance, which cannot analyze the phase shift or the amplitude attenuation of the alternating flux in electromagnetic devices. In this article, a new physical concept of magnetic-inductance is proposed, based on which the alternating-flux magnetic circuit theory including two kinds of components namely reluctance and magnetic-inductance has been developed. Furthermore, the virtual magnetic power is defined as the analogue of electric power, and the magnetoelectric power law is derived for magnetic circuits. Using the proposed magnetic circuit theory with magnetic-inductance, the relationship between the electric power and the virtual magnetic power is revealed and the long-lasting confusions in previous magnetic circuit methods, i.e., power calculation and phase shifts of magnetic variables, are clarified. By experiments, the magnetic-inductance and the magnetoelectric power law are validated, and their applications in eddy current loss analysis and B-H curve estimation in magnetic materials are demonstrated.
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