Global Passive Components Market Report 2022-2027 Featuring TDK, Panasonic, Eaton,c Vishay Intertechnology, Murata, Kyocera, Taiyo Yuden, Yageo, ROHM, Walsin Technology, KOA, & TE Connectivity
DUBLIN, Jan. 22, 2023 /PRNewswire/ -- The "Global Passive Components Market: Analysis By Type (Capacitors, Resistors And Inductor), By Region Size And Trends With Impact Of COVID-19 And Forecast Up To 2027" report has been added to ResearchAndMarkets.com's offering.
The global passive components market in 2021 was valued at US$35.69 billion. The market value is projected to reach US$49.04 billion by 2027.
The market is expected to grow at a CAGR of 5.44% during the forecast period of 2022-2027, with multilayer ceramic capacitors (MLCCs) being the dominant product and a key growth driver.
Given the rising MLCC usage in various growing sectors and applications (e.g., 5G infrastructure, 5G SP, server/cloud, and automotive), it is expected to project secular growth in demand for overall passive components over the next five years.
Market Segmentation Analysis:
By Type: The report provides the bifurcation of the market into three segments based on the type: capacitors, resistors and inductors. In 2021, capacitors segment held a major share in the market.
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 segment is expected to grow at a significant CAGR in the forthcoming years owing to the growing demand for electronic devices among individuals.
Capacitors By Type: The report provides the bifurcation of the capacitors market into four segments based on the type: Ceramic MLCC, aluminum, tantalum and others. In 2021, Ceramic MLCC segment held a major share in the market. This was being followed by aluminum segment. Ceramic MLCCs are capable of achieving high capacitance and miniaturization in harsh environments.
They can be fitted easily in narrow and unforgiving spaces. The increase in MLCC content per device in various end-applications such as smartphone (from 4G to 5G), PC (from standard to high-end platform), wearables, networking (from 4G to 5G), server (platform upgrade), and automobile (from conventional to EV) would boost the ceramic MLCC market growth in the coming years.
Inductors By Application: The report provides the bifurcation of the inductors market into five segments based on the application: communication, other communication, computing, auto and industrial & others.
In 2021, communication segment held a major share in the market. Growing adoption of 5G smartphones facilitate many emerging technologies such as mobile payments, remote monitoring and controlling and many other technologies. Thus, with growing advancement in communication industry, the demand for inductors in communication field is expected to flourish during forecasted years.
Asia Pacific held the major share in the market, owing to rapid urbanization in the developing markets such as India and China which has surged the demand for passive components in the cities.
Within North America, the US is leading the market, due to rising demand for smart home devices, implementation of Industry 4.0, and rising environmental concerns over limiting carbon emissions. Whereas, in the Europe region, Germany is dominating the market due to growth in automotive sector.
One of the most important factors impacting the global passive components market is consumers' desire for safer and faster-charging devices in consumer and automotive. The adoption of mobile phone with fast charging and automotive fast charging has been witnessing growth opportunity in the high-end passive components sector.
As far as safety is concerned, the product quality requirement for charging is high and usually needs a long validation process. Therefore, passive components with high-end characteristics of voltage, capacity, and reliability is anticipated to witness high demand in the EV charging market.
Furthermore, the market has been growing over the past few years, due to factors such as surging demand for electronic vehicles, increased demand across various segments, rapid urbanization, growing demand for network devices, growing complexity of electronic devices and many other factors.
However, the market has been confronted with some challenges specifically, increasing metal prices impacting the cost of producing components, etc.
The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as the accelerating adoption of 5G smartphones, adoption of IoT devices, smart grid, miniaturization etc. Growing adoption of 5G smartphones facilitate many emerging technologies such as mobile payments, remote monitoring and controlling and many other technologies.
The upcoming 5G services, coupled with a growing need for high-speed internet connectivity among consumers, have raised the demand for 5G devices across the globe. Thus, the significant increase in the demand for 5G devices from numerous verticals such as industrial, automotive, and consumer electronics is expected to boost the adoption of passive components during forecasted years.
Impact Analysis of COVID-19 and Way Forward:
The novel coronavirus pandemic and the resulting lockdowns have negatively impacted numerous manufacturing and service industries by hampering both the supply-side and demand-side supply chains. The passive component's raw materials supply chain is affected by supply disruptions caused by the COVID-19 outbreak.
Proximity to production sites impacted by the pandemic (China and Taiwan) and volatile materials supply showcased that chip resistors are the largest red flag. Asia-Pacific countries, such as Malaysia, faced several closures of passive components production sites due to the rise in the COVID-19 outbreak.
For instance, in June 2021, Bourns Magnetic Components announced the closure of its Malaysia production site, and no shipments will be made from the manufacturing factory due to the complete lockdown.
The passive components market is consolidated, where, TDK Corporation, Panasonic Corporation and Yageo Corporation are major market players. Japanese makers are leaders in many key passive component categories (e.g., MLCC, inductor, and film capacitor).
Some of the strategies among key players in the market for passive components market are mergers, acquisitions, and collaborations. For instance, in 2022, Vishay Intertechnology, Inc. introduced a new series of screw-terminal aluminum electrolytic capacitors that allow designers to pack more energy storage into less space.
Available in 11 case sizes ranging from 35 mm by 60 mm to 90 mm by 220 mm. Whereas, Kyocera Corporation has developed a new thin-film process technology for making unique silicon (Si) substrates for gallium nitride (GaN)-based micro-light sources, including short-cavity lasers and micro-LEDs.
The key players in the global passive components market are:
For more information about this report visit https://www.researchandmarkets.com/r/btoas8
Research and Markets
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