Inductor Market Size, Share, Industry Trends, Companies, Growth Analysis 2027

Inductors are typically made up of copper, iron, and ferrite due to their features such as high electrical connectivity and low power losses. The reason for using copper coils is that copper has relatively good thermal and mechanical properties.

The use of power inductors is more in consumer electronics as they provide large currents and low DCR characteristics and are small in size. Other types of inductors such as RF inductors, air-core inductors, and multilayered inductors are also widely used in the consumer electronics vertical.

Inductor market size is projected to reach USD 7.0 billion by 2027 from an estimated USD 5.1 billion in 2022, at a compound annual growth rate (CAGR) of 6.6 % from 2022 to 2027.

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There is a sharp growth in the production of electric vehicles in recent years and is expected to grow further in the coming years and the pace of development of electric vehicles has been tremendous. The use of electric vehicles has spread, and this will lead to the adoption of connected cars and advanced driving assistance systems (ADAS), which will expand the role of electronic components.

The size of the products is becoming increasingly smaller as well as the functionalities associated with the products are being enhanced. There is a continuos shrink in the size of mobile devices that offer advanced complex functions. The market for such devices which include smartwatches, wristband-type wearable devices, and IoT devices such as sensor network devices need reduced size as well as thickness. These devices also need highly efficient power supply circuits for longer operating time.

Power applications segment is expected to exhibit the highest growth during the forecast period. Inductors are widely used as energy storage devices in many switched-mode power supplies to produce DC currents. Most of the power inductors are used as filters to reduce the amount of ripple in electronic circuits. Thus, the market for power applications is expected to grow at the highest CAGR during the forecast period.