Selbyville, Delaware , Dec. 04, 2024 (GLOBE NEWSWIRE) -- Inductors Market was valued at USD 6 billion in 2023 and is projected to be worth USD 10.8 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
As more consumers adopt advanced devices like smartphones, tablets, and wearables, the need for high-performance inductors becomes increasingly important. Inductors are vital for managing power and filtering signals, ensuring these devices operate efficiently and reliably. Additionally, the trend towards miniaturization has further boosted demand, prompting manufacturers to innovate and develop smaller inductors that still offer excellent performance without occupying too much space.
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Another significant driver of market expansion is the growing electric vehicle (EV) industry. With a global focus on sustainability and reducing carbon footprints, the EV sector is booming, supported by government incentives and changing consumer preferences. Inductors are essential in electric vehicles, particularly in power conversion and battery management systems. They handle high currents and minimize electromagnetic interference, making them crucial for EV functionality. As the EV market continues to grow, so does the demand for efficient inductors, ensuring a positive market outlook.
The inductors market is segmented by type into air core inductors, iron core inductors, ferrite core inductors, toroidal core inductors, multilayer inductors, and variable inductors. Among these, the multilayer inductors segment is expected to reach USD 3.2 billion by 2032. Air core inductors, which use air as the magnetic core material, are particularly useful in high-frequency applications. These inductors offer minimal distortion and excellent linearity, making them ideal for RF circuits, such as in radio transmitters and receivers. Their lightweight and simple construction, along with low electromagnetic interference, contribute to their widespread use.
In terms of application, the Inductors market is divided into power inductors, RF inductors, coupled inductors, multilayer inductors, and others. The RF inductors segment is set to grow fastest, with a CAGR of 8.6% from 2024 to 2032. Power inductors, essential in power management systems, are used to convert and regulate voltage levels in various electronic devices, such as power supplies and DC-DC converters.
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In North America, the U.S. dominates the Inductors market, accounting for 76.2% of the region's inductor demand. This is largely due to the strong demand for advanced electronic components driven by the thriving consumer electronics sector and significant investments in electric vehicle technology. The focus on innovation and continuous research and development in the country fosters a competitive environment for manufacturers, driving improvements in product performance and efficiency.
Inductors Market Players
Companies including Murata Manufacturing Co., Ltd., TDK Corporation, Taiyo Yuden Co., Ltd., Vishay Intertechnology, Inc., Coilcraft, Inc., Laird Performance Materials, Sumida Corporation, KYOCERA AVX Components Corporation., KEMET Corporation, Bourns, Inc., Chilisin Electronics Corp., Delta Electronics, Inc., Samsung Electro-Mechanics, Würth Elektronik GmbH & Co. KG, Panasonic Corporation are some firms working in inductors industry.
The inductors market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion & Thousand Units) from 2021 to 2032, for the following segments:
Market, By Type of Inductor
- Air core inductors
- Ferrite core inductors
- Iron core inductors
- Toroidal core inductors
- Multilayer inductors
- Variable inductors
Market, By Material
- Ferrite
- Iron
- Powdered iron
- Ceramic
- Air
- Laminated steel
- Others
Market, By Mounting Type
- Surface mount inductors (SMD)
- Through-hole inductors
- Chassis mount inductors
Market, By Size/Form Factor
- Miniature
- Standard
- Large
Market, By Application
- Power inductors
- RF inductors
- Coupled inductors
- Multilayer inductors
- Other specialized inductors
Market, By End-use Industry
- Consumer electronics
- Automotive
- Industrial
- Telecommunications
- Aerospace and defense
- Healthcare
- Energy and power
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
