Inductor Market

The global inductor market is expected to witness growth over the next eight years, with a projected increase in market volume and value. After a temporary decrease in consumption in 2022, the market is forecasted to accelerate. The top consuming countries in 2022 were China, Mexico, and India, while the highest production levels were seen in Hong Kong SAR, Germany, and Japan. In terms of imports, China was the major player, while China, Hong Kong SAR, and the United States dominated in export volumes. The average import price and export price of inductors saw fluctuations over the years, with notable growth in some countries. Overall, the global inductor market is set to experience growth in consumption, production, imports, and exports in the upcoming years.

Market Forecast

Driven by increasing demand for inductors worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market volume to 228B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $1,138.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Inductors

After two years of growth, consumption of inductors decreased by -20.1% to 163B units in 2022. Over the period under review, consumption, however, recorded temperate growth. Global consumption peaked at 203B units in 2021, and then shrank rapidly in the following year.

The global inductor market size fell rapidly to $775.7B in 2022, which is down by -24.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted a pronounced increase. Over the period under review, the global market hit record highs at $1,022.7B in 2021, and then reduced dramatically in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (62B units), Mexico (37B units) and India (25B units), together accounting for 77% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by India (with a CAGR of +22.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($360B), Mexico ($317B) and the United States ($13.8B) appeared to be the countries with the highest levels of market value in 2022, with a combined 89% share of the global market. Thailand, India, Hong Kong SAR and Brazil lagged somewhat behind, together accounting for a further 1.3%.

Among the main consuming countries, India, with a CAGR of +21.1%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of inductor per capita consumption was registered in Hong Kong SAR (926 units per person), followed by Mexico (285 units per person), Thailand (80 units per person) and China (44 units per person), while the world average per capita consumption of inductor was estimated at 21 units per person.

In Hong Kong SAR, inductor per capita consumption contracted by an average annual rate of -9.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+16.0% per year) and Thailand (+2.7% per year).

Production

World Production of Inductors

In 2022, production of inductors increased by 58% to 29B units, rising for the third consecutive year after two years of decline. Over the period under review, production enjoyed strong growth. The pace of growth was the most pronounced in 2014 with an increase of 226% against the previous year. Over the period under review, global production attained the maximum volume in 2022 and is expected to retain growth in the immediate term.

In value terms, inductor production dropped modestly to $83B in 2022 estimated in export price. In general, production posted a resilient increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 56% against the previous year. Over the period under review, global production attained the maximum level at $89.2B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Hong Kong SAR (7.4B units), Germany (4.9B units) and Japan (954M units), with a combined 46% share of global production. Hungary, Indonesia, France, Mexico, Spain, the Netherlands, the United States, Nigeria, Malaysia and Turkey lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Hungary (with a CAGR of +33.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Inductors

In 2022, purchases abroad of inductors decreased by -23.6% to 336B units for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, enjoyed a tangible increase. The growth pace was the most rapid in 2018 with an increase of 139% against the previous year. Global imports peaked at 439B units in 2021, and then declined significantly in the following year.

In value terms, inductor imports reduced modestly to $15.7B in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.9% against 2015 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 28% against the previous year. As a result, imports reached the peak of $16.2B, and then shrank slightly in the following year.

Imports By Country

China represented the major importer of inductors in the world, with the volume of imports recording 152B units, which was near 45% of total imports in 2022. It was distantly followed by Hong Kong SAR (80B units), Mexico (38B units), India (25B units) and Singapore (19B units), together committing a 48% share of total imports. The following importers - Brazil (7.7B units) and the United States (6.2B units) - each reached a 4.2% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +22.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest inductor importing markets worldwide were China ($2.9B), Hong Kong SAR ($2B) and the United States ($1B), with a combined 38% share of global imports. Mexico, Singapore, India and Brazil lagged somewhat behind, together comprising a further 12%.

In terms of the main importing countries, India, with a CAGR of +10.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average inductor import price amounted to $47 per thousand units, growing by 27% against the previous year. Over the period under review, the import price saw a modest expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 87% against the previous year. Over the period under review, average import prices hit record highs at $90 per thousand units in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($167 per thousand units), while India ($15 per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Inductors

In 2022, after five years of growth, there was significant decline in shipments abroad of inductors, when their volume decreased by -20.7% to 202B units. Overall, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 128%. The global exports peaked at 254B units in 2021, and then declined remarkably in the following year.

In value terms, inductor exports reduced to $14.4B in 2022. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 31%. As a result, the exports attained the peak of $14.6B, and then dropped in the following year.

Exports By Country

China (90B units) and Hong Kong SAR (80B units) prevails in exports structure, together comprising 84% of total exports. It was distantly followed by Singapore (17B units), mixing up an 8.6% share of total exports. The following exporters - Germany (4.5B units) and the United States (3.3B units) - each resulted at a 3.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +38.0%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($4.2B), Hong Kong SAR ($2.5B) and Germany ($1.1B) appeared to be the countries with the highest levels of exports in 2022, together comprising 54% of global exports.

In terms of the main exporting countries, China, with a CAGR of +6.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average inductor export price stood at $0.1 per unit in 2022, with an increase of 24% against the previous year. In general, the export price, however, showed a slight curtailment. The pace of growth appeared the most rapid in 2013 an increase of 94%. As a result, the export price attained the peak level of $0.2 per unit. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($0.2 per unit), while Singapore (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.1%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform