An inductor, also known as a coil or choke, is a passive two-terminal electrical component that stores electric energy in a magnetic field when electric current flows through. Inductors are connected to the circuit to elevate the inductance to an optimal value; the inductance is dependent on the count of turns/loops of the inductor surrounding the metal or air. Electric current flowing through a conductor generates a magnetic field surrounding it.Inductors are most widely employed for power management. The growth in the industry is fueled by the increasing application of inductors in power management solutions across various industries. Consumer electronics is the major market for inductors with the increasing use of smartphones and smart electronics, followed by the automotive and power industries.
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Market Dynamics
Technical advancements in inductor usage based on application and demand for high-performance inductors in smartphones are the key drivers for market growth. Rising demand for inductors from the end-user industries is a crucial factor boosting the growth of the global inductor market. The increasing demand has driven major companies and R&D organizations to develop technologically advanced products to meet the growing demand capabilities, improve their product portfolio and contribute to the growth of their market competitiveness. The major end-users of inductors are consumer electronics such as smartphones, tablets, laptops, smartwatches, automotive applications, the power generation industry, and others. Murata Manufacturing Co., Ltd. developed a new lineup of power inductors with electro-static discharge withstand voltage characteristics that are the highest level in the industry for use in automotive power supplies.
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Segment Analysis
Based on type, the global market for inductors is broadly segmented as fixed inductor and variable inductor. The fixed Inductor market share was around 67.16% if the total market in 2018, and is expected to reach XX% by 2026. The fixed conductors available in commercial markets are primarily used for smoothening of rectified AC currents, noise suppression, and energy storage, with applications including electronic ballast, HF converters for halogen lamps, and low power Switched Mode Power Supply (SMPS). The companies are focused on the development of inductor capabilities to expand product applications. For instance, Panasonic Corporation offers fixed inductors for automotive applications owing to the high efficiency of the power circuit and downsizing for Electronic Control Unit (ECU) after the use of fixed inductors.
Competitive Landscape
A few crucial market players are Eaton Corporation Plc, Samsung Electro-Mechanics, TDK Corporation, Agile Magnetics, Inc., Panasonic Corporation, Delta Electronics, Inc., AVX Corporation, Pulse Electronics, and Coilcraft Inc.
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