Global Inductor Market Report 2024: Size, Drivers, And Top Segments
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How is the Inductor Market Expected to Expand from 2024 to 2033?
The market size for inductors has significantly expanded in the past few years. The market is projected to increase from $4.33 billion in 2023 to $4.6 billion in 2024, with a compound annual growth rate (CAGR) of 6.2%. The increase in the historic period is owing to the growth in the consumer electronics sector, the expansion of automotive electronics, an increased adoption of renewable energy sources, advancement in industrial automation and robotics, and an increased emphasis on the reliability and durability of inductors.
There is predicted to be robust expansion in the inductor market in the upcoming years, as its value is forecasted to rise to $5.89 billion by 2028, reflecting a compound annual growth rate (CAGR) of 6.4%. This projected growth within the forecast time frame can be ascribed to various factors, which include the advent of 5G technology, the upsurge of Internet of Things (IoT) devices, escalating demand for Electric Vehicles (EVs), broadening of Artificial Intelligence (AI), and a rising focus on energy efficiency and power management solutions. Expected trends during the forecast period cover technological innovation, the reduction in size and consolidation of inductors, creation of high-frequency and high-power inductors, utilization of new materials and manufacturing methods, and the move towards vertically integrated supply chains.
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What Influences Are Propelling the inductor Market Forward?
The growth of the inductor market is anticipated to be spurred by the increasingly widespread use of electric vehicles. Electric vehicles, which are powered by one or more electric motors, have seen a surge in popularity due to their improved fuel efficiency, emission reduction capabilities, and energy security benefits. Inductors are installed in electric vehicle control units (EV-ECU), which are responsible for managing various activities in electric vehicles. A clear example of this trend is highlighted in the Global EV Outlook 2022 report published in May 2022, which documented that electric vehicle sales had doubled in 2021 compared to the previous year, hitting a record 6.6 million. In addition, sales of electric cars globally reached 6,600,000 units in 2021, up from 2,980,000 units. Hence, the inductor market’s growth is propelled by the increasing adoption of electric vehicles.
What Key Segments Exist Within the Inductor Market?
The inductor market market covered in this report is segmented –
1) By Type: Film Type, Multilayered, Wire Wound, Molded
2) By Inductance: Fixed Inductors, Variable Inductors
3) By Core Type: Air Core, Ferromagnetic/Ferrite Core, Iron Core
4) By Application: Power Applications, High-Frequency Applications, General Circuits
5) By End User Vertical: Automotive, Industrial, RF And Telecommunication, Military And Defense, Consumer Electronics, Transmission And Distribution, Healthcare
What Trends Are Coming to the Forefront in the Inductor Market?
The progression of technology is a prevailing trend within the inductor market. To consolidate their market position, large enterprises in the inductor market are prioritizing the development of innovative technological solutions. An example of this was when Bourns Inc., a US electronics firm, unveiled the Bourns Model SRN8040HA Series in June 2023. This product, an automotive-grade semi-shielded power inductor series, employed upgraded magnetic silicon-based coating technology. They are apt for automotive systems, DC-DC converters, and power supplies in consumer, industrial, and telecom applications where there might be a need for enhanced inductor reliability. The product leverages Bourns’ advanced magnetic silicon-based coating technology for improved magnetic shielding and the ability to withstand higher operating temperatures. The SRN8040HA series can support high current capacity with an Isat ranging from 1.3 to 15 A, and a heating current Irms range of 1.0 to 10.0 A.
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What Regions Are Leading the Charge in the Inductor Market?
North America was the largest region in the inductor market in 2023. 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, Africa.
The Inductor Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the inductor market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Inductor Market Include
1. Inductor Market Executive Summary
2. Inductor Market Segments
3. Inductor Market Size And Template Market Growth Rate
4. Key Inductor Market Trends
5. Major Inductor Market Drivers
……
25. Key Mergers And Acquisitions In The Inductor Market
26. Top Inductor Companies
27. Inductor Market Opportunities And Strategies
28. Inductor Market, Conclusions And Recommendations
29. Appendix
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