Power Inductor Industry - Regional Synopsis
APAC Market Forecast
Power inductor market for Asia Pacific region is projected to hold largest share of about 32% during the projected period. Asia Pacific is essential to the growth of the electronics and electrical industries, due to some of the top Asia-Pacific-based manufacturers of inductors. Numerous electronic manufacturing firms in other regions delegate their production to Asian nations with lower labor costs. This is especially noticeable in industries where labor-intensive jobs are in greater demand, such as passive electronic component assembly and testing, and semiconductor assembly. The majority of inductors are produced in Asia Pacific and shipped to different regions due to the region's low labor costs. The need for power is rising dramatically, which makes power management more important and drives up the demand for inductors. By 2023, internet sales will account for 11.0% of the Consumer Electronics market's overall revenue in the Asia Pacific region. In 2024, Asia pacific consumer electronics industry is projected to rise by 2.0% in volume.
North American Market Statistics
Power inductor market in North America region is predicted to hold second largest share of about 26% during the forecast period. There is expected to be a rise in demand for power inductors in North America is because of the increased use of consumer electronics and the digital transition. With advancements in advanced technology for effective voltage regulation, the power inductor market is anticipated to have promising growth.
