Automotive segment to dominate the Saudi Arabia Inductor market till 2026
Surge in the application of the passive electronic components and rise in demand for wireless devices is expected to drive the demand for Saudi Arabia Inductor market in the forecast period.
According to TechSci Research report, “Saudi Arabia Inductor Market By Inductance (Fixed, Variable) By Core Type (Air, Ferrite, Iron) By Shield Type (Shielded, Unshielded) By Mounting Technique (Surface Mount, Through Hole) By Application (General Circuits, Power Applications, High-Frequency Applications) By End User (Automotive, Industrial, Telecom, Military & Defense, Healthcare & Others), By Region, Company Forecast & Opportunities, 2026”, The Saudi Arabia Inductor market is expected to grow at a steady rate in the forecast period. Inductors are a kind of passive electrical component which stores the electrical energy in the magnetic field when the current flows through it. The rising demand for consumer electronics such as smartphones, tablets, laptops, portable gaming units, modems, printers, amongst others is driving the demand for inductors in the region. Inductors are deployed in the power circuitry of various devices and the inductor functions as a storage device in the switch-mode supplies that are used in the computers. Smartphones are in high demand in the region owing to the presence of fingerprint verification to control the manufacturing units or smart homes. A large number of inductors are used for the manufacturing of advanced smartphones which is expected to accelerate the inductor market growth in the forecast period. The high penetration of the internet and the growing disposable income is accelerating the demand for inductors in the next five years. The rapid urbanization of people in search of better job opportunities and quality living standards is expected to influence the market growth owing to the rise in demand for advanced products and technologies. Increase in demand from the prominent industry verticals such as aerospace and defense, industrial and healthcare sector the demand for inductors is expected to witness significant growth. Development of the e-commerce channels and the rise in the number of consumers preferring the online channels due to the presence of easy pick-up and delivery facilities and easy online transaction gateways is expected to increase the purchase of home appliances and premium appliances.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Leading authorities of Saudi Arabia imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Manufacturing units were temporarily closed down or were not able to work at their full capacity and the workers moved back to their native places which led to the shortage of workforce in the manufacturing industries which negatively impacted the market growth. Disruption in the supply chain was observed which adversely impacted the prominent industries including automotive, consumer electronics, transmission & distribution, amongst others. After the government regains control of the pandemic situation, the market is expected to pick up the pace eventually.
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Saudi Arabia Inductor market is segmented into inductance, core type, shield type, mounting technique, application, end user, regional distribution, and company. Based on end user, the market can be divided into automotive, industrial, telecom, military & defense, healthcare & others. The automotive industry is expected to hold a major market share in the forecast period, 2022-2026. The rising demand for automation in automobiles to enhance the consumer experience and provide more comfort is increasing the need to integrate electronic devices in automobiles. Due to the increase in the number of electronic components in automobiles the demand for the inductor market is expected to witness considerable growth in the next five years.
Kemlite Piping Solution, TDK-Lambda EMEA, Panasonic Middle East, AVX Corporation, Delta Electronics, Pulse Electronics, Abracon Corporation, Murata Manufacturing, Avnet, Alfanar, among others are some of the leading players operating in Saudi Arabia Inductor market. Companies operating in the market are using strategies such as joint ventures, product launches, mergers, and research collaborations to boost their share and increase their geographic reach.
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“Market players are investing huge amounts for the technological up-gradation of the existing infrastructure and the miniaturization of consumer electronic devices. The rise in demand for sleek and compact electronic devices occupying less space and reducing the thickness of the device is driving the demand for the inductors. Roll-out of the 5G technology and the growing advancements in the telecommunication network in addition to the growing demand for smart grids is expected to contribute significantly to the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Inductor Market By Inductance (Fixed, Variable) By Core Type (Air, Ferrite, Iron) By Shield Type (Shielded, Unshielded) By Mounting Technique (Surface Mount, Through Hole) By Application (General Circuits, Power Applications, High-Frequency Applications) By End User (Automotive, Industrial, Telecom, Military & Defense, Healthcare & Others), By Region, Company Forecast & Opportunities, 2026”, has evaluated the future growth potential of Saudi Arabia Inductor market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Inductor market.
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