Inductors Market Outlook 2031
The global inductors market size was valued at USD 4.25 Billion in 2022 and is likely reach to USD 6.26 Billion by 2031, expanding at a CAGR of 4.4% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing adoption of consumer electronics and growing demand for inductors in power applications due to their wide usage as energy storage devices.
Inductors are conducting wire which stores magnetic energy, and this magnetic energy is obtained from the magnetic field generated from the current in the coil. Based on the voltage applied to it, these inductors measure change in the current.
The amount of magnetic energy that the inductor can stored, the relationship between voltage applied and the increase in the current that it causes, gives us the inductance of the inductor.
Direct Current as well as Alternating Current can be passed through the coil of the inductor. Various results can be obtained by just changing the coil that is wrapped the core.
When Direct Current is passed through the coil, then it generates magnetic field around the inductor but when Alternating Current is passed through the coil, it creates magnetic field that changes state as AC signals keep changing between positive and negative charge. Inductors are used in tuning circuits and sensors.
They are used induction motors as well as transformers. Inductors are used in electronics devices and areas such as voltage stabilization, signal controlling, noise elimination, automobile operations, power electronic equipment’s, and many more devices.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing adoption of inductors in manufacturing consumer electronics worldwide such as, laptops, smartphones, tablets, portable gaming consoles, and others is projected to drive the market demand in the coming years.
- Rapid growth of automotive and telecom industry which are deemed as largest end-users of inductors and increased electrification in automobiles in recent years are some of the major factors pushing the market growth during the forecast period.
- High and fluctuating prices of raw materials such as iron, copper, and ferrite used to manufacture inductors present as major challenge restraining market growth during the forecast period.
- Onset of covid 19 has affected the inductor market to a large extent due to supply chain restrictions, slow down of manufacturing in end-user sectors such as automotive and electronics is anticipated to hinder the market expansion in the coming years.
- Increasing complexities due to rapid demand for miniaturization of inductors has led to high cost of manufacturing and lack of skilled labors which acts as major challenge that impede the market growth during the forecast period.
- R&D investment, technological advancement, and growing demand are projected to create lucrative opportunities for the market players.
Scope of Inductors Market Report
The report on the global inductor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Inductor Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Fixed inductors, RF Inductors, Coupled Inductors, Wire Wound Inductors, Multi-layered Inductors, Power Inductors, Variable Inductors, And Others), Core Types (Air Core, Laminated Core, Ceramic Core, And Ferromagnetic Core), Applications (Filters, Sensors, Transformers, Motors, Energy Storage Components, and Others), End-Users (Semiconductors, Telecommunications, Healthcare, Industrial, Military and Defense, Consumer Electronics, Automotive, Power Transmission and Distribution, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Panasonic Corporation, ABC Taiwan Electronics Corporation, Pulse Electronics Corporation, Coilcraft, Inc., Shenzhen Sunlord Electronics Co., Ltd., Bourns, Inc., Sumida Corporation., Ice Components, Inc., API Delevan, Inc., Caddell- Burns Manufacturing Co., Inc., Datatronic Distribution, Inc., Houston Transformer Company, and AVX Corporation, TDK Corporation, Murata Manufacturing Co., Ltd., Vishay Intertechnology Inc., Taiyo Yuden Co., Ltd., Chilisin Electronics Corp., Delta Electronics, Inc.
Inductors Market Segment Insights
Wire wound inductors segment is projected to account for large market share
Based on types, the inductor market is segmented into fixed inductors, RF inductors, coupled inductors, wire wound inductors, multi-layered inductors, power inductors, variable inductors, and others. The wire wound inductors segment is anticipated to account for major market share during the forecast period due to their relatively less manufacturing costs in comparison to other types of inductors.
Wire wound inductors have high inductance value and have a core made up of magnetic metals such as, iron or ferrite with wire wound around it. They block unwanted radio frequencies which can interfere with audio sound quality and disrupt electrical circuits.
Hence, wire wound inductors are typically found in car audio systems, electronic control units (ECUs), and electronic equipment used in communications infrastructures and mobile base stations. All these factors are projected to drive the segment expansion at a significant CAGR during the forecast period.
Ferromagnetic core segment is estimated to exhibit high CAGR
Based on core types, the inductor market is segregated into air core, laminated core, ceramic core, and ferromagnetic core.
The ferromagnetic core segment is expected to exhibit high CAGR owing to its high resistance characteristics in comparison to other inductor core types and due to their large number of applications in various electronic products such as, they are used in surface acoustic wave filters and voltage-controlled oscillator circuits for telecommunications, computers, hard disks, and others.
Filters segment to expand at a significant rate
Based on applications, the inductor market is segmented into filters, sensors, transformers, motors, energy storage components, and others. Sensors segment to expand at a significant rate in the coming years owing to their high demand in electronics sector. Filters are the electronic devices which are used to limit frequency of the input signal entering to a circuit.
Consumer electronics is projected to constitute for major market share
Based on end-users, the inductor market is segregated into semiconductors, telecommunications, healthcare, industrial, military and defense, consumer electronics, automotive, power transmission and distribution, and others.
The consumer electronics segment is projected to constitute for major market share during the forecast period. The segment growth is attributed to increasing demand for consumer electronics across the world, such as computers and laptops, smartphones, tablets, portable gaming consoles, and set-up boxes.
Inductors Market Regional Outlook
Asia Pacific is anticipated to dominate the market
On the basis of regions, the inductor market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to dominate the market during the forecast period.
The regional market growth can be attributed to affordable supply chain, raw material cost, inexpensive labor, and emergence of various developing economies such as India, China, Vietnam, and Indonesia.
- Fixed inductors
- RF Inductors
- Coupled Inductors
- Wire Wound Inductors
- Multi-layered Inductors
- Power Inductors
- Variable Inductors
- Air Core
- Laminated Core
- Ceramic Core
- Ferromagnetic Core
- Energy Storage Components
- Military and Defense
- Consumer Electronics
- Power Transmission and Distribution
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Panasonic Corporation
- ABC Taiwan Electronics Corporation
- Pulse Electronics Corporation
- Coilcraft Inc.
- Shenzhen Sunlord Electronics Co., Ltd.
- Bourns Inc.
- Sumida Corporation
- Ice Components, Inc.
- API Delevan Inc.
- Caddell- Burns Manufacturing Co. Inc.
- Datatronic Distribution Inc.
- Houston Transformer Company
- AVX Corporation
- TDK Corporation
- Murata Manufacturing Co. Ltd.
- Vishay Intertechnology Inc.
- Taiyo Yuden Co. Ltd.
- Chilisin Electronics Corp
- Delta Electronics Inc.
Key players competing in the inductor market include Panasonic Corporation, ABC Taiwan Electronics Corporation, Pulse Electronics Corporation, Coilcraft, Inc., Shenzhen Sunlord Electronics Co., Ltd., Bourns, Inc., Sumida Corporation., Ice Components, Inc., API Delevan, Inc., Caddell- Burns Manufacturing Co., Inc., Datatronic Distribution, Inc., Houston Transformer Company, and AVX Corporation, TDK Corporation, Murata Manufacturing Co., Ltd., Vishay Intertechnology Inc., Taiyo Yuden Co., Ltd., Chilisin Electronics Corp., and Delta Electronics, Inc.