Registering a year-on-year growth of 5.6% in 2022, the global inductor market is expected to surpass US$ 11,862.1 Mn by 2022. With rising adoption across automotive, industrial, and consumer electronics, the overall demand for inductors is anticipated to grow at a 6.1% CAGR between 2022 and 2032, totalling a market valuation of US$ 21,417.5 Mn by 2032.
An inductor is a two-terminal passive electrical component that stores energy in a magnetic field when an electric current passes through it. In many switched-mode power supplies, inductors are widely used as energy storage devices to generate DC (direct current). The majority of inductors are used as filters to reduce ripple in electronic circuits. They are also used to limit switching and fault currents in electrical transmission systems.
Rising production and usage of electronic products globally as a result of rapid digitalization is expected to drive the inductor market during the forecast period. Similarly, the inductor market is expected to grow tremendously during the next ten years as a result of rising automation in several end-use industries, including the automotive, consumer electronics, and power industries.
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Currently, the overall inductor market holds approximately 15% share of the global passive components market and this number is likely to further surge due to growing penetration of digitalization and increasing popularity of electrical vehicles.
Regional Analysis:
East Asia, led by China, is emerging as the most profitable inductor market due to the rapid growth of the consumer electronics and automotive industries, favourable government support, and easy availability of raw materials.
China’s economy has grown steadily in recent years, fueled primarily by an export boom. China is a major exporter of electronic components in the East Asian region. China’s global production share of electronic circuit components is approximately 32.9%, placing it far ahead of other electronics manufacturing hubs.
The U.S. holds around 79.7% market share of the North America inductor market and it is predicted to expand at 5.4% CAGR during the forecast period. Robust expansion of automotive and consumer electronics industries, increasing adoption of advanced technologies, and strong presence of leading manufacturers are some of the key factors driving the U.S. inductor market.
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Germany’s inductor market is anticipated to expand at a robust CAGR of 6.8% over the forecast period. Sales in the country are projected to increase by 2x times by the end of 2032, generating revenues worth US$ 932.1 million.
Between 2017 and 2021, the global inductor market grew at a CAGR of about 2.9%. FMI forecasts the overall inductor market to grow at a 6.1% CAGR through 2032, owing to the rapid growth of the consumer electronics and automotive industries.
The trend toward electrification has grown across industries such as automotive at a rapid pace during the last few years and it is likely to further escalate during the projection period due to rising fuel prices. This is providing a major impetus to the growth of inductor market.
Competitive Landscape
In recent years, there has been an increase in acquisition and growth operations to strengthen the inductor supply chain. Several major Inductor manufacturers are also studying, developing, and launching new products.
For instance,
- In April 2022, Murata announced the availability of the DFE32CAH_R0 series of metal power inductors for high-temperature applications of up to 150 °C. These new products support large currents by optimizing the internal coil structure design and utilizing original metal materials.
- In March 2022, TDK Corporation introduced a new series of shielded SMT power inductors, optimized for high saturation currents and low DC resistance.
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