Inductor Market Opportunities and Challenges

Northbrook, USA, 2020-Feb-11 — /EPR Network/ —

The global inductor market is estimated to grow from USD 3.8 billion in 2020 to USD 4.7 billion by 2025; at a CAGR of 4.2%. Major factors driving the inductor market growth are increasing demand for consumer electronics that require a large number of inductors and the rising adoption of electric vehicles. Recent advancements in wireless technologies such as 4G and 5G have increased the scope for electronic components in a wide range of applications in industrial and commercial sectors.

Based on type, the market for film type inductor is expected to grow at the highest CAGR. Film inductors are based on small spiral-shaped thin-film coils with limits on the maximum value of inductance. Film inductors, which are thin in size are most suitable for DC to DC converters, which serve as power supplies in smartphones and electronic devices. Owing to their small size, they are widely used in consumer electronics.

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Based on core type, ferrite core inductors held the largest market share in 2019. A ferromagnetic core uses iron or ferrite materials to increase inductance. It offers higher resistance compared with other inductor core types, however, it is not always reliable as it reaches its magnetic saturation level relatively quickly when dealing with high inductance. Ferrite core inductors are used in surface acoustic wave (SAW) filters and voltage-controlled oscillator (VCO) circuits for telecommunication, hard disks, notebook computers, and other electronic equipment. Several applications associated with ferrite core inductors are broadband transformers, noise filters, power transformers, converter and inverter transformers, and others. Multilayered ferrite inductors are used in various electronic devices such as CD-ROM, hard disks, modems, printers, computing devices such as personal computers and converters including DC-DC converters. Due to their adoption in a large number of applications, the demand for ferrite inductors is on the rise.

Based on vertical, the market for automotive is expected to grow at the highest rate. New technologies are being introduced in automobiles to reduce emissions and have a less environmental impact. Inductors, used in automotive applications, have to operate under harsh environmental conditions. They can be used in various applications such as engine and transmission control units, LED drivers, HID lighting, and noise suppression for motors. Advancements in the automotive industry such as passenger comfort and safety, as well as environmental considerations, require expanding electronics to accommodate the decreasing available space. As an increasing number of systems are becoming electrical instead of mechanical, high currents are required to be appropriately regulated and filtered. Also, due to the adoption and increase in the manufacturing of electric vehicles, the demand for inductors in automobiles has significantly increased.

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The inductor market in APAC held the largest size in 2019. The growth of the inductor market in APAC is driven mainly by the growth of the consumer electronics market in the region. APAC is witnessing dynamic changes in terms of the adoption of new technologies across various industries. As APAC has low labor costs, most of the inductors are manufactured in APAC and are exported to various regions. There is an extensive rise in the demand for power, which is increasing the need for power management and thereby, accelerating the demand for inductors.

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