Growth Drivers
Upsurge in the Telecom Industry – The surge in the RF & telecommunication sector and demand for integrated chips is expected to boost the demand for fixed inductors. In the year 2021, the tele-density in India was more than 85% and the gross revenue of the telecom sector was approximately USD 8.75 billion in the first quarter of 2022.
Positive Trend in Export of Electrical Parts - The rising use of inductors in connection with capacitors to create a tuned circuit that serves as a resonator for oscillating current has driven the market for fixed inductors. As per the ITC Trade Map statistics, the value of the export of “parts of electrical” “pre-set” capacitors, fixed, variable or adjustable, grew from USD 1,344,008 thousand in 2020, to USD 1,500,875 thousand in 2021, globally.
Increasing Number of Smart Cities – Growing number of smart cities and smart homes is attributed to increase the demand for energy efficient electronic appliances and devices which is forecasted to propel the demand for fixed inductors. In the year 2019, 102 cities were ranked under the Smart City Index.
Growing Export of Aerospace and Defense (A&D) Industries – The rise in the demand for electromagnetic technology viz, transformers and inductors in the A&D industry is escalating the need for fixed inductors. The A&D industry maintained its positive trade balance in United States, worth USD 40 billion in 2020.
Rise in Preference for Wireless Devices - In comparison to about 57% of individuals who use earphones at home, about 65% of people use wireless headphones. People prefer cordless earbuds around 54% of the time compared to about 44% while using headphones outside.
Challenges
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~4% |
Base Year Market Size (2022) |
~ USD 4 Billion |
Forecast Year Market Size (2035) |
~ USD 7 Billion |
Regional Scope |
|
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
4.5% |
Base Year Market Size (2024) |
USD 4.37 billion |
Forecast Year Market Size (2037) |
USD 7.74 billion |
Regional Scope |
|
Author Credits: Abhishek Verma
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