Inductor Market Size is Expected to Reach USD 7.2 billion, Growing at a CAGR of 3.9% by 2031: Transparency Market Research, Inc.

Increasing adoption of industrial automation drives the demand for inductors in power supplies and motor control systems.

Wilmington, Delaware, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global inductor market is estimated to flourish at a CAGR of 3.9% from 2022 to 2031. Transparency Market Research projects that the overall sales revenue for inductor is estimated to reach US$ 7.2 billion by the end of 2031.

As quantum computing gains momentum, there is an emerging need for specialized inductors to support the unique requirements of quantum processors. These inductors play a crucial role in maintaining stable magnetic fields, contributing to the evolving landscape of quantum computing technology.

The proliferation of wireless charging technologies, especially in consumer electronics and automotive sectors, propels the demand for inductors designed for efficient wireless power transfer. The push towards seamless and cord-free charging experiences marks an exciting frontier for inductor applications.

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With the rise of edge computing, there is an increased demand for compact and high-performance inductors to support the miniaturized and decentralized data processing systems. Inductors play a vital role in power supply units for edge computing devices, influencing the market in this innovative tech domain.

Inductor Market: Competitive Landscape

The inductor market is characterized by intense competition, marked by key players striving for innovation and market dominance. Industry leaders like TDK Corporation, Vishay Intertechnology, and Murata Manufacturing Co., Ltd., consistently drive advancements in inductor technology, meeting the escalating demand for smaller, more efficient electronic components.

Emerging players, such as Coilcraft and Taiyo Yuden, bring new perspectives and solutions to the market. Factors such as miniaturization, increased power density, and the growing prominence of renewable energy applications shape the competitive landscape, fostering a dynamic environment where technological prowess and product differentiation are paramount for success. Some prominent manufacturers are as follows:

  • ABB
  • CG Power & Industrial Solutions Ltd.
  • Eaton Corporation plc.
  • Efacec
  • Fuji Electric Co. Ltd.
  • General Electric
  • Hyosung Heavy Industries
  • Powell Industries Inc.
  • Siemens AG
  • Schneider Electric SE
  • Mitsubishi Electric Corporation
  • BHEL
  • Regal Rexnord Corporation

Product Portfolio

  • Efacec is a global leader in innovative energy solutions. From electric mobility to smart grid technologies, Efacec's diverse portfolio transforms the way we power our world, emphasizing sustainability and efficiency for a brighter, cleaner future.
  • Fuji Electric Co. Ltd. pioneers cutting-edge technologies in energy and industrial systems. With a commitment to quality and reliability, Fuji Electric delivers advanced solutions, including power electronics, renewables, and smart grids, driving progress across industries.

Key Findings of the Market Report

  • Fixed Inductors dominate the inductor market, providing stable and consistent inductance values, meeting the demands of diverse electronic applications efficiently.
  • Multilayered inductors lead the market, offering compact designs and superior performance, meeting the demands of miniaturized electronic devices in various applications.
  • Ferrite Core dominates the inductor market, offering high magnetic permeability and versatility, catering to diverse applications in electronics and power systems.

Inductor Market Growth Drivers & Trends

  • The proliferation of electronic devices, from smartphones to automotive systems, propels the inductor market, driven by increased connectivity and miniaturization.
  • The global rollout of 5G networks amplifies the demand for inductors, essential components in telecommunications infrastructure, as the world embraces faster and more efficient connectivity.
  • Growing adoption of renewable energy solutions, such as wind and solar power, fuels the need for inductors in energy conversion and storage systems, driving market growth.
  • The shift toward electric vehicles intensifies the demand for inductors in power electronics, supporting the automotive industry's transition to cleaner and sustainable technologies.
  • Increasing emphasis on miniaturization and high-frequency applications in various industries, including healthcare and aerospace, underscores the need for specialized inductors, shaping market trends.

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Global Inductor Market: Regional Profile

  • In North America, the inductor market is propelled by a surge in technological advancements and a flourishing electronics sector. With key players like TDK Corporation and Vishay Intertechnology, the region witnesses a dynamic landscape marked by innovation and research. The demand for inductors in automotive, aerospace, and telecommunications applications continues to rise, driven by the region's focus on smart technologies and the Internet of Things (IoT).
  • Europe boasts a sophisticated inductor market, characterized by stringent quality standards and a strong emphasis on renewable energy. Leading companies like Murata Manufacturing Co., Ltd. and Coilcraft contribute to the region's technological prowess. The automotive industry's growing reliance on electric vehicles and the expansion of 5G networks drive the demand for inductors. Europe's commitment to reducing carbon emissions aligns with the market's focus on energy-efficient solutions, propelling innovation and market expansion.
  • Asia Pacific dominates the inductor market, fueled by the robust electronics manufacturing ecosystem in countries like China, Japan, and South Korea. The region is a hotbed for production, with companies like Taiyo Yuden playing a pivotal role. The burgeoning demand for consumer electronics, coupled with the rapid deployment of 5G infrastructure, significantly contributes to the market's growth.

Inductor Market: Key Segments

By Inductance

  • Fixed Inductors
  • Variable Inductors

By Type

  • Film Type
  • Multilayered
  • Wire Wound
  • Bobbin
  • Toroidal
  • Molded
  • Other (Coupled, Inductors, etc.)

By Core Type

  • Air Core
  • Ceramic Core
  • Ferrite Core
  • Iron Core
  • Other (Iron Powder Core, Inductor, Laminated Core, Inductor, etc.)

By Shield Type

  • Shielded
  • Unshielded

By Mounting

  • Surface Mount
  • Through Hole

By Application

  • Tuning Circuit
  • Energy Storage Devices
  • Induction Motors
  • Transformers
  • Power Supply
  • Others (Inductive Filters, Relays, etc.)

By End-Use Industry

  • Automotive and Transportation
  • Industrial
  • Aerospace and Defense
  • Electronics and Semiconductor
  • Energy and Utility
  • Healthcare
  • Others (Food & Beverage, Metal and Mining, etc.)

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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