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Inductors, Cores, and Beads Market: Information by Inductor Application (Power Inductor, Frequency Inductor), Inductor Core (Air/ceramic Core), Inductor Type, and Region — Forecast till 2030

Market Snapshot
Study Period:
2020-2030
Base Year:
2021
Fastest Growing Market:
North America
Largest Market:
Asia Pacific
CAGR:
4 %
Key Players
TDK Corporation

Vishay International Inc

Panasonic Corporation

Murata Manufacturing Co Ltd

Taiyo Yuden Co Ltd

The global inductors, cores, and beads market size was valued at USD 9 billion in 2021 and is projected to reach USD 13 billion by 2030. The market is anticipated to grow at a CAGR of 4% during the forecast period (2022–2030). In most electrical circuits, an inductor is a passive component that stores energy in the form of magnetic energy when electric current flows through it. A coil, choke, or reactor is another name for it. It's a high-inductance two-terminal electrical component with two terminals. Inductance is the ratio of voltage to the current rate of change. The voltage ratio to the rate of change of current is known as inductance. The SI unit of inductance is the Henry, which was named after an American physicist named Joseph Henry.

Market Dynamics

Drivers: Increasing Innovation and Adoption of 5G Solution to Propel Demand for Market

The demand for various connected devices such as smartphones, laptops, tablets, communication infrastructure equipment, and numerous other electronic gadgets increases as 5G technologies become more widely available. 5G is currently one of the most heavily invested technologies in the global market by various end-user sectors. 5G connectivity is also offering up new possibilities for improving the efficiency of numerous businesses. Consumers expect digital involvement and tailored experiences as technology and cellphones become more prevalent.

Furthermore, the increasing propensity of government entities to use IoT and 5G technologies is having a beneficial impact on the market under study. For example, the FCC announced a public spectrum auction in December 2020 to help simplify the adoption of 5G in the United States. The FCC would allot the 3.7-4.0 GHz section for mobile use and 280 megahertz from the 3.7-3.98 GHz band for wireless services inside the 3.7-4.2 GHz range.

With Ericsson predicting that global 5G subscribers will reach 3.5 billion by 2026, global demand and investment in technology and infrastructure are projected to rise. The investment in the adoption of technology from the industrial sector is projected to further fuel growth in the next years, as major telecom carriers strive to extend their capabilities in this arena.

Emerging applications and business models and lower device costs have aided IoT adoption, increasing the number of connected devices and endpoints around the world. Massive machine-type communication (MTC) is a feature of 5G that will allow tens of billions of network-enabled devices to connect wirelessly.

Several MTC applications are already served by modern communication networks. The unique characteristics of mMTC, such as large number of devices and small payload sizes, necessitate fresh concepts and methodologies. A density of one million devices per square kilometer is possible with 5G.

5G may transport far more data faster than 4G LTE. However, in the Internet of Things (IoT) world, faster isn't always better or even essential, especially when it necessitates more power on the end device. As a result, the 5G NR standard will bring new device types such as Cat-M1 (with a bandwidth of 1.4 MHz) and narrowband (NB-IoT).

Restraints: Fluctuating Prices of Raw Materials to Plummet Demand for Inductors, Cores, and Beads Market

Raw material prices, such as nickel, iron, and molybdenum, have shifted dramatically. With the pandemic's impact, the global precious metal market is seeing the negative consequences of supply chain challenges, which impact market pricing. According to the World Bank, the nickel price in February 2021 was USD 18,584.38, up from USD 16,823.04 per metric ton in December 2020.

As nickel is a critical component of the steel industry and hence vital to industrial countries, the price of the metal has recently been influenced by ongoing supply-side constraints in some parts of the world. Indonesia, the world's top nickel miner and exporter, prohibited nickel exports in January to raise prices due to restricted supplies to China.

Molybdenum prices are falling around the world. According to the London Metal Exchange, the molybdenum price per pound in April 2021 was USD 11.03 and is likely to fall further in the next months.

Furthermore, price variations in materials such as dielectric ceramics significantly influence the pricing. The cost of the product is substantially influenced by the fact that market vendors tend to retain their stock based on the price of the material and availability in the market.

Changes in metal pricing and availability have historically shown to be the most significant risk factors in the cost of producing both mass-produced inductors, each with billions of components.

Opportunities: Various Factors to Create an Opportunity in the Inductors, Cores, and Beads Market

Two key industries, consumer electronics and automotive, are likely to boost global demand for inductors, cores, and beads. The global need for electronic components in the automotive industry is predicted to expand dramatically due to the expansion of electric vehicles and autonomous solutions, resulting in a faster increase in demand for inductors.

Furthermore, the desire for linked cars around the world is projected to have a favorable impact. Currently, North America is the largest market for connected automobiles, but Asia-Pacific is likely to overtake North America in the next years.

Aside from that, the global desire for new and upgraded consumer gadgets is likely to stimulate demand growth in the future years. According to Ericsson, North America is now experiencing stronger global demand for 5G equipment.

The growing demand for smart home and smart city solutions, combined with the spread of IoT technologies, is likely to drive up demand for electronic components across all end-user verticals. By 2023, industrial IoT is predicted to have a faster growth rate and more connections than consumer IoT solutions. This is also likely to help boost demand for passive electronic components in the next years.

Technology miniaturization is predicted to be one of the market's strategic emphasis factors in the approaching years. Major vendors' R&D efforts are projected to accelerate to focus on developing innovative solutions and extending their product lines.

With the introduction of smaller inductors, the usage of technologies such as CMOS is predicted to increase, as is the use of technology in electronic solutions, which is expected to grow at a faster rate.

Impact of COVID-19

The declaration of COVID-19 as a pandemic has caused significant disruption in the supply chain. To assist the spread of COVID-19, which causes the fatal COVID-19 respiratory infection, many enterprises around the world ceased or limited operations.

Covid -19 Impact On Market

As a result, several firms had to close their factories, causing supply chain issues across the market. For example, during the early days of the pandemic, Murata's production sites in China, such as Wuxi 1, Wuxi 2, and Shenzen, were shuttered due to many positive cases at their facilities. However, within six weeks, these facilities were working again. As a result of these developments, the market has experienced substantial supply chain challenges.

Due to supply chain disruptions, the pandemic significantly impacted the global manufacturing sector. It had impacted a variety of inductors, cores, and beads end-users. Furthermore, because China is a significant source of raw materials and final products, the COVID-19 pandemic substantially impacted electrical equipment. The sector was on the verge of experiencing production cuts, supply chain disruptions, and pricing changes.

Due to the dramatic drop in sales and investments in the industry, demand from the automotive industry is projected to remain slow. The worldwide government's willingness to accept ecologically sustainable solutions such as electric automobiles, on the other hand, is predicted to accelerate growth beyond 2021.

Segmental Insights: Inductors, Cores, and Beads Market

By inductor application, the segment is divided into power inductors and frequency inductors. The power inductors segment dominated the global inductors, cores, and beads market and is expected to grow at a CAGR of 4% generating a revenue of USD 7 billion by 2030.

A power inductor is an electronic device that uses a magnetic field to receive and store electrical energy. An electrical circuit with fluctuating current or voltage maintains a stable current. In situations where voltage conversion is required, power inductors are utilized because they have lower core losses, which are used to reduce signal loss in system design and filter ESR (Electromagnetic interference) noise. Enhanced product quality and size reduction have come from technological advancements that enable improved chemical vapor deposition, increasing market demand.

Based on inductor core, the inductors, cores, and beads market is divided into air/ceramic core, ferrite core, and other core types. The air/ceramic core segment dominated the inductors, cores, and beads market and is anticipated to grow at a CAGR of 4% generating a revenue of USD 6 billion by 2030.

The relative permeability of the air core is quite low when compared to other core materials. As a result, the inductance of the air core is lower than that of ferrite, ceramic, and other core materials. The little signal loss at greater magnetic field strengths is one of the major advantages of air-core inductors. When the frequency exceeds 100 MHz, an air-core inductor can transport electromagnetic frequencies up to 1 GHz, whereas ferromagnetic core inductors experience loss.

One of the most popular materials utilized for inductor cores is ceramic. Its main function is to give the coil a shape. It also provides the framework that holds the terminals in some designs. The thermal coefficient of expansion of ceramic is extremely low. This enables reasonably good inductance stability over a wide range of operating temperatures.

By inductor type, the inductors, cores, and beads market is divided into multilayer chip, molded SMD wire wound, axial, and radial. The multilayer chip segment dominated the inductors, cores, and beads market and is forecasted to expand at a CAGR of 5% generating a revenue of USD 6 billion by 2030.

Several layers of coiled wires are wound around a central core in multilayer chip inductors. Increasing the inductance of an inductor by adding more layers of the coiled wire increases the capacitance between the wires. Higher inductance is exchanged for a lower maximum operating frequency in multilayer chip inductors.

Regional Insights: Inductors, Cores, and Beads Market

Significant Growth in Asia-Pacific and North America

Based on region, the global inductors, cores, and beads market share is divided into North America, Europe, Asia-Pacific, and Rest of the World.

The Asia-Pacific region held the largest share in the global inductors, cores, and beads market and is projected to grow at a CAGR of 5% generating a revenue of USD 8 billion by 2030.

Inductors experienced high growth in Asia-Pacific, as the global move toward working from home and online shopping led to increased demand for laptops and smartphones from businesses, governments, and individuals.

North America is the second-largest region in the global inductors, cores, and beads market. It is projected to grow at a CAGR of 5% generating a revenue of USD 8 billion by 2030.

Inductors used in electric vehicle start-stop systems are quite demanding in high-current handling. High-inductance and high-power components are required for these applications, which necessitate shielded power inductors specifically developed for them. In addition, the US has expanded its funding on intelligent transportation in recent years, spurring multiple EV businesses and R&D initiatives in the region.

Top Key Companies

  • TDK Corporation
  • Vishay International Inc.
  • Panasonic Corporation
  • Murata Manufacturing Co. Ltd
  • Taiyo Yuden Co. Ltd
  • Kemet Corporation
  • AVX Corporation
  • Texas Instruments
  • TT Electronics PL
  • Hefei MyCoil Technology Co. Ltd.

Recent Developments

  • April 2022- TDK Corporation (hereinafter "the Company") announced a definitive agreement on the formation of a joint venture between Amperex Technology Limited (Hong Kong Special Administrative Region of China, hereinafter "ATL"), a rechargeable battery company, and Contemporary Amperex Technology Co., Limited (Fujian, China, hereinafter "CATL"), a rechargeable battery company.
  • April 2022- PCIM Europe 2022, a trade event and conference for power electronics, intelligent drive technology, renewable energy, and energy management, was announced today by Vishay Intertechnology, Inc. (NYSE: VSH). Vishay will showcase its latest industry-leading passive component, diode, MOSFET, and power IC technologies at the upcoming event, which will be held from May 10 to 12 at the Messe Nuremberg in Germany. These technologies are paving the way for innovation in today's fastest-growing markets, such as e-mobility, Industry 4. 0, 5G, and IoT. Vishay may be found at Booth 208 in Hall 9.
  • April 2022- In Sri City, Andhra Pradesh, Panasonic Life Solutions India opened its first-of-its-kind Manufacturing Unit for the Electrical Construction Material Segment.
  • June 2020- Yageo acquired all of the outstanding shares of KEMET's common stock for the US $27.20 per share in an all-cash transaction with an equity value of approximately US $1.6 billion, in compliance with the merger agreement's provisions. KEMET is now a wholly-owned subsidiary of Yageo, and its common stock is no longer traded on any public exchange as a result of the deal.

Global Inductors, Cores, and Beads Market: Segmentation

By Inductor Application

  • Power Inductors
  • Frequency Inductors

By Inductor Core

  • Air/ceramic Core
  • Ferrite Core
  • Other Core Types

By Inductor Type

  • Multilayer Chip
  • Molded SMD Wire Wound
  • Axial
  • Radial

By Region

  • North America
  • Europe
  • Asia-Pacific
  • The Rest of the World
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