Global Inductors Market Report 2024 | Industry Size, Share, Trends, Key Companies And Forecast Till 2032

(MENAFN- IMARC Group) The latest report by IMARC Group, titled“ Inductors Market Report by Type (Wire Wound, Multilayered, Film, Molded), Core (Air Core, Ferromagnetic/Ferrite Core, and Others), End User (Automotive, Consumer Electronics, Aerospace and Defense, Communications, and Others), and Region 2024-2032 ”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global inductors market size reached US$ 4.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.

Factors Affecting the Growth of the Inductors Industry:

  • Increasing Demand for Consumer Electronics:

The global inductors market is significantly driven by the escalating demand for consumer electronics such as smartphones, tablets, laptops, and wearable devices. These electronic devices require a multitude of inductors to manage power efficiently and minimize electromagnetic interference, ensuring optimal performance and extended battery life. With the advent of 5G technology and the Internet of Things (IoT), the proliferation of connected devices has surged, necessitating advanced power management solutions. Manufacturers are increasingly focusing on miniaturization while enhancing the power capacity of inductors to cater to the compact and efficient design requirements of modern electronic devices. This trend is prompting continuous research and development efforts to produce inductors that offer higher efficiency, reduced size, and compatibility with the intricate circuitry of consumer electronics, thus propelling market growth.

  • Rising Adoption of Renewable Energy:

The global shift toward renewable energy sources, such as solar and wind power, as part of the effort to combat climate change, is significantly influencing the inductors market. Inductors are integral components in the power conversion and energy storage solutions used in renewable energy systems. They are employed in inverters, converters, and battery storage systems to ensure efficient energy transfer, minimize power loss, and stabilize the power supply. With governments worldwide incentivizing the adoption of renewable energy through subsidies and regulations, there is a growing demand for inductors designed to withstand the variable and harsh operating conditions of renewable energy installations. This trend is encouraging advancements in inductor technology to improve power density, efficiency, and reliability, making them suitable for large-scale renewable energy projects, thereby driving market growth.

  • Technological Advancements:

The automotive sector's ongoing transition toward electrification and advanced safety and comfort features is another crucial factor fueling the demand for inductors. Electric vehicles (EVs) and hybrid electric vehicles (HEVs) rely heavily on inductors for energy storage, filtering, and power conversion processes essential for battery management systems, onboard chargers, and powertrain components. Furthermore, the integration of sophisticated electronic systems for navigation, infotainment, driver assistance, and autonomous driving technologies increases the need for high-quality inductors that can operate efficiently under the harsh conditions of automotive environments. Inductors play a pivotal role in ensuring the reliability and performance of these systems, driving manufacturers to develop products that meet the stringent requirements of the automotive industry, including durability, efficiency, and compactness, thereby contributing to market growth.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • ABC Taiwan Electronics Corp.
  • Coilcraft Inc.
  • Delta Electronics Inc.
  • KYOCERA AVX Components Corporation (KYOCERA Corporation)
  • Murata Manufacturing Co. Ltd.
  • Panasonic Corporation
  • Samsung Electro-Mechanics
  • Sumida Corporation
  • Taiyo Yuden Co. Ltd.
  • TDK Corporation
  • TT Electronics Plc
  • Vishay Intertechnology Inc.
  • Yageo Corporation

Inductors Market Report Segmentation:

By Type:

  • Wire Wound
  • Multilayered
  • Film
  • Molded

Wire wound holds the largest market share due to their high inductance values, excellent performance at high frequencies, and stability over temperature variations.

By Core:

  • Air Core
  • Ferromagnetic/Ferrite Core
  • Others

Ferromagnetic/ferrite core represent the leading segment as they allow for efficient energy storage and inductance, making ferrite core inductors suitable for applications requiring high magnetic flux density, such as in power electronics, RF circuits, and telecommunications.

By End User:

  • Automotive
  • Consumer Electronics
  • Aerospace and Defense
  • Communications
  • Others

Consumer electronics dominate the market as they require compact, lightweight, and efficient components like inductors for power management, filtering, and signal processing.

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Asia Pacific's dominance in the inductors market is attributed to The growing demand for electronic devices, coupled with the presence of major electronics companies, drives the demand for inductors in this region.

Global Inductors Market Trends:

Presently, the demand for inductors in consumer electronics is surging due to the increasing adoption of smartphones, tablets, wearables, and other portable devices. Inductors are crucial components in power management circuits, filtering applications, and signal processing, thus benefiting from the expanding consumer electronics market. Besides, the automotive sector represents a significant growth opportunity for inductors, driven by the transition toward electric and hybrid vehicles. Inductors are essential in electric drivetrains, power converters, onboard chargers, and other electronic systems within EVs and hybrid vehicles. As the automotive industry prioritizes electrification, the demand for inductors in this segment is expected to escalate.

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