New York , March 25, 2024 (GLOBE NEWSWIRE) — The global power inductor market size is poised to grow at a CAGR of over 5.5% from 2024 to 2036. The market is anticipated to garner a revenue of USD 6.4 billion by the end of 2036, up from a revenue of USD 3.2 billion in the year 2023. The major factor to encourage the expansion of the market is the rising demand for electric vehicles. In the year 2022, close to 9 million electric vehicles were sold and in 2023 this sale was expected to grow by about 35%. As a result, the market for power inductors is predicted to observe growth.
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Furthermore, the government in several nations has launched various strict regulations to boost the demand for electric vehicles. For instance, with a focus on encouraging the adoption of the EV rate in…
