Inductors Market Overview
Report analyses the Global Inductors Market size, shares, recent trends, competitive intelligence, and future market outlook. Demand from Consumer electronics, Automotive, Power Industry in North America is rising. Competitive rivalry intensifies with Eaton Corporation Plc, TDK Corporation, Delta Electronics, Inc and others operating in the market. Inductors find applications in multiple areas such as the automobile, electronics, healthcare, industrial, transmission and distribution, manufacturing segment, RF and telecommunication, military and defense, in filters, sensors, transformers, motors, and energy storages among others.
An inductor, also known as a coil or choke, is a passive two-terminal electrical component that stores electric energy in a magnetic field when electric current flows through. Inductors are connected to the circuit to elevate the inductance to an optimal value; the inductance is dependent on the count of turns/loops of the inductor surrounding the metal or air. Electric current flowing through a conductor generates a magnetic field surrounding it.
Inductors are most widely employed for power management. The growth in the industry is fueled by the increasing application of inductors in power management solutions across various industries. Consumer electronics is the major market for inductors with the increasing use of smartphones and smart electronics, followed by the automotive and power industries.
Market Summary
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Type, By Core Type, By Frequency, By Application and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
Technical advancements in inductor usage based on application and demand for high-performance inductors in smartphones are the key drivers for market growth. Rising demand for inductors from the end-user industries is a crucial factor boosting the growth of the global inductor market. The increasing demand has driven major companies and R&D organizations to develop technologically advanced products to meet the growing demand capabilities, improve their product portfolio and contribute to the growth of their market competitiveness. The major end-users of inductors are consumer electronics such as smartphones, tablets, laptops, smartwatches, automotive applications, the power generation industry, and others. Murata Manufacturing Co., Ltd. developed a new lineup of power inductors with electro-static discharge withstand voltage characteristics that are the highest level in the industry for use in automotive power supplies.
The demand for high-performance inductors in smartphones is a major factor responsible for the growth of the global inductors market. Inductors are widely used in smartphones, such as applications ranging from wireless LAN’s, Bluetooth connectivity, signal processing, communication systems, high-frequency applications, and others. Smartphones designed for Long Term Evolution (LTE) must serve ever more frequency bands for telephony and data transfer. At the same time, these devices and tablets offer a series of connectivity functions, including WLAN, Bluetooth, NFC, and GPS, as well as radio and TV reception. The number of inductors required for impedance matching and filtering increases in line with the numerous RF circuits used. According to a survey report by the International Data Corporation(IDC), the global sales value of smartphones in 2017 was US$ 478.7 billion. The total number of smartphones sold to end-users in 2010 was 296 million units, and the figure surged to 1495 million units in 2016 reaching 1536 million units in 2017.
Fluctuating prices of raw materials is the major restraint hampering the growth of the market. Copper is one of the major constituent raw materials of an inductor. The price of copper per pound increased from $2.13 in 2015 to $2.5 in 2016 and continued to increase to $3.3 in 2017 and plummeted to $2.65 in 2018. A similar fluctuating price trend was observed during 2011–2014.
Market Segmentation Analysis
Based on type, the global market for inductors is broadly segmented as fixed inductor and variable inductor. The fixed Inductor market size was worth $ 1,380.16 million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach $ XX million by 2026. The fixed Inductor market share was around 67.16% if the total market in 2018, and is expected to reach XX% by 2026. The fixed conductors available in commercial markets are primarily used for smoothening of rectified AC currents, noise suppression, and energy storage, with applications including electronic ballast, HF converters for halogen lamps, and low power Switched Mode Power Supply (SMPS). The companies are focused on the development of inductor capabilities to expand product applications. For instance, Panasonic Corporation offers fixed inductors for automotive applications owing to the high efficiency of the power circuit and downsizing for Electronic Control Unit (ECU) after the use of fixed inductors.
On the basis of core type, the global market for inductors is classified into air core, ferromagnetic/ferrite core, laminated core, and others. The Air Core Inductor market size was worth $XX million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period. The air core inductor market share accounted for 34.21% of the global market in 2018. The air-core inductors are typically used to deploy coils wound on plastic, ceramic, and other non-magnetic materials, enabling energy loss-free functioning at high frequencies. The commercial availability of air-core inductors in miniature to larger sizes for radiofrequency and microwave applications is expected to present growth opportunities to manufacturers looking to expand global business activities. For instance, Coilcraft Inc. introduced AT392RAS inductors, targeting applications where high temperatures can be encountered. The components of the inductor are manufactured to meet the requirements of these demanding applications. Air-core design and select materials allow operation in ambient temperatures as low as –60°C and up to 240°C.
Depends on frequency, the global market for inductors is categorized into Up to 100 kHz, 100 kHz to 1 MHz, and More than 1 MHz.
Based on application, the global market for inductors is classified into consumer electronics, power industry, automotive, and others.
Market Geographical Share
The global Inductors Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The North America Inductors Market is valued at US$ 388.18 Million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach US$ XX Million by 2026. The US held 73.15% of the North America Global Inductors Market value market share in 2018 and is expected to reach XX% by 2026. The North American Inductors Market is anticipated to exhibit positive growth owing to the rising automobile sales in the US. Inductors are widely used in automobile applications in audio systems, ECU units, transmission units, noise suppression systems for motors, and others. Regional companies are focusing on new product launches to expand their product portfolio and contribute to the improvement of their market competitiveness. For instance, in January 2019, Vishay Inter technology has disclosed its automotive-grade IHLP inductor in the 4040 case size sports with an increased profile of 5.4 mm. the new product offers reduced DCR, increased handling of current, higher inductance rate, and a high operating temperature range over 155°C.
The Asia Pacific Inductors Market size was worth $1153.52 Million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period. The Asia Pacific market covers China, Japan, South Korea, India, Australia, and Rest of Asia Pacific in its scope. China held 76.23% of the Asia Pacific Inductors Market in 2018 and is expected to reach XX% by 2026, for Global Inductors Market. The growth in the industry is mainly due to rapid industrialization and growing middle-class population and spending power that lead to increased investment in advanced consumer electronics and automotive. The growth is mainly supported by developing economies, such as India, China, and Japan. Due to the large pool of population, with increasing technological transformation such as from 3G to 4G, and ongoing developments for 5G, which doubles the need for electronics will further drive the growth in the forecast period.
According to the World Bank, the urbanization rate of Saudi Arabia is witnessing a gradual annual increasing rate. Growing oil production in the middle eastern countries have also surged the demand for electricity production in the middle eastern countries which in turn has led to the increase in demand for Inductors.
According to statistics published by the International Organization of Motor Vehicle Manufacturers (OICA), the automobile sales in Europe increased from 1,90,35,989 units in 2015 to 2,01,34,829 units in 2016 finally reaching 2,09,16,025 units in 2017. This impacts the market to grow steadily in this region.
Inductors Manufacturers
A few crucial market players are Eaton Corporation Plc, Samsung Electro-Mechanics, TDK Corporation, Agile Magnetics, Inc., Panasonic Corporation, Delta Electronics, Inc., AVX Corporation, Pulse Electronics, and Coilcraft Inc.
The competitiveness scenario of Global Inductor Market is highly intensive, with the majority of market players following the business strategy of product launches as a means to capture significant market share.
The expansion of the product portfolio to serve an extended consumer base is poised to present new opportunities for companies to strengthen global market position.
In February 2019, TDK Corporation launched the TFM252012ALVA thin-film metal power inductors that can be connected directly to a 12 V car battery while maintaining small dimensions with a footprint of just 2.5 mm × 2.0 mm and a height of 1.2 mm. The magnetic metal core these newly developed inductors offer a rated current of 1.6 A and an inductance of 4.7 μH. They are able to withstand severe temperature environments with an operating temperature range of -55 °C to +150 °C.
In November 2018, Murata Manufacturing Co., Ltd. developed a new lineup of power inductors with Electro-static discharge withstand voltage characteristics that are the highest level in the industry for use in automotive power supplies.
