Global automotive grade inductors demand is anticipated to be valued at USD 2,800 Million in 2022, forecast to grow at a CAGR of 3.20% from 2022 to 2032, to be valued at USD 3,836.56 Million. As of 2021, the market was valued at USD 2,759 Million and is poised to register a Y-o-Y growth rate of 1.5% by 2022.
Growth is attributed to its strong AC and DC current-resistance feature and its current regulating mechanism that enhances the operations of automotive accessories. It also regulates current flow to the electronic parts in the automobiles such as in-vehicle infotainment systems and LED lights.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 2,759 Million |
| Expected Market Value (2022) | USD 2,800 Million |
| Anticipated Forecast Value (2032) | USD 3,836.56 Million |
| Projected Growth Rate (2022 to 2032) | 3.2% CAGR |
Automotive inductors are made up of a coil winding, possessing two terminals through which passes a flux. A change in the amount of flux passing through the coil determines the inductive current. In reality, there is a voltage drop around the coil due to flux passing through the coil which induces a current in the coil.
This current regulation feature that stabilizes the electric circuits in cars is one of the main reasons for the growth of automotive-grade inductors market. A significant development in the automotive grade inductors market is the design of high-end inductors that operate under extreme temperature conditions without any significant downtime. This improves the productive efficiency of the vehicle parts, in turn driving the automotive-grade induction market to high growth.
The government-stipulated regulations to support the passive electronic parts in automobiles have tremendously bolstered the automotive grade inductors enhancing the market infinitely during the forecast period.
The adoption of part accessories to augment the efficiency of operations is witnessing the growth of the automotive grade inductors market over the forecast period. The epitome of a global standard for stress resistance- AEC-200 which underlines efficiency in the vehicles to withstand extreme temperatures and resistance to physical stress drives growth for the automotive grade inductors market. The clutter-free and noiseless operations of the intricate parts in automobiles augment the prolific design and manufacture of the passive automotive grade inductors, driving the automotive grade inductors market.
Miniaturization of parts in the passive component industry leads to the growth of the automotive grade inductors market with the development of miniature inductors. Furthermore, Wi-Fi, Bluetooth, GPRS, and GPS-enabled digitalization in technology will directly impact the automotive grade inductors market. With the integration of technology, the automotive grade inductors market finds a strong foothold in the market.
A consistent drive to spur the technological frontiers of the automobile industry by introducing new technology has taken its toll on the automotive grade inductors industry. Also, the raw materials in the manufacture of electronic inductors are traversing a low trajectory.
This is due to the supply of copper which makes up the inductive coil in the automotive grade inductors and ferrite rods which are imported from China, Japan, and India are fluctuating owing to variations in prices. Thus the prices of raw materials will impact the automotive-grade inductor industry adversely.
Asia Pacific is anticipated to grow at a considerable growth rate in the global automotive grade inductors market owing to the prolific number of passenger cars under manufacture coupled with an increasing market penetration of electrically monitored accessories. China is tagged with the moniker- the automotive capital of the world with the largest automotive market in the world, with registrations climbing to 21 million units in 2020.
Europe is projected to witness noteworthy growth in the global automotive grade inductors market during the slated timeframe owing to rising vehicle production as well as growing demand for passenger vehicles. Germany has new car brands rolling out with iconic automotive designs such as Mercedes, BMW, and Audi belonging to the nation and adding value to the automotive grade inductors market.
Some of the key participants present in the global automotive grade inductors market include Mouser Electronics, Inc., Laird Technologies, TDK Corporation, Abracon, TTI, Inc., Avnet, Inc., Vishay Intertechnology, Bourns, Inc., Murata Manufacturing Co., Ltd., and Viking Tech Corporation.
With the presence of such a high number of participants, the market is highly competitive. While global players such as TDK Corporation and Abracon account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.2% from 2022 to 2032 |
| Market Value in 2022 | USD 2,800 Million |
| Market Value in 2032 | USD 3,836.56 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Inductance Rate, Vehicle Type, Sales Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, United Kingdom, France, Spain, Italy, Russia, BENELUX, China, Japan, South Korea, GCC Countries, South Africa, Turkey |
| Key Companies Profiled |
Mouser Electronics, Inc.; Laird Technologies; TDK Corporation; Abracon; TTI Inc.; Avnet Inc.; Vishay Intertechnology; Bourns Inc.; Murata Manufacturing Co. Ltd.; Viking Tech Corporation |
| Customization | Available Upon Request |
According to Future Market Insights, automotive grade inductors market demand is poised to grow at a 3.2% CAGR from 2022 to 2032
Asia Pacific is slated to be the most promising hub for automotive-grade inductors
Mouser Electronics Inc., Laird Technologies, and TDK Corporation are amongst the most prominent automotive grade inductors market players
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Automotive Grade Inductors Market
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