Market Trends of High Frequency Circuit Inductors Industry
Automotive Segment is Expected to Hold Significant Market Share
- The rise in technological innovations and the demand for vehicles with enhanced features are driving growth in the high-frequency circuit inductors market. The increasing emphasis on safety and advanced driver assistance systems contributes to a substantial demand within this market. Consequently, this segment is expected to maintain a significant presence throughout the forecast period.
- As hybrid and electric vehicles (EVs) become more prevalent, they ease environmental pressures and drive the demand for electronic control units (ECUs). This trend is driving a heightened need for electronic components, which are experiencing advancements in miniaturization and performance. Consequently, the expanding market for these vehicles presents additional growth prospects for manufacturers of high-frequency circuit inductors.
- Several automotive players are expanding their manufacturing capacities, which will further fuel the market growth. For instance, in March 2024, Audi unveiled an extensive strategy to enhance its product offerings and expedite the shift toward electric mobility. Based in Ingolstadt, the firm is preparing for a substantial product launch initiative over the next two years, supported by considerable investments throughout a five-year timeframe.
- Consequently, the increasing demand for autonomous vehicles in developing nations is expected to bolster the growth of the high-frequency circuit inductors market. For example, Intel projects that global automobile sales will approach approximately 101.4 million units by 2030, with autonomous vehicles predicted to represent about 12% of car registrations by that year.
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North America is Expected to Grow at a Fastest Growth Rate
- The booming automotive industry in the region is a key driver of the market's expansion. The United States boasts one of the world's largest automotive markets, hosting numerous global vehicle and auto part manufacturers.
- Given the surging demand for vehicles and the US's position as the second-largest manufacturer and a leading exporter, coupled with rising investments, the market in focus is poised to see substantial demand from the US automotive sector. According to the Bureau of Economic Analysis (BEA), in 2023, the automotive industry in the United States sold about 3.12 million cars.
- High-frequency circuits are employed in automobiles for communication purposes both within the vehicle and externally, including applications such as telematics and vehicle-to-everything (V2X) interactions. In recent years, the United States has augmented its investment in intelligent transportation, fostering the growth of numerous EV startups and research and development initiatives within the area, thus supporting market growth.
- The demand for high-frequency circuit inductors in the region is projected to rise due to the increasing popularity of smart consumer electronics, Internet of Things (IoT) devices for smart homes, and ongoing technological advancements and innovations. The expanding utilization of wireless technologies, which is driving the market for smart consumer electronics, is expected to create new market opportunities for the players operating in the market.
- The Consumer Technology Association (CTA) reported that in the United States, the total revenue generated from smart home device sales was projected to reach USD 23.5 billion in 2023, an increase from USD 19.7 billion in 2018. It is expected that the market for smart technology will experience a growing demand for energy-efficient appliances as well as an uptick in the need for high-frequency circuit inductors with various applications.
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