Inductor Market Current Scenario and Industry Growth Forecast with Major Key Players data by 2032
The global inductor market is anticipated to reach a valuation of US$ 21417.5 Mn by 2032, with the demand growing at a positive CAGR of 6.1% from 2022 to 2032. The target market is expected to register a year-on-year growth of 5.6% in 2022 and reach an estimated US$ 11862.1 Mn by the end of the year. Swift digitalization occurring all over the world is increasing the production and application of electronic goods which will bolster the growth of the inductor market during the forecast period.
A passive two-terminal electrical element that reserves energy in a magnetic field when electric current flows through it is referred to as an inductor. These devices are extensively used as energy storage devices in several switched-mode power suppliers to produce DC (direct current). A majority of the inductors are used as filters to lessen the dose of ripple in electronic circuits. They are further utilized in electrical transmission systems, where they cap switching currents and fault currents.
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Inductors are required for power conversion in power electronics. This is one of the major aspects that drives the demand for inductors in the global market. Thus, the rising popularity of power electronics also propels the growth of the inductors market. In addition to this, a considerable rise in the usage of electronically operated tools including automated machinery with computer numerical control in different industry verticals will likely bolster the global inductor market.
Moreover, the inductor market is projected to show immense growth over the upcoming decade owing to the prevailing automation trend in various end-use industries such as the automotive, consumer electronics, and power industries. All of these considerations, in addition to many others, propel the market growth of the inductor market during the forecast period.
“Rapid digitalization taking place all over the globe coupled with the miniaturization of electronics will likely supplement the global growth of the inductor market over the forecast period,” says an FMI analyst.
- Heightened demand for inductors in the mobility sector will foster market growth.
- Accounting for 79.7% of the market share in North America, the U.S inductor market will grow at 5.4% CAGR.
- The sales of the inductor market in Germany will grow 2x by 2032, generating US$ 932.1 Mn in revenue.
- China’s inductor market will exceed revenue worth US$ 795.5 Mn by 2032.
- By core type, the air segment will create an opportunity of US$ 5143.5 Mn during the forecast period.
- Based on technique, the surface mount technology will hold 60% of the global market share.
Murata Manufacturing, TDK Corporation, Vishay Intertechnology, Taiyo Yuden Co., Ltd., Chilisin, Delta Electronics, Panasonic, ABC Taiwan Electronics, Pulse Electronics, Coilcraft, Shenzhen Sunlord Electronics, Bourns Inc., ICE Components, Inc., Kyocera Corp AVX, Bel Fuse Inc., Wurth Elektronik, TE Connectivity, Samsung Electro Mechanics Co. Ltd., among others are some of the major players in the inductor market profiled in the full version of the report.
Leading market players are focusing on tactics like mergers, acquisitions, and expansion of their operations to strengthen their supply chain. These enterprises are also studying, developing, and releasing new products into the market.
More Insights into Inductor Market Report
In its latest report, FMI offers an unbiased analysis of the global inductor market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of inductance type (fixed inductors, variable inductors), type (film type, multi-layered, wire wound, molded), core type (air core, ferrite core, iron core), mounting technique (surface mount, through hole), application (automotive, industrial, RF, telecommunications & high-frequency applications, military and defense, consumer electronics, power generation, transmission and distributions, healthcare), and region.
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According to the latest FMI reports, based on segmentation, the air core type inductors are anticipated to be the fastest growing segment, creating a growth opportunity of US$ 5143.5 Mn during the forecast period. In terms of mounting technique, the surface mount technology will continue to maintain its popularity, holding over 60% of the global inductor market share during 2022-2032.
Based on region, the inductor market in the United States is expected to exhibit substantial growth during 2022-2032. The U.S inductor market accounts for 79.7% of the market share in North America and is set to expand at a CAGR of 5.4%. The advancing automotive and consumer electronics sectors, the rising adoption of advanced technologies, as well as the strong presence of major market players are accountable for the target market growth in this country. In addition to the U.S., China and Germany, too, will demonstrate notable market growth during the forecast period.