Registering a year-on-year growth of 5.6% in 2022, the global inductor market is expected to surpass USD 11,862.1 Million 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 to 2032, totaling a market valuation of USD 21,417.5 Million by 2032.
An inductor is a passive two-terminal electrical component that stores energy in a magnetic field when electric current flows through it. Inductors are widely used as energy storage devices in many switched-mode power suppliers to produce DC (direct current).
Most of the inductors are used as filters to reduce the amount of ripple in electronic circuits. They are also used in electrical transmission systems, where they limit switching currents and fault currents.
Rising production and usage of electronic products across the globe due to rapid digitalization are expected to boost the growth of the inductor market during the forecast period.
Modern technologies are increasingly in demand, and many systems are being electrified in various regions. The demand for various components used in creating electronic gadgets tends to rise as electrification technologies advance.
One of the main factors driving the demand for inductors used for power conversion is the growing popularity of power electronics. Additionally, a significant increase in the use of electronically operated equipment such as automated machinery with computer numerical control across various industries is expected to boost the global inductor market.
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.
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 the growing penetration of digitalization and the increasing popularity of electric vehicles.
Regionally, East Asia, spearheaded by China, is emerging as the most lucrative inductor market owing to the rapid growth of consumer electronics and automotive industries, favorable government support, and easy availability of raw materials.
In recent years, China's economy expanded steadily, fuelled mostly by an export boom. In the East Asia region, China is a prominent country in the export of electronic components. China's worldwide production share of electronic circuit components is around 32.9%, well ahead of other electronics manufacturing hubs.
| Attribute | Key Insights |
|---|---|
| Global Inductor Market Base Value (2021A) | USD 11,229.9 Million |
| Estimated Market Value (2022E) | USD 11,862.1 Million |
| Projected Market Value (2032F) | USD 21,417.5 Million |
| Value-based CAGR (2022 to 2032) | 6.1% |
| Collective Value Share: Top 3 Countries (2022E) | 36.1% |
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The global inductor market increased at a CAGR of about 2.9% between 2017 to 2021. However, with the rapid growth of consumer electronics and automotive industries, FMI predicts the overall inductor market to develop at 6.1% CAGR through 2032.
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 the inductor market.
Inductors, which are used in electric vehicles, provide low resistance, enhanced saturation properties, and stability over a range of temperatures. They boost a vehicle's performance and economy by decreasing energy losses and preventing unwanted self-heating.
Demand for electronics components, including inductors, is anticipated to grow as a result of increased advancements in the mobility sector and a shift in consumer preference toward electric vehicles.
Similarly, the growing adoption of inductors in consumer electronics, medical devices, and military & defense equipment is expected to boost sales in the global inductor market during the forecast period.
Rapid Digitalization and Miniaturization of Electronics to Boost Market Through 2032
Increasing demand for small-sized electronic devices such as mobile phones and tablets is boosting the sales of electronic components such as inductors. Factors such as reduced device size, reduced weight, and enhanced device performance are boosting the demand for thin film inductors across several applications.
Due to their tiny sizes, the inductors are more heat resistant and electrically stable, which helps in reducing electrical noise. Increasing disposable income and changing consumer preference towards lightweight and small-sized communication devices are leading to manufacturers focusing on developing semiconductor devices with miniature, efficient components.
The demand for small electronic components is on the rise as a result of rapid digitalization and the rising penetration of automation. Thus, the growth of the inductor market will be driven by a rapid expansion of the electronics industry, the shrinking of contemporary electronic gadgets, the rising popularity of electric vehicles, and the growing usage of advanced technology in automobiles.
Principal Consultant
Booming Consumer Electronics Sector Driving the USA Inductor Market
The USA holds around 79.7% market share of the North American 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 USA inductor market.
In the USA, consumer electronics is a very dynamic industry with rapidly changing technological developments and innovations in consumer products. The use of inductors is increasing more and more to provide low DCR characteristics and large currents. Hence, rising demand for wearable electronic devices and a growing preference for automation technology in various industries are expected to boost the demand for the inductor market during the forecast period.
Similarly, the USA market is expected to increase steadily over the forecast period, thanks to the development of new and innovative products that involve the majority of the country's leading companies. According to FMI, the USA inductor market would reach USD 3,929.9 Million in sales by the end of 2032.
Growing Popularity of Electric Vehicles to Boost Inductor Market in Germany
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 USD 932.1 million.
The rising adoption of inductors across thriving automotive and industrial sectors is a key factor boosting the growth of the German inductor market.
German manufacturers are creating inductors to boost the electronics equipment industry. As it transitions to a new energy mix, Germany's electric transmission infrastructure faces huge hurdles. The existence of significant electric vehicle automotive businesses in the area is anticipated to drive faster market expansion during the projected period.
Rising Export of Electronic Products Igniting Sales in China
With booming automotive and electrical & electronics industries China is emerging as one of the fastest-growing inductor markets across the globe. FMI predicts the China inductors market to surpass revenues of USD 795.5 Million by 2032.
Urbanization, fast economic expansion, and population growth are boosting the demand for infrastructure development in China. China has become the world's largest maker of many electronic appliances, such as color TVs, DVDs, and cell phones. China also now has a leading-edge semiconductor industry.
International investors are showing interest in China’s electronic infrastructure sector. China still has the most households without power due to its enormous population. The Chinese government is focusing on improving state electricity boards, which has resulted in a significant increase in infrastructure for rural electrification. This will continue to propel sales of inductors during the forecast period.
Similarly, the rise in the export of electronic products is playing a crucial role in expanding the inductor market. According to the World Population Review, China exported an estimated USD 2.72 trillion worth of goods and services, primarily electronic equipment and machinery such as computers, broadcast equipment, computers, integrated circuits, office machine parts, telephones, etc.
Demand to Remain High for Air Core Type Inductors in the Market
As per FMI, the air core type inductor segment will generate an absolute incremental opportunity of USD 5,143.5 Million between 2022 to 2032, making it the fastest-growing core type segment. This can be attributed to the rising usage of air-core type inductors across various end-use industries.
Air core inductors provide effective solutions for switch mode magnetic requirements, especially when focusing on high linearity, high frequency, and reduced core loss. In addition, these inductors are an ideal solution when space is not prohibitive.
Air core inductors offer numerous advantages, such as being saturation free. Inductors with ferromagnetic cores tend to become saturated as the current increases. Air core models, however, have no core to saturate, and therefore are independent of electrical currents.
Without ferromagnetic cores, these inductors eliminate iron losses as frequency increases, the cores offer better Q factor and lower distortion. Air core can achieve peak performance of up to 1GHz. They are essential for a variety of high-tech applications such as electronic products, computer devices, communication equipment, TVs, DVDs, mobile chargers, etc.
Surface Mount Technology Remains the Most Preferred Mounting Technique
According to Future Market Insights, more than 60% of the global inductor market is held by surface mount technology. The surface mount technique enables a smaller PCB design by allowing more components to be placed closer together on the board.
The surface mount technique leads to designs that are more lightweight and compact. The process for production setup is faster when it comes to the surface mount technique as compared to through-hole technology. This is because drilled holes are not required for assembly which also enables lower cost.
Growing adoption of surface mount technology mostly in printed circuit boards and consumer electronics applications will further boost the growth of this segment during the forecast period.
Amid growing preference for surface mount technology over its counterpart, the segment is expected to generate an absolute dollar potential of more than USD 5,317.2 Million between 2022 to 2032.
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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,
Several producers have risen to prominence in this sector. International market leaders are concentrating on establishing partnerships and joint ventures with foreign local companies to guarantee proper local marketing of the products, acquire a competitive edge over rivals, and enjoy additional benefits including popularity in brand value over time.
This element will also present the potential for boosting production capacity, lowering production costs, and preserving market positions for both domestic and foreign firms.
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 11,862.1 Million |
| Projected Market Size (2032) | USD 21,417.5 Million |
| Anticipated Growth Rate (2022 to 2032) | 6.1% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Million Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia Pacific; and The Middle East and Africa |
| Key Countries Covered | United States of America, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, Turkey, South Africa, GCC Countries, and Northern Africa. |
| Key Segments Covered | By Inductance, By Type, By Core Type, By Mounting Technique, By Application, and By Region |
| Key Companies Profiled | Murata Manufacturing; TDK Corporation; Vishay Intertechnology; Taiyo Yuden Co., Ltd.; Chilisin; Delta Electronics; Panasonic; ABC Taiwan Electronics; Pulse Electronics; Coilcraft; Shenzhen Sunlord Electronics; Bourns Inc.; ICE Components, Inc.; Kyocera Corp AVX; Bel Fuse Inc.; Wurth Elektronik; TE Connectivity; Samsung Electro-Mechanics Co. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global inductor market is expected to total USD 11,862.1 Million in 2022.
Demand for inductors is anticipated to increase at 6.1% CAGR during the forecast period from 2022 to 2032.
The worldwide inductor market is likely to reach a valuation of USD 21,417.5 Million by 2032.
Murata Manufacturing, TDK Corporation, Vishay Intertechnology, TAIYO YUDEN, Samsung Electro-Mechanics, KYOCERA AVX Components Corporation, and others are the leading market players, collectively accounting for 20% to 25% of the global market share.
Demand for inductors in Germany is expected to increase at 6.8 % CAGR between 2022 to 2032 on a value basis.
Consumer electronics segment leads the inductor market with over 36.5% of the total market share.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Inductance 9.1. Fixed Inductors 9.2. Variable Inductors 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Type 10.1. Film Type 10.1.1. Thin Film 10.1.2. Thick Film 10.2. Multilayered 10.3. Wire Wound 10.3.1. Bobbin 10.3.2. Toroidal 10.4. Molded 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Core Type 11.1. Air Core 11.1.1. Ceramic Core 11.1.2. Phenolic Core 11.2. Ferromagnetic/Ferrite Core 11.2.1. Soft Ferrites 11.2.2. Hard Ferrites 11.3. Iron Core 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Mounting Technique 12.1. Surface Mount 12.2. Through Hole 13. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application 13.1. Automotive 13.2. Industrial 13.3. RF & Telecommunication and High-Frequency Application 13.4. Military & Defense 13.5. Consumer Electronics 13.6. Power Generation, Transmission & Distribution 13.7. Healthcare 14. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 14.1. North America 14.2. Latin America 14.3. Europe 14.4. Middle East and Africa 14.5. East Asia 14.6. South Asia and Pacific 15. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 20. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 21. Emerging Countries Market Analysis 22. Market Structure Analysis 23. Competition Analysis 23.1. Murata Manufacturing 23.2. TDK 23.3. Vishay Intertechnology 23.4. TAIYO YUDEN 23.5. Chilisin 23.6. Delta Electronics 23.7. Panasonic 23.8. ABC Taiwan Electronics 23.9. Pulse Electronics 23.10. Coilcraft 23.11. Shenzhen Sunlord Electronics 23.12. Bourns 23.13. ICE Components 23.14. Kyocera Corp AVX 23.15. Bel Fuse Inc. 23.16. Wurth Elektronik 23.17. TE Connectivity 23.18. Samsung Electro-Mechanics 24. Assumptions and Acronyms Used 25. Research Methodology
Industrial Automation
June 2022
REP-GB-703
250 pages
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Inductor Market
