The global inductor market is on track to reach an estimated valuation of US$ 21,417.5 million by the year 2032, propelled by a promising Compound Annual Growth Rate (CAGR) of 6.1% from 2022 to 2032. This growth trajectory is significantly influenced by the rapid global trend of digitalization, fostering an increased production and utilization of electronic goods. Consequently, this trend is set to make a substantial contribution to the expansion of the inductor market across the forecast period.
Inductors, classified as passive two-terminal electrical components, fulfill a crucial role by storing energy within a magnetic field when an electric current flows through them. These components play a pivotal role in serving as energy storage units, particularly in various switched-mode power supplies, facilitating the generation of direct current (DC). Beyond this, inductors have a substantial presence in electronic circuits, functioning as filters to counteract ripple effects. Moreover, they assume a vital role in electrical transmission systems by limiting switching currents and fault currents.
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Driving Factors and Growth Prospects in the Global Inductor Market
The demand for inductors in the global market is primarily fueled by their essential role in power conversion within power electronics. This is especially significant as power electronics gain popularity, driving the inductor market’s growth. The increased usage of electronically operated tools, including computer numerical control-driven automated machinery across diverse industries, further contributes to the expansion of the inductor market.
Additionally, the inductor market is poised for substantial growth in the coming decade due to the prevailing trend of automation across various sectors like automotive, consumer electronics, and power industries. These factors, combined with others, collectively drive the market’s growth during the forecast period.
According to an analyst at FMI, “The ongoing global digitalization, accompanied by the miniaturization of electronics, is set to augment the inductor market’s growth worldwide.”
Key Insights:
- The mobility sector’s heightened demand for inductors will propel market growth.
- The U.S. inductor market, accounting for 79.7% of North America’s market share, is projected to grow at a 5.4% CAGR.
- Germany’s inductor market is expected to double by 2032, generating US$ 932.1 million in revenue.
- China’s inductor market is set to exceed revenue of US$ 795.5 million by 2032.
- The air segment within the core type category presents an opportunity of US$ 5143.5 million during the forecast period.
- Surface mount technology is anticipated to hold a significant 60% of the global market share in terms of technique.
Competitive Landscape:
Prominent players in the inductor market, such as Murata Manufacturing, TDK Corporation, Vishay Intertechnology, Taiyo Yuden Co., Ltd., Chilisin, Delta Electronics, Panasonic, ABC Taiwan Electronics, and more, are featured in the comprehensive report. These industry leaders are adopting strategic approaches, including mergers, acquisitions, and product expansion, to reinforce their supply chains. By continuously innovating and launching new products, these players maintain a competitive edge in the market.
The global inductor market is on a trajectory of growth, driven by technological advancements and increasing demand for electronics in various industries.
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Deeper Insights from the Inductor Market Report
FMI’s most recent report delivers an impartial assessment of the global inductor market, encompassing historical data spanning from 2017 to 2021 and forward-looking projections covering 2022 to 2032. The market’s potential, growth patterns, and scope are dissected through a segmentation approach that considers factors such as 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.
As per the latest insights from FMI, the air core type inductors emerge as the rapidly growing segment, poised to present a growth opportunity amounting to US$ 5143.5 million within the forecast period. Regarding mounting technique, surface mount technology is set to retain its popularity, commanding over 60% of the global inductor market share between 2022 and 2032.
On the regional front, substantial expansion is projected for the inductor market in the United States throughout 2022-2032. Accounting for 79.7% of North America’s market share, the U.S. inductor market is anticipated to expand at a robust CAGR of 5.4%. This growth is attributed to the thriving automotive and consumer electronics sectors, increased adoption of advanced technologies, and the strong presence of key market players in the country. Notably, China and Germany are also anticipated to demonstrate significant market growth during the forecast period.
Global Inductor Market By Category
By Inductance Type:
- Fixed Inductors
- Variable Inductors
By Type:
- Film Type
- Multi-Layered
- Wire Wound
- Molded
By Core Type:
- Air Core
- Ferrite Core
- Iron Core
By Mounting Technique:
- Surface Mount
- Through Hole
By Application:
- Automotive
- Industrial
- RF, Telecommunications & High Frequency Applications
- Military and Defense
- Consumer Electronics
- Power Generation, Transmission and Distributions
- Healthcare
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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