Passive Electronic Components Market is Estimated To Witness High Growth Owing To Miniaturization Trends

Mia Yates

Passive Electronic Components Market is Estimated To Witness High Growth Owing To Miniaturization Trends

The Passive Electronic Components Market is estimated to be valued at US$ 36.16 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Passive electronic components are electrical components that do not require a power source to operate and only function due to the presence of an electric or magnetic field. They play a significant role in regulating signals and voltage/current levels in a circuit. Common passive electronic components include resistors, capacitors, inductors, transformers, etc. Passive devices are essential circuit elements required for almost every electronic product being manufactured today.

Market key trends:

One of the key trends driving growth of the passive electronic components market is miniaturization. Owing to the increasing trend of product miniaturization, there is growing demand for smaller passive components with high efficiency. miniaturization of passive components enables their integration into compact circuit board designs and helps in overall space and weight reduction of end-use electronic products. Leading manufacturers are focusing on developing miniature passive components using advanced technologies like thin film technology and 3D packaging. For instance, AVX Corporation offers 0402 and 0201 sized thin film surface mount capacitors, resistors and antennas for use in smart watches, wearables and other miniature electronic devices. The trend towards miniaturization is expected to continue in the forecast period thus augmenting market growth.

Porter’s Analysis

Threat of new entrants: The passive electronic components market requires high investment and technological expertise, which poses high entry barriers for new players.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute components. However, compliance with quality and regulatory standards increases customer commitment to established brands.

Bargaining power of suppliers: A few large players dominates the supply of raw materials like rubber, paper, plastic and metals leading to moderate supplier power.

Threat of new substitutes: Ease of shifting to new technologies presents threat of substitution from emerging components.

Competitive rivalry: Intense competition exists among established players to gain market share through new product developments and advanced manufacturing technologies.

SWOT Analysis

Strengths: Established brands with robust R&D and strong distribution networks. Passive components find usage in diverse applications ensuring stable demand.

Weaknesses: Vulnerability to economic cycles impacting certain end-use industries. Higher costs associated with developing new components.

Opportunities: Growing need for miniaturized components in IoT and wearable devices. Rise of electronics in automotive, industrial and medical sectors.

Threats: Disruptions due to trade wars and political instability. Stringent regulatory frameworks for certifying components quality and safety.

Key Takeaways

The Global Passive Electronic Components Market Size is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing demand for smart appliances and wearable devices. By 2030, the market size is estimated to reach US$ 56.28 Mn.

Regional analysis: Asia Pacific dominates the passive electronic components market, accounting for over 40% of the global demand in 2023. Rapid urbanization and growth of consumer electronics industry in China and India are driving the regional market. North America and Europe are other major markets, whereas, Middle East & Africa and Latin America are expected to offer attractive opportunities over the coming years.

Key players operating in the passive electronic components market includes Honeywell International Inc., KEMET Corporation (Yageo Company), Arcol UK Limited, Panasonic Corporation, Susumu Co. Ltd., TDK Corporation, Ohmite Manufacturing Company, Vishay Intertechnology Inc., TE Connectivity Ltd., Murata Manufacturing Co. Ltd., KOA Speer Electronics Inc., AVX Corporation (Kyocera Corp.), TT Electronics PLC, Taiyo Yuden Co. Ltd., Coilcraft Inc., Sagami Elec Co. Ltd., Eaton Corporation, WIMA GmbH & Co. KG, API Delevan (Fortive Corporation), Cornell Dubilier Electronics Inc., Wurth Elektronik Group, Yageo Corporation, Bourns Inc., Lelon Electronics Corp., and United Chemi-Con (Nippon Chemi- con Corporation).

For More Insights, Read: https://www.newswirestats.com/passive-electronic-components-market-demand-growth-and-regional-outlook-by-2030/

Mia Yates

Passive Electronic Components Market Is Estimated To Witness High Growth Owing To Increasing Demand From Automotive And Consumer Electronics Industries

samruddhicmi12 2023-11-28

The global Passive Electronic Components Market is estimated to be valued at US$ 36. They are used to regulate voltage and current and filter signals in electronic circuits. They are an integral part of electronic circuits found in various devices. Segment Analysis The passive electronic components market is segmented into capacitors, resistors, inductors, and others. Regional analysis: Regionally, Asia Pacific dominated the global passive electronic components market in 2022, and is expected to exhibit highest CAGR over the forecast period.

Passive Electronic Components Market: Growing Demand for Advanced Electronics Drives Market Growth

Gauri Cmi 2023-09-04

The need for passive electronic components arises from their unique advantages such as reliability, durability, miniaturization, improved performance, and cost-effectiveness. With the increasing demand for compact and high-performance electronic devices, the market for passive electronic components is experiencing significant growth. - Bargaining Power of Suppliers: Suppliers of passive electronic components have a moderate bargaining power as they face competition from local and international manufacturers. - Threat of New Substitutes: The threat of substitutes is relatively low in the passive electronic components market due to the industry's specialized nature. In conclusion, the passive electronic components market is projected to witness significant growth in the coming years due to the increasing demand for advanced electronic devices and the trend towards miniaturization.

Passive Electronic Components: Foundation of Modern Electronics

Lucy Kart 2024-02-06

They are broadly divided into two categories - active components and passive components. Active components like transistors need an external energy source to operate, while passive components like resistors function without any external power supply. Major Types of Passive Components Resistors Resistors are the most basic and commonly used passive components. Bipolar junction transistors (BJT) also act as passive components in common emitter mode without a base current driving them. Here are some notable modern trends: Miniatuarization - There is a strong industry drive towards 3D multilayer interdigitated passive components for miniature solutions.

Exploring the World of Resistors, Capacitors, and Inductors: Passive Electronic Components

Larry Paige 2023-06-30

Passive electronic components, including resistors, capacitors, and inductors, form the foundation of modern electronic circuits. They are used for energy storage, filtering, and coupling signals between different parts of a circuit. They are used for energy storage, filtering, and coupling signals between different parts of a circuit. These passive components are essential in a wide range of applications, including power supplies, signal conditioning, filtering, timing circuits, and communication systems. Understanding the properties and characteristics of resistors, capacitors, and inductors is crucial for designing circuits that meet specific performance requirements and achieve desired functionality. They provide engineers with the tools to create complex electronic systems and enable the precise control of electrical signals.

Global Interconnect And Passive Components Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Uday Kiran 2024-04-01

The interconnect and passive components market size is expected to see strong growth in the next few years. The regions covered in interconnect and passive components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. , KYOCERA AVX Components Corporation, TE Connectivity Corporation, TDK Corporation, Molex Incorporated, YAZAKI Corporation, Amphenol Corporation, Murata Manufacturing Co. The interconnect and passive components market report table of contents includes:Executive Summary Interconnect And Passive Components Market Characteristics Interconnect And Passive Components Market Trends And Strategies Interconnect And Passive Components Market - Macro Economic ScenarioGlobal Interconnect And Passive Components Market Size and Growth. Global Interconnect And Passive Components Market Competitive BenchmarkingGlobal Interconnect And Passive Components Market Competitive DashboardKey Mergers And Acquisitions In Interconnect And Passive Components Market Interconnect And Passive Components Market Future Outlook and Potential AnalysisAppendix Top Major Players :Foxconn Electronics Inc.

Passive and Interconnecting Electronic Components Market Anticipated Growing at a CAGR of 5.6% By 2030

Precedence Research 2022-03-17

The global Passive and Interconnecting Electronic Components Market size is predicted to account USD 273. A recent study by Precedence Research on the passive and interconnecting electronic components market offers a forecast for 2022 and 2030. The study analyses crucial trends that are currently determining the growth of the passive and interconnecting electronic components market. The study also provides the dynamics that are responsible for influencing the future status of the passive and interconnecting electronic components market over the forecast period. Contact Us: Precedence Research Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, CanadaCall: +1 9197 992 333Email: sales@precedenceresearch.

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