Inductor Market is growing from USD 3.8 billion in 2023 to reach around USD 4.7 billion by 2028, registering a CAGR of 4.2% in the period of 2023-2028.
When an electric current flows through the inductor’s coil, the energy is stored in a magnetic field by a passive electronic component called the inductor. The simple inductor consists of two terminals and an insulated wire coil that loops around a core material to enhance the magnetic field. The fluctuations in the electric current passing through a circuit are handled by the inductor. The relationship between the electric current and magnetic field are used by the inductor to compensate for the changes in the current’s flow.
More frequent developments and innovations in consumer electronic products drive the market.
One of the most dynamic and quickly changing sectors is consumer electronics, with an increasing competitor’s number and advanced technologies development. These technological advancements and innovations are improving the features and quality of the buyer’s electronic devices. As a result, the overall volume of the inductors used in consumer electronic devices is increasing. The beneficial characteristics of consumer electronics are small size, high current capacity, favorable DC, and power inductors. Air-core inductors, multilayered inductors, and RF inductors are the other type of inductors used in the consumer electronics industry. Emerging technologies such as the Internet of Things (IoT) and artificial intelligence are gaining popularity with the increased focus of manufacturers in accelerating inductors’ adoption. The incorporation of the network technologies like GSM, LTE, 3G, 4G, and 5G in the various electronic products will boost the expansion of the inductor market.
Inductor Market Restraints
One of the most restraining factors hindering market growth is the rise in the cost of raw materials, mainly those made up of copper. The characteristics of the inductors like high electrical connectivity and significant power losses due to the usage of iron, copper, and ferrite in the manufacturing of the inductors. The usage of copper in the manufacturing of inductors is high due to its excellent mechanical and thermal properties. This can be hampered by the rise in the cost of the raw material resulting in the high cost of the product. Any changes in the region of copper mining operations lead to a significant impact on the price of the inductors worldwide. Natural disasters, landslides, and unexpected weather changes in the copper mining regions can lead to a rise in copper prices that shows a direct impact on the overall price of the inductors. Such kinds of situations cause hindrances to the growth of the inductor market.
Inductor Market Opportunities
The major opportunity in the coming years that will propel the growth of the inductor market is the increasing use of electric vehicles. In recent years the production of electric vehicles is increasing significantly and is anticipated to grow in the coming years. The developments in electronic vehicles are significant. The expansion of electronic vehicles is increasing the requirement for advanced driving assistance systems and connected vehicles that will drive the usage of electronic components. The passive components are anticipated to increase with the increase in the volume and production of electric vehicles in response to the rise in the stringent government regulations on environmental pollution. In coming years, electric vehicles are anticipated to be used widely and raise the demand for the inductor market.
COVID-19 Impact on the Inductor Market
The COVID-19 pandemic has created a negative impact on the inductor market. The imposition of the lockdown across the world to avoid the spread of the disease caused a loss in market development. The supply chain is completely disrupted due to the restriction on travel. The temporary stoppage of activities in the industries is the result of the increased safety restrictions. The non-availability of the workforce and raw materials results in the delayed supply of the finished product. The stakeholders are focusing on innovations to overcome the loss that occurred during the COVID-19 period.
Key developments in the market
In 2021, for building a virtual private network with a private telephone network using the sXGP*1 base station, a 5G core network, a private 4G (LTE) standard using the unlicensed frequency bands, and a public LTE network, Panasonic Corporation and Mori Building Company were joined together. To develop a new service for building tenants and facilities and off-site environments, demonstration experiments are being conducted.
In 2021, AVX Corporation launched the superlative series of standard and custom supercapacitors to provide peak performance in an array of SWaP-optimized and battery-powered products. PrizmaCap, a new series supercapacitor, has the exclusive feature of operating in the temperature range of -55 to +90 degree centigrade and the highest capacitance of 3.5-15F, which no other supercapacitor technology that is currently present in the market can operate.
By Type
Multilayered
Film Type
Molded
Wire Wound
The multilayered inductors are anticipated to have a high market share in the inductor market. The multilayer inductors are formed by the many stacked coils that are wound around the core. The inductors have an inductance level due to the presence of the multiple insulating layers separating them. The product demand increase based on the different use cases and, in turn, raises the sales of the product.
By Inductance
Variable Inductors
Fixed Inductors
The fixed inductors are expected to have a high market revenue in the inductor market owing to the different applications. The fixed inductors are used as the passive electronic components in magnetic field-based energy storage. There are a fixed number of turns in position for one another due to the way the coils are wined in the fixed inductor. In the electric filters, to separate different frequency signals, fixed inductors are used. Variable inductors also have a high market demand due to the wide application range because of the benefits obtained from the use of the inductor, such as lightweight and compact size.
By Core Type
Iron Core
Ferromagnetic Or Ferrite Core
Air Core
The ferrite or ferromagnetic core is anticipated to have a dominant market share in the inductor market. Iron core and air core inductors have the characteristics of low-frequency operation, low inductance, and higher losses. The ferrite core inductors have high permeability, high inductance, and fixed value that help in overcoming the issues in the other two core types.
By Application
Power Applications
General Circuits
High-Frequency Applications
The power applications segment is anticipated to have significant growth in the inductor market during the forecast period. In switched-mode power supplies to produce DC current, the inductors are widely used as energy storage devices. This propels the growth of the segment in the market.
By End User
Transmission and Distribution
Automotive
Military and Defense
Consumer Electronics
Industrial
RF
Telecommunication
The automotive sector is expected to have a high market share in the inductor market. The key driving factor for the segment is current regulations that stabilize the electric circuit in cars. The development in the automotive inductor devices made in the design of the high-end inductors made them function under harsh temperatures. The productivity level of the vehicle parts is also increased. This results in the rapid expansion of the automotive-grade inductor market.
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
A sizeable portion of the inductor market demand is held by the Asia-Pacific region. In the past years, it has had a high revenue growth rate and is expected to continue the same in the coming years. The consumer electronics demand in the region is the main market growth factor. Developing nations like China, Japan, India, and others are investing more in the automotive and electronics industries. This additionally shows a significant demand for inductors in the market. North American region is expected to hold a high market share owing to the increasing adoption of smartphones & tablets and the well-established ICT industry in the region. These factors propel the market growth.
Murata Manufacturing Co., Ltd
Panasonic Corporation
TDK Corporation
SANYO Electric Co., Ltd.
AVX Corporation
Vishay Intertechnology Inc.
CHILISIN Electronics Corp.
Houston Transformer Company, Ltd.
Delta Electronics, Inc.
ABC Taiwan Electronics Corporation
Frequently Asked Questions
The market size of the inductor market is estimated to have a value of USD 21.4 billion by 2028.
More frequent development and innovations in consumer electronic products drive the market.
The rise in the cost of raw materials mainly those made up of copper is the major restrain in the market.
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