Wilmington, Delaware, United States, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - According to TMR study, the global metal composite power inductor market is anticipated to grow at a CAGR of 4.7% during the forecast period from 2022 to 2031.
Metal composite power inductors are two terminal passive components, also called reactors or coils. The aim of using metal composite power inductors is to keep volatile circuits stable to decrease core losses. Few product features of metal composite power inductors are high permeability for higher inductance, acoustic noise & power, and small size.
The end-use industries that utilize metal composite power inductors are aerospace & defense, automotive, consumer electronics, industrial, healthcare, and IT & telecom. Few application areas of metal composite power inductors are tuning circuits, module circuits, DC-DC converters, and filters.
Launch of new products is helping leading market players in gaining an edge over other players and in generating revenue. In January 2022, Panasonic Corporation announced the launch of a new power inductor that can be used in automotive applications such as autonomous driving systems and advanced driver assistance systems.
Additionally, prominent metal composite power inductor market players are signing collaborative agreements with smaller players to expand presence and increase revenue share.
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Key Findings of Market Study
- Growth in Automotive Industry Worldwide: The global automotive industry has witnessed continuous expansion in the past few years. Rise in focus on the development of electric vehicles is fueling demand for metal composite power inductors and bolstering market development. Increase in R&D expenditure to develop improved automotive technology is driving the automotive industry, which, in turn, is fueling demand for metal composite power inductors.
- Rise in Implementation of 5G/6G Networks: The wireless communication network industry has experienced continuous growth in the past few years due to the introduction of 5G and 6G networks worldwide. Surge in adoption of 5G networks has fueled the usage of metal composite power inductors in smartphones, thereby helping business growth. Rise in the implementation of 5G, 6G, or 7G networks in future is likely to drive demand for inductors.
- Increase in Demand for Wire Wound Metal Composite Power Inductors: In terms of type, global market has been segmented into wire wound, multilayered, thin film type, and others such as molted inductors and coupled inductors. The wire wound segment accounted for dominant market share in 2021. Wire wound metal composite power inductors are smaller, provide maximum current, and have a radial through-hole indicator.
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Metal Composite Power Inductor Market - Key Drivers
- Growing trend of miniaturization in the consumer electronics industry is driving the global market
Metal Composite Power Inductor Market - Regional Landscape
Asia Pacific accounted for dominant market share in 2021. Surge in research & development activities in electronics & semiconductor technology and supportive government initiatives in the development of the electronics industry in countries such as China and India.
Metal Composite Power Inductor Market - Key Players
The global market is fragmented and has several international and local players. Entry of new players is likely to intensify the competition during the forecast period.
Key players operating in the market are Panasonic Industry Europe GmbH, Pulse Electronics, Abracon LLC, Viking Tech Corporation, and Wurth Electronics, Inc.
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The global market has been segmented as follows:
- Type
- Thin Film Type
- Multilayered
- Wire Wound
- Other (coupled inductors, molded inductors)
- Thin Film Type
- Mounting
- Surface Mount
- Through Hole
- Surface Mount
- Application
- Tuning circuits
- Module Circuits
- DC-DC converters
- Filters
- Tuning circuits
- End-use Industry
- Aerospace and Defense
- Automotive
- Consumer Electronics
- Industrial
- Healthcare
- IT and Telecom
- Others (Energy and Utility, Metal and Mining)
- Aerospace and Defense
- Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America
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