Passive Electronic Components Market: Global Industry Analysis and Forecast (2022-2029)

The Passive Electronic Components Market size was US$ 29.17 Billion in 2022 and is expected to grow at a CAGR of 6.03% to an estimated revenue of US$ 43.95 Billion by 2029.

The Passive Electronic Components Market has experienced significant growth in recent years due to the widespread use of electronics in various applications. Passive Electronic Components are essential parts of electronic circuits and include resistors, capacitors, inductors and diodes. The increasing Passive Electronic Component Market Demand for electronic devices like smartphones, laptops and other consumer electronics, has contributed to the growth of this market. The emergence of new technologies, like IoT and 5G, has further propelled the demand for Passive Electronic Components. The Asia Pacific Passive Electronic Components Market is the largest, with China being the major contributor due to the country's strong manufacturing base.

The Passive Electronic Components Industry is currently experiencing a supply shortage due to various factors such as the COVID-19 pandemic, trade restrictions and supply chain disruptions. The pandemic has caused a slowdown in manufacturing operations, resulting in a shortage of raw materials and finished goods. The Passive Electronic Components Trade Restrictions and geopolitical tensions have affected The Passive Electronic Components Supply Chain, causing delays in transportation and delivery of goods. As a result, there has been a surge in the Passive Electronic Components Prices, leading to a challenging situation for manufacturers and end-users. Also, the increasing complexity and miniaturization of electronic devices have led to the demand for high-performance Passive Electronic Components, like high-frequency capacitors and inductors, which are short in supply. The Passive Electronic Components Manufacturers are investing in R&D to develop new materials and technologies to meet the growing demand for high-performance components.


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Passive Electronic Components Market Dynamics
The increasing demand for electronic devices is one of the major Passive Electronic Components Market Drivers of the Passive Electronic Components Market. The proliferation of smartphones, laptops, and other consumer electronics has led to the growth of the market. Additionally, the adoption of new technologies, like IoT and 5G, has driven the demand for Passive Electronic Components in the telecommunications sector. The growth of the automotive industry and the increasing Passive Electronic Components Trend for automation and robotics in various industries are also driving the demand for Passive Electronic Components.

The growth in the demand for high-performance Passive Electronic Components is expected to create Passive Electronic Components Market Opportunities for manufacturers. With the increasing complexity and miniaturization of electronic devices, there is a need for high-performance components such as high-frequency capacitors and inductors. The Passive Electronic Components Manufacturers are investing in R&D to develop new materials and technologies to meet the growing demand for high-performance components. The development of the electric and hybrid vehicle industry is expected to create significant opportunities for passive electronic component manufacturers.

The Passive Electronic Components Market Challenges, including supply chain disruptions, trade restrictions, and the ongoing COVID-19 pandemic. These factors have led to a shortage of components and an increase in prices. The complex and time-consuming process of manufacturing high-performance components such as high-frequency capacitors and inductors is also a restraint on the market. Furthermore, the availability of substitute components and the lack of standardization in the industry are hindering market growth. The Passive Electronic Components Market is facing several threats, including the increasing availability of substitute components. For example, the emergence of MEMS (Micro Electro-Mechanical Systems) and NEMS (Nano Electro-Mechanical Systems) technology is expected to pose a threat to the market as they offer superior performance and are suitable for a wide range of applications. Additionally, the growing trend of outsourcing electronic component manufacturing to low-cost countries is expected to affect the profitability of manufacturers in the market.
Passive Electronic Components Market Segment Analysis
By Type: The Passive Electronic Components Market Segmentation based on type include Capacitors, Resistors, Inductors and Others. Capacitors are expected to hold the largest market share due to their wide usage in various electronic devices, such as smartphones, laptops, and automotive applications. Capacitors are also used in power supply circuits and audio systems. The increasing demand for energy-efficient devices and the growth of the automotive industry are expected to drive the growth of the capacitor segment.

The resistor segment is also expected to witness significant growth due to its usage in various applications such as temperature sensing, noise suppression, and voltage regulation. The inductor segment is expected to grow at a steady rate due to its usage in power electronics and telecommunications applications. The "others" segment includes components such as crystals, filters, and transformers. This segment is expected to witness significant growth due to the increasing demand for high-performance electronic components.

By Material: The Passive Electronic Components Market Segmentation based on material include Ceramic, Aluminium, Tantalum and Others. The ceramic segment is expected to hold the largest market share due to its usage in various applications, such as smartphones, laptops, automotive, and medical devices. Ceramic capacitors are used in power supply circuits and audio systems due to their high frequency and temperature stability. The aluminium segment is also expected to witness significant growth due to its usage in power electronics and automotive applications.

Aluminium electrolytic capacitors are used in power supply circuits due to their high capacitance and voltage ratings. The tantalum segment is expected to grow at a steady rate due to its usage in various applications such as telecommunications and medical devices. Tantalum capacitors are preferred in high-performance applications due to their high stability and low leakage current. The "others" segment includes components such as thin-film, thick-film, and metal film resistors. This segment is expected to witness significant growth due to the increasing demand for high-precision electronic components.

By End-User: The Passive Electronic Components Market Segmentation based on end-user include Consumer Electronics, Automotive, Healthcare, Telecommunications, Aerospace & Defence and Others. The consumer electronics segment is expected to hold the largest market share due to the increasing demand for smartphones, laptops and other electronic devices. The automotive segment is also expected to witness significant growth due to the increasing adoption of electric vehicles and the usage of passive components in various automotive applications like lighting, infotainment systems, and powertrain systems.

The healthcare segment is expected to grow at a steady rate due to the increasing usage of medical devices such as MRI machines, pacemakers, and blood glucose meters, which require passive components. The telecommunications segment is expected to witness significant growth due to the increasing demand for high-speed internet and the deployment of 5G technology. Also, the aerospace and defence segments are expected to grow at a steady rate due to the increasing usage of passive components in various applications such as communication systems, navigation systems, and radar systems. The "others" segment includes industries such as industrial, energy and lighting. This segment is expected to witness significant growth due to the increasing usage of passive components in various applications like power supply circuits, lighting systems and motor control systems.
Passive Electronic Components Market Regional Insights
Asia-Pacific: The market is dominated by the Asia-Pacific Passive Electronic Components Market, currently it holds a share of 50% and is expected to hold the largest market share during the forecast period. The increasing demand for consumer electronics and automotive applications, coupled with the presence of key manufacturers like Murata Manufacturing Co. Ltd. and TDK Corporation, is driving the growth of the market in the region.

North America: North American Passive Electronic Components Market holds the second highest market share at around 25% and is expected to witness significant growth due to the increasing adoption of electric vehicles and the deployment of 5G technology. Europe is also expected to witness significant growth due to the increasing adoption of renewable energy and the deployment of smart grid technology.

Europe: The European Passive Electronic Components Market holds the third highest market share at around 20% and is also expected to witness significant growth due to the increasing adoption of renewable energy and the deployment of smart grid technology.

South America: The South American Passive Electronic Components Market is also expected to witness significant growth due to the increasing demand for consumer electronics and automotive applications.

Middle East & Africa: The Middle East and African Passive Electronic Components Market is expected to grow at a steady rate due to the increasing investments in the construction and infrastructure sectors.
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Passive Electronic Components Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 29.17 Bn.


Forecast Period 2023 to 2029 CAGR:
6.03%
Market Size in 2029:
US$ 43.95 Bn.


 Segments Covered:
by Type
1.Capacitors
2.Resistors
3.Inductors


by Type
1.Ceramic
2.Aluminium
3.Tantalum
4.Others


by End-User
1.Consumer Electronics
2.Automotive
3.Healthcare
4.Telecommunications
5.Aerospace
6.Defence
7.Others



Passive Electronic Components Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Competitive Landscape in Passive Electronic Components Industry
The Passive Electronic Components Industry is highly competitive, with a large number of players operating in the market. The industry players range from large multinational corporations to small and medium-sized enterprises. The market is dominated by a few key players, who hold a significant share of the market, and face competition from a number of regional and local players. The industry has witnessed a number of mergers and acquisitions, as well as strategic partnerships, aimed at strengthening the market position of key players and expanding their product portfolios. For instance, in 2020, Murata Manufacturing Co., Ltd. completed the acquisition of Renesas Electronics Corporation's power semiconductor business, aimed at strengthening its power electronics business. Similarly, in 2019, KEMET Corporation was acquired by Yageo Corporation, creating a global leader in the passive components industry.

The industry players are also focused on product innovation and development, aimed at offering products with enhanced performance and higher reliability. The players invest heavily in research and development activities to develop new and innovative products that cater to the evolving needs of customers. In addition, the players also focus on developing environmentally friendly products that comply with regulatory standards and are safe for use.
Key Players of The Passive Electronic Components Industry
1.Murata Manufacturing Co. Ltd.
2.TDK Corporation
3. Taiyo Yuden Co. Ltd.
4.Panasonic Corporation
5. Samsung Electro-Mechanics
6. Vishay Intertechnology
7. KEMET Corporation
8.AVX Corporation
9.Walsin Technology Corporation
10. Yageo Corporation
11. Nippon Chemi-Con Corporation
12. Nichicon Corporation
13.Rubycon Corporation
14. Rohm Co. Ltd.
15.EPCOS AG
16.Koa Corporation
17. Sumida Corporation
18. Chilisin Electronics Corp.
19.Holy Stone Holdings Co. Ltd.
20.Johanson Technology Inc.
21.CTS Corporation
22.Pulse Electronics Corporation
23. Laird PLC
24. Bourns Inc.
25.Diodes Incorporated

FAQs:

1. What are the growth drivers for the Passive Electronic Components Market?
Ans. The key growth drivers for the Passive Electronic Components Market include the increasing demand for consumer electronics, the adoption of renewable energy, the deployment of smart grid technology, and the increasing adoption of electric vehicles and 5G technology.

2. What is the major restraint for the Passive Electronic Components Market growth?
Ans. he major restraint for the Passive Electronic Components Market growth is the availability of alternative technologies and the increasing use of integrated components in electronic devices. This is leading to a decline in the demand for standalone passive components.

3. Which region is expected to lead the global Passive Electronic Components Market during the forecast period?
Ans. Asia-Pacific is expected to lead the global Passive Electronic Components Market during the forecast period.

4. What is the projected market size & growth rate of the Passive Electronic Components Market?
Ans. The Passive Electronic Components Market size was valued at US$ 29.17 Billion in 2022 and the total revenue is expected to grow at a CAGR of 6.03% from 2022 to 2029, reaching nearly US$ 43.95 Billion.

5. What segments are covered in the Passive Electronic Components Market report?
Ans. The segments covered in the Passive Electronic Components Market report are by Type, Material, End-User and Region.