USD 4.77 billion
Report ID: SQMIG20D2066 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 146 | Figures: 78
Inductors Market size was valued at USD 4.77 billion in 2021 and is poised to grow from USD 5.1 billion in 2022 to USD 8.5 billion by 2030, growing at a CAGR of 6.6% in the forecast period (2023-2030).
The rise in innovations and advances in consumer electronic devices are significant factors anticipated to propel the growth of the inductor market during the forecast period. Additional projected development drivers for the inductor market include the rise in popularity of smart cities and smart homes, that demand on energy-efficient electrical and electronic devices. Furthermore, it is anticipated that advancements in telephony and chip integration may temper market growth for inductors. On the other hand, fluctuations in the prices of raw materials, notably copper, will restrict the growth of the inductor industry during the forecast timeline.
In addition, the growing demand for wireless and connected devices is likely to create further chances for the inductor industry to expand during the next few years. The future expansion of the inductor market, however, this may be further hindered by the greater complexity brought on by inductors' miniaturization.
In addition, the growing demand for wireless and connected devices will likely create further chances for the inductor industry to expand during the next few years. The future expansion of the inductor market, however, may be further hindered by the greater complexity brought on by inductors' downsizing.
US Inductors Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.77 billion
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Global Inductors Market is segmented based on type, inductance, core type, application, end user, and region. In terms of type, the Inductors, the market is categorized into multi-layered, film type, molded, and wire wound. Based on inductance, the Inductors Market is classified into variable inductors, fixed inductors. With respect to core type the market is segmented into iron core, ferromagnetic or ferrite core, and air core. With respect to segmentation by application, the market is grouped into power applications, general circuits, and high-frequency applications. By end user, the Inductors Market is divided into automotive, military and defense, transmission and distribution, consumer electronics, industrial, RF and telecommunication. Region Wise, the global inductors market is widespread into North America, Europe, Asia-Pacific, Latin America, and MEA.
Inductors Market Analysis by Application
By application, the market is grouped into power applications, general circuits, and high-frequency applications. Among these, the power application segment earned the dominant share. It is feasible to capitalize on the rise of hybrid and battery-powered technologies in the automotive sector to help meet the need for power inductors because these developments would require more ECUs. The power inductors' outstanding packing and saturation characteristics make them the perfect choice for meeting the rising need for powertrain technology. The recently released Lmax series power inductors are suitable with computers, mobile phones, and telecommunications equipment. Due to the wide range of sectors in which they are used, the market for power inductors will expand in the coming years.
That several inductors of different types are used in general circuits. Circuits typically include oscillators and filters. Other examples of general circuits include car navigation systems, wiper and power window systems, and car audio systems. Inductors, resistors, and capacitors are widely used to create signal processing filters and analogue circuit filters. On account of how its impedance changes as a signal's frequency rises, an inductor alone can act as a low-pass filter. One can build oscillators by combining capacitors and inductors. One of the most well-liked types of oscillators is the LC oscillator, which generates a waveform that is continuously periodic. LC oscillators are often used in radio-frequency circuits due to their ease of use and superior phase noise characteristics.
Inductors Market Analysis by End User
By end user, the market is divided into automotive, military and defense, consumer electronics, transmission and distribution, industrial, RF and telecommunication. A coil winding with two terminals through which flux is passed makes up automotive inductors. The flux density via the coil determines the inductive current. Flux going through the coil induces a current, which lowers the voltage around the coil. The current regulation characteristic of automotive inductors, which stabilizes the electric circuits in cars, is one of the main drivers fueling the market growth for these components. A significant advancement in the market for automotive inductors is the invention of premium inductors that operate in extreme temperatures without experiencing appreciable downtime. The market for automotive grade induction will expand quickly as a result. The production of the car parts has increased as a result.
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Asia-Pacific accounts for around 37% of the global market, according to the regional analysis. Also, it is anticipated that Asia Pacific market would probably continue to dominate for a while. Manufacturers of consumer electronics are known to be heavily concentrated in this region. Moreover, these inductors are crucial in the production of consumer items and automobiles. Due to increased investment by nations such as China, South Korea, India, and Japan in the consumer electronics and automotive industries, the demand for inductors in this region has increased dramatically.
The North American inductor market is the second-largest after the Asia-Pacific region, with around 28.93% of global sales. The primary drivers of this region's expanding target market are the rapid growth of industrial automation, the rising popularity of smartphones and tablets.
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Inductors Market Drivers
Consumer electronics are increasingly evolving and developing.
The Rising Need for Electronic Devices
Inductors Market Restraints
Variation in the Prices of Raw Minerals like Copper
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The competitive environment of the Inductor Market has significantly changed over the past few years as well. The opportunities that followed have led to fierce competition. It seems like there is market fragmentation. A sizable number of inductor producers are competing for the expanding market share. As a result, OEMs have a lot of negotiating power and can pick the inductor supplier that best suits their business strategy and, more crucially, one that can balance quality and cost effectively.
Inductors Market Top Player’s Company Profiles
Inductors Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Inductors market is the rise in innovations and advances in consumer electronic devices are significant factors anticipated to propel the growth of the inductor market over the forecast period. Additional projected development drivers for the inductor market include the rise in popularity of smart cities and smart homes, that demand on energy-efficient electrical and electronic devices. Furthermore, it is anticipated that advancements in telephony and chip integration may temper market growth for inductors. On the other hand, it is further anticipated that fluctuations in the price of raw materials, notably copper, will restrict the growth of the inductor industry during the timeline period. The surge in consumer electronics sales has also been facilitated by growing standards of living. Consumer interest in acquiring cutting-edge digital products has increased as a result of the internet's and technology's expanding presence, particularly in emerging nations. Smartphone capabilities are constantly growing, from fingerprint authentication to managing and watching over production lines or home security systems.
|Market size value in 2021||USD 4.77 billion|
|Market size value in 2030||USD 5.1 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Inductors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Inductors Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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