DublinAnd January 22, 2023 /PRNewswire/ – File Global Passive Components Market: Analysis by Type (Capacitors, Resistors, and Inductors), by Region Size, Trends with Impact of COVID-19, and Forecast to 2027 The report has been added to ResearchAndMarkets.com an offer.
Global Passive Components Market Evaluated In 2021 35.69 billion US dollars. Market value is expected 49.04 billion US dollars By 2027.
The market is expected to grow at a CAGR of 5.44% over the forecast period 2022-2027, with Multilayer Ceramic Capacitors (MLCCs) being the dominant product and the main growth driver.
Given the high usage of MLCC in various growing sectors and applications (eg, 5G infrastructure, 5G SP, server/cloud, and automotive), significant growth in total passive component demand is expected over the next five years.
Market Segmentation Analysis:
By Type: The report provides market segmentation into three segments based on the type: Capacitors, Resistors, and Inductors. In 2021, the capacitor segment has a significant market share.
The future of the capacitor market looks promising with opportunities in the computer, telecom, consumer electronics, automotive and industrial sectors. On the other hand, the resistors sector is expected to grow at a significant CAGR in the coming years owing to the growing demand for electronic devices among individuals.
Capacitors by Type: The report presents the capacitors market ramification into four segments based on type: MLCC ceramic, aluminum, tantalum, and others. In 2021, the MLCC ceramics segment has a significant market share. This was followed by the aluminum sector. Ceramic MLCCs are capable of achieving high capacity and miniaturization in harsh environments.
Can be easily installed in tight, unforgiving spaces. The increase in per-device MLCC content in many end applications such as smartphone (from 4G to 5G), PC (from standard platform to high-end platform), wearables, networking (from 4G to 5G), server (system upgrade primary), and automobiles (from conventional cars to electric vehicles) will drive the growth of the MLCC ceramics market in the coming years.
Inductors by Application: The report presents the segmentation of inductors market into five segments based on application: Telecom, Other Communication, Computing, Automotive and Industrial and others.
In 2021, the telecom sector has a significant market share. The increasing adoption of 5G smartphones is facilitating several emerging technologies such as mobile payments, remote monitoring and control, and many others. Hence, with the increasing advancement in the communication industry, the demand for inductors in the field of communication is expected to boom during the forecast years.
Asia Pacific It got the major market share, due to rapid urbanization in developing markets such as India And China This led to a high demand for passive components in cities.
inside North Amarica, the United States leads the market, due to the increasing demand for smart home devices, the implementation of Industry 4.0, and the growing environmental concerns about reducing carbon emissions. while, in Europe Area, Germany The market is dominated by growth in the automotive sector.
One of the most important factors influencing the global passive plug market is consumers’ desire for safer and faster consumer and automotive chargers. Mobile phone adoption with fast charging and fast automotive charging has seen growth opportunities in the evolving passive component segment.
As far as safety is concerned, product quality requirements for shipment are high and usually need a lengthy verification process. Therefore, passive components with advanced characteristics of voltage, capacity and reliability are expected to see high demand in the electric vehicle charging market.
Moreover, the market has been growing over the past few years, owing to factors such as growing demand for electronic vehicles, increasing demand across various segments, rapid urbanization, growing demand for network devices, increasing complexity of electronic devices and many other factors.
However, the market has specifically faced some challenges, such as the increase in metal prices affecting the production cost of components, and so on.
The market is expected to grow at a rapid pace during the forecast period, due to various recent trends such as rapid adoption of 5G smartphones, adoption of IoT devices, smart grid, miniaturization and so on. Such as mobile payments, remote monitoring and control, and many other technologies.
The upcoming 5G services, along with the growing need for high-speed internet connectivity among consumers, has led to an increased demand for 5G devices across the world. Hence, the significant increase in demand for 5G devices from many sectors such as industrial, automotive and consumer electronics is expected to boost the adoption of passive components over the forecast years.
Analyzing the impact of COVID-19 moving forward:
The novel coronavirus pandemic and the resulting lockdowns have negatively affected many manufacturing and service industries by disrupting supply chains on both the supply side and the demand side. The raw material supply chain of the negative component is affected by the supply disruption caused by the COVID-19 outbreak.
Proximity to production sites affected by the epidemic (China And Taiwan) and the volatile matter supply showed that the chip resistors are the biggest red flag. Asia Pacific countries, such as Malaysiafaced several passive component production site closures due to the increased outbreak of COVID-19.
For example, in June 2021Bourns magnetic components company announced the closure of a device Malaysia production site, and no shipments will be made from the factory due to the complete lockdown.
The passive component market has been consolidated, with TDK Corporation, Panasonic Corporation, and Yageo Corporation being major players in the market. Japanese manufacturers are leaders in several major passive component classes (eg, MLCC, inductor, and film capacitor).
Some of the strategies among the major players in the passive components market are mergers, acquisitions, and collaborations. For example, in 2022 Vishay Intertechnology introduced a new series of screw-ended aluminum electrolytic capacitors that allow designers to store more energy in less space.
Available in 11 packs ranging in size from 35mm by 60mm to 90mm by 220mm. Where Kyocera Corporation has developed a new thin-film process technology for making unique silicon (Si) substrates for gallium nitride (GaN)-based microlight sources, including short cavity lasers and micro LEDs.
The demand for electric cars is rising
The increasing demand for network devices
The increasing complexity of electronic devices
Increased demand across various sectors
Consumers’ desire for safer and faster chargers in consumers and cars
The major players in the global passive components market are:
Vishay Intertechnology, Inc.
Murata Manufacturing Co., Ltd
Taiyo Yuden Co., Ltd
Walsin Technology Company
TE Connectivity Ltd.
For more information on this report visit https://www.researchandmarkets.com/r/btoas8
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