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Global Automotive Grade Inductors Market Size, Share, and Analysis, By Inductor Type (SMD Power Inductors, Plug-In Power Inductors), By Application (Transmission Control Units, LED Drivers, HID Lighting, Noise Suppression), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Sales Channel (OEMs, Aftermarket) and Regional Forecasts, 2022-2032
Automotive Grade Inductors Market size was USD 2.7 billion in 2021 and projected to grow from USD 2.9 billion in 2023 to USD 4.2 billion by 2032, exhibiting a CAGR of 4.1% during the forecast period.
Automotive-Grade Inductor is the current-producing electro-magnetic instrument that is strong in nature and complies with standards of (AEC) Automotive Electronics Council's Q200. These inductors can withstand shock stresses and extreme temperatures in automobile systems to offer better reliability to voltage regulators, DC-to-DC converters, multi-phase regulation modules, battery-powered systems, and point-of-load models utilized in-vehicle electric systems. They offer impedance matching, high-frequency filtering, and radio-frequency tuned circuits in automotive transmission in automobile.
Automotive Grade Inductors Market is expected to reach USD 4.2 billion, growing at a CAGR of 4.1% during the forecast period owing to the speedy improvements in automobile infotainments and growing demand for Electronic Vehicles. Furthermore, growing emphasis on carbon neutrality and the enforcement of strict regulations are encouraging automakers to enter the EV market. These factors are expected to boost the growth of Automotive Grade Inductors Market over the forecast period.
Automotive Grade Inductors Market is classified based on the Application into Transmission Control Units, LED Drivers, HID Lighting, and Noise Suppression. The Transmission Control Units (TCU) category is projected to lead the global Automotive Grade Inductors Market over the forecast period. This supported by the TCU's monitoring and control of the automatic gearbox of the car. To choose gears properly and improve engine emissions, fuel efficiency, gear shift system dependability, and stable handling, input from numerous sensors is processed.
Automotive Grade Inductors Market is classified based on the Sales Channel into OEMs and Aftermarket. The Original Equipment Manufacturers (OEMs) category is anticipated to hold fast revenue growth rate in the market during the estimated period. This backed by OEMs’ increasing integration of components into their vehicles' electronic and electrical systems using automotive grade inductors. Since the automotive businesses are increasingly affected by digital User Experience rather than horsepower, OEMs are focusing heavily on improving their capacity to generate good software and actively transform their sources of differentiation.
Expanding Demand for Electric Vehicles and Rising Miniaturization in Electronic Devices is Expected to Boost the Market Growth
The growing demand for electric vehicles, and the growing miniaturization of electronic equipment trend, are driving the growth of the Automotive Grade Inductors Market. This is due to the fact that electric cars are power-driven by batteries, which need inductors to function properly. Furthermore, stringent emission standards across regions are causing automakers to adopt more fuel-efficient technologies, which necessitate the use of induction motors in different applications within automobiles like air conditioning compressors, power steering systems, and more, thereby fuelling the growth of the Global Automotive Grade Inductor Market.
Technological Advancements and Growing R&D Spending by Automobile Producers are Expected to Boost the Market Growth
Every day, new technologies are introduced into the automotive sector, which is continually evolving. As a result, automakers' R&D investment has increased, fuelling modernization in the Automotive Grade Inductor Market. Some of these developments include the incorporation of sophisticated materials into inductor designs like carbon nanotubes and graphene.
Instable Prices of Raw Materials to Restrain the Market Growth
Copper is commonly utilized as a raw material in the manufacture of automotive grade inductors owing to its comparatively strong thermal and mechanical qualities. The copper line width is limited when making automotive grade inductors, and the density of metal pattern should be as even as possible. Japan, China, India, Germany, and South Korea are the top importers of iron, copper, and ferrite, and the price of raw materials is affected by supply and demand. Hence, one of the major factors impacting the cost of inductors is the fluctuating price of iron, copper, and ferrite. As a result, raw material prices will hamper the market growth.
Automotive Grade Inductors Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North American market is predicted to have the highest revenue growth rate in the global Automotive Grade Inductors Market over the forecast period. This is owing to increasing number of R&D projects for product enhancement by several major automobile businesses. Moreover, fast technical breakthroughs and the growing adoption of Electric Vehicles and hybrid automobiles are likely to boost market revenue growth throughout the projection period.
The Global Automotive Grade Inductor Market was impacted by the manufacturing slowdown and supply chain disruption caused by COVID-19. Shortage of raw materials in pandemic was the most difficult hurdle for businesses worldwide. Industrial facilities are either closed or were unable to operate at full capacity, which had a detrimental impact on the inductor market. Due to business closures, the automobile industry experienced disruption. The disruption in Chinese part exports, large-scale manufacturing outages throughout Europe, and the shut-down of assembly plants in the U.S. had a detrimental influence on the Automotive Grade Inductor Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 4.1% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Inductor Type |
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Application |
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Vehicle Type |
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Sales Channel |
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By Region |
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Automotive Grade Inductors Market size was estimated at USD 2.7 billion in 2021 and is expected to reach USD 4.2 billion in 2032.
Automotive-Grade Inductor is the current-producing electro-magnetic instrument that is strong in nature and complies with standards of (AEC) Automotive Electronics Council's Q200. These inductors can withstand shock stresses and extreme temperatures in automobile systems to offer better reliability to voltage regulators, DC-to-DC converters, multi-phase regulation modules, battery-powered systems, and point-of-load models utilized in-vehicle electric systems.
Transmission Control Units and OEMs segments accounted for the largest Automotive Grade Inductors Market share.
Key players: Panasonic Industry Co. Ltd., TDK Corporation, Murata Manufacturing Co. Ltd., Vishay Intertechnology, Avnet Inc., KYOCERA AVX, Bourns Inc., TTI Inc., Mouser Electronics Inc., Laird Technologies, NIC Components, Abracon, Viking Tech Corporation, Coilmaster Electronics, Shaanxi Fullstar Electronics Co. Ltd, and Other Prominent Players are the key players in the Automotive Grade Inductors Market.
Growing demand for Electric Vehicles and strict emission laws, propelling manufacturers to use fuel-friendly technologies are the factors driving the Automotive Grade Inductors Market.
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