An inductor is also known as a coil, choke, or reactor that is a passive two-terminal electrical component. It stores energy in a magnetic field when an electric current passes through it. The use of inductors for varied end-use industrial applications holds importance in driving the market growth.
Inductors deal with current and voltage where it is used for measuring change in current on the basis of voltage applied to it. The current increases when the voltage is laid across the inductor. Inductors react in a different manner to the alternating and direct current, AC and DC.
Inductors are used in different applications ranging from electronics to broad application areas that include noise elimination, voltage stabilization, power electronic equipments and automobile operations among others. According to the need of a specific industry vertical, inductors are available in different sizes and ratings. Also, they are of different types including coupled inductors, multi-layer inductors, molded inductors, power inductors, ceramic core inductors, and chokes. Different applications include their use in tuning circuits, utilization as sensors, inductors are utilized for energy storage in a device, they are utilized in induction motors, used as transformers, utilized as filters, and are also used as ferrite beads. The growing adoption of mobile devices round the world are contributing to surging the inductor market growth. This is mainly due to the fact that inductors in the form of ferrite beads are used in the most popular electronic devices such as laptops, mobile phones, TV tuners, and gaming systems. These are used for minimizing interference and ensuring signal integrity.
There has been a surge in the adoption of mobile devices by the individuals of every age group in order to carry their day-to-day activities. An increasing shift from the basic desktop computers to mobile phones and other portable devices is increasing with time, further providing an impetus in fueling the market growth. Also, the amount spent on mobile internet has increased significantly, this is further attributed to the increasing penetration of mobile devices. The rapidly growing trend is observed among the emerging economies of the world such as China, where with the growing consumer electronics industry, the mobile market has also gone upwards. The rapidly growing AI powered mobile apps that include speech and image recognition, and semantic analysis features are further propelling the market growth along with the growing mobile phone market in the country. However, the onset of the global pandemic has impacted the production of mobile phones and other mobile devices, further putting a strong impact on the market growth amid COVID-19.
Furthermore, with the use of inductors in medical devices, the market is further poised to strengthen with the growing global medical device industry. As per the ITA, U.S. Department of Commerce, the United States is the largest medical device industry worldwide that accounts for holding around 40% in the global total in 2017. It is further predicted by the organization that by the end of 2023, the market is projected to increase to achieve USD208 billion from USD156 billion in 2017.
Source: The International Trade Administration (ITA), Medical Device Market in the United States, in USD Billion
The medical device industry is dependent on the other industries where the country holds a competitive advantage. These comprise microelectronics, telecommunications, instrumentations, and software development. Significant collaborations resulting in recent technological innovations has further bolstered the medical device market growth, further strengthening the inductor market growth in the United States along with the other regions of the world. Additionally, with the growing geriatric population along with the growing number of chronic diseases, the demand for effective medical devices will continue to soar, further putting a positive impact on market growth as well.
Product launches by the companies indicating innovations taking place at significant pace are further contributing to propelling the market growth. In 2019, KEMET Corporation announced the launch of a novel range of SMD metal composite power inductors. The devices in the new product line are capable of developing more efficient DC to DC switching power supplies and other applications related to power that include EMI filtering.
In 2019, TDK Corporation announced the expansion of its line-up of metal core power inductors with the launch of novel SPM-VT series. These are designed specifically for meeting high thermal and current demand of automotive LED headlights. The product features include a wide operating temperature range between -55°C to +155 °C. The current ranges from 4.7 A to 36.6 A. The new components are currently available in three sizes. The inductance range is between 1 µH to 47 µH. The mass production is projected to start from September 2019.
In 2020, Coilcraft Inc. announced the launch of the three power inductors used for automotive and other harsh-environment applications. The high-performance molded power inductors provide operating voltage ratings of 120 volts, that is 50% higher in comparison to standards versions. These also offer low DC resistance and low AC losses for power converter efficiency at high ripple current and high frequencies. The inductors feature a rugged and composite construction that offer magnetic shielding and minimize audible buzzing. XEL401xV series are available in six inductance values ranging from 92 nanohenries to 780 nanohenries, with current rating to 24 A. XEL4020V series are available in 10 values ranging from 0.08 microhenries to 2.2 microhenries. The current ratings to 33.2 A. On the other hand, XEL4030V series are available in 13 values ranging from 0.10 microhenries to 6.8 microhenries, with current ratings to 30 A.
Furthermore, inductors are used for various mission critical defense and aerospace applications. The AE425P JB series of low-profile inductors from the Coilcraft-CPS company is made in accordance with the NASA low outgassing specifications. The power inductors are 1.8 mm high with a footprint of 3.9 mm2. The suspended core construction allows to pass vibration testing and shock testing to 80G and 1000 G. This feature has made it an ideal solution for a variety of mission critical applications in military and aerospace sectors. The use of high temperature materials has allowed the operation to be carried out in ambient temperatures up to 155 °C. For best possible board adhesion, the power inductor features tin-lead termination.
ABOUT THE AUTHOR:
Vibha Saklani is a Market Research Analyst at KSI, working on the estimates and global reports on multiple industries spanning from IoT to food and beverages, with a special knack for healthcare, medical devices, and related markets. With the addition of her formal education in Biotechnology and having a research background, she is able to shed more light on the detailed analysis of the story. To read more articles by her, and for more information regarding multiple global markets, visit www.knowledge-sourcing.com.