The market was valued at USD 4481.07 million in 2019 and it is expected to reach a value of USD 5485.09 million by 2025, at a CAGR of 3.5%, over the forecast period (2020-2025). The growth of the inductor market is currently experiencing steady growth, owing to the increasing number of product launches and developments in the consumer electronics sector, rising demand for passive electronic components, the growing use of inductors in automotive electronics, and increasing adoption of smart grids.
- Globally, the growing demand for consumer electronics, such as smartphones, tablets, portable gaming consoles, laptops, set-top boxes, and others, is the major factor that is driving the demand for various inductors. The market is also witnessing a boost in demand from high reliability and rugged applications in the industrial, aerospace & defense, and medical sectors.
- Further, the automotive sector is also proving the most prominent option for inductor manufacturers, owing to the increasing amount of electronics in automobiles. The major shift in new trends in the industry also includes increasing the ruggedness of industry-standard interfaces for industrial applications and customization, particularly in medical, aerospace & defense, and industrial sectors.
Scope of the Report
The different types of inductors covered in the scope of the study are Power Inductors and Frequency Inductors. The market is further segmented by different end-user verticals (Automotive, Computing, Aerospace & Defense, Communication, Consumer Electronics).
Key Market Trends
Wide-Adoption of Consumer Electronic Devices Expected to Surge the Demand
- Globally, the growing demand for consumer electronics, such as smartphones, tablets, portable gaming consoles, laptops, set-top boxes, and others, is the major factor that is driving the demand for various inductors. The evolution of touch screens and other advanced features in consumer electronics has led to attracting the consumers' interest in technology and indulged them in spending on purchasing products.
- The rising standards of living have further contributed to the increase in the sales of consumer electronics. The growing penetration of technology and internet throughout the developing regions, primarily, has surged the consumer interest toward the adoption of advanced digital devices.
- There is a steady rise in focus on innovative consumer electronics that are connected. The advancements in technology, such as the development of 2-in-1 inductor array products, that has resulted in the productive use of limited circuit space in handheld devices, provides users with multiple product solutions.
- Smartphone functionality is continuously expanding, from fingerprint verification to controlling and monitoring the manufacturing plant or home security systems. The high-end smartphone uses about 15-25 power inductors. The usage of inductors in these products and the growing consumer electronic devices with increased digitalization are driving the growth of the inductor market.
United States to Account for a Significant Portion of the Market Demand
- Owing to their various applications, inductors are one of the primary components of many electronic systems. Due to such extensive usage, there has been an increase in the usage of inductors in many industries across North America.
- The US consumer goods business is one of the largest in the world. According to the US Bureau of Labor Statistics data, the consumer goods market was estimated at USD 446 billion and is further expected to grow, thus bolstering the use of inductors.
- Inductors are also used in various electronic devices, such as motors, sensors, etc., in the US automotive industry. The automotive industry produced about 12 million passenger vehicles in 2016. The light vehicle sales accounted for 17.5 million units in 2016, according to International Trade Administration.
- Owing to increased applications in the US telecommunications and healthcare industries, fixed inductors are expected to register growth in the market. The healthcare sector is one of the sectors that has registered an increased expenditure over the past decade, in the United States. According to the Center for Medicare and Medicaid Services, the medical care for each person has increased to USD 9,990 per person.
The global inductor market's competitive landscape has also undergone a significant transformation over the past few years. The ensuing opportunities have resulted in intense competition. There are a significant number of inductor manufacturers vying for increasing market share. As a result, OEMs are enjoying more significant buying power with the leverage to choose an inductor manufacturer that best fits their business model and, more importantly, one that can adequately balance quality and price.
- April 2019 - Vishay Intertechnology, Inc. expanded its offering of Automotive Grade IHLP low profile, high current inductors with a new device in the 5050 case size. The AEC-Q200 qualified device released is optimized for energy storage in DC/DC converters up to 2 MHz.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support