Albany, NY -- (SBWIRE) -- 11/14/2018 -- A power inductor is an electronic element which receives as well as stores electrical energy by using a magnetic field. A power inductor is used to maintain steady current in an electrical circuit. There are many different categories of power inductors such as high power inductors, power supply inductors, surface mount (SMD) power inductors and high current inductor.

The growing use of power inductors in smartphones, tablets, notebooks, servers, portable gaming devices and GPS products is a primary driver for the market's growth as it provides capacity to withstand large currents and low DC resistance. The rapid growth in penetration of consumer electronics across the world is boosting the power inductor market growth. The development of touchscreens and other advanced features in consumer electronics has increased consumers' interest toward the technology and indulged them to spend on purchasing various products.

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The rising standards of living have further contributed to the increase in the sales of the consumer electronics. Furthermore, continuous R&D activities in the electronics field related to inductors has given rise to weight reduction and enhancements in surface mounting methods are some of the factors that are fueling the demand for power inductors. Power inductors yield lower core losses, hence they are important in various applications where voltage conversion is necessary. The demand for surface mount (SMD) power inductors is increasing in applications where voltage conversion is performed rapidly as they are capable of storing energy with low-loss inductance. Furthermore, manufacturers have not been able to reduce the size of power inductors, hence, the inability to create more compact products with the rising demand and trend of miniaturization may hinder the global power inductor market growth.

Global power inductor market can be segmented into by core type, by end use industry and by geography. In terms of core type, the global power inductor market can be segmented into air core inductors, ceramic core inductors, ferrite core inductors, toroidal core inductors, multi-layer inductors and others (laminated, thin film, bobbin based). Ceramic core inductor segment is anticipated to dominate the global power inductor market throughout the forecast period as ceramic is suitable for high-frequency applications. On the basis of end use industry, the global power inductor market can be segmented into automotive, industrial, consumer electronics, military and defense, others (networking, aerospace, healthcare). With the growing development of connected cars and advanced driver assistance systems (ADAS), the automotive sector is expected to grow at fastest rate over the forecast period. With the rise in automotive electronics, such as telematics, ignition, radio, engine management, and in-car entertainment systems are fueling the growth of power inductor market in automotive industry.

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Also the need for power inductors is on the rise with the increasing demand for hybrid electric vehicles. Consumer electronics segment is also expected to grow significantly over the forecast period owing to the growth in purchase of home appliances and consumers. Geographically, the global power inductor market is segmented into North America, Europe, Asia Pacific, Middle East and South America. Asia Pacific region is anticipated to grow at considerable rate owing to the increasing average disposable incomes and economic growth and in most of the developing countries. Growing popularity of various technologically advanced consumer electronic products is also propelling the growth of Asia Pacific power inductor market.

The global power inductor market includes large number of players. Some of the key players are TDK Corporation, Taiyo Yuden Co., Ltd., Panasonic Corporation, Murata Manufacturing Co., Ltd., Delta Electronics, Inc., Chilisin Electronics Corp., ABC Taiwan Electronics Corporation, Shenzhen Sunlord Electronics Co., Ltd., Pulse Electronics Corporation and AVX Corporation.