Rise in Demand from Automotive Industries Expected to Drive Global Discrete Inductors Market: Ken Research
Inductors are special components designed to resist the changes and are used for storage of energy in the form of magnetic field. They are also referred to as passive electronic component. They are electric devices consisting of single & multiple loops of wire and typically have two terminals. Change in the magnetic field induces the voltage that opposes the field-producing current which is identified as inductance. They are connected to a circuit to enhance the inductance to a desired value. The inductance of discrete inductor is dependent on the number of loops of copper wire around the metal or air and radius of the copper coil.
The availability of various inductors makes it challenging to select the accurate inductor as per application. Selection of the precise inductor is done depending upon the application & design of the electronic circuit. Current rating, Performance, cost, and size are also some of the main factors considered while selecting an inductor for an application.
As per analysis, “Global Discrete Inductors Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global discrete inductors market include Pulse Electronics, TT Electronic, Yageo, Murata, API Delevan, Vishay, Taiyo Yuden, Gowanda Electronic, Chilisin Electronics, Shenzhen Sunlord Electronics, Panasonic, TDK, Coilcraft, Laird Technologies, Fair-Rite, NEC-TOKIN and among others.
Based on type, discrete inductors market is segmented as deposited coils and wire-wound coils. Wire-wounded coils comprises of a wire with the high resistance wound in a coil around the cylindrical core of insulating material. In addition, based on application, market is segmented as noise control and elimination (LC Filter), energy storage & voltage stabilization and energy storage & voltage stabilization.
The discrete inductors market is driven by rise in trend of smart cities and smart homes, followed by growth in innovations & developments in consumer electronic products and rise in demand from automotive industries. Apart from this, longer lead time of inductors and fluctuating prices of raw materials are major hindering factors for market. Moreover, rise in adoption of electric vehicles, increase in demand for wireless and connected devices and growth in inception of 5G technology are key opportunities for market. Furthermore, advancements in telecommunication & integration of integrated chip are major trend for market.
Based n regional analysis, the North-America holds major share in global discrete inductors market owing to rise of deployment of smart grids & automotive and growth in demand for compact power efficient & light weight devices across the region. The Europe and Asia-Pacific regions are likely to witness higher CAGR due to growth in urbanization, rapid industrialization, and increase in disposable income of the population in the emerging economies over the forecast period. China is the major source of demand for discrete inductor components in the present market scenario, due to rapidly growing semiconductor industry along with automation in the industrial sector. It is estimated that future of the global discrete inductors market will be bright as a result of increase in complexity in mobile devices during the forecast period.
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Ankur Gupta, Head Marketing & Communications