Inductors Market Size

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.

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 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.