Passive Electronic Components Market Report, Industry Share & Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Passive Electronic Components Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global passive electronic components market report, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Passive Electronic Components Market?

The global passive electronic components market size reached US$ 36.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.

What are Passive Electronic Components?

Passive electronic components are electrical parts that do not require an external power source to function. These electronic components include resistors, capacitors, inductors, transformers, diodes, and passive filters. They are simple in design and do not have any active components or moving parts. They are cost-effective, highly reliable, and less prone to failure than active components, such as transistors and integrated circuits (ICs). Passive components assist in reducing noise in electronic circuits and filter unwanted signals. They are also easy to integrate into electronic circuits and widely utilized in low-power and battery-powered applications. In addition, they are integrated into numerous communication systems, such as radios, televisions, and cell phones, to filter signals and improve signal quality. As passive components are also customized to meet the specific requirement of the circuit, they are extensively employed in the aerospace and defense, consumer electronics, information and technology (IT), automotive, and industrial applications across the globe. 

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What are the growth prospects and trends in the passive electronic components industry?

Presently, passive electronic components are extensively used in electronic appliances, such as air conditioners, refrigerators, washing machines, fans, and microwaves, to regulate the flow of electricity. They are also employed in various audio equipment, including televisions, radios, and speakers, to filter out unwanted noise and improve signal quality. Additionally, passive electronic components are widely used in medical devices, such as pacemakers, hearing aids, and glucose monitors.

They help store energy, stabilize voltage levels, control signal intensity, and measure various physical parameters, such as temperature, pressure, and flow rate. Besides this, they are also used in imaging equipment, such as X-ray machines and magnetic resonance imaging (MRI) scanners, to filter noise and improve image quality. This, in confluence with the increasing prevalence of cardiovascular disorders and escalating demand for safe, effective, and accurate medical devices, is creating a favorable market outlook and impelling the growth of the market.

Apart from this, the rising environmental concerns and the escalating demand for electric vehicles (EVs) are increasing the usage of passive components, such as power capacitors, inductors, and resistors, in the power electronics and battery management systems of vehicles. Moreover, the increasing adoption of the internet of things (IoT) devices in automotive and manufacturing are driving the demand for passive sensors, filters, and antennas. Furthermore, the increasing automation in numerous industry verticals, inflating disposable incomes, easy accessibility, and increasing affordability of home appliances through various e-commerce websites are some of the other factors stimulating the growth of the market worldwide.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

•   Capacitor

o  Ceramic Capacitors

o  Tantalum Capacitors

o  Aluminum Electrolytic Capacitors

o  Paper and Plastic Film Capacitors

o  Supercapacitors

•   Inductor

o  Power

o  Frequency

•   Resistor

o  Surface-mounted Chips

o  Network

o  Wirewound

o  Film/Oxide/Foil

o  Carbon

 Breakup by End Use Industry:

•   Aerospace and Defense
•  Consumer Electronics
•  Information Technology
•  Automotive
•  Industrial
•  Others

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

Who are the key players operating in the industry?

The report covers the major market players including: 

• Eaton Corporation PLC
• KOA Corporation
• Kyocera Corporation
• Murata Manufacturing Co. Ltd.
• Panasonic Corporation
• Samsung Electro-Mechanics Co. Ltd.
• Taiyo Yuden Co. Ltd.
• TDK Corporation
• TE Connectivity
• TT Electronics Plc
• Vishay Intertechnology Inc.
• Yageo Corporation

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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