Inductor Market Size & Share, by Inductor Material Type (Powered Iron Core Inductors, Air Core Inductors, Iron Core Inductors, Ferrite Core Inductors); Form (Multilayer Inductor, Through Hole Inductors, SMD, Film Inductors); Inductor Type (Fixed, Variable Inductor); Application (Healthcare, Military & Aerospace, Telecommunication, Automotive, Consumer Electronics) - SWOT Analysis, Competitive Strategic Insights, Regional Trends 2025-2037

Growth Drivers

• Escalating sales of electric vehicles - The electronic control unit (ECU) system in an electric vehicle consists of DC-DC converters to regulate the battery’s voltage at ideal levels. These converters regulate the voltage for distributing power to different vehicle components. Inductors are used in the DC converters to maintain a stable voltage output during input voltage fluctuations. Thus, with the shift towards EVs, and hybrid cars over traditional vehicles, the demand for inductors is on the rise. As per the International Energy Agency (IEA) Global EV Outlook 2024, worldwide EV sales grew from 14.0% in 2022 up to 18.0% in 2023.
• Surging renewable energy landscape - The reliance on renewable energy sources has grown as more people recognize the importance of climate change and the finite nature of fossil fuels. Global renewable capacity reached 3,870 gigawatts in 2023, with 86% of capacity increases coming from renewable sources.  Inductors play a crucial role in renewable energy generation systems such as solar, and wind power during energy storage, conversion, and transmission. Therefore, the growing adoption of renewable sources to generate energy is expected to drive inductor market expansion.
• High penetration in the aerospace sector - The aerospace industry heavily relies on advanced electronic systems for communication, navigation, and control. Inductors are a key electronic component used in RF circuits for tuning and signaling. Companies are introducing inductors catering to high-end industrial, military, and aerospace end users. In April 2024, Vanguard Electronics expanded its product line of Common Mode Choke Inductors and launched SCMN4, SCMN6, SCMN7, SCMN9, CMN4, CMN6, CMN7, and CMN9 series.  Inductors are designed to operate in extreme conditions, with frequency ranges from 100KHz to 600KHZ+. This makes them compatible for GaN, SiC, and GaS-based power supplies. 

Challenges

• High production cost - Compared to resistors and capacitors, inductors are costlier and heavier. There is a requirement for precise materials and cutting-edge manufacturing procedures for producing high-quality inductors. As a result, the finished goods become more expensive, which may restrict their accessibility and market share.
• Fluctuating raw material prices - The inductor market growth is significantly constrained by the volatility of raw material prices. Changes in the price of vital components including ferrite and copper affect the profitability and cost structure of companies that manufacture inductors. The main component used to make inductors is copper, and the price of this material has fluctuated significantly over time due to a variety of factors, including supply chain disruptions, geopolitical tensions, and shifting demand from other industries - electronics, and construction. Therefore, geopolitical tensions, disruptions in the supply chain, and changes in global demand are some of the factors that affect these fluctuations.