Inductors Market Size - By Type of Inductor, Material, Mounting Type, Size/Form Factor, Application, End-use Industry Analysis, Share, Growth Forecast, 2024 - 2032

Inductors Market Size

The global inductors market was valued at USD 6 Bn in 2023 and is estimated to grow at a CAGR of 6.9% from 2024 to 2032. Several key factors are driving significant growth in the market. Surging demand for consumer electronics is a primary catalyst.
 

 As consumers increasingly embrace advanced devices like smartphones, tablets, and wearables, the need for high-performance inductors becomes paramount. These components are crucial for power management and signal filtering, ensuring electronic devices function optimally and reliably. Moreover, the trend toward miniaturization amplifies this demand. Manufacturers now seek smaller inductors that deliver top-notch performance without occupying excessive space, spurring innovations in inductor design and technology.
 

Further, the growing electric vehicle (EV) sector is a major propellant for the inductor market. With a heightened focus on sustainability and environmental conservation, the EV industry is witnessing rapid growth, fueled by government initiatives and shifting consumer preferences. Inductors play a pivotal role in EVs, being integral to power conversion systems and battery management, where they adeptly manage high currents and minimize electromagnetic interference. As the EV market expands, so does the demand for reliable and efficient inductors, setting the stage for sustained growth in the inductor market.
 

For instance, in February 2024, TDK Corporation introduced its MHQ1005075HA series of inductors tailored for high-frequency automotive circuits. These inductors boast an advanced fail-safe design and meet AEC-Q200 standards. Measuring 1.0 × 0.5 × 0.7 mm and offering inductance values ranging from 1.0 to 56 nH. This launch is a strategic move, responding to the surging demand in consumer electronics and the expanding electric vehicle (EV) market, all while bolstering the reliability of automotive circuits.
 

Inductors Market Trends

The market is undergoing swift transformations, driven by trends like the rising demand for tailored solutions from B2B clients and the integration of advanced materials to boost performance. The emergence of technologies such as integrated circuits and high-frequency applications is compelling manufacturers to innovate relentlessly. Furthermore, with an increasing emphasis on sustainability, companies are not only adopting eco-friendly production methods but are also designing inductors that align with global energy efficiency standards. These converging trends cultivate a competitive environment that emphasizes performance, customization, and sustainability, propelling the market's growth.
 

The market faces challenges, including fluctuating raw material costs and complex manufacturing processes, which can hinder production efficiency and profitability. Such challenges may disrupt supply chains and elevate operational costs, complicating efforts for manufacturers to offer competitive pricing. Moreover, the swift evolution of technology demands ongoing investments in research and development, stretching resources for certain companies.
 

Although, the market presents substantial opportunities, especially fueled by the rising electric vehicle and renewable energy sectors. For instance, TDK Corporation recently launched a new series of high-performance inductors designed for automotive applications, highlighting the growing demand in this sector. Regulations favoring energy efficiency and sustainability further spur innovation, urging companies to craft advanced inductor solutions that meet environmental benchmarks. This regulatory environment not only bolsters market expansion but also uplifts the stature of firms dedicated to sustainable initiatives.
 

Inductors Market Analysis

Based on type of inductor, the market is divided into air core inductors, ferrite core inductors, iron core inductors, toroidal core inductors, multilayer inductors, and variable inductors. The multilayer inductors segment is expected to reach a value of USD 3.2 billion by 2032.
 

Air core inductors utilize air as the magnetic core material, which significantly reduces core losses and allows for high-frequency applications. They are particularly beneficial in RF circuits where minimal distortion and excellent linearity are essential. Due to their simple construction, air core inductors are lightweight and have low electromagnetic interference, making them suitable for applications such as radio transmitters and receivers. Their efficiency in high-frequency performance, combined with the absence of saturation effects associated with magnetic materials, air core inductors as a preferred choice in various wireless communication devices.
 

Multilayer inductors consist of multiple layers of winding, allowing for high inductance values in a compact form factor. This design is particularly advantageous for modern electronic devices that require space-efficient components, such as smartphones and wearables. Their ability to provide excellent performance in terms of current handling and low resistance makes multilayer inductors ideal for high-frequency applications, including power management and filtering. As the trend towards miniaturization in electronics continues, the demand for multilayer inductors is expected to grow, positioning them as a key segment in the inductor market.
 

Based on applications, the inductors market is divided into power inductors, RF inductors, coupled inductors, multilayer inductors, and other specialized inductors. The RF inductors segment is the fastest growing segment with a CAGR of 8.6% between 2024 and 2032.
 

Power inductors are essential components in power management systems, playing a critical role in converting and regulating voltage levels in various electronic devices. These inductors are designed to handle high current and energy levels, making them ideal for applications in power supplies, DC-DC converters, and energy storage systems. The growing demand for efficient energy solutions, especially in electric vehicles and renewable energy technologies, is driving innovations in power inductor design, leading to enhanced performance, miniaturization, and improved thermal management.
 

RF inductors are crucial for radio frequency applications, including communication systems and wireless devices. They are designed to operate effectively at high frequencies, providing impedance matching, filtering, and tuning functions. The increasing prevalence of 5G technology and the Internet of Things (IoT) is significantly boosting the demand for RF inductors, necessitating advancements in materials and designs that enhance their efficiency and reliability. As wireless communication continues to evolve, RF inductors are becoming integral to supporting high-speed data transmission and minimizing signal distortion.
 

U.S. is expected to account for the largest share of 76.2% of the inductors market in North America. The high growth of this market is attributed to a strong demand for advanced electronic components, driven by the robust consumer electronics sector and significant investments in electric vehicle technology. The country's emphasis on innovation fosters a competitive environment for inductor manufacturers, encouraging continuous research and development to enhance product performance and efficiency.
 

India inductors market is experiencing rapid growth, fueled by the country's booming electronics industry and increasing adoption of consumer electronics. Government initiatives aimed at boosting domestic manufacturing, such as the "Make in India" program, are driving investments in the production of electronic components, including inductors. The rising demand for electric vehicles and renewable energy solutions is also contributing to market expansion, as inductors play a vital role in power management and energy conversion systems.
 

China inductors market is the largest globally, supported by its status as a manufacturing powerhouse for electronic components. The country's extensive production capabilities and focus on technological innovation have led to significant advancements in inductor design and performance. The rapid expansion of consumer electronics and the electric vehicle market in China is creating substantial demand for inductors, particularly in power management and signal filtering applications.
 

South Korea inductors market is characterized by a strong emphasis on innovation and advanced technology, particularly in the electronics and semiconductor sectors. The country's major corporations, such as Samsung and LG, are significant consumers of inductors, utilizing them in a wide range of electronic products, including smartphones and home appliances. With the growing focus on electric vehicles and smart technologies, the demand for high-performance inductors is expected to rise, particularly in automotive applications.
 

Japan inductors market is marked by a rich history of technological innovation and high-quality manufacturing standards. The country's advanced automotive industry, coupled with a strong consumer electronics sector, drives significant demand for inductors in various applications, from power management to signal processing. Japanese manufacturers are renowned for their precision engineering, leading to the development of compact and efficient inductors that meet the growing needs of modern electronics.
 

Inductors Market Share

Competition in the inductors market hinges on several pivotal factors such as price, product quality, and differentiation. Manufacturers are working diligently to provide competitively priced inductors, ensuring performance and reliability remain uncompromised, given the paramount importance of cost-effectiveness for B2B consumers. Furthermore, companies are placing a heightened emphasis on product differentiation through innovation, crafting specialized inductors for niche applications like automotive and telecommunications.
 

Distribution channels are equally crucial, with industry players vying for an edge in efficient logistics and timely deliveries, catering to the demands of a rapidly changing market. Collectively, these elements shape a vibrant competitive landscape, compelling companies to perpetually innovate and adapt to uphold their market standing.
 

Inductors Market Companies

Major players operating in the inductors industry are:

• Murata Manufacturing Co., Ltd.
• TDK Corporation
• Taiyo Yuden Co., Ltd.
• Vishay Intertechnology, Inc.
• Coilcraft, Inc.
• Laird Performance Materials
• Sumida Corporation
• KYOCERA AVX Components Corporation.
• KEMET Corporation
• Bourns, Inc.
• Chilisin Electronics Corp.
• Delta Electronics, Inc.
• Samsung Electro-Mechanics
• Würth Elektronik GmbH & Co. KG
• Panasonic Corporation
   

Inductors Industry News

• In January 2024, TDK Corporation launched the KLZ2012-A series of multilayer inductors designed for automotive A2B applications, supporting temperatures up to 150 °C. These inductors feature high durability against mechanical stress and thermal shocks due to a conductive resin external electrode.
   
• In February 2024, Bourns, Inc. launched the SRR5228A and SRR5828A Series Shielded Power Inductors, designed for automotive applications. These AEC-Q200 compliant inductors feature a ferrite core and shield, minimizing magnetic field radiation. With inductance up to 1000 μH and heating current of 5.2 A, they operate within -40 °C to +150 °C. The inductors are available now, RoHS compliant and halogen-free.
   
• In June 2024, Sumida launched new power inductors specifically designed for on-board chargers. These inductors offer enhanced efficiency and performance, catering to the growing demand for electric vehicles and their charging infrastructure. The innovative design supports faster charging capabilities while ensuring reliability and thermal management in automotive applications.
   

The inductors market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion & Thousand Units) from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Type of Inductor

• Air core inductors
• Ferrite core inductors
• Iron core inductors
• Toroidal core inductors
• Multilayer inductors
• Variable inductors

Market, By Material

• Ferrite
• Iron
• Powdered iron
• Ceramic
• Air
• Laminated steel
• Others

Market, By Mounting Type

• Surface mount inductors (SMD)
• Through-hole inductors
• Chassis mount inductors

Market, By Size/Form Factor

• Miniature
• Standard
• Large

Market, By Application

• Power inductors
• RF inductors
• Coupled inductors
• Multilayer inductors
• Other specialized inductors

Market, By End-use Industry

• Consumer electronics
• Automotive
• Industrial
• Telecommunications
• Aerospace and defense
• Healthcare
• Energy and power
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa