New York, June 08, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Wire Wound Surface Mount Market” published by Consegic Business Intelligence, the market was worth USD 1,205.27 Million in 2022 and is anticipated to reach over USD 1,667.79 Million by the year 2030, growing at a CAGR of 4.4%.
Wire wound surface mount is defined as an electronic component that is employed to filter or regulate electrical signals in an electronic device. In addition, wire wound surface mounts are small and flat components that are mounted directly onto a printed circuit board (PCB) without the need for through-hole connections. The components are deployed in various applications including transformers, inductors, and resistors, and for the efficient assembly packaging in electronic devices.
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The major driver for the growth of the wire wound surface mount market is the advancements in product design based on flat rectangular helical winding technology that results in lower energy losses. In addition, the components offer high mechanical stability on the printed circuit boards (PCBs) and have the ability to handle and regulate large amounts of current. Moreover, the increasing demand for wire wound surface mount in photovoltaic systems and automotive applications is further driving the growth of the market. For instance, in April 2021, TDK Corporation introduced three new surface mount inductors ERU19, ERU24, and ERU27 based on helical winding technology. The product is widely employed in photovoltaic systems and to supply power in DC-DC converters.
The increasing demand for advanced power electronics systems to control and manage the flow of electrical energy in electric vehicles is expected to create potential opportunities for the growth of the market. Wire wound surface mount components play an essential role in power conversion, filtering, energy storage, and motor control in electric vehicles. However, the presence of alternatives including thin film resistors to provide improved precision and accuracy is hampering the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 1,667.79 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 4.4% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Bourns, Inc., TDK Electronics AG, BI Technologies, Cooper Bussmann, KEMET Corporation, Murata Manufacturing Co., Ltd., NIC Components, TE Connectivity, Vishay Intertechnology, Inc., Panasonic Holdings Corporation |
| By Type | Metal Composite, Ferrite, Iron, and Others |
| By Application | Maximum DC Current<0.1A, Maximum DC Current:0.1A-5A, Maximum DC Current:5A-10A, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Wire Wound Surface Mount Market Growth Drivers:
- The growing demand for energy-efficient devices is driving the growth of the wire wound surface mount market to handle large amounts of current.
- The ability of wire wound surface mount components to offer miniaturization in consumer electronics is accelerating the market growth.
- The increasing adoption of wire wound surface mount components in high-power motor drives, industrial automation, and renewable energy applications is boosting the market growth.
Restraints
- Improper thermal management techniques resulting in overheating of the electronic device is restraining the market growth.
- The presence of alternatives including thin film resistors to provide improved precision and accuracy is hampering the growth of the market.
Opportunities
- The increasing demand for advanced power electronics systems to control and manage the flow of energy in electric vehicles is expected to create potential opportunities for the growth of the market.
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Global Wire Wound Surface Mount Market Segmentation Details:
Based on Type, the ferrite segment contributed the largest shares to the market growth in 2022. The growth is attributed to the excellent magnetic properties offered by ferrite material that is highly effective in suppressing high-frequency noise in electronic circuits. Additionally, ferrite wire wound surface mount components are widely employed in various industries and electronic devices including power supplies, motor drives, filters, sensors, and telecommunications equipment, further driving the growth of the market.
Based on Application, the DC current range of 0.5A-5A holds the maximum share of the market growth in the year 2022. The growth of the market is endorsed by the increasing demand for wire wound surface mount with a DC current range of 0.5A-5A for the handling of moderate to high power levels. Moreover, the components also offer high resistance to heat, humidity, and pressure for the efficient handling of power demands in various electronic devices and systems.
Based on region, North America has been a major contributor to the growth of the wire wound surface mount market. The growth is attributed to the early adoption of advanced technologies and the expanding semiconductor industry. Additionally, the region has several electronics manufacturers who invest in research and development for the production of electronic components, including wire wound surface mount components, further driving the growth of the market.
Recent Developments
- In March 2022, Vishay Intertechnology, Inc. introduced AEC-Q200 charging resistor featuring hybrid wire wound technology. The resistor operates at a temperature range of up to 250 °C along with offering high accuracy and stability.
- In July 2020, Bourns launched the CC453232A Chip Inductor Series wound on a ferrite core to provide low DC resistance and high-rated current. The product offers resistance to mechanical shock and pressure and is widely used in set-top boxes and mobile phones.
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List of Major Global Wire Wound Surface Mount Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new machines. The following are major market players operating in the market environment —
- Bourns, Inc.
- TDK Electronics AG
- BI Technologies
- Cooper Bussmann
- KEMET Corporation
- Murata Manufacturing Co., Ltd.
- NIC Components
- TE Connectivity
- Vishay Intertechnology, Inc.
- Panasonic Holdings Corporation
Global Wire Wound Surface Mount Market Segmentation:
- By Type
- Metal Composite
- Ferrite
- Iron
- Others
- By Application
- Maximum DC Current<0.1A
- Maximum DC Current:0.1A-5A
- Maximum DC Current:5A-10A
- Others
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Key Questions Covered in the Wire Wound Surface Mount Market Report
- What will be the potential market valuation for the wire wound surface mount industry by 2030?
- The market valuation for the wire wound surface mount is expected to be approximately USD 1,667.79 Million by 2030 driven by the increasing adoption of wire wound surface mounts components to handle large amount of power.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the wire wound surface mount market's growth in the coming years?
- Asia Pacific is anticipated to have the largest impact on the wire wound surface mount market during the forecast period owing to the growing consumer electronics industry in Asia Pacific countries including China, South Korea, Japan, and Taiwan.
- Which segment is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- The report consists of segments including type, application, and region. Each segment is projected to have the fastest-growing sub-segment driven by industry trends and drivers. For instance, in the application, wire wound surface mount with a DC current range of 5A-10A is anticipated to witness the fastest CAGR to meet the power demands of advanced power electronics systems, including high-power motor drives, industrial automation, and renewable energy applications.
- What specific segmentation details are covered in the wire wound surface mount market report, and how is the dominating segment impacting the market growth?
- The report consists of segments including type, application, and region. Each segment has a key dominating sub-segment being driven by industry trends and market dynamics. For instance, the type segment has witnessed ferrite material as the dominating segment in the year 2022, driven by the excellent magnetic properties that are highly effective in suppressing high-frequency noise in electronic circuits.
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