Global Passive Component Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

The Global Passive Component Market size was valued at USD 179.9 billion in 2020, and is expected to reach USD 293.0 billion by 2030, registering a CAGR of 5% from 2020 to 2030.Passive components are the major constituents which are together required to build any electrical or electronic circuit. Passive components are the main building blocks of electronic circuits and without them these circuits would either not work at all or become unstable. Passive components do not generate energy, but can store or dissipate it. Passive components can be used either independently or can be connected together within a circuit, either in a series or in a parallel combination to control complex circuits or signals, produce a phase shift to the signal or to provide some form of feedback, but they cannot multiply a signal by more than one, because they have no power gain. Actually, passive components consume power within an electrical or electronic circuit as because they act like attenuators, unlike active elements that generate or provide power to the circuit.
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Market Dynamics and Factors:
The rise of Long Term Evolution (LTE) high-speed communication standards is attributing to the growth of communication equipment that includes industrial communication devices and telecommunication devices. This is fuelling the demand for passive components such as capacitors in the market. The demand for capacitors is rapidly growing in countries such as India, China, and other Asian countries because of the rising demand for consumer electronics like smartphones, smart TVs, and camera flashlights. Capacitors are widely used in smartphones, tablets, laptops, and digital cameras to reduce electric noise in the system. High-capacitance ceramic chip capacitors are also used in gaming consoles, set-top boxes, and home appliances. Furthermore, end-user segments such as smartphones and automotive segments are developing high-performance, small, thin, and compact devices. This is further boosting the demand for miniaturized passive components. However, certain factors like high amount of heat dissipation from the components leads to certain complications in the circuit. This is a major restraining factor for the passive component market.
Market Segmentation:
Global Passive Component Market – By Product
Resistors
Inductors
Capacitors
Others
Global Passive Component Market – By End-Users
Telecom Industry
Consumer Electronics
Industrial Machinery
Automotive Industry
Others
Global Passive Component Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Asia Pacific region is expected to dominate the global passive component market in terms of market share during the forecast period. The rising demand for smart automotive electronic devices, preference for building and home automation, and the increasing focus on R&D has significantly attributed to the passive component market growth in the APAC region. Additionally, the presence of a large number of key players in the region is also positively impacting the market growth in APAC. North America is expected to be the second most dominating market for passive components globally, where the U.S. is the major contributor in the market growth due to the growing telecommunication and IT industry in the region. Asia-Pacific is also anticipated to be the fastest growing market during the forecast period. The development of Asian countries is also alluring major big players to establish their business units in the APAC region.
Competitive Scenario:
The key players operating in the global passive component industry are –
AVX Corp., KEMET Electronics Corp., Murata Manufacturing Co. Ltd., Nichicon Corp., Nippon Chemi-Con Corp., Panasonic Corp., Ryosan Company Ltd., Samsung Electro-Mechanics Co. Ltd., Taiyo Yuden Co. Ltd., and YAGEO Corp.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Passive Component industry, although key threats, opportunities and disruptive technologies that could shape the Global Passive Component Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Passive Component Market most.
The data analysis present in the Global Passive Component Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Passive Component Market business.
The 2021 Annual Global Passive Component Market offers:
100+ charts exploring and analysing the Global Passive Component Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Passive Component Market type
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