Automotive Grade Inductor Market Snapshot 2023 to 2033
The global Automotive Grade Inductor market is expected to witness a market value of US$ 2.8 Billion in 2023 and is expected to accumulate a market value of US$ 3.9 Billion by registering a CAGR of 3.2% in the forecast period 2023 to 2033. The Automotive Grade Inductor market registered a CAGR of 2.1% in the historical period 2018 to 2022. Factors such as an increase in demand for integrating technology, as well as penetration of automobile in developing countries are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Automotive Grade Inductor has been flourished. One of the major factors that is expected to boost the market growth includes the continually increasing demand for electric vehicles. Electric vehicles rely heavily on inductors to convert DC voltage to AC voltage, which is necessary to drive the electric motor. As the adoption of electric vehicles increases, the demand for automotive grade inductors is also expected to rise.
The advancements in automotive technology is another major factor that is likely to accelerate the market growth in the forthcoming years. The automotive industry is constantly evolving and innovating, with new technologies being developed and implemented. As a result, the demand for more advanced and sophisticated electronic components, including inductors, is increasing. Automotive grade inductors are crucial components for power management in advanced automotive electronics, such as infotainment systems, advanced driver assistance systems (ADAS), and autonomous driving systems.
Furthermore, in-car connectivity is becoming increasingly popular, with drivers and passengers demanding seamless connectivity to their devices and the internet. Automotive grade inductors are essential components for ensuring stable and efficient power supply to these connected devices. Thus, an increasing use of in-car connectivity is anticipated to boost the demand for automotive grade inductor market during the forecast period.
Besides, the demand for fuel-efficient vehicles is on the rise, driven by increasing fuel prices and environmental concerns. Automotive grade inductors are used in various systems in modern vehicles, such as fuel injection systems, ignition systems, and transmission systems, to improve their efficiency and reduce energy consumption. This factor is projected to augment the sales of the automotive grade inductor in the coming time.
Additionally, the trend of vehicle electrification is gaining momentum, with hybrid and electric vehicles becoming more common. Automotive grade inductors play a crucial role in the power management systems of these vehicles, helping to convert and manage the flow of electricity in the vehicle. Hence, this trend is expected to propel the market growth in the near future.
On the regional end, the Automotive Grade Inductor market in North America is expected to account for the maximum share during the analysis period, owing to the factors such as the increasing demand for electric vehicles, the growing trend of vehicle electrification, and the rising demand for fuel-efficient vehicles in the region. The market is likely to see an increase in demand for high-performance, reliable, and durable automotive grade inductors that meet the stringent requirements of the automotive industry in North America.
On the other hand, the Automotive Grade Inductor market in Asia Pacific is expected to account for a significant share over the forecast period, attributed to the factors such as the increase in demand for fuel-efficient vehicles, as well as the rising adoption of electric vehicles in the region.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Automotive Grade Inductor are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in August 2021, Vishay Intertechnology, Inc. introduced a new commercial IHLP low profile, high current inductor that is the industry's first composite inductor in the 19 mm by 19 mm by 7 mm 7575 case size. Offering high temperature operation to +155 °C for computer, telecom, and industrial applications, the Vishay Dale IHLP 7575GZ-51 offers up to 30 % lower DCR and up to 35 % higher current ratings than devices in the 6767 case size, at a 50 % lower cost than devices in the 8787 case.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 2.8 Billion
Projected Market Value in 2033
US$ 3.9 Billion
Growth Rate (2023 to 2033)
3.2% CAGR
In the short term, demand for grade inductor will rebound steadily, with positive long-term outlook. In the future, increased demand from automotive industry would generate opportunities.
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What is Driving Demand for Automotive Grade Inductor
Automotive grade inductors are current-impelling contraptions that have electromagnetism property. They include an uninvolved two-terminal electrical part that stores energy in an alluring field when the electric stream flows through auto grade inductors. Grade inductors are generally made by really modest mix of nickel zinc ferrite, manganese, powder iron, and metal compound.
Furthermore, the auto grade inductors are acquainted in the vehicle with offer significant AC and DC resistance and to work on the working of the embellishments.
Also, auto grade inductors are used to stay aware of the movement of current and supply isolated current to the vehicle's lace, similar to information contraptions, entertainment devices, and LED lights, among others.
Inferable from their application as stream controlling devices for electrically worked embellishments, the auto grade inductors market is depended upon to notice colossal advancement during the guess time span.
Increasing Efficiency Likely to Growth of Automotive Grade Inductor
Expanding reception of adornments in vehicles to build the proficiency of the tasks is required to drive the development of the car grade inductor market throughout the scheduled time span.
Besides, administrative guidelines relating to auto electronic parts, for example, AEC-Q200 are thusly projected to set out tremendous development open doors for the producers of auto grade inductors and drive the development of the worldwide auto grade inductor market during the figure time frame.
Automotive grade inductors makers are concentrating on developing high-performance inductors that can resist harsh temperatures, have wide band electrical noise, and improve vehicle efficiency.
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North America Automotive Grade Inductor Market Outlook
North America is estimated to be one of the prominent market globally for grade inductor. The USA market is set to account for substantial share in global market during the assessment period 2021 to 2031.
In USA consumers highly prefer old vehicle for daily use, they do not purchase new vehicles, which in turn is expected to increase the sales activity.
Also, North America is projected to grow at considerable growth rate in global market owing to increasing number of manufacturer of light commercial vehicle coupled with increasing penetration of electrically operated accessories.
Europe Automotive Grade Inductor Market Outlook
The COVID-19 crisis has had a significant impact on many European countries, resulting in a drop in economic activity. However, in automotive industry, Europe is home to a number of grade inductor manufacturers, making the region a major producer of automotive components and systems.
Europe is expected to witness noteworthy growth in the global market during the slated time period owing to increasing vehicle production as well as rising demand for passenger vehicle. As a result, the production of passenger and commercial vehicle with automotive grade inductor has increased. Especially in Germany, the United Kingdom, France, and Italy. Smooth operation efficiency feature highly adopted by manufacturers in these countries are expected to grow at a rapid rate.
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Who are the Key Manufacturers and Suppliers of Automotive Grade Inductor
Some of the leading manufacturers and supplier of automotive grade inductor includes
Automotive grade inductor is supplied by several leading manufacturers and suppliers under long-term contracts with end-users.
Furthermore, manufacturers are focusing on developing manufacturing facilities in Asia Pacific countries such as India, China, Thailand, and Taiwan in order to meet the region's growing demand.
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