According to the latest report by IMARC Group, titled "Inductors Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global inductors market reached a value of US$ 4.2 Billion in 2022. Inductors are passive electronic components used in electrical circuits to store and release energy in a magnetic field. They are also known as coils or reactors and consist of a coil of wire wound around a magnetic core made of different materials like iron, ferrite, or air. When an electric current flows via an inductor, it induces a magnetic field around the coil, which stores energy. This energy is released when the current is turned off or changed, creating a voltage spike or surge. Inductors are commonly used in filters, oscillators, power supplies, and amplifiers, among other electronic devices. Inductors are available in various shapes and sizes, from small surface-mount components to large, high-power chokes used in industrial applications. They are critical components of electronic circuits used for energy storage, filtering, and resonant circuit creation. They are vital for the proper functioning of many electronic devices and come in various sizes and shapes to fit various applications.
Global Inductors Market Trends:
The global market is majorly driven by the increasing demand for inductors in various applications, including automotive, consumer electronics, telecommunications, and industrial automation. In line with this, the growing adoption of electric and hybrid vehicles is significantly contributing to the demand for inductors in the automotive sector. Furthermore, the rising demand for consumer electronics is positively influencing the market. Several key players are investing in R&D to develop innovative products, expanding their product portfolios, and adopting strategies like mergers and acquisitions to enhance their market presence. Apart from this, the escalating demand for renewable energy sources like wind and solar power, which require inductors in their power conversion systems, is catalyzing the market. Moreover, the rapid adoption of the Internet of Things (IoT) devices, which use inductors in their sensors and communication systems, is propelling the market. Besides, the increasing product usage in data centers for power supply and filtering applications is strengthening the market. The escalating demand for the miniaturization of electronic components is leading to the development of smaller and more efficient inductors. Additionally, the emerging popularity of wireless charging technology, which uses inductors in its wireless power transfer systems, is providing a boost to the market. Some of the other factors driving the market include the increasing demand for energy-efficient devices, rising product utilization in power distribution and management systems, including smart grids, growing trend of automation in various industries, the escalating product usage in RF and microwave applications, including radar and communication systems, and the emergence of new applications for inductors in emerging technologies like 5G, artificial intelligence, and blockchain. On account of the factors above, the market is anticipated to reach a value of US$ 5.5 Billion by 2028, exhibiting a CAGR of 3.9% during 2023-2028.
- On the basis of the type, the market has been categorized into wire wound, multilayered, film, and molded.
- Based on the core, the market has been classified into air core, ferromagnetic/ferrite core, and others.
- Based on the end user, the market has been segmented into automotive, consumer electronics, aerospace and defense, communications, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include 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. and Yageo Corporation.
|Base Year of the Analysis
||Type, Core, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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. and Yageo Corporation
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