Toroidal inductors are electrical components that produce resistance and are utilized for energy storage in the form of a magnetic field. They are categorized as passive electronic components. When the magnetic field fluctuates, inductance is defined as a voltage that resists the field-producing current. The number of loops or turns of copper wire wrapped around the metal, as well as the radius of the copper coil, determine the inductance of the inductor. The toroidal inductor and transformers have the shape and size of doughnuts or bagels and is composed of a coil of wire twisted around an iron core. Toroidal inductors can be used to control current flow in electronic filters, power supply circuits, and radio frequency (RF) circuits.
Toroidal transformers are those that have a donut or spherical core. Ferromagnetic elements such as iron powder, laminated iron, or ferrite make up the core. Wires are wrapped around the shape. The toroidal core produces no acoustic noise, whereas the vibration of the iron laminations produces acoustic noise. Because of its structure, toroidal transformers are significantly more expensive to build than typical lamination core transformers, and wire winding requires skilled labor to manufacture and takes longer time to develop.
Global Toroidal Inductors and Transformers Market - Impact of Coronavirus (Covid-19) Pandemic :
COVID-19 has had a significant impact on all industries, including infrastructure, transportation, oil & gas manufacturing, and other industrial sectors as well. In order to prevent the spread of COVID-19 pandemic, most of the governments across the globe imposed lockdown restrictions, which are now being gradually phased out and industry by industry. Furthermore, the hampered growth of global electronic industry is expected to have adverse impact on the growth of toroidal inductors and transformers market. Additionally, lockdown restrictions and the closure of end-use industries such as automotive, consumer electronics, power generation, etc., have restricted market growth up to certain extent. Price fluctuations in raw materials required for manufacturing of toroidal inductors and transformers due to border restrictions have also hindered the economic growth of this market. The COVID-19 epidemic has slowed business growth and resulted in reduced consumer demand for electrical products.
The COVID-19 pandemic has had a negative influence on supply chain of the target industry, as, manufacturing operations were interrupted due to scarcity of raw materials for toroidal inductors and transformers. However, growth in the electronics sector and increasing demand for power control are expected to drive the market growth of toroidal inductors and transformers in the near future.
Asia Pacific is expected to hold dominant position in the global toroidal inductors and transformers market during the forecast period.
Asia Pacific held dominant position in the global toroidal inductors and transformers market in 2021, accounting for 34.3% share, in terms of value, followed by North America and Europe.
Figure 1: Global Toroidal Inductors and Transformers Market Share (%), By Region, 2021
Among regions, Asia Pacific held dominant position in the global toroidal inductors and transformers market in 2021 and is expected to retain its dominance throughout the forecast period. On the basis of country, in Asia Pacific region, China alone accounted for 43.3 % market share in 2021. Increasing electricity consumption and rising power projects for development of industrial sectors in various economies such as the China, Japan, and India in Asia Pacific region are driving growth of the toroidal inductors and transformer market in Asia Pacific region. For instance, according to a report published by International Monitory Fund (IMF) in 2021, the China, India and Japan are countries with higher growth rate of industrialization.
Toroidal Inductors and Transformers Market Report Coverage
|Base Year:||2021||Market Size in 2021:||US$ 602.3 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||4.5%||2030 Value Projection:||US$ 892.1 Mn|
ABB Ltd., Abracon, AMPLIMO BV, Hammond Manufacturing Ltd., Lintron Electronics Ltd., Cortec Toroidal Power Products, MCI Transformer Corporation, NORATEL, PICO Electronics, Inc., Nuvotem Talema, Plitron Manufacturing Inc., Schuntermann GmbH, Shilchar Technologies Ltd., Standex-Meder Electronics, Inc., Talema Group, LLC, and Triad Magnetics among others
|Restraints & Challenges:||
Growing consumer electronics industry positively influencing growth of the toroidal inductors and transformers market
The rising demand for consumer electronics products such as smartphones, tablets, set-top boxes, laptops, portable gaming consoles, etc. is propelling revenue growth of the toroidal inductors and transformer market. Furthermore, the inductors and transformers are witnessing potential demand from end-use verticals such as industrial, defense, aerospace, and medical sectors.
Figure 2: Global Toroidal Inductors and Transformers Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2021 - 2030
The global toroidal inductors and transformers market was valued at US$ 602.3 Mn in 2021 and is expected to reach US$ 892.1 Mn by 2030 at a CAGR of 4.5% between 2022 and 2030.
Major players operating in the global toroidal inductors and transformers market include ABB Ltd., Abracon, AMPLIMO BV, Hammond Manufacturing Ltd., Lintron Electronics Ltd., Cortec Toroidal Power Products, MCI Transformer Corporation, NORATEL, PICO Electronics, Inc., Nuvotem Talema, Plitron Manufacturing Inc., Schuntermann GmbH, Shilchar Technologies Ltd., Standex-Meder Electronics, Inc., Talema Group, LLC, and Triad Magnetics among others.
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