PORTLAND, OR, April 12, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled,Chowks Bazaar By Type (Power Inductors, RF Chokes, Common-Mode Chokes, Others), By End-Use (Automotive, Consumer Electronics, Aerospace & Defense, Telecommunications, Industrial Automation, Others): Global Opportunity Analysis and Industry Forecast, 2021-2021. According to the report, the global choke industry generated $1.5 billion in 2021, and is projected to generate $2.6 billion by 2031, showing a CAGR of 5.8% from 2022 to 2031.

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Major determinants of development

Growth in demand for electronics and electrical equipment in various end-use industries such as automotive, aerospace, and telecommunication and increase in power density and frequency in electronic equipment drive the growth of the global choke market. On the other hand, high cost of raw materials, lack of standardization and availability of alternative technologies such as capacitors hampers development to some extent. However, advancements in technology and increase in demand for medical devices are expected to create attractive opportunities in the industry.

Report coverage and details:

Report coverage Details
Forecast period 2022–2031
base year 2021
Market size in 2021 $1.5 billion
Market size in 2031 $2.6 billion
CAGR 5.8%
Number of pages in the report 330
Sections covered Type, end-use, and region
Drivers The demand for electric vehicles has increased

Government initiatives to promote energy efficiency

Increase in demand for consumer electronics

Increase in use of renewable energy

opportunities Advances in technology and increase in demand for medical devices
Restrictions Environmental concerns related to e-waste

Intellectual property issues

The Covid-19 scenario

  • The global chokes market experienced a slowdown during the Covid-19 pandemic due to factors such as manufacturing facility closures and transportation restrictions, which disrupted the supply chain due to shortages of raw materials and components.
  • However, the pandemic also created an increase in demand for electronic devices and infrastructure driven by the growing trend of remote work and education, which in turn increased demand for chokes and other electronic components used in these devices, as well as data centers and communication networks. .
  • As the world recovers from the pandemic, there is a growing emphasis on renewable energy solutions and sustainable infrastructure, which is expected to boost the demand for chokes in the power generation industry.

The common-mode choke segment to maintain its leadership position throughout the forecast period

On the basis of type, the common-mode choke segment holds the largest market share in 2021, accounting for nearly two-fifths of the global choke market revenue, and is projected to maintain its leadership position throughout the forecast period. The increase in demand for energy efficient appliances and rapid industrialization across the world has increased the demand for electricity from renewable energy sources. The increase in demand for renewable energy generation stations has led to the demand for common mode chokes. However, the other segment is expected to witness the fastest CAGR of 6.6% from 2022 to 2031, owing to the increase in the use of portable electronic gadgets across the globe.

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The consumer electronics segment to maintain its leadership position throughout the forecast period

On the basis of end-use, the consumer electronics segment will account for the largest market share in 2021, accounting for nearly one-third of the global choke market, and is projected to maintain its leadership position throughout the forecast period. This is because manufacturers are beginning to develop new technologies and materials to create smaller, lighter, and more efficient chokes to meet increasing demand. However, the aerospace and defense segment is expected to witness the fastest CAGR of 7.4% from 2022 to 2031, owing to increasing demand for air transportation.

By 2031, Asia-Pacific will maintain its dominance

On the basis of region, Asia-Pacific will hold the major market share in 2021, accounting for nearly two-fifths of the global choke market revenue, and is likely to reveal the fastest CAGR of 6.2% during the forecast period. This is because the Asia-Pacific region is one of the fastest growing regions in terms of population, urbanization, and industrialization, which is driving the demand for chokes in various applications. Also, the Asia-Pacific region is home to some of the largest markets for consumer electronics, including China, Japan, and South Korea.

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Major Market Players:-

  • Eaton Corporation
  • Sumida Corporation
  • Delta Electronics, Inc.
  • Panasonic Corporation
  • Rohm Semiconductor
  • Pulse Electronics
  • AVX Corporation
  • Vishay Intertechnology
  • TDK Corporation

The report provides a detailed analysis of these key players in the global choke market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements, and others to increase their market share and maintain dominance in various sectors. The report is valuable in highlighting strategic moves of market players to showcase business performance, operating segments, product portfolios, and competitive landscape.

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Allied Market Research (AMR) is the full-service market research and business-consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unmatched quality to global enterprises as well as medium and small businesses.Market research reports” and “Business Intelligence Solutions.” AMR takes a targeted approach to providing business insights and consulting to help its clients take strategic business decisions and achieve sustainable growth in their respective market domains.

We have professional corporate relationship with various companies and it helps us to dig market data which helps us to generate accurate research data tables and confirms utmost accuracy in our market forecast. Pawan Kumar, CEO of Allied Market Research, has been instrumental in inspiring and motivating everyone associated with the company to maintain high quality of data and help clients achieve success in every possible way. Each and every data presented in the reports published by us is extracted through primary interviews with top executives of leading companies in respective domains. Our secondary data procurement methodology includes in-depth online and offline research and discussions with knowledgeable industry professionals and analysts.

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