Impact of COVID-19 on Economy, Industry and Company :
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The Power Inductor Market is anticipated to US$ 2.98 Bn by 2028, Likely to Grow with a CAGR of XX % during the Forecast Period.
The objective of the power inductor is to decrease core loss in an application that needs voltage conversion. This electronic component can also be used in a magnetic field made by a strongly wound coil to collect or store energy, decrease signal loss in system design and EMI filter noise. Increasing demand for consumer electronics devices across the world, such as tablets, smartphones, laptops, gaming console, setup boxes, and others, is the leading factor driving the demand for various inductors. Power inductor market is also witnessing rapid growth in an application, that require high reliability, especially in aerospace, industrial, defense, and medical sector.
Inductors are used for power supply in various complex circuits, to manage the present, and also, as a filter within the circuits to chop off undesirable frequencies. The rising standards of living have further contributed to the rise within the sales of consumer electronics. The growing penetration of technology and therefore the internet, throughout the developing regions, primarily, has surged consumer interest toward the adoption of advanced digital devices.
Besides, the automotive sector is additionally offering growth opportunities to inductor manufacturers, due to the increasing use of electronic components in automobiles. The current trend is increasing the sturdiness of industry-standard interfaces utilized in industrial applications. Customization, particularly within the medical, aerospace & defense, and industrial sectors is another leading trend.
Wire wound Segment Dominates the Global power inductor Market.
A wide wound is mainly utilized in the high-frequency circuits of mobile communication systems, like wireless LAN, mobile phones, broadband components, RFID tags, RF transceivers, and Bluetooth, Wireless PDA, and security systems. Wire-wound inductors are larger in size and their performance is twice that of multilayered inductors of equivalent size. Wire-wound inductors have the most important market share because the manufacturing cost involved is a smaller amount compared with other sorts of inductors and that they provide a high inductance value.
Based on Application, Cell Phone Segment is expected to Exhibit Fastest Growth Rate during the Forecast Period
New technologies are being introduced in automobiles to scale back emissions and have a less environmental impact. Inductors, utilized in automotive applications, need to operate under harsh environmental conditions. They will be utilized in various applications like engine and transmission control units, LED drivers, HID lighting, and noise suppression for motors. Advancements in the automotive industry like passenger comfort and safety, also as environmental considerations, require expanding electronics to accommodate the decreasing available space.
The Power Inductor Market in Europe occupied a Significant Market Share in 2019.
By geography, the power inductor market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The growth of the power inductor market in APAC is driven mainly by the expansion of the buyer electronics market in the region. APAC is witnessing dynamic changes in terms of the adoption of latest technologies across various industries. As APAC has low labor costs, most of the inductors are manufactured in APAC and are exported to varied regions. The expansion of smartphones within the region has been exponential, and therefore the number of smartphone users within the countries has been growing rapidly within the past few years. This trend is further expected to extend, due to low penetration in developing countries of the region. Mobile broadband connections are expected to extend to about 72% within the Asia-Pacific region.
Providers in the power inductor market are also expanding by forming strategic alliances with peers in order to establish themselves as distinguished players in the global power inductor market. Key industry players such as TDK Corporation, Murata Manufacturing Co., Pulse Electronics Corporation, AVX Corporation, Samsung Electro-Mechanics Co., Ltd., SUMIDA CORPORATION, Bourns, Inc., ETAL Group, Vishay Intertechnology, Inc., West Coast Magnetics Corporation, among others.
- Thin-film Power Supply
- Surface Mount Technology
- Through Hole Technology
By End User
- Consumer Electronics
- North America
- Asia- Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America