Inductor Market Global Market Report 2023

An inductor, also known as a choke or reactor, stores energy in a magnetic field when an electrical current flows through it. It is a passive two-terminal electrical component that consists of a coil of wire wrapped around a core. It is primarily used in power electronic circuits for energy storage.

The main types of inductors are film type, multilayered, wire wound, and molded. A film inductor is a type of inductor that is based on small thin film coils that are shaped like spirals with limits on the maximum value. They are usually made from alumina, ferrite, or magnetic material, which allows for compact and higher precision performance. The different inductances are fixed inductors and variable inductors, including core types such as air core, ferromagnetic/ferrite core, and iron core. The applications of the inductor are power applications, high-frequency applications, and general circuits, that are used by multiple verticals such as automotive, industrial, RF, and telecommunication, military and defense, consumer electronics, transmission and distribution, and healthcare.

The global inductor market is expected to grow from $4.08 billion in 2022 to $4.33 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The inductor market is expected to grow to $5.32 billion in 2027 at a CAGR of 5.30%.

The inductor market research report is one of a series of new reports that provides inductor market statistics, including inductor industry global market size, regional shares, competitors with a inductor market share, detailed inductor market segments, market trends and opportunities, and any further data you may need to thrive in the inductor industry. This inductor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technological advancement is a trend gaining popularity in the inductor market. Major companies operating in the inductor market are focused on developing new technological solutions to strengthen their position in the market. For instance, in January 2020, at the University of Illinois Urbana-Champaign, a public land-grant research university in Illinois in the twin cities of Champaign and Urbana, researchers developed a microchip inductor capable of tens of millions of Tesla-level magnetic induction. The method assures a condensed magnetic field distribution and energy storage in 3D space while maintaining the minuscule footprint required to fit on a chip by using completely integrated, self-rolling magnetic nanoparticle-filled tubes. Traditional microchip inductors are 2D wire spirals that are large and produce increased inductance with each turn. By moving to a rolled membrane paradigm, which permits wire spiralling out of the plane and is separated by an insulating thin film from turn to turn, researchers were able to create 3D inductors utilising 2D processing.

In June 2022, iNRCORE LLC, a US-based company that designs and manufactures magnetic components, acquired Vanguard Electronics for an undisclosed amount. This acquisition helps iNRCORE to explore more opportunities and offer a wide range of products. Vanguard Electronics is a US-based company that designs and manufactures inductors and transformers.

North America was the largest region in the inductor market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the inductor report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the inductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The rising adoption of electric vehicles is expected to boost the growth of the inductor market going forward. An electric vehicle is a vehicle that is propelled by one or more electric motors (EV). The use of electric vehicles has increased due to their capacity to preserve energy security, reduce emissions, and improve fuel efficiency. Inductors are mounted in an electric vehicle control unit (EV-ECU), which is the control unit to manage various operations in electric vehicles. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising adoption of electric vehicles is driving the growth of the inductor market.

The inductor market consists of sales of iron core inductor, air core inductor, iron powder inductor, and ferrite core inductor. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major players in the inductor market market are TDK Corporation, Murata Manufacturing Co Ltd., Vishay Intertechnonogy Inc., Taiyo Yuden Co Ltd., Chilisin Electronics Corp, Delta Electronics Inc., Panasonic Corporation, ABC Taiwan Electronics Corporation, Pulse Electronics Corporation, Coilcraft Inc., Shenzhen Sunlord Electronics Co Ltd Ourns Inc., Sumida Corporation, Ice Components Inc., Bourns Inc., AVX Corporation, Gowanda Electronics, TT Electronics, Kyocera AVX , Samsung Electro-Mechanics , KEMET, Houston Transformer Company Ltd., Texas Instruments Incorporated, TOKIN Corporation, and SANYO Electric CoLtd.



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