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.
The electronic control unit performs multiple key operations ranging from enhancing vehicle performance and fuel efficiency to increasing vehicle safety. The miniaturization of the ECU is required to support advanced vehicles, especially EVs and PHEVs so as to accommodate a large number of ECUs in less space. The smaller size of the ECU implies that electronic components, such as power inductors, used in the ECU must also be reduced in size. Power inductors offer improved electric characteristics and enhance the operational reliability of the device in which power inductors are incorporated.
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.
Multiple manufacturers are engaged in the development of innovative power inductors using thin-film material that allows for compact and high precision performance, more stability, and heat resistance. For instance, TDK Corporation launched a new power inductor with thin-film produced for mobile device design. The novel product can handle higher current and lower resistance as compared to traditional power inductor products. Thus, the development of novel products by incorporating advanced technology in power inductors for consumer electronics sectors across the globe is expected to boost the global power inductor market during the forecast period.
Power Inductor Market: Prominent Regions
According to regional analysis, Asia Pacific is the dominant region of the global power inductor market. The growth of the market in the region can be attributed to significant manufacturing ability of players operating in the Asia Pacific market to produce power inductors for consumer electronics and automotive applications. China has proved to be the most diversified and dynamic market. A majority of power inductors made of metal alloy are used in the automotive sector for infotainment systems and parking assistance camera applications; this is anticipated to drive the power inductor market in Asia Pacific over the next few years.
China held a major share of the Asia Pacific power inductor market, in terms of revenue, followed by Japan in 2019. However, in terms of revenue, the market in India is anticipated to expand at a substantial CAGR during the forecast period. North America is focusing on the adoption of power inductors in order to strengthen its consumer electronics and automotive sectors. The U.S. is home to several well-established players that design and offer power inductors. Thus, rising demand for power inductors in consumer electronics and automotive sectors is anticipated to boost the power inductor market in North America during the forecast period. The market in Europe is estimated to witness prominent growth during the forecast period. The power inductor market in Middle East & Africa and South America is projected to witness moderate growth in the near future.
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Power Inductor Market: Key Players
Key players operating in the global power inductor market are AVX Corporation, Bourns, Inc., Coilmaster Electronics Co., Ltd., Coilcraft Inc., Cyntec Co., Ltd., ETAL Group, Murata Manufacturing Co., Ltd, Panasonic Corporation, Pulse Electronics (Yageo Company), Samsung Electro-Mechanics Co., Ltd., Shenzhen Codaca Electronic Co. Ltd., SUMIDA CORPORATION, Sunlord, Taiyo Yuden Co., Ltd, TDK Corporation, Vishay Intertechnology, Inc., and West Coast Magnetics.
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