With 5.4% CAGR, Common-mode Chokes Market Growth to Surpass USD 820 Million

The Common-mode Chokes Market is projected to grow from USD 629 Million in 2023 to USD 820 Million by 2028; it is expected to grow at a CAGR of 5.4% during the forecast period. Increasing deployement of common-mode chokes in consumer electronics is one of the primary factors for the growth of common-mode chokes market. Proliferation towards Industry 4.0 technology around the globe are factors driving demand of common-mode chokes. Rising us of common-mode chokes in automotive and transportation will boost the growth potential for common-mode chokes market in the coming years.

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A new asymmetrical winding common-mode (CM) choke can attenuate the differential-mode (DM) noise. In the case of conventional symmetrical winding CM chokes, the CM and DM noises are attenuated by the magnetizing and leakage inductors of CM chokes, respectively. However, since the number of turns is limited by the shape and size of the CM choke, it is very difficult to obtain enough leakage inductors to eliminate the DM noise thoroughly. For this reason, the bulky choke should be used for the larger leakage inductor, or another choke is usually used for only DM noise attenuation.

Increasing efforts to establish a carbon-neutral economy by reducing CO2 emissions will accelerate the adoption of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), creating growth opportunities for the providers of common-mode chokes. According to the International Energy Association (IEA), the sales of electric vehicles reached 3 million in 2020, an increase by 40% compared to 2019. According to the International Energy Agency, the sales of BEVs and PHEVs doubled in 2021, reaching around 6.6 million. Thus, the rising adoption of EVs will create new opportunities for common-mode choke manufacturers during the forecast period.

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North America is expected to witness the highest CAGR during the forecast period owing to the rising trend toward energy-efficient and smart home consumer electronics. This will increase the requirement for improved common-mode chokes in the near future. Adding to this, North America is a major hub for technological innovation. It is also an early adopter of new and advanced technologies. According to Alarms.org, 57% of Americans have smart products in their house, and the percentage of people with smart products is growing substantially to 47%. The proliferation of new and improved consumer electronic systems and appliances will drive the requirement for common-mode chokes in the region.

News also Covered: https://www.prnewswire.com/news-releases/common-mode-chokes-market-worth-820-million-by-2028---exclusive-report-by-marketsandmarkets-301718848.html

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