Manufacturers Continue Commerce During COVID-19 Crisis with Innovations in Compact Power Inductors
Amidst the ongoing COVID-19 crisis, established market players such as Samsung Electro-Mechanics have developed one-of-its-kind claimed smallest power inductors. Manufacturers in the power inductor market are taking strategic cues from established market players to capitalize on business opportunities. As such, there is a growing demand for compact power inductors. Since electronic devices are diversifying in terms of functionalities, manufacturers in the power inductor market are improving the performance of components.
Improvements in the performance and volume of compact power inductors are highly preferred by electronics manufacturers. Manufacturers are applying their material technology and semiconductor substrate manufacturing solutions in the use for reducing the size of power inductors. However, a demand crisis during the COVID-19 pandemic is likely to hurt sales of electronic goods.
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Next-gen Automotive Power Inductors Prevent Self-heating and Improve Vehicle Performance
The ever-increasing automotive industry is creating business opportunities for manufacturers in the power inductor market. Companies are re-engineering power inductors, as extreme pressure on DC/DC convertors need to be evened out over a wide temperature range. Manufacturers in the power inductor market are innovating in next-gen components that deliver high reliability and energy efficiency in vehicles. Space constraints in automotive applications have fueled the demand for compact power inductors. Thus, size minimization is a recurring trend in the power inductor market.
Apart from offering improved saturation characteristics and stability in automotive power inductors, manufacturers are increasing their research efforts to offer low DC resistance in inductors. This helps to prevent self-heating and minimizes energy losses.
Solid-core Inductors Versus Air Core Inductors: Which is better?
Air core inductors are being highly publicized for minimal signal loss in higher magnetic field strengths. However, air core inductors are associated with the need for increased number of turns in a coil necessary to achieve the same inductance that would occur in a solid-core inductor.
The power inductor market is anticipated to progress at a modest CAGR of ~4% during the forecast period. Electronics manufacturers are striving to gain better understanding of solid-core inductors that have low electrical conductivity of air, which translates into low magnetic permeability and lower inductance compared to air core inductors. Both these inductors are balancing out business for manufacturers in the power inductor market, since air core inductors are preferred in radio transmitters.
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Power Inductor Market: Overview
- According to Transparency Market Research’s latest research report on the global power inductor market for the historical period 2018–2019 and the forecast period 2024–2030, the development of new technologies in smartphones, laptops, televisions, automotive charging systems, and power steering are expected to boost the global power inductor market during the forecast period. Rise in demand for metal alloy power inductors in infotainment systems for use in automotive applications is projected to drive the power inductor market.
- In terms of revenue, the global power inductor market is expected to reach a value of US$ 2.9 Bn by 2030, expanding at a CAGR of ~4% during the forecast period
Growing Adoption of Consumer Electronics Devices: A Key Driver
- Use of consumer electronic devices has largely increased over the past few years, owing to advancements in technology
- Consumer electronic devices include laptops, tablets, notebooks, smartphones, servers, GPS products, set-top boxes, and portable gaming devices. These are extensively used worldwide by all age groups. Continuously increasing adoption of such devices is likely to propel the growth of the power inductor market. Generally, 10-15 power inductors are used in smartphones. The increase in sale of smartphones directly drives the power inductor market.
- Various developments and remarkable evolutions in consumer electronics such as advanced smartphones with 4G and upcoming 5G technology have attracted attention of customers toward technologically innovative products and encouraged them to spend on purchasing these products
- Furthermore, rising living standards have further contributed to the increase in sales of consumer electronic devices. In high growth regions, the rising penetration of emerging Internet technology such as 5G has largely spurred users interest toward the adoption of advanced digital devices.
- Adoption of smartphones has been increasing across high growth regions over the past few years as a result of rising investment in the 5G technology by network operators in all developing regions. According to the GSM Association, a trade body of mobile network operators, the 5G technology is projected to account for 1.2 billion connections by 2025, which is likely to cover one-third of the world’s population.
- According to Gartner, 2,221,270 million units of consumer devices were shipped in year 2018
- Moreover, functionalities in smartphones are constantly growing from touchscreen and fingerprint verification to monitoring and controlling home security systems or manufacturing plants. Premium smartphones use about 10-15 power inductors. The increasing usage of power inductors in these products as well as rising consumer electronic products with better digitalization are driving the power inductor market.