The inductor market has exhibited robust growth in recent years, projected to escalate from a value of $4.33 billion in 2023 to $4.6 billion in 2024, marking a compound annual growth rate (CAGR) of 6.2%. This growth in the historical period can be attributed to the expansion of consumer electronics, the proliferation of automotive electronics, increased adoption of renewable energy sources, the surge in industrial automation and robotics, as well as the heightened focus on inductor reliability and durability. Looking ahead, the inductor market is anticipated to continue its strong growth trajectory, with a projected size of $5.89 billion in 2028, reflecting a CAGR of 6.4%. This growth in the forecast period is attributed to the emergence of 5G technology, the proliferation of Internet of Things (IoT) devices, heightened demand for electric vehicles (EVs), the expansion of artificial intelligence (AI), and an increasing emphasis on energy efficiency and power management solutions. Key trends expected in the forecast period include technological advancements, the miniaturization and integration of inductors, the development of high-frequency and high-power inductors, adoption of advanced materials and manufacturing techniques, as well as a shift towards vertically integrated supply chains.
Major Driver In The Inductor Market Market
The surge in electric vehicle adoption is anticipated to propel the expansion of the inductor market moving forward. Electric vehicles, defined as vehicles powered by one or more electric motors (EV), have witnessed increased utilization owing to their ability to enhance energy security, diminish emissions, and optimize fuel efficiency. Inductors are integrated within electric vehicle control units (EV-ECU), responsible for managing various operations within electric vehicles. For example, as per the May 2022 published Global EV Outlook 2022 report, electric vehicle (EV) sales doubled from the previous year, reaching a new pinnacle of 6.6 million units in 2021. Furthermore, global sales of electric car vehicles surged to 6,600,000 units in 2021 from 2,980,000 units. Consequently, the escalating adoption of electric vehicles is a driving force behind the burgeoning growth of the inductor market, with market sizes expected to be $3.51 billion in 2023, $5.69 billion in 2024, and $8.75 billion in 2028.
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Inductor Market Market Competitive Landscape
TDK Corporation, Murata Manufacturing Co Ltd, Vishay Intertechnology Inc, Taiyo Yuden Co Ltd, Chilisin Electronics Corp, Delta Electronics Inc, Panasonic Corporation, ABC Taiwan Electronics Corporation, Pulse Electronics Corporation, Coilcraft Inc, Shenzhen Sunlord Electronics Co Ltd Ourns Inc, Sumida Corporation, Ice Components Inc, Bourns Inc, AVX Corporation, Gowanda Electronics, TT Electronics, Kyocera AVX, Samsung Electro-Mechanics, KEMET, Houston Transformer Company Ltd, TOKIN Corporation
Key Inductor Market Market Trend
Technological advancement is a trend gaining popularity in the inductor market. Major companies operating in the inductor market are focused on developing new technological solutions to strengthen their position in the market. For instance, in June 2023, Bourns Inc., a US-based electronics company, launched Bourns Model SRN8040HA Series, an automotive-grade semi-shielded power inductor series with advanced magnetic silicon-based coating technology. These are well-suited for automotive systems, DC-DC converters, and power supplies in consumer, industrial, and telecom applications in which higher inductor reliability may be required. It is constructed using Bourns' advanced magnetic silicon-based coating technology, which offers superior magnetic shielding while also enabling higher operating temperatures. The SRN8040HA series supports high current capacity with saturation current Isat ranging from 1.3 to 15 A and provides a heating current Irms range of 1.0 to 10.0 A.
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Global Inductor Market Market Segmentation
The inductor market market covered in this report is segmented –
1) By Type: Film Type, Multilayered, Wire Wound, Molded
2) By Inductance: Fixed Inductors, Variable Inductors
3) By Core Type: Air Core, Ferromagnetic/Ferrite Core, Iron Core
4) By Application: Power Applications, High-Frequency Applications, General Circuits
5) By End User Vertical: Automotive, Industrial, RF And Telecommunication, Military And Defense, Consumer Electronics, Transmission And Distribution, Healthcare
By Geography:The regions covered in the inductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea,; UK, USA, Canada, Italy, Spain.
North America was the largest region in the inductor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Inductor Global Market Report 2024 furnishes information about the global inductor market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
