Global Inductor Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
An inductor, also known as a choke or reactor, stores energy in a magnetic field when an electrical current flows through it. It is a passive two-terminal electrical component that consists of a coil of wire wrapped around a core. It is primarily used in power electronic circuits for energy storage.

Sizing and Forecast
The inductor market size has grown strongly in recent years. It will grow from $4.33 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. . The  growth in the historic period can be attributed to growth of consumer electronics, expansion of automotive electronics, increasing adoption of renewable energy sources, growth of industrial automation and robotics, increasing focus on inductor reliability and durability.

The inductor market size is expected to see strong growth in the next few years. It will grow to $5.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. . The growth in the forecast period can be attributed to emergence of 5g technology, rise of internet of things (iot) devices, increasing demand for electric vehicles (evs), expansion of artificial intelligence (ai), growing emphasis on energy efficiency and power management solutions. Major trends in the forecast period include technological advancements, miniaturization and integration of inductors, development of high-frequency and high-power inductors, adoption of advanced materials and manufacturing techniques, shift towards vertically integrated supply chains.

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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
The rising adoption of electric vehicles is expected to boost the growth of the inductor market going forward. An electric vehicle is a vehicle that is propelled by one or more electric motors (EV). The use of electric vehicles has increased due to their capacity to preserve energy security, reduce emissions, and improve fuel efficiency. Inductors are mounted in an electric vehicle control unit (EV-ECU), which is the control unit to manage various operations in electric vehicles. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising adoption of electric vehicles is driving the growth of the inductor market.

Key Industry Players
Major companies operating in the inductor market report are TDK Corporation, Murata Manufacturing Co Ltd, Vishay Intertechnology Inc, Taiyo Yuden Co Ltd, Chilisin Electronics Corp, Delta Electronics Inc, Panasonic Corporation, ABC Taiwan Electronics Corporation, Pulse Electronics Corporation, Coilcraft Inc, Shenzhen Sunlord Electronics Co Ltd Ourns Inc, Sumida Corporation, Ice Components Inc, Bourns Inc, AVX Corporation, Gowanda Electronics, TT Electronics, Kyocera AVX, Samsung Electro-Mechanics, KEMET, Houston Transformer Company Ltd, TOKIN Corporation

The inductor market report table of contents includes:
1. Executive Summary
2. Inductor Market Characteristics
3. Inductor Market Trends And Strategies
4. Inductor Market - Macro Economic Scenario
5. Global Inductor Market Size and Growth
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31. Global Inductor Market Competitive Benchmarking
32. Global Inductor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Inductor Market
34. Inductor Market Future Outlook and Potential Analysis
35. Appendix