DUBLIN, Sept. 15, 2023 /PRNewswire/ — The “Passive Electronic Components Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global passive electronic components market showed significant growth in 2022, reaching a total valuation of US$ 36.6 billion. According to this report the market is expected to continue its upward trajectory, with a projected value of US$ 49.3 billion by 2028, reflecting a robust compound annual growth rate (CAGR) of 4.7% during the forecast period from 2023 to 2028.
Passive electronic components encompass a range of electrical parts that do not generate power and do not amplify signals. These components include capacitors, resistors, transformers, inductors, and coils. They are fabricated using materials such as tantalum, ceramic, aluminum electrolytic, paper, and plastic films. Passive electronic components are essential in various electronic devices, including computers, home appliances, smartphones, and gaming consoles.
Known for their reliability, ease of design, cost-effectiveness, and ability to handle large voltage currents and power without additional power supplies or amplification elements, passive electronic components find applications in multiple industries, including medical, automotive, aerospace, energy, telecommunications, defense, and data storage.
Market Trends and Drivers:
- Automotive Industry Growth: The robust expansion of the global automotive industry, driven by increasing demand for specialized components like emergency brake assistance systems and infotainment, is contributing to market growth. The rising popularity of electric vehicles (EVs) due to environmental concerns and emissions reduction is also fueling demand for passive electronic components.
- Innovations in Product Offerings: Continuous innovation, such as the introduction of wire-wound and metal oxide high-power resistors for monitoring circuits, diagnosing issues, and testing sensors, is stimulating market growth.
- Miniaturization in Consumer Electronics: The growing trend of miniaturization in passive electronic components is leading to their integration into consumer electronics like smartphones, cameras, and speakers.
- Medical Device Integration: Passive electronic components are increasingly used in medical devices equipped with sensors for patient data collection, further driving market growth.
- Research and Development: Extensive research and development (R&D) activities and the development of various shapes and geometries of inductors are expected to contribute to market expansion.
Key Market Segmentation:
The global passive electronic components market report by [Publisher Name] provides a detailed analysis of key trends in each sub-segment and offers forecasts at the global, regional, and country levels for the period from 2023 to 2028. The market is segmented based on type and end-use industry.
- Ceramic Capacitors
- Tantalum Capacitors
- Aluminum Electrolytic Capacitors
- Paper and Plastic Film Capacitors
- Surface-mounted Chips
- Aerospace and Defense
- Consumer Electronics
- Information Technology
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report offers a comprehensive analysis of the competitive landscape, featuring key players such as 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., and Yageo Corporation.
Key Questions Answered in This Report:
- What was the size of the global passive electronic components market in 2022?
- What is the expected growth rate of the global passive electronic components market during 2023-2028?
- What are the key factors driving the global passive electronic components market?
- What has been the impact of COVID-19 on the global passive electronic components market?
- What is the breakdown of the global passive electronic components market by type?
- What is the breakdown of the global passive electronic components market by end-use industry?
- Which regions are key markets in the global passive electronic components industry?
- Who are the major players/companies in the global passive electronic components market?
For more information about this report visit https://www.researchandmarkets.com/r/e881rx
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Originally published at https://www.prnewswire.com/news-releases/innovations-and-miniaturization-in-consumer-electronics-drive-growth-global-passive-electronic-components-market-capitalizes-on-emerging-trends-301929171.html
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