Inductor Market Size, Share, Opportunities, And Trends By Type (Air Core Inductor, Iron Core Inductor, Others), By End User Industry (Automation, Industrial, Telecommunication, Defense, Consumer Electronics, Others), By Application (Radio And High Frequency Applications, Power Supplies, DC-DC Convertors, Mobile Communication Systems, Others), And By Geography - Forecasts From 2024 To 2029

The inductor market is expected to grow at a CAGR of 4.11%, reaching a market size of US$7.428 billion in 2029 from US$5.604 billion in 2022.

An inductor, also called a coil, reactor, or choke, is a two-terminal electric component that stores energy in the magnetic field when electric current flows through it.

Growing demand for consumer electronics such as smartphones, tablets, laptops, set-top boxes, portable gaming consoles, and others is the major factor driving the demand for various inductors worldwide.

The global inductor market is swelling, necessitating inductors from the telecommunication, industrial, automotive, and defence sectors to grow. Besides, there is a growth in consumer electronics spending in these nations, which also raises demands on inductors. In 2023, the Consumer Technology Association projects that domestic spending on consumer electronics and related technology will total $485 billion. 

What are the inductor market growth drivers?

• The growing use of inductors in the automotive industry

The growing adoption of inductors in automotive electronics parts is expected to be one of the prime drivers of the market growth. As of today, the market is transitioning from an age of people driving cars to an age of self-driven or autonomous driving capability, resulting in an increase in the number of electronic parts used in cars, which further increases the demand for the inductor. High-frequency power inductors for automotive applications are specifically designed for reliability to reduce failure risks.

Increasing the production of automotive vehicles in various parts of the world is also expected to boost the demand for inductors in the coming years. For instance, Data from the Ministry of Industry and Information Technology indicates that in 2021, sales of over 26 million vehicles—including 21.48 million passenger vehicles—rose by 7.1% over 2020 levels.

• High demand from the consumer electronics sector

Inductors are used in motherboards, laptops, industrial computers, and personal computers, among other computing vertical applications. These inductors are used in the circuitry of different computers' power supplies. In computer switch-mode power supplies (SMPS), inductors serve as energy storage components. The inductor's charging time determines the output voltage ratio in these power supply types. The increase in consumer electronics sales can be further attributed to the rising standards of living. The increasing ubiquity of technology and the internet, particularly in developing nations, has increased consumer demand for cutting-edge digital gadgets.

• The aerospace industry is growing at a substantial rate over the forecast period

Automation has come to take on a critical role in several industries. The aerospace industry is one such sector that is increasingly using automated devices to address several tasks, such as aircraft maintenance procedures, conducting experiments in outer space, surveillance, intelligence gathering, and terrain mapping in defence. These technologically advanced devices use sensors, filters, motors, and transformers that rely highly on inductors. Increasing demand for high-performance interfaces, increased security, and heavy processing requirements are boosting the automated products demands, and with the emerging industrial internet of things (IIoT) in this sector, aerospace manufacturers are steadily upgrading their factories, resulting in propelling the market growth opportunities for inductors and manufactures in the coming years.

Major challenges hindering the growth of the inductor market:

• Strict safety regulations

Significant barriers to the global inductor market growth include fluctuating raw material prices, inflation, and rising interest rates that impact consumer spending, miniaturization-related design complexity, maintaining DC resistance level, dimensional tolerance, and reliability. The availability of product substitutes, strict safety regulations, and other factors all contribute to the hindrance of market growth. 

What are the key geographical trends shaping the inductor market?

• Asia Pacific is projected to grow at a high rate during the forecast period 

Geographically, Asia Pacific will witness substantial market growth opportunities owing to the booming automotive and consumer electronics industries in countries like China and India. This regional market growth is majorly supported by the presence of major market players who are investing heavily in expansion facilities.

Simultaneously, the various government policies for investment in the development of consumer electronics and other industries will also significantly impact the semiconductor components market in this region, which will further boost the demand for inductors during the forecast period. For instance, the government of India reduced corporate tax rates, aiming to attract foreign investment and boost its manufacturing sector.

Recent developments in the inductor market:

• In January 2024, the new inductor KLZ2012-A series (2.0 mm (L) x 1.25 mm (W) x 1.25 mm (H)) from TDK Corporation (TSE: 6762) was announced. These multilayer inductors have an extended operating range and excellent inductance tolerance and are made for automotive audio bus (A2B) applications.
• In April 2022, to manage the power of ADAS/AD systems, TDK Corporation unveiled a new sample kit that includes remarkably compact and robust CLT32 power inductors. The sample kit (part number B82403X1) contains nine different inductors with inductance values ranging from 17 nH to 440 nH. Their design supports saturation currents from 13.5 A to 60 A in. The ferromagnetic plastic compound is over-molded onto a solid copper coil in these AEC-Q200-certified components. Reliability is greatly increased by the coil ends' dual role as terminals, particularly in automotive applications. These products can achieve a very low RDC value, which minimizes losses, because of the solid copper coil. At an inductance value of 17 nH, the ohmic resistance is just 0.39 m?.
• In March 2023, Abracon, LLC (Abracon) Innovation for Tomorrow's Designs announced the launch of its Interactive Inductor Catalog, which includes over 200 series. Abracon offers chip inductors that are smaller than others, with wire-wound inductors that are larger in size. They can be used in several applications, from high-speed data transfers to wireless communications and power management, among others. Each inductor has specific specifications, such as inductance DC.
• In September 2022, Vishay Intertechnology, Inc. released three additional inductors with low height and high-power capabilities of part numbers 0803, 0805, and 0806 sizes in the thin case series. These devices (*Vishay Dale IHHP-0603ZH-01*, *IHHP-0805ZH-01*, and *IHHP-0806ZH-01*) are suitable for use in Internet of Things (IoT) gadgets as well as mobile electronics as they have a very thin 0.8 mm maximum dimension, highly efficient DCRs and low core losses. Any company that manufactures low-voltage modules will definitely make use of these new products. 

Inductor Market is analyzed into the following segments:

• By Type
  • Air Core Inductor
  • Ferrite Core Inductor
  • Others
• By End-User Industry
  • Automotive
  • Industrial
  • Telecommunication
  • Defense
  • Consumer Electronics
  • Others
• By Application
  • Radio and High Frequency Applications
  • Power Supplies
  • DC-DC Convertors
  • Mobile Communication Systems
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Indonesia
    • Others