Chokes Market Expected to Reach USD 2.6 Billion by 2031

The global chokes market size was valued at $1.5 billion in 2021, and chokes industry is projected to reach $2.6 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.

The report provides a comprehensive analysis of the Chokes Market, including its size, share, competitive landscape, and trends. It segments the market by type (including Inductor Choke, RF Choke, Common-Mode Choke, and others) and by end-use industries (such as Automotive, Consumer Electronics, Aerospace and Defense, Telecommunications, Industrial Automation, among others). This report offers a global opportunity analysis and industry forecast spanning from 2021 to 2031.

Chokes, also referred to as inductors or reactors, are passive electronic components utilized for regulating current flow in electrical circuits. Essentially, a choke consists of a coil of wire wound around a magnetic core. When current passes through the coil, it generates a magnetic field that opposes changes in the current, a phenomenon known as inductance.

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The chokes market is poised for growth in the forthcoming years, fueled by several pivotal factors. A primary catalyst for this growth is the escalating demand for advanced electronic systems and technologies across various sectors, encompassing automotive, telecommunications, consumer electronics, and industrial automation. With these industries continuing to expand and innovate, the need for chokes to regulate power flow and safeguard delicate equipment from electrical noise and interference is anticipated to rise.

In the Hydrogen Storage industry, leading market players employ diverse strategies such as introducing new products, advancing product development, fostering collaborations, forming partnerships, and entering agreements to exert influence on the market. This involves providing insights into the strengths of key market players, their product portfolios, analyses of market size and share, operational performance, and market positioning.

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By type, it is divided into power inductor, RF chokes, common-mode chokes, and others. The common-mode choke segment accounted for the largest revenue share in the global chokes market in 2021.

By end-use, it is divided into automotive, consumer electronics, aerospace & defense, telecommunications, industrial automation, and others. The consumer electronics segment accounted for the largest revenue share in the global chokes market in 2021.

By region, Asia-Pacific is one of the fastest-growing markets for chokes, with significant demand from industries such as telecommunications, consumer electronics, and automotive. The market share for chokes in Asia-Pacific is expected to continue to grow due to the increasing adoption of electronic systems and the growth of manufacturing industries in the region. Asia-Pacific is home to some of the largest manufacturing industries in the world, including electronics, semiconductors, and industrial automation.

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Key Findings of the Study:
As per chokes market analysis, on the basis of type, the common mode choke segment emerged as the global leader by acquiring more than two-fifths of the chokes market share in 2021 and is anticipated to continue this trend during the forecast period.

On the basis of end-use, the consumer electronics segment emerged as the global leader by acquiring more than one-third of the chokes market share in 2021 and is anticipated to continue this trend during the forecast period.

On the basis of region, Asia-Pacific is the major consumer of chokes among other regions. It accounted for more than one-third of the global market share in 2021.

Key Market Players:
Murata Manufacturing Co., Ltd.
Vishay Intertechnology Inc.
Panasonic Corporation
Delta Electronics, Inc.
Eaton Corporation
AVX Corporation
Sumida Corporation
ROHM Semiconductor
TDK Corporation

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