The global inductor market is expected to surpass US$ 11,862.1 Mn by 2022, growing at a 5.6% year-on-year rate. The overall demand for inductors is expected to grow at a 6.1% CAGR between 2022 and 2032, totaling a market valuation of US$ 21,417.5 Mn by 2032, due to rising adoption across automotive, industrial, and consumer electronics.
An inductor is a two-terminal passive electrical component that stores energy in a magnetic field when an electric current passes through it. In many switched-mode power supplies, inductors are widely used as energy storage devices to generate DC (direct current).
The majority of inductors are used as filters to reduce ripple in electronic circuits. They are also used to limit switching and fault currents in electrical transmission systems.
Rising production and usage of electronic products globally as a result of rapid digitalization is expected to drive the inductor market during the forecast period.
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.
East Asia, led by China, is emerging as the most profitable inductor market due to the rapid growth of the consumer electronics and automotive industries, favorable government support, and easy availability of raw materials.
China’s economy has grown steadily in recent years, fueled primarily by an export boom. China is a major exporter of electronic components in the East Asian region. China’s worldwide production share of electronic circuit components is around 32.9%, well ahead of other electronics manufacturing hubs.
The U.S. 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 U.S. inductor market.
Germany’s inductor market is expected to grow at a healthy CAGR of 6.8% during the forecast period. Sales in the country are projected to increase by 2x times by the end of 2032, generating revenues worth US$ 932.1 million.
Global Inductor Market By Category
By Inductance Type:
- Fixed Inductors
- Variable Inductors
- Film Type
- Wire Wound
By Core Type:
- Air Core
- Ferrite Core
- Iron Core
By Mounting Technique:
- Surface Mount
- Through Hole
- RF, Telecommunications & High Frequency Applications
- Military and Defense
- Consumer Electronics
- Power Generation, Transmission, and Distributions