Common Mode Chokes Market Size, Share, Growth, and Global Industry Analysis, By Type (SMD Common Mode Choke and Through-Hole Common Mode Choke), By Application (Consumer Electronics, Communication, Household Appliances, Industrial, Automotive and Others), Regional Insights, and Forecast From 2024 To 2032

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COMMON MODE CHOKES MARKET REPORT OVERVIEW

The global common mode chokes market size was valued at USD 0.65 billion in 2023 and is projected to touch USD 0.99 billion by 2032, exhibiting a CAGR of 4.8% during the forecast period. Asia-Pacific holds leading position in common mode chokes market share in 2023.

Common-mode choke is a passive device that consists of two wounds of wire coils on a magnetic core that chokes the signals common to both lines of the device while being low on electric resistance to unique signals to the one or other lines of the device. It is also known as ferrite beads. It is related to round coil wires on the core. A common choke passes through various signals or from the same amplitude signals with opposite polarity. The device can create noise due to unshielded circuits and by switching the components. To avoid any noise disturbance, you can use a common-mode choke, which acts as an electrical filter in blocking the noise of high frequency.

Common mode chokes help block the signals on inputs and outputs of the same level and polarity, such as electromagnetic interference (EMI). These signals are expected to cancel out each other during the configuration. These signals are laminated ferrites or iron cores coupled with capacitors to create filter circuits with a low pass to remove the ripple on bridge rectifiers' output. The disturbance of power supply lines is a significant headache and affects the performance of the device. The disturbance also causes reliability issues which leads to unexpected behavior of the system. The common-mode noises are usually caused due to the large discharge of currents coupled with the long wires. It can be easily visualized by looking at two conductor’s noise signals.

COVID-19 Impact: Demand and Supply Chain Disturbance Hindered the Market Expansion

The global COVID-19 pandemic has been unprecedented and staggering, with common mode chokes experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the common mode chokes market growth and demand returning to pre-pandemic levels once the pandemic is over.

The sudden outbreak of the pandemic caused disruption in demand and supply chain. The manufacturing industries were shut which caused a disturbance in the manufacturing rate. The customer’s demand could not be fulfilled due to the transportation shutdown. The strict regulations and guidelines by the government did not allow any manufacturing or transportation to resume. The semiconductor and electronics industry was shut during the pandemic, which hampered the growth of the market.

LATEST TRENDS

"Rising Demand from The Automotive Industry to Escalate Product Demand"

The demand for ferrite beads is rising due to their wide adoption in the transportation and automotive industry. The adoption of common-mode chokes is expanding due to their use in emergency communication, electronic toll systems, and vehicle-to-everything communication. These devices release a high-frequency noise, managed by the common-mode chokes. These factors are forecasted to propel common mode chokes market growth. 

COMMON MODE CHOKES MARKET SEGMENTATION

• By Type Analysis

By type, the market is segmented into SMD Common Mode Choke and Through-Hole Common Mode Choke.

• By Application Analysis

Based on application, the market is classified into Consumer Electronics, Communication, Household Appliances, Industrial, Automotive, and Others. 

DRIVING FACTORS

"Rapidly Increasing Industrialization to Propel Growth in Market"

The consistently rising industrialization and urbanization are most likely to be the major factors surging growth in the market. The expanding population eventually raises the industrialization rate globally, which is expected to boost growth in the market.  The general population’s desire to have power supply lines without any noise is also anticipated to boost the market growth. The desire to have clear power supply lines is anticipated to propel market growth.

"Advanced Technology Adoption to Boost Market Growth"

The common-mode chokes block low-level frequency energy and act as a low pass filter. The product helps balance the frequency and reduce the noise frequency while configuring. It can be used to choke common stray mode current from using the cable and not interfere with the signal inside the cable. Additionally, the most common use of the product is to filter out RF noise and conducted switch out of the noise produced by power supplies of switched-mode, it is also anticipated to bolster growth in the market. 

RESTRAINING FACTORS

"Inappropriate Product Use and High Cost to Hamper Market Growth"

Inappropriate use of the common mode chokes in the designing system may create issues, which are anticipated to limit the market's growth. The cost of common-mode chokes is higher than Surface Mount Ferrite (SMD) ferrite to distract growth in the market. Moreover, the large size of the product is also anticipated to hinder its adoption. 

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COMMON MODE CHOKES MARKET REGIONAL INSIGHTS

"North America to Dominate Market Due to Steady Adoption of Technology "

North America is forecasted to dominate the global market by early-adopting technology in the region. The rising demand for common-mode chokes in the healthcare industry in diagnostic, patient devices, and medical imaging is estimated to be the major factor driving growth in the market. 

Asia Pacific is expected to show sizeable growth in the global market ascribed to the expanding economies in emerging countries such as India, China, and Japan. Moreover, the rising product adoption in energy management systems is also forecasted to surge common mode chokes market growth. 

KEY INDUSTRY PLAYERS

"Key Players to Emphasize On Product Development to Gain Customers"

Key players are anticipated to invest in research and development of the product to gain more customers in the global market. The major companies also strive to impact the market by launching new products and gaining mergers and collaborations. Companies are also expected to emphasize demand and supply chain by offering a quick supply of the product in the market. These strategies are anticipated to gain higher growth in the market and enhance the company's product portfolio. 

LIST OF TOP COMMON MODE CHOKES COMPANIES

• Murata (Japan)
• TDK (Japan)
• Chilisin (China)
• TAIYO YUDEN (Japan)
• Cyntec (China)
• Sunlord Electronics (China)
• Vishay (U.S.)
• TAI-TECH Advanced Electronic (China)
• Sumida (Japan)
• YAGEO Corporation (China)
• Eaton (Ireland)
• Schaffner (Switzerland)
• Laird Performance Materials (China)
• TABUCHI ELECTRIC (U.S.)
• TAMURA CORPORATION (Japan)
• Hitachi Metals (Japan)
• Coilcraft (U.S.)
• Nippon Chemi-Con Corporation (Japan)
• Bourns (U.S.)
• AVX Corporation (U.S.)

REPORT COVERAGE

The report covers every possible detail of the market. Global market players and their headquarters are mentioned in the report to offer details about the existing competition in the market. The market segmentation is represented in the report to offer details about various segments. The market report analyzes common mode chokes market share, competitive landscape, and other aspects. It has incorporated various factors expected to influence the common mode choke market growth. The section also offers the details of various factors that are expected to impede the market's growth. Market trends, drivers, and restraints are also included in the report.  The report also includes an analysis of regions to explain the dominant region.