Inductors Market - Size, Share and Forecast (2019-2025)
Added: (Tue Mar 19 2019)
Pressbox (Press Release) -
Inductors market, by type, includes fixed inductor and variable inductor; by core type includes air core, ferromagnetic/ferrite core, laminated core, and others; by frequency includes up to 100KHz, 100KHz to 1MHz, more than 1MHz; by application includes consumer electronics, power industry, automotive and others for global industry insights, and forecast to 2026.
The inductor is a device that stores energy in the form of a magnetic field, and it generally consists of a wire loop or coil around a core. When current is passed through the coil, it generates an electromagnetic field. The inductance of the inductor is mainly dependent on the number of turns in the loop and the type of core material.
There is an increased demand for high-performance inductors in smartphones which is boosting the global inductors market. Inductors are widely used in smartphones for applications ranging from wireless LAN’s, Bluetooth connectivity, signal processing, communication systems, high-frequency applications, and others. According to the International Data Corporation (IDC), the global sales value of smartphones in 2017 was USD 478.7 billion. The total number of smartphones sold in 2010 was 296 million units, and the figure surged to 1495 million units in 2016 reaching 1536 million units in 2017. Thus, the growing demand for high-performance inductors in smartphones is a significant factor propelling the growth of the Inductors market.
The global inductor Market is valued at USD 2,054.94 million in 2018 and is expected to grow at a CAGR of 4.18% over the forecast period to reach a USD 2,840.84 million by 2026.
Market Dynamics
Rising integration of inductors in automotive electronic components coupled with technological advancements in the inductor usage based on application
Inductors are used in engine control of automobiles which plays a significant role in reducing the overall emissions of the vehicle. This will serve as a significant opportunity for inductor manufacturers to develop new products which will help reduce the global carbon footprint and also improve its market competitiveness. For instance, on June 4, 2018, Vishay Intertechnology, Inc. introduced a new high current planar choke inductor that offers the same performance as wirewound devices in a fraction of the space.
The increasing demand for inductors has driven major companies and R&D organizations to develop technologically advanced products to meet the growing demand capabilities, improve their product portfolio and contribute to boosting their market competitiveness.
For instance, in February 2019, Coilcraft Inc. announced the launch of new XEL60xx Series power inductors with exceptionally low DCR and ultra-low AC losses, resulting in the high efficiency across a range of frequencies (2–5+ MHz).
Similarly, in July 2018, Pulse Electronics released a new series of high current, low profile SMT inductors. Designed with the highest energy storage density of an inductor on the market, the inductors have high Current>40Apk) and low Profile (2.1–5.0mm) features. They offer soft saturation, with no thermal aging and fit industry standard footprints.
Market Demand for Consumer Electronics:
The Consumer Electronics segment of Inductor market was valued at USD 769.13 Mn in 2018 and is estimated to grow at a CAGR of 3.87% over the forecast period to reach a USD 1,038.04 Mn by 2026. Consumer Electronics segment of Inductor market occupied 37.43% of market share in 2018.
It is owing to the growing dependency of humans on mobile phones, and other electronic devices have increased the market of chip and power conductors. Around 62.9% of the population had mobile phones in 2016. Inductors are small and lightweight and make the device compact. Compact devices are in high demand. On September 25, 2017, Murata Manufacturing Co., Ltd. introduced the LQW15DN series inductor for communication devices such as smartphones, which is the world's smallest inductor in 0402 sizes (1.0 x 0.5mm) at a large inductance of 15µH.
Additionally, inductors are used in tuning circuits of television and radio. With the help of inductors, the tuning circuit can select the desired frequency. Inductors can also store energy for a small period, thus used in computer circuits where power supplies can be switched.
Inductors and its restraints:
Owing to the factors like the fluctuating prices of raw materials is a critical factor hindering the growth of the global inductors market. Copper is one of the important constituent raw material of an inductor the price of copper per pound increased from USD 2.13 in 2015 to USD 2.5 in 2016 and kept growing till USD 3.3 in 2017 and plummeted to USD 2.65 in 2018.
Recent Product launches and critical developments:
Significant players in global inductors market are Murata Manufacturing Co., Ltd., Eaton Corporation Plc., Samsung Electro-Mechanics, TDK Corporation, Agile Magnetics, Inc., Panasonic Corporation, Delta Electronics, Inc., AVX Corporation, Pulse Electronics, Coilcraft Inc. and others. The diversified product portfolio is the primary factor that is responsible for strengthening the position of these companies in the market. Also, they have been adopting key strategies, such as new product developments, acquisitions, and expansions, to increase their share in the inductors market.
For instance, in February 2019, TDK Corporation announces the TFM252012ALVA thin-film metal power inductors that can be connected directly to a 12 V car battery while maintaining small dimensions with a footprint of just 2.5 mm × 2.0 mm and a height of 1.2 mm.
In November 2018, Murata Manufacturing Co., Ltd. developed a new lineup of power inductors with Electro-static discharge withstand voltage characteristics that are the highest level in the industry for use in automotive power supplies.
In October 2018, Standex Electronics Inc. acquires Agile Magnetics Inc. for USD 39 million.
In March 2018, Panasonic launched new highly reliable power inductors for automotive and other strenuous applications requiring high heat (up to +150°C including self-heating) and vibration resistance (up to 30G). The components are ideal to be designed into high frequency switching systems over 2MHz owing to benefits of a shielded construction, low profile (only 3mm maximum height), first inductance and temperature stability over a broad temperature range, as well as low audible (buzz) noise.
In February 2018, TDK acquired Chirp Microsystems. Chirp is engaged in high-performance ultrasonic sensors featuring smaller sizes and lower power consumption compared with existing sensors.
In January 2018, AVX Corporation signed a definitive agreement to acquire Ethertronics Inc., which is a manufacturer of passive and active antenna systems. The addition of Ethertronics offered an opportunity for AVX to expand its extensive electronic product offering into a new arena.