Inductor Market to Grow 6.2% Through 2019
Component miniaturization, weight reduction and ease-of-manufacturing have all contributed to growth in the market for inductors, a fundamental passive component.
The global inductor market, estimated at $2780 million in 2014, is expected to reach $3750 million by 2018, according to “Global Inductor Market by Type (Fixed Inductor, Variable Inductor, Couple Inductor, Multilayer Inductor, Power Inductor, and Surface Mount Inductor), by Application, and by Geography – Analysis and Forecast (2014 – 2019).” That’s a CAGR of 6.2% from 2014 to 2019.
Inductors are an integral part of antennae. The increasing demand for wireless devices such as routers, access points, gateways, and broadcasting systems, along with smartphones and tablets is driving the RF & Telecommunication inductor market. Other application areas of inductor are automotive industry, power industry, industrial sector, military & defense, and consumer electronics.
Continuous research and development in the field has resulted in size minimization, weight reduction, and easy surface mounting methods along with, reducing the time and money, thereby driving the rapid growth of the inductor market. Additionally, factors such as the increasing usage of passive components and the roll-out of sophisticated electronic components are driving the growth of this market.
Inductors are one of four types of passives, the other three being resistors, capacitors, and memristors. Inductors are formed with the help of a wire tightly wrapped around a solid central core, to concentrate their magnetic flux. The inductor market is segmented into types; including fixed, variable, couple, surface mount, multilayer, and power inductors; and also by core type, including air core, ferromagnetic core, ceramic core, toroidal core, and laminated core.
Regionally, the Asia-Pacific market is expected to grow at the highest CAGR of 7.6% during the forecast period due to various factors such as demographic changes, increasing demand of smart devices, rise in purchasing power, and growing population.