Power Inductors to Suffice the Need for Better Connectivity of Devices
The recent trend of energy storage is reckoned as a measure of growth for power inductor market players. From merely being used as a communication module, the essentiality of smartphones has been mounting for numerous purposes, and with automation taking over manned tasks, the penetration of mobile devices will only heighten in the future. According to the GSM Association, 5G technology is expected to account for 1.2 Bn connections by 2025, which is projected to cover one-third of the world’s population. The availability of high-speed Internet connectivity and rising investments in the development of 5G technology will further boost the sales of electronic devices.
In addition to consumer electronics, the convergence of automotive and semiconductor industries paving the way for the development of futuristic vehicles - autonomous vehicle and electric vehicles - will remain a crucial revenue pocket for the power inductor industry. However, the high demand-to-supply ratio is likely to reflect on the prices of power inductors.
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Demand for Smart-sized Devices to Secure Sales Opportunities
Given the mounting demand for power inductors ascending from the consumer electronics, healthcare, automotive, and telecommunication industries for energy storing requirements, product innovation is a key feature of the power inductor market. According to the trends analyzed by the Transparency Market Research (TMR) study, the adoption of surface mount technology is significantly higher than that of through hole technology, on account of the growing trend of miniaturization that requires the integration of power inductors directly on the surfaces of PCBs.
In 2019, surface mount technology is projected to account for ~70% of the sales of power inductors. Since manufacturers of numerous industries are hard-pressed to develop smart-sized devices with high-end features, surface mount technology remains the first choice. However, through hole technology has a hold over certain applications that require significant mechanical bonds.
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Product Innovation the New Synonym of Consolidation in the Power Inductor Market
A majority of vendors of electronic goods outsource their production to Asia Pacific, owing to the availability of skilled labors at cheap cost, which attracts high foreign direct investments in the region. Improvements in healthcare facilities in the region are creating ample opportunities for the integration of power inductors in novel medical equipment. The intensifying race among automakers to electrify vehicles by 2030 further boosts the relevancy of the region, with a large number of players concentrated in Japan, China, and India. The leading position of Asia Pacific is followed by North America, as the region is home to some of the key players that heavily invest in R&D activities and push the envelope of the power inductor market.
The power inductor market can be characterized as moderately consolidated, with ~51% of the market share held by TDK Corporation, Vishay Intertechnology, Inc., and Murata Manufacturing Co., Ltd. Given the intense competition in the automotive, consumer electronics, and industrial landscapes, stakeholders of these industries have an ever-lasting demand for power inductors. For instance, in June 2019, TDK Corporation announced the launch of a novel power inductor with thin-film for mobile devices. Another player, Murata Manufacturing Co., Ltd, in 2018, developed power inductors for the development of advanced driver assistance systems (ADAS). In a nutshell, product innovation and expansion of production capacity are synonymous to consolidation in this landscape.
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Analysts’ Implications for Market Players
Analysts envisage that the power inductor market will grow at a sluggish CAGR of ~4% during 2019-2027, with the inability to cater to the rising demand undermining the true revenue-generating potential of the landscape. For market players, it could serve as an opportunity to enter into long-term collaborations with end users, and nurture their clientele base through the custom-development of power inductors. Another opportunity for market players can arise with the expansion of their production capacities in regions with high concentration of end-use industries. Strategy of market majors operating in the power inductor landscape include distribution-based partnerships and strategic collaborations with other players that help them gain better exposure in new markets.
Power Inductors: Definition/Overview
- A power inductor is an electronic element that uses a magnetic field to receive and store electric energy. In an electric circuit, a power inductor is used to maintain current at a constant level. Power inductors are of several types, such as high-power inductors, power supply inductors, and surface mount (SMD) power inductors.
- Due to their numerous applications, power inductors are crucial components of any electronic system.
- The global power inductor market is projected to expand at a CAGR of ~4% during the forecast period, and reach a value of ~US$ 2.6 Bn by 2027.
Global Power Inductor Market: Regional Overview
- In 2018, in terms of revenue, Asia Pacific dominated the global power inductor market.
- The dominance of the region is anticipated to further increase in the near future, owing to the presence of a large number of market players and extensive research and development activities taking place in the field of power inductors in the region. Power inductors are being used in large numbers in several industries across Asia Pacific. Due to the rising use of power inductors in consumer electronics and automotive industries, the global power inductor market is expected to register a significant growth rate during the forecast period.
- The rising demand for consumer electronic devices, including smartphones, portable gaming consoles, and tablets, and increasing technological advancements in the countries of Asia Pacific, such as India, China, and South Korea, are factors driving the demand for power inductors in Asia Pacific.
- The market in North America is expected to expand at a CAGR of 4% during the forecast period. The region is likely to continue to hold the second-largest share of the global power inductor market during the forecast period.
Global Power Inductor Market: Trends
- Wide adoption of consumer electronic devices is a key trend that impacts the global power inductor market.
- Globally, the increasing demand for consumer electronic devices such as smartphones, tablets, mobile gaming consoles, laptops, and set-top boxes is the key factor driving the demand for power inductors. Advancements in smartphones and other sophisticated advancements in the consumer electronics sector have boosted consumer interest in technology, and prompted them to buy advanced consumer electronic products.
- Rising standards of living have further contributed to the increase in sales of consumer electronic devices. The growing penetration of technology and the Internet, especially in developing regions, has surged consumer interest in the adoption of advanced digital devices.
Global Power Inductor Market: Drivers, Opportunities, and Restraints
- Continuous R&D activities in the field of inductors have given rise to the weight reduction of inductors and improvements in surface mounting methods. These factors are fueling the demand for power inductors. Power inductors cause lower core losses, and hence, are important in applications where voltage conversion is required.
- In addition, the automotive sector is also offering growth opportunities to inductor manufacturers, owing to the increasing use of electronic components in automobiles. A major trend is increasing the durability of industry-standard interfaces used in industrial applications. Customization, particularly in the medical, aerospace & defense, and industrial sectors is another leading trend.
- However, manufacturers have not been able to reduce the size of power inductors. Thus, failure to create more compact products with the rising demand for and trend of miniaturization may hamper the global power inductor market.
Global Power Inductor Market: Competition Landscape
- Product innovation and development is a key strategy adopted by several leading players operating in the global power inductor market. Companies are involved in R&D activities in order to develop innovative products, which helps them gain a higher market share than their competitors.
- Key players operating in the global power inductor market and profiled in the research report are -
- TDK Corporation
- Murata Manufacturing Co.
- Pulse Electronics Corporation
- AVX Corporation
- Samsung Electro-Mechanics Co., Ltd.
- SUMIDA CORPORATION
- Bourns, Inc.
- ETAL Group
- Vishay Intertechnology, Inc.
- West Coast Magnetics
- Companies operating in the global market are focusing on expanding their businesses through strategic acquisitions and partnerships.
Power Inductor Market - Scope of the Report
[230 Pages Report] Transparency Market Research (TMR) conducted a detailed analysis to evaluate the growth trajectory of the power inductor market during the forecast period of 2019-2027. This comprehensive research report covers some crucial insights for market players that can assist them in maintaining their position and consolidate their market share.
The research report intends to offer rare and distinguished information apropos of the growth of the power inductor market, and brings to the fore the latent growth opportunities for market players. With the help of the insights found by this research, stakeholders operating in the power inductor market will gain an incisive outlook pertaining to its growth trajectory, which can help them in making sustainable strategies for their business growth.
This exclusive business study consists of an incisive outlook regarding the evolution of the power inductor market and changing dynamics during the course of the forecast period of 2019-2027. This exclusive business study provides information regarding the crucial drivers, threats, opportunities, and trends available in the power inductor market, in order to equip stakeholders with the most recent developments and market shifts.
This detailed research report also covers a comprehensive SWOT analysis of the leading, prominent, and emerging market players functioning in the power inductor market. This will help stakeholders gain an in-depth outlook regarding the growth of the power inductor market.
This exclusive guide analyzes and discusses Porter’s Five Forces to offer key strategies available in the power inductor market over the course of the forecast period. This comprehensive guide offers significant information about the competition present in the power inductor market by determining key competitors. The exclusive report also includes key strategies, financials, and notable developments present in the power inductor market during the forecast period of 2019-2027.
Power Inductor Market - Key Questions Answered
The exclusive report on the power inductor market offers valuable insights to stakeholders functioning in the landscape. Analysts of TMR have taken proper care while preparing the business study, to cover all the key aspects concerning the growth of the landscape, for stakeholders in the power inductor market. The report on the power inductor market answers key concerns encircling the growth of the market. Some of the key questions answered in this global study include:
- What are the recent developments and market shifts observed in the power inductor market?
- What are the key winning imperatives for leading and prominent players functioning in the power inductor market?
- What are the significant trends stimulating the growth of the power inductor market?
- Which end-use industry will exert strong influence on the power inductor market?
Power Inductor Market - Research Methodology
The research report conducted by Transparency Market Research (TMR) analysts consists of a systematic methodology, employed with a view to cull key insights pertaining to the growth of the power inductor market during the forecast period of 2019-2027. Discussions with opinion leaders, market heads, vendors, distributors, industry experts, and key players were conducted in order to conduct primary research. In addition to this, our analysts also carried out a thorough secondary study of marketing collaterals, industry associations, company websites, and government statistics.
Power Inductor Market - Segmentation
In order to present an incisive view of the power inductor market, analysts and researchers of the report have segregated the power inductor market based on type, mounting, core, end-use industry, and region. This comprehensive business study also analyzes the incremental opportunity present in the power inductor market during the forecast period. The key segments of the power inductor market are as mentioned below:
Surface Mount Technology
Through Hole Technology
Thin-film Power Supply
Middle East & Africa