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.
Surging Demand for Electric vehicles
Rising Demand For Network Devices
Growing Complexity of Electronic Devices
Increased Demand Across Various Segments
Consumers’ Desire For Safer And Faster-charging Devices In Consumer And Automotive
Increasing Metal Prices Impacting the Cost of Producing Components
IC Supply Shortage
Accelerating Adoption of 5G Smartphones
Adoption of IoT Devices
The key players in the global passive components market are:
Eaton Corporation plc
Vishay Intertechnology, Inc.
Murata Manufacturing Co., Ltd
Taiyo Yuden Co. Ltd
Walsin Technology Corporation
TE Connectivity Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/btoas8
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/global-passive-components-market-report-2022-2027-featuring-tdk-panasonic-eatonc-vishay-intertechnology-murata-kyocera-taiyo-yuden-yageo-rohm-walsin-technology-koa–te-connectivity-301727234.html
SOURCE Research and Markets
EtherMail is the first Web3 Email Solution setting the standard for anonymous and encrypted wallet-to-wallet communication.
In this article, we will take a look at the 15 biggest natural gas pipeline companies in the world. If you want to see more companies in this selection, go to the 5 Biggest Natural Gas Pipeline Companies in the World. In the past five decades, the consumption of energy globally has increased by over […]
A good day for semiconductors included positive analyst notes and potential consolidation in the NAND industry.
In this article, we discuss 11 most undervalued natural gas stocks to buy according to hedge funds. If you want to see more stocks in this selection, check out 5 Most Undervalued Natural Gas Stocks To Buy According To Hedge Funds. In 2022, the oil and gas industry experienced exceptional financial success, resulting in a […]
Shares of Apple (NASDAQ: AAPL) were moving higher today after two analysts reiterated buy ratings on the FAANG stock with one noting that Apple seems likely to beat its own vague guidance due to the weakening dollar. In a note this morning, UBS analyst David Vogt maintained his buy rating and a price target of $180 on the stock, noting that his earlier decision to lower his estimates on supply chain issues didn't account for the weakening dollar, especially against currencies in Apple's top foreign markets like Europe, the U.K., China, and Japan. On its fiscal fourth-quarter earnings call, Apple had guided for a 10 percentage-point headwind in foreign currency, but Vogt believes the actual headwind will be four to five percentage points less than that.
Nio's American depositary shares also remained up by 8.6%. Much of the negative sentiment over the last week came after sector leader Tesla expanded the vehicle price cuts it previously implemented in China to Europe and the U.S. markets. Many investors felt that Tesla's price cuts could hinder the efforts by Rivian, Lucid, and Nio to continue to ramp production and sales — or at the very least, extend the runways to reach profitability, as these companies have to compete with lower selling prices.
The Oracle of Omaha never saw a future in cryptocurrency.
Barclays has some advice for semiconductor investors today — but I think you should do the opposite.
Several laid-off Google employees took to social media to share their anger and bewilderment about losing their jobs.
Warren Buffett believes in investing for the long term. Holding a stock for the long term allows you to benefit from the company's earnings growth, in some cases dividends, and overall development in its industry. Let's check out two of the best Buffett stocks to buy for the long haul.
Yahoo Finance Live anchors discuss the earnings expectations for tech companies like Microsoft and Tesla.
What can we say about 2023? We’ve just come off a truly challenging year, with a difficult bearish trend pushing stocks down across the board, especially in the tech sector. In this environment, transparency – the ability to see beneath appearances – has grown more important than ever. Cathie Wood, founder of the ARK Invest funds and a long-time booster of technology stocks, describes the current economic conditions as a crisis. According to Wood, we’re in a moment of declining money supply, det
Shares of electric truck maker Nikola (NASDAQ: NKLA) spiked higher Monday morning after the company announced another step forward for its hydrogen fuel-cell electric vehicle (FCEV). The stock had jumped 8% as of 10:30 a.m. ET. Nikola started selling its battery-electric heavy trucks last year, and expects to begin production of its hydrogen FCEV this year.
SoFi Technologies, Inc. (SOFI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
It's a tech-astrophe out there. But you have options.
Meta Platforms, Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $META performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.
Federal prosecutors have seized money from bank accounts and crypto assets belonging to the FTX founder.
Yahoo Finance Live anchors discuss Barclays upgrading its outlook on AMD and Qualcomm.
With a slowdown in online spending, and inflation raising its transportation and fulfillment costs, Amazon is dealing with some painful headwinds in the short-term
Shares of Wayfair soared after a JP Morgan analyst double-upgraded the stock to Overweight and raised its price target by 80%.