Global Common-Mode Chokes Market
Global Common-Mode Chokes Market Size Booming to Cross USD 818 Billion by 2029
Published | 09 August 2023
Global common-mode chokes market is flourishing because of an increasing demand for automotive and transportation applications and a growing number of communications applications.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global common-mode chokes market size at USD 592.36 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global common-mode chokes market size to grow at a CAGR of 5.4% reaching a value of USD 818.67 billion by 2029. Major growth drivers for the global common-mode chokes market include an increasing demand for electromagnetic interference (EMI) suppression solutions across automotive, telecommunications, consumer electronics, and industrial sectors. The demand stems from the rapidly growing number of electronic devices and systems, which are susceptible to EMI interference. Common-mode chokes offer an efficient means of reducing common-mode noise and ensuring reliable operation of electronic circuits. Also, the surge in industrial technological advancements has further propelled the growth of the common-mode chokes market. The automotive and transportation sector witnesses a growing demand for common-mode chokes, while the consumer electronics industry increasingly adopts them. The widespread adoption has spurred the development of common-mode chokes, resulting in market expansion. The demand for common-mode chokes is also driven by the necessity to meet regulatory standards, improve product performance, and enhance overall system reliability in automotive, transportation, telecommunications, and consumer electronics. However, high levels of complexity associated with common-mode chokes and high costs of common-mode chokes are anticipated to restrain the overall market growth during the period in analysis.
Global Common-Mode Chokes Market – Overview
The global common-mode chokes market refers to the industry that encompasses the manufacturing, distribution, and sales of common-mode chokes. Common-mode chokes are electronic components designed to suppress electromagnetic interference (EMI) in electrical circuits. They are used to filter out unwanted common-mode noise that can disrupt the proper functioning of electronic devices. Common-mode chokes consist of coils of wire wound around a magnetic core, which helps attenuate common-mode noise while allowing normal signal transmission. These components find widespread applications in automotive, telecommunications, consumer electronics, industrial automation, and other industries, to ensure reliable and interference-free operation of electronic systems. The market involves the supply and demand dynamics of common-mode chokes, including market size, trends, growth opportunities, and key players in the industry.
Impact of COVID-19 on Global Common-Mode Chokes Market
COVID-19 pandemic had a mixed impact on the global common-mode chokes market. The increased reliance on remote work, online communication, and digital solutions during the pandemic led to a surge in demand for electronic devices and systems, consequently driving the need for common-mode chokes. This had a positive influence on the market. However, the pandemic also disrupted global supply chains, causing delays in manufacturing and distribution of electronic components, including common-mode chokes. Also, economic uncertainties and reduced consumer spending during the pandemic affected the overall market growth. The long-term impact depended on the duration of the pandemic, recovery of industries, and stability in supply chains.
Global Common-Mode Chokes Market – By End User
By end user, the global common-mode chokes market is divided into Industrial, Commercial, Automotive, Consumer Electronics, and Aerospace & Defense segments. The automotive end-user segment is expected to hold the highest market share during the forecast period. The increasing demand for hybrid and electric vehicles (H&EVs) is a significant driver of the common-mode chokes market within the automotive end-use sector. H&EVs incorporate numerous electronic components, which can generate electromagnetic interference (EMI) and potentially impact vehicle performance. Common-mode chokes play a crucial role in reducing EMI noise in DC-DC or AC-AC power electronics systems within the vehicle. Moreover, the rising consumer demand for advanced driver assistance systems (ADAS) is fueling market growth. These systems employ various cameras and sensors to enhance driving safety and convenience. Within these components, common-mode chokes are employed to minimize EMI and enable precise and reliable functioning of sensors and cameras.
Major players operating in the global common-mode chokes market include YAGEO Group, Sumida, Eaton, Coilcraft, TDK Corporation, Schaffner Holding AG, Tamura Corporation, AVX Corporation, Murata Manufacturing Co., Ltd, TT Electronics PLC, Wurth Elektronik GmbH & Co. KG, Littelfuse, Inc, Bourns, Inc., Vishay, and Chilisin. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Common-Mode Chokes Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Common-Mode Chokes Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Common-Mode Chokes Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Type (Signal Line, Data Line, Power Line); By End User (Industrial, Commercial, Automotive, Consumer Electronics, Aerospace & Defense); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: August 2023
A spurring demand for automotive and transportation applications and an increasing number of telecommunication applications are projected to propel the expansion of the global common-mode chokes market during the forecast period between 2023 and 2029.
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