Consumer Electronics Growth Accelerates Power Inductor Demand

 

The global power inductor market, valued at US$ 2.3 Bn in 2023, is forecast to reach US$ 4.5 Bn by 2034, growing at a CAGR of 6.0% between 2024 and 2034. Power inductors have become vital components in modern electronic systems—especially those powering electric vehicles (EVs), renewable energy installations, and next-generation consumer electronics.

With increasing focus on digital transformation, 5G adoption, and electrification, power inductors are experiencing robust demand. Their ability to efficiently regulate voltage and manage energy flow in high-current, low-voltage environments positions them as indispensable to emerging technologies and infrastructure upgrades.

 

Market Drivers and Key Growth Areas

1. Rising Use of TLVR Inductors for Server Power Supply Circuits

As 5G, AI, and IoT applications expand, data centers are under pressure to deliver higher performance. In response, advanced Trans-Inductor Voltage Regulator (TLVR) inductors are being adopted in high-current environments exceeding 1,000A. These inductors enhance transient response and reduce system losses—an important benefit as data processing demands soar.

Notably, Abracon launched its ATL-series TLVR inductors in February 2024 to support high-performance computing. Other key players like TDK and Bourns have also expanded their TLVR offerings to serve the evolving requirements of cloud infrastructure, EVs, and AI servers.

2. Accelerating EV Adoption

The global shift toward e-mobility is fueling demand for power inductors. These components are crucial to Electronic Control Units (ECUs) that manage various vehicular functions, including ADAS, infotainment, and motor control.

With the average EV containing dozens of ECUs, the need for reliable, high-current inductors is soaring. Companies like Samsung Electro-Mechanics began mass production of automotive-grade inductors in 2023, while Sumida launched the CDPQ/T150 series for on-board EV chargers in June 2024—underscoring the market’s shift toward high-volume, automotive-specific solutions.

 

Market Segmentation Insights

Shield Type: Shielded Inductors Dominate

The shielded segment accounted for 77% of the market in 2023. Shielded inductors are preferred across various applications due to their enhanced electromagnetic compatibility (EMC), low noise emission, and compact designs.

With industries such as automotive, consumer electronics, and telecom demanding better performance in smaller packages, shielded inductors are proving essential. Innovations like TDK’s PCM120T series, which offers ferrite-encased shielding, exemplify how manufacturers are addressing performance needs for DC/DC converters, EV motors, and more.

Core Material: Metal Alloy Leads for High-Current Applications

Metal alloy inductors captured 30% of the market share in 2023, and this segment is expected to expand at 6.2% CAGR. These inductors are favored for their ability to handle higher saturation currents, better thermal stability, and lower core losses—critical traits for EVs and powertrain systems.

Policy support is accelerating this growth. In 2023, the U.S. Department of Energy allocated $209 million toward EV innovations, promoting the use of metal composite inductors in automotive electronics. Likewise, TDK’s MPX series of metal composite inductors has gained traction for delivering improved energy efficiency in tight spaces.

 

Regional Analysis

Asia Pacific: The Global Leader

Asia Pacific accounted for 57.2% of global market share in 2023, led by countries such as China, Japan, and South Korea. The region’s dominance stems from its strong electronics manufacturing base, rising consumer electronics demand, and thriving automotive sector.

Government initiatives such as China’s "Made in China 2025" and India’s $10 Bn semiconductor incentive scheme are also fostering domestic inductor production. Industry giants like Murata and Sumida continue to invest in Asia to address increasing demand for EV-ready and AI-driven electronics.

Europe: A Major Contributor

Europe contributed approximately US$ 1.3 Bn in 2023 to the power inductor market. With a strong focus on green mobility and smart energy infrastructure, the region presents lucrative opportunities for inductor manufacturers. European automakers are rapidly integrating ADAS, infotainment, and smart energy systems—all of which rely on advanced inductors.

North America: Focus on Energy Efficiency and Innovation

North America remains a significant market due to its technological leadership, mature automotive sector, and investments in renewable energy. The Inflation Reduction Act (2022) allocated $369 billion to clean energy initiatives—supporting innovations in smart grids, EVs, and solar energy systems.

U.S.-based companies like Coilcraft and Vishay are pioneering inductors for high-efficiency automotive and power electronics, reinforcing North America’s market presence.

 

Competitive Landscape

The global power inductor market is highly fragmented, with numerous players competing through innovation, partnerships, and product expansions.

Key companies include:

• Murata Manufacturing Co., Ltd.
• Samsung Electro-Mechanics
• TDK Corporation
• Vishay Intertechnology
• Sumida Corporation
• Coilcraft, Inc.
• Würth Elektronik GmbH & Co. KG
• Panasonic Holdings Corporation

Recent Developments:

• April 2024: Würth Elektronik launched high-temperature molded inductors (WE-MAPI, WE-LHMI) for compact, efficient power supply designs.
• March 2024: Samsung Electro-Mechanics released 38 new compact metal power inductors for automotive applications.
• June 2024: Vishay expanded its IHLE series, offering low-profile inductors optimized for switch mode power supplies and noise suppression.
• January 2024: Murata introduced automotive-grade inductors (DFE2MCPH_JL series) targeting EV safety and powertrain systems.

 

Outlook and Opportunities

Looking ahead, the power inductor market is expected to maintain strong momentum as electrification, energy efficiency, and digital connectivity become global priorities. Key areas of opportunity include:

• EV and autonomous vehicle platforms
• Smart grid and renewable energy systems
• 5G infrastructure and cloud computing
• Next-gen consumer electronics

To stay competitive, manufacturers are focused on miniaturization, thermal management, and cost-effective mass production. Strategic partnerships with OEMs, especially in the automotive and industrial sectors, will be critical to capturing long-term contracts and market share.