PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629223
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629223
Inductors Market size was valued at USD 4,519.90 million in 2023, expanding at a CAGR of 5.90% from 2024 to 2032.
An inductor is a passive electronic component that temporarily accumulates energy within a magnetic field as electric current traverses its coil. Inductors play a crucial role in managing variations in electric current within a circuit. They utilize the interplay between electric current and magnetic fields to counteract fluctuations in current flow. As current initiates its passage through the inductor's coil, the magnetic field begins to grow until it reaches a state of equilibrium.
Inductors Market- Market Dynamics
Rising Demand for Consumer Electronics is expected to propel the market growth.
As the consumer electronics industry experiences continuous expansion, propelled by trends such as smart home technology, wearable devices, and the adoption of 5G, the demand for inductors is anticipated to increase substantially, fostering ongoing innovation and advancements within this sector. According to digital commerce reports, online sales for consumer electronics saw a modest increase of 6.8% in 2023 compared to 2022. Nevertheless, total sales within the category experienced a slight decline of 0.1%. Conversely, the growth of industrial automation and robotics presents potential opportunities for market expansion. However, fluctuating raw material prices pose a challenge to this growth.
Inductors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.90% over the forecast period (2024-2032)
Based on Inductance segmentation, Fixed Inductors was predicted to show maximum market share in the year 2023
Based on Type segmentation, Film Type was the leading segment in 2023
Based on Shield Type segmentation, Shielded inductors were the leading segment in 2023
Based on Core Type segmentation, Ferromagnetic/Ferrite Core was the leading segment in 2023
Based on End-User segmentation, Consumer Electronics was the leading segment in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Inductors Market is segmented by Inductance, Type, Shield Type, Core Type, End-User, and Region.
The market is divided into two specific categories based on Inductance: Fixed Inductors and Variable Inductors. Fixed Inductors are the primary drivers of market growth. These components possess a predetermined inductance value that remains constant and is not subject to alteration. They are engineered to uphold a stable level of inductance during their operational lifespan.
The market is divided into four segments according to Type: Film Type, Multilayered, Wire Wound, and Molded. Film Type holds a dominant position in the market. These inductors are recognized for their accuracy, stability, and compact design, rendering them suitable for high-frequency and miniaturized electronic applications.
The market is divided into two segments based on the shield type: Shielded and Unshielded. The Shielded segment holds a dominant position in the market. Shielded inductors are essential in electronic designs that necessitate low-noise performance and safeguarding against electromagnetic interference.
The market is divided into two segments based on their Core Type: Air Core, Ferromagnetic/Ferrite Core, and Iron Core. The Ferromagnetic/Ferrite Core segment holds a dominant position in the market. These materials exhibit high magnetic permeability, allowing them to effectively channel and concentrate magnetic fields, thereby improving the inductance and overall performance of inductors.
The market is divided into seven segments based on their end-users: Automotive, Industrial, RF & Telecommunication, Military & Defense, Consumer Electronics, Transmission & Distribution, and Healthcare. The Consumer Electronics segment is the primary driver of market growth. Inductors play a crucial role in the design of consumer electronics, offering functionalities that improve power efficiency, signal clarity, and overall performance.
Inductors Market- Geographical Insights
The market for inductors is widespread, covering regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries that contribute significantly to business activities. North America is at the forefront of the market, largely due to the increasing implementation of smart home and smart city technologies, which require energy-efficient electronic systems. This demand for innovative solutions subsequently boosts the need for inductors. In the United States, the revenue generated from Smart Cities is projected to reach USD 0.27 billion by 2023. Europe ranks as the second-largest region for market expansion, driven by the growing adoption of Electric Vehicles (EVs).
The inductors market is marked by fierce competition, rapid technological progress, and a persistent emphasis on innovation. As the demand for smaller and more efficient devices rises, firms are channeling resources into the creation of compact, high-performance inductors. Developments such as multilayer inductors, thin-film technology, and enhanced current-carrying capabilities are enabling companies to maintain their competitive edge. Additionally, there is an increasing focus on the production of energy-efficient and environmentally sustainable inductors. Organizations are implementing eco-friendly manufacturing processes and designing products that minimize energy losses while supporting green technologies, including renewable energy systems.
Delta, a prominent global entity in power management and a provider of IoT-driven smart green solutions announced today the execution of an agreement by its subsidiaries, Delta Electronics (Japan), Inc. and Delta Electronics (Korea), Inc. This agreement pertains to the acquisition of the power inductor and powder materials business, along with associated assets such as production and R&D equipment, patents, and intellectual property from the Japan-listed firm Alps Alpine Co., Ltd. and its subsidiary, Alps Electric Korea Co., Ltd. The total value of the transaction is approximately USD71 million (around NT$2,331,285 thousand).
On February 27, 2024, TDK Corporation revealed the launch of its latest MHQ1005075HA series of inductors specifically designed for high-frequency automotive circuits. This new product maintains the same materials and manufacturing techniques as its conventional counterparts while incorporating TDK's unique design expertise to enhance the internal structure with a focus on fail-safe design principles.