Inductors Market 2019 Global Leaders: Tdk Corporation, Vishay Intertechnology, Panasonic, Avx, Sanyo Electric, Tokin, Murata Manufacturing

The global inductor market was valued at USD 4,231.7 million in 2017, and is expected to reach USD 5,157.3 million by 2023, registering a CAGR of 3.57%, over the forecast period of 2018-2023. The scope of the report is limited to two types of inductors - power and frequency inductors.

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The increasing use of inductors in smartphones, servers, tablets, notebooks, and portable gaming devices, GPS products, because of their capacity to withstand large currents, small size and low DC resistance, is a primary driver for the market’s growth. The rapid growth in consumer electronics consumption across the world is a major breakthrough in the market. The worldwide smartphones shipments rose from 0.52 billion units in 2012 to 1.51 billion units in 2016. However, smartphones have attained the maturity in penetration and are expected to witness a stable growth in the forecast period.
With the move towards the future of connected cars and ADAS (advanced driver assistance systems), the automotive sector is expected to witness the fastest growth rate over the forecast period. However, manufacturers have not been able to reduce the size of inductors, despite extensive efforts. Thus, with the rising demand and trend of miniaturization, the inability to create more compact products poses a challenge to the inductor market.

Key Developments in the Market
• January 2018 - AVX Corporation signed a definitive agreement to acquire Ethertronics Inc., which is a manufacturer of passive and active antenna systems. The addition of Ethertronics offered an opportunity for AVX to expand its extensive electronic product offering into a new arena.
• January 2018 - Murata launched compact, high-current 0806 size metal alloy inductors for automotive applications. It is suitable for the power supply of automotive information equipment, such as infotainment systems. This was a step toward fulfilling the rising demand for compact, high-current power inductors used in information electronics, in automotive applications that demand higher reliability.
• November 2017 - Delta Group launched its latest integrated solutions and framework for smart manufacturing, at the SPS 2017 exhibition in Germany. This framework covers new automation technologies and products, including a cloud-based IIoT platform, as well as data transmission, industrial control, drive devices and motion systems, and flexible production solutions that make the way for smart manufacturing.
• September 2017 - Vishay Intertechnology Inc. launched the first extended-frequency inductor in the low-profile, high-current IHLP family. The new IHLP-1616BZ-0H series features high frequency performance up to 10 MHz, with the lowest losses of any inductor on the market for frequencies of 1 MHz and above. The use of IHLP-1616BZ-0H enabled designers to improve efficiency and potentially reduce the size of DC/DC converter circuitry.

Major Players:
TDK CORPORATION, VISHAY INTERTECHNOLOGY INC., PANASONIC CORPORATION, AVX CORPORATION, SANYO ELECTRIC CO. LTD, TOKIN CORPORATION, MURATA MANUFACTURING CO. LTD, SUMIDA CORPORATION, DELTA ELECTRONICS INC., AND TAIYO YUDEN CO. LTD, amongst others.

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Adoption of Advanced Consumer Electronic Devices Drives the Demand for Inductors
The evolution of touchscreens and other advanced features in consumer electronics has garnered consumers’ interest toward the technology and indulged them to spend on purchasing products. The rising standards of living have further contributed to the increase in the sales of the consumer electronics. There is a significant growth in purchase of home appliances and consumers are opting for premium appliances. The economic growth and increasing average disposable incomes in most of the developing countries has led consumers to opt for products of luxury brands. The growing penetration of smartphones and internet throughout the developing regions, such as India and Japan essentially, has surged the consumer interest toward the adoption of advanced digital devices.
Moreover, smart home appliances offer remote control to the existing products and are connected to internet, thus allowing the consumer to turn on and off remotely. The IoT consumer electronics will continue to gain traction. IoT-based home solutions are expected to grow exponentially by 2025. The usage of inductors in these products and the growing consumer electronic devices with increased digitalization are driving the growth of the inductor market.

Automotive Industry to Witness the Fastest Growth Rate
With the rise in automotive electronics, such as ignition, radio, telematics, engine management, and in-car entertainment systems, electronic systems have become an increasingly significant component of the cost of an automobile. With the increasing demand for hybrid electric vehicles, the need for power inductors is on the rise. The opportunities for inductors in the automotive sector include - collision avoidance systems, radar systems, and electronic braking. The drive to improve drivetrain efficiency, especially in hybrid electric drivetrain, is expected to pose a significant opportunity for inductor manufacturers.
Moreover, the TPMS (tire pressure monitoring systems) becoming mandatory has paved the path for the emergence of new opportunities for the growth of inductors in this sector. The installation of tire pressure surveillance system in North-American automobiles was made obligatory. This surveillance system is a wireless communication-based safe driving system and uses a pressure sensor to detect information on individual tires, and wireless data transmission uses the resonance of a capacitor and an inductor.

Asia-Pacific Dominated the Market
Over the last decade, owing to the cheap transport and raw material cost, Asia-Pacific has been the prime destination for manufacturers of many countries. Owing to these factors the manufacturing facilities of many countries are located in Asia-Pacific. These companies have been undergoing many changes, such as the introduction of trends, like Industry 4.0, which have been increasing the amount of automation of the production processes, subsequently leading to an increased use of inductors, owing to their presence in many electronic assemblies.
Many countries in the region have initiated the transition to more advance connectivity speeds, such as 4G, which require more number of inductors compare to the previously used technology. 4G technology needs about 60-90 pieces of inductors, whereas 3G needs about 15-20. In addition,, smart city initiatives in the region have also been on the rise, which contribute to the growth of inductors in the region. Cities, such as New Delhi, have received grants worth USD 7.8 billion by the government, to be spent in a period of five years toward smart city initiatives.

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