Inductor Market Size, Share, CAGR, Demand & Forecast

The 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.

Consumer electronics is a rapidly changing and dynamic industry, wherein the competition among the market players and game-changing technological developments are increasing significantly. These innovations and technological developments are assisting the manufacturers of consumer electronic devices in enhancing the features and the quality of their products.

Major inductor companies in the market include Murata Manufacturing (Japan), TDK (Japan), Vishay Intertechnology (US), TAIYO YUDEN (Japan), Chilisin Electronics (Taiwan), Delta Electronics  (Taiwan), Panasonic (Japan), ABC Taiwan Electronics (Taiwan), Pulse Electronics (US), Coilcraft (US), Shenzhen Sunlord Electronics (China), Bourns (US). Apart from these, Sumida (Japan), ICE Components (US).

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Inductor market share for power applications is expected to grow at the highest CAGR during the forecast period

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.

Inductor market for surface-mount inductors is expected to grow at a higher CAGR during forecast period

Surface-mount power inductors are mainly used for power supplies to power converters. These types of inductors are available only in smaller sizes and in a variety of shapes such as pot cores (round), RM (square pot cores), and a few others including custom shapes. Their applications include fluctuating power circuits to filter EMI currents at low inductance loss, DC-to-DC and AC-DC converters, storing energy, and switching regulated power supplies.

Inductor market analysis in Asia Pacific estimated to grow at the fastest rate during the forecast period

Asia Pacific plays a pivotal role in the development of the electrical and electronics industry. A few of the leading inductor manufacturing companies such as TDK (Japan), Murata Manufacturing (Japan), Taiyo Yuden (Japan), Chilisin Electronics (Taiwan), Delta Electronics (Taiwan), Panasonic (Japan), ABC Taiwan Electronics (Taiwan), Shenzhen Sunlord Electronics (China), and Sumida (Japan) are based in Asia Pacific. Several electronic manufacturing companies in other regions outsource their production to low-cost countries in Asia. This is more distinct in segments with higher demand for labor-intensive tasks such as passive electronic components and semiconductor assembly and testing operations. As Asia Pacific has low labor cost most of the inductors are manufactured in Asia Pacific 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. The significant growth toward manufacturing and the potential of China, Japan, and India largely contribute to this growth trend.