The latest research study “Passive Electronic Components Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global passive electronic components market size reached a value of US$ 34.11 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 46.87 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
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Passive electronic components are components that do not produce energy, are incapable of power gain, and require no electrical power to operate. They consist of transformers, capacitors, resistors, inductors, and coils and are produced using aluminum electrolytic, paper, tantalum, ceramic and plastic films. They are cost-effective, reliable, easy to design, and can handle large voltage currents and power without requiring a power supply and amplifying elements. As a result, passive electronic components are extensively utilized across aerospace, energy, telecommunications, defense, medical, automotive, and data storage industries.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Passive Electronic Components Market Trends and Drivers:
The market is primarily driven by the expanding automotive industry across the globe. This can be attributed to the increasing demand for electric vehicles (EVs) due to environmental and emission concerns. In addition, the rapid digitalization of several sectors and the surging need for connectivity and mobility represent another major growth-inducing factor.
Moreover, passive electronic components are widely used in specialized and high-performing components, such as infotainment and emergency brake assistance systems. This, coupled with the rising adoption of internet of things (IoT) devices, such as process automation and motion control, is anticipated to propel the market growth. Besides this, various technological advancements, such as the introduction of wire wounds and metal oxide high-power resistors that help to monitor circuits and diagnose and test sensors, are providing a positive thrust to the market growth.
Furthermore, extensive research and development (R&D) activities and the growing popularity of miniaturized passive electrical components that can easily be used in consumer electronics, such as cameras, smartphones, and speakers, are also creating a positive market outlook.
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Global Passive Electronic Components Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Passive Electronic Components Companies:
Eaton Corporation PLC, KOA Corporation, Kyocera Corporation, Murata Manufacturing Co. Ltd., Panasonic Corporation, Samsung Electro-Mechanics Co. Ltd., Taiyo Yuden Co., TDK Corporation, TE Connectivity, TT Electronics Plc, Vishay Intertechnology Inc. and Yageo Corporation.
The report has segmented the market on the basis of region, type and end use industry.
Breakup by Type:
- Ceramic Capacitors
- Tantalum Capacitors
- Aluminum Electrolytic Capacitors
- Paper and Plastic Film Capacitors
- Surface-mounted Chips
Breakup by End Use Industry:
- Aerospace and Defense
- Consumer Electronics
- Information Technology
Market Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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