According to the latest report by IMARC Group, titled “Passive Electronic Components Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global passive electronic components market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global passive electronic components market 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.
Passive Electronic Components Market Overview :
Passive electronic components are electrical parts that do not generate power and are not capable of power gain. They include resistors, coils, inductors, transformers and capacitors. These components are produced using aluminum electrolytic, plastic films, paper, ceramic and tantalum. They alsoabsorb energy and do not need electrical power to function. They are generally utilized in several electronic devices such as smartphones, home appliances, computers and gaming consoles. Passive electronic components are dependable, economical, easy to design and capable of handling large voltage currents and power without requiring a power supply and amplifying elements. Consequently, these components are extensively used in the aerospace, automotive, medical, telecommunications, defense, energy and data storage industries.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Passive Electronic Components Market Trends and Drivers:
One of the key factors driving the market is the extensive growth in the automotive industry across the globe and the significant usage of these components in specialized and high-performing components such as emergency brake assistance systems and infotainment.
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Additionally, the introduction of wire wound and metal oxide high-power resistors that aid in supervising circuits and diagnosing and testing sensors are propelling the market growth. Furthermore, the rising miniaturization of passive electrical components that can be conveniently used in consumer electronics such as cameras, speakers and smartphones is escalating the product demand.
Other major growth-inducing factors include the extensive product usage in medical devices integrated with sensors to collect patient data, research and development activities, and the launch of various shapes and geometries of inductors.
|Passive Electronic Components Market Report Scope|
|Market size value in 2021||US$ 34.11 Billion|
|Market forecast in 2027||US$ 46.87 Billion|
|Growth Rate||CAGR of 5.10% from 2022 to 2027|
|Base year for estimation||2021|
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.
Eaton Corporation PLC, KOA Corporation, Kyocera Corporation, Murata Manufacturing Co. Ltd., Panasonic Corporation, Samsung Electro-Mechanics Co. Limited., Taiyo Yuden Co. Ltd., 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.