Transparency Market Research delivers key insights on the global power inductor market. In terms of revenue, the global market is projected to expand at a CAGR of ~4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global power inductor market.
A power inductor is used to store an electrical energy in the form of magnetic energy. It is a passive element with two terminals and commonly known as coil or a reactor. The initial purpose of a power inductor is to maintain stability in a circuit that has a varying voltage or current so that the core losses can be reduced from applications in which voltage conversion is necessary.
Power inductors are broadly categorized on the basis of multiple factors, including tolerance, packaging, DC resistance, case size or dimension, nominal inductance, maximum rated current, and shielding type. Furthermore, choosing an appropriate power inductor for specific applications is crucial due to availability of numerous power inductor types in the market. Industries choose the best suited power inductor based on technical characteristics such as high power, high current, power supply, and surface mount power (SMD). Power inductors are largely used in DC/DC converters or EMI current filter applications such as adjustable lighting, motor speed control, and DC power conditioning, among others, owing to energy storing capability.
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The global power inductor market has been broadly segmented by core, material, mounting, type, and application. Based on core, the market has been bifurcated into shielded and non-shielded. Based on material, the market has been segmented into under air core, ferromagnetic/ferrite core, iron core, metal alloy (small size [below 40x40mm]), and others. In terms of mounting, the market has been divided into surface mount technology and through hole technology. In terms of type, the market has been segregated into wire-wound, multilayer, and third-film power supply.
In terms of application, the market has been classified into consumer electronics (mobile & smartphones, laptops, tablets, notebooks, computers, televisions, and others), automotive (automotive charging system, wireless power transfer, DC-DC converters, vehicle lighting, power steering, brakes, in-vehicle infotainment, and others), industrial, healthcare, and others. In terms of core, the shielded segment holds significant market share and is anticipated to expand at a rapid pace during the forecast period. This can be primarily attributed to significant use of shielded core power inductors in consumer electronics and automotive industry.
Power Inductor Market: Dynamics
The automotive industry is growing continuously due to technological developments such as manufacturing of electric vehicles with ADAS systems in it. The production of automated cars and focus on production of electrical vehicles is increased, owing to such advancements. Furthermore, the automotive sector is driven by factors such as rising spending on R&D of the automotive technology and increasing competition among players to increase their market share. The demand for electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) is increasing in high growth regions such as Europe, due to increasing popularity of electric vehicles in the light of government subsidies and environmental sensitivity. The EV industry in the EMEA region is led by countries such as Germany, Norway, Dubai, and GCC countries.
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Furthermore, the advanced design of power inductors such as wire-wound, multilayer, and thin-film can help in reducing the device power supply circuit size due to their small size. Power inductors are used in several vehicle parts, including head lamps, air bag systems, car communication modules, electric power steering, and keyless entry systems. Power inductors certified for AEC-Q200 standard are typically suitable for the automotive industry. The growing automotive industry across high growth regions and the rising penetration of EV and PHEV vehicles are projected to have a significant positive impact on the global power inductor market during the forecast period.
