Automotive grade inductors are current-inducing devices that have electromagnetism property. They comprise a passive two-terminal electrical component that stores energy in a magnetic field when the electric current flows through automotive grade inductors. Automotive grade inductors are mostly made by ultra-thin mixture of nickel zinc ferrite, manganese, powder iron, and metal alloy. Moreover, the automotive grade inductors are installed in the vehicle to offer noteworthy AC and DC resistance and to enhance the working of the accessories. Moreover, automotive grade inductors are used to maintain the flow of current and supply filtered current to the vehicle’s accessories, such as information devices, entertainment devices, and LED lights, among others. Owing to their application as current controlling devices for electrically operated accessories, the automotive grade inductors market is expected to witness significant growth during the forecast period.
Demand for automotive grade inductors is expected to reach US$ 2,800 million in 2022 and is projected to increase at a CAGR of 3.20 percent from 2022 to 2032, when it is expected to reach US$ 3,836.56 million. The market, which had a value of US$ 2,759 Million as of 2021, is expected to increase at a Y-o-Y rate of 1.5 percent by 2022.
Its robust AC and DC current-resistance characteristic and current-regulating mechanism, which improve the functionality of the automobile accessories, are credited with its growth. Additionally, it controls the flow of current to automotive electronics like LED lights and in-car infotainment systems.
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Automotive Grade Inductors Market: Dynamics
Increasing adoption of accessories in vehicles to increase the efficiency of the operations is expected to drive the growth of the automotive grade inductor market over the slated time period. Moreover, governmental regulations pertaining to automotive electronic parts such as AEC-Q200 are consequently projected to create immense growth opportunities for the manufacturers of automotive grade inductors and drive the growth of the global automotive grade inductor market during the forecast period.
In the automotive sector, new technologies are introduced to enhance the working of a vehicle, which is consequently expected to hamper the sale of automotive grade inductors in the coming years.
The manufacturers of automotive grade inductors are focusing on to develop high performance automotive grade inductors to withstand in extreme temperature, with wide band electrical noise and increase the efficiency of the vehicle.
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Automotive Grade Inductors Market: Segmentation
The global automotive grade inductors market can be segmented based on inductance range, vehicle type, and sales channel.
By inductance range, the automotive grade inductor market is segmented into:
- Less than 1 micro henry
- 1 to 10 micro henry
- 10 to 20 micro henry
- 20 to 30 micro henry
- 30 to 40 micro henry
- More than 40 micro henry
By vehicle type, the automotive grade inductor market is segmented into:
- Passenger Car
- Compact
- Mid-Size
- Luxury
- SUV
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By sales channel, the automotive grade inductor market is segmented into:
- Original Equipment Manufacturer (OEM)
- Aftermarket
Automotive Grade Inductors Market: Regional Outlook
Europe is expected to witness noteworthy growth in the global automotive grade inductors market during the slated time period owing to increasing vehicle production as well as rising demand for passenger vehicles. North America is also projected to witness sizable growth in the global automotive grade inductor market over the slated time period. In North America, consumers highly prefer old vehicles for daily use, they do not purchase new vehicles, which in turn is expected to increase the volume share of the aftermarket segment. Asia Pacific is projected to grow at a considerable growth rate in the global automotive grade inductors market owing to increasing number manufacturers of passenger car coupled with increasing penetration of electrically operated accessories. The Middle East & Africa region is expected to witness moderate growth in the global automotive grade inductors market owing to limited manufacturing facilities.
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Automotive Grade Inductors Market: Key Participant
Some of the market participants in the automotive grade inductors market identified across the value chain are:
- Mouser Electronics, Inc.
- Laird Technologies
- TDK Corporation
- Abracon
- TTI, Inc.
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