The global automotive-grade inductors market is projected to grow at a CAGR of 3.2% from 2022 to 2032. The market, valued at USD 2,800 million in 2022, is expected to reach USD 3,836.56 million by 2032.
Key drivers of this market include the inductors’ strong AC and DC current resistance and their ability to regulate current effectively, which enhances the performance of automotive accessories. The rise of wireless technology is significantly influencing the automotive industry, with increased demand for automotive-grade inductors driven by the growth of entertainment systems, Internet of Things (IoT) applications, and navigation systems. The miniaturization trend in devices has led many manufacturers to develop smaller power inductors.
For example, Vishay Intertechnology recently introduced three new industrial IHLP low-profile, high-current power inductors, featuring the smallest case size the company has ever produced (3.3 mm by 3.3 mm 1212) and capable of operating at temperatures up to +155°C. The increased use of wireless technologies such as GPS, GPRS, Bluetooth, and Wi-Fi is expected to further boost the demand for automotive-grade inductors, as these technologies become more integrated into vehicles.
Automotive-grade inductors are commonly made from materials like copper, iron, and ferrite due to their reliable electrical connections and low power loss. Copper, in particular, is favored for its superior thermal and mechanical properties. However, the cost of these materials can vary widely, with fluctuations in the prices of copper, iron, and ferrite potentially impacting the overall cost of automotive-grade inductors.
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The top five countries importing these materials are China, Japan, India, South Korea, and Germany. Variations in supply and demand in these countries can affect metal prices and, consequently, the cost of inductors. Rising raw material costs could pose challenges for the market.
The Asia-Pacific region is expected to experience the most significant growth in the automotive-grade inductors market due to its high rate of passenger car production and increasing adoption of electrically monitored accessories. China, the largest automotive market globally, is projected to register 21 million vehicles by 2020, which will likely have a substantial impact on global sales of automotive-grade inductors.
Key Takeaways
- The automotive grade inductors market is expanding because of factors such as the growing need for integrated technology, the increasing prevalence of automobiles in emerging nations, and the increasing level of disposable money in those nations.
- Predicted fluctuations in raw material costs may restrain the automotive grade inductors market’s expansion.
- Market participants may wish to capitalise on the convergence of increased safety concerns and expanding foreign direct investment in the vehicle sector.
- Increases in both vehicle production and demand for passenger vehicles are expected to drive significant expansion of the automotive grade inductors market in Europe over the forecast period.
Competitive Landscape
Mouser Electronics, Inc., Laird Technologies, TDK Corporation, Abracon, TTI, Inc., Avnet, Inc., Vishay Intertechnology, Bourns, Inc., Murata Manufacturing Co., Ltd., and Viking Tech Corporation are just a few of the major companies operating in the global automotive grade inductors market.
Due to the large number of businesses operating in it, competition is fierce. Market leaders like TDK Corporation and Abracon operate on a worldwide scale, but there are also several regional level players present in all the important growing regions, especially in Asia-Pacific.
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Key Segments Covered in the Automotive Grade Inductors Market Report
Automotive Grade Inductors Market by Inductance Range:
- less than 1 Micro Henry
- from 1-10 Micro Henry
- from 10-20 Micro Henry
- from 20-30 Micro Henry
- from 30-40 Micro Henry
- more than 40 Micro Henry
Automotive Grade Inductors Market by Vehicle Type:
- Automotive Grade Inductors for Passenger Cars
- Compact
- Mid-Size
- Luxury
- SUV
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Automotive Grade Inductors Market by Sales Channel:
- OEMs
- Aftermarket
Recent Developments
A new line of shielded SMT power inductors, PCM120T, from TDK, was released in March 2022. These inductors include optimised designs for high saturation currents and low DC resistance.
In March 2022, Vishay Intertechnology released new commercial and Automotive Grade devices in the 2020 case size of 5 mm by 5 mm by 3.4 mm, expanding its IHLE family of low profile, high current power inductors having integrated E-field shields for the mitigation of EMI.
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