The Inductor Market Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Inductor Market Global Market Report 2024, The inductor market size has grown strongly in recent years. It will grow from $4.33 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. . The growth in the historic period can be attributed to growth of consumer electronics, expansion of automotive electronics, increasing adoption of renewable energy sources, growth of industrial automation and robotics, increasing focus on inductor reliability and durability.
The inductor market size is expected to see strong growth in the next few years. It will grow to $5.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. . The growth in the forecast period can be attributed to emergence of 5g technology, rise of internet of things (iot) devices, increasing demand for electric vehicles (evs), expansion of artificial intelligence (ai), growing emphasis on energy efficiency and power management solutions. Major trends in the forecast period include technological advancements, miniaturization and integration of inductors, development of high-frequency and high-power inductors, adoption of advanced materials and manufacturing techniques, shift towards vertically integrated supply chains.
The rising adoption of electric vehicles is expected to boost the growth of the inductor market going forward. An electric vehicle is a vehicle that is propelled by one or more electric motors (EV). The use of electric vehicles has increased due to their capacity to preserve energy security, reduce emissions, and improve fuel efficiency. Inductors are mounted in an electric vehicle control unit (EV-ECU), which is the control unit to manage various operations in electric vehicles. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising adoption of electric vehicles is driving the growth of the inductor market.
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The inductor market market covered in this report is segmented –
1) By Type: Film Type, Multilayered, Wire Wound, Molded
2) By Inductance: Fixed Inductors, Variable Inductors
3) By Core Type: Air Core, Ferromagnetic/Ferrite Core, Iron Core
4) By Application: Power Applications, High-Frequency Applications, General Circuits
5) By End User Vertical: Automotive, Industrial, RF And Telecommunication, Military And Defense, Consumer Electronics, Transmission And Distribution, Healthcare
Technological advancement is a trend gaining popularity in the inductor market. Major companies operating in the inductor market are focused on developing new technological solutions to strengthen their position in the market. For instance, in June 2023, Bourns Inc., a US-based electronics company, launched Bourns Model SRN8040HA Series, an automotive grade semi-shielded power inductor series with advanced magnetic silicon-based coating technology. These are well-suited for automotive systems, DC-DC converters, and power supplies in consumer, industrial, and telecom applications in which higher inductor reliability may be required. It is constructed using Bourns’ advanced magnetic silicon-based coating technology, which offers superior magnetic shielding while also enabling higher operating temperatures. The SRN8040HA series supports high current capacity with saturation current Isat ranging from 1.3 to 15 A and provides a heating current Irms range of 1.0 to 10.0 A.
The inductor market market report table of contents includes:
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