Inductors Market

Inductors Market Size:

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. The market is experiencing robust growth, driven by the growth in the consumer electronics sector, increasing demand for automotive electronics, expansion of renewable energy infrastructure, rising demand for industrial automation, and significant investments in telecommunications infrastructure.

Inductors Market Analysis:

• Major Market Drivers: Consumer electronics innovation, such as smartphones and wearable devices, is increasing the demand for high-performance and miniaturized inductors. Furthermore, the transition to electric vehicles (EVs), which necessitates efficient power electronics as well as the significant expenditures in solar and wind power infrastructure, is driving the expansion of this industry.
• Key Market Trends: The drive toward smaller and more powerful electronic devices, which necessitates the creation of compact inductors with excellent efficiency, is one of the major trends. Furthermore, the rise of Industry 4.0, the integration of the Internet of Things (IoT) and artificial intelligence (AI) in production, and the rollout of fifth-generation (5G) networks are fueling the market growth.
• Geographical Trends: Asia Pacific is leading the market owing to its robust electronics manufacturing sector and increasing industrialization. Other regions are also experiencing growth as a result of ongoing investments in research and development (R&D) and technological breakthroughs that enable the creation of unique inductor solutions.
• Competitive Landscape: Some of the major market players in the inductors industry 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., Yageo Corporation, among many others.
• Challenges and Opportunities: The global supply chain interruptions, making it difficult to obtain raw materials and components on time, is a major hurdle in the sector. However, the continuous transition to renewable energy sources and the increasing adoption of electric vehicles (EVs) are providing growth opportunities, as per the inductors market analysis.
   

Inductors Market Trends:

Growth in Consumer Electronics

The heightened expansion of the consumer electronics sector is one of the primary drivers of the global inductors market growth. Over the past few decades, consumer electronics have transitioned from being luxury items to essential household components. In line with this, the global online sales of consumer electronics are expected to jump from approximately $473.2 billion in 2020 to a forecasted figure of approx. $540 billion in 2027. The proliferation of smartphones, tablets, laptops, wearable devices, and other smart home appliances has created a significant demand for electronic components. These devices depend on inductors for functions such as power regulation, filtering, energy storage, and signal processing. They are crucial in managing the power supply in compact and portable electronic devices.

Rapid Expansion of Automotive Electronics

The automotive industry is undergoing a transformative shift towards electrification, automation, and connectivity, which is creating a positive outlook for the inductors market size. Modern vehicles are majorly equipped with sophisticated electronic systems for various applications, including infotainment, navigation, advanced driver assistance systems (ADAS), electric powertrains, and battery management systems that require inductors. The market for automotive electronics is expected to reach US$ 558.5 billion by 2032, with a 6.1% annual growth rate. Inductors play an essential role in these systems by providing power management, filtering, and noise suppression functions. Moreover, the ongoing shift towards electric vehicles (EVs) and hybrid electric vehicles (HEVs) has been accelerating this demand, as these vehicles need more complex electronic components to manage their electric motors and battery systems.

Rising Demand for Renewable Energy Systems

The ongoing shift towards renewable energy sources, such as solar and wind power, is a major driver of the market. Renewable energy systems require efficient power conversion and management solutions, where inductors play a critical role. According to IMARC Group, the market for renewable energy is growing at a rapid pace of 7.65% annually. It is also expected to reach US$ 1,733.0 billion by 2032. Inductors are used in photovoltaic (PV) solar power systems to convert direct current (DC) from solar panels into alternating current (AC) for use in the power grid. Similarly, in wind turbines, they are crucial in managing the electrical energy generated and ensuring its stable integration into the grid. The increasing emphasis on clean energy and the growing installations of renewable energy systems worldwide are amplifying the demand for inductors. For example, in the U.S., solar capacity additions rose 155% between the first quarter of 2023 and the first quarter of 2024, up to 5.9 gigawatts from 2.3 gigawatts, which has also increased the need for inductors.

Inductors Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, core, and end user.

Breakup by Type:

• Wire Wound
• Multilayered
• Film 
• Molded
   

Wire wound accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes wire wound, multilayered, film, and molded. According to the report, wire wound represented the largest segment.

As per the inductors market report, wire-wound inductors accounted for the largest share due to their superior performance characteristics, including high inductance, high current handling capacity, and excellent frequency stability. These inductors are widely used in applications that require precision and reliability, such as power supplies, radio frequency (RF) circuits, and automotive electronics. Moreover, their ability to withstand high temperatures and mechanical stress, which makes them ideal for demanding environments, is contributing to the inductor market share. Additionally, ongoing advancements in wire-wound inductor technology, such as the development of smaller and more efficient designs, are fueling the market growth.

Breakup by Core:

• Air Core
• Ferromagnetic/Ferrite Core
• Others
   

Ferromagnetic/ferrite core holds the largest share of the industry

A detailed breakup and analysis of the market based on the core have also been provided in the report. This includes air core, ferromagnetic/ferrite core, and others. According to the report, ferromagnetic/ferrite core accounted for the largest market share.

Based on the inductors market forecast, the ferromagnetic/ferrite core inductors segment dominated the market due to their excellent magnetic properties, which provide high inductance and low core losses at high frequencies. These inductors are extensively utilized in power electronics, telecommunications, and automotive applications, where efficiency and performance are critical. Moreover, ferrite cores are valued for their ability to operate effectively over a wide frequency range, making them suitable for high-frequency applications such as switching power supplies and RF circuits. Additionally, their cost-effectiveness, combined with their high permeability and low eddy current losses, is enhancing the inductor market value.

Breakup by End User:

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

Consumer electronics represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the end user. This includes automotive, consumer electronics, aerospace and defense, communications, and others. According to the report, consumer electronics represented the largest segment.

As per the inductors market overview, consumer electronics represented the largest market, driven by the burgeoning demand for advanced electronic devices such as smartphones, tablets, laptops, and wearable gadgets. Inductors are critical components in these devices as they play essential roles in power management, signal filtering, and energy storage. Moreover, the rapid pace of innovation in consumer electronics that necessitates the use of compact, efficient, and reliable inductors to support sophisticated functionalities and high-frequency operations is boosting the market growth.

Breakup by Region:

• 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 leads the market, accounting for the largest inductors market share

The report has also provided a comprehensive analysis of all the major regional markets, which include 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. According to the report, Asia Pacific represents the largest regional market for inductors.

According to the inductor market trends, the Asia Pacific region accounted for the largest share, driven by its robust electronics manufacturing industry. Moreover, the region is a global hub for the production of consumer electronics, automotive components, and telecommunications equipment, which rely on inductors. Besides this, the presence of major electronics manufacturers, coupled with the availability of a skilled workforce and advanced manufacturing facilities, is propelling the market growth. Additionally, the rapid urbanization and industrialization, along with increasing investments in renewable energy projects and electric vehicle (EV) infrastructure, is fostering the market growth.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the inductors industry 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., Yageo Corporation, etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The major players in the market are enhancing their product portfolios and expanding their production capacities to meet growing global demand. They are investing significantly in research and development (R&D) to innovate high-performance, compact, and efficient inductors tailored for advanced applications in consumer electronics, automotive, telecommunications, and renewable energy sectors. Moreover, several companies are engaging in strategic mergers, acquisitions, and partnerships to strengthen their market positions and expand their technological capabilities. They are collaborating with automotive manufacturers and telecommunications firms to enable the co-development of specialized inductors that meet specific industry requirements.

Inductors Market News:

• In January 2024, Murata announced the expansion of their line-up with the release of the DFE2MCPH_JL series of automotive-grade power inductors with values 0.33µH and 0.47µH. This series is specifically designed for automotive powertrain/safety equipment. In comparison with the existing products in the Murata DFE2MCAH_J0 series, the 0.33µH part achieves the highest standards in the industry with a reduction of 38% in direct current (DC) resistance to 18 mOhm along with a 31% increase in rated current to 5.1 A for the same temperature rise.
• In July 2024, Panasonic announced that it has expanded the part numbers for the ETQ-P*M***YS* High Vibration Acceleration-Resistant Type Inductor that offers inductance values of 20 and 44 with a± 20 tolerance percentage. It provides high efficiency with low DC resistance of winding and low eddy-current loss of the core. With excellent vibration resistance, heat resistance, and large current support, it allows customers to streamline their production process and contribute to the placement of ECUs in the engine itself and the integration of mechanical and electrical components.

Inductors Market Report Scope:

Key Questions Answered in This Report:

• How has the global inductors market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global inductors market?
• What is the impact of each driver, restraint, and opportunity on the global inductors market?
• What are the key regional markets?
• Which countries represent the most attractive inductors market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the inductors market?
• What is the breakup of the market based on the core?
• Which is the most attractive core in the inductors market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the inductors market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global inductors market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the inductors market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global inductors market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the inductors industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.