Global Passive Electronic Component Market Revenues to Witness USD 42.82 Billion by 2027 – Growing Demand for Smart, Connected & Autonomous

Mordor Intelligence
The demand for inductors is primarily felt in the Asia-Pacific region, with many countries, like Japan, China, South Korea, and Taiwan, hosting massive companies and foundries for several major passive electronic powerhouses. China is the single largest source of demand for inductor components in the current market scenario, owing to its rapidly growing semiconductor industry and automation in the industrial sector.

Global Passive Electronic Components Market Outlook Analysis

The global passive electronic component market valued at USD 32.77 billion in 2021. It is expected to reach a value of USD 42.82 billion by 2027, registering a CAGR of 4.65% over the forecast period, 2022-2027. The passive electronic component market witnessed significant growth over the past few years, primarily due to the increasing digitalization of various sectors, resulting in the rising adoption of consumer electronics across these sectors and the growing demand for connectivity and mobility. With these advancements, the complexity of electronic products is also increasing. This is accelerating the demand for passive components in the electronics and automotive industries.

The growth of inductors is currently steady, owing to the increasing number of product launches, the developments in the consumer electronics sector, the growing use of inductors in automotive electronics, and the increasing adoption of smart grids. The new trend of connected and smart devices is likely to witness more complex circuitry, leading to an increased demand for inductors in the near future.

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Key Focal Points in the Automotive Industry

The increase in hybrids and electric vehicles (EV-type cars) is rapidly reducing the environmental burden and increasing the number of ECUs (electronic control units), thereby leading to stronger demand for electronic components whose miniaturization and further performance improvements have been rising.
The new automotive features and the functionality due to autonomous vehicle technologies, vehicle-to-vehicle (V2V) communications, advanced driver-assistance systems (ADAS), and other safety and sensing systems, like backup cameras and lane-departure detectors, are driving the demand for electronic components in automotive applications.
Electric vehicles, plug-in hybrids, and some other types of motor vehicles deploy electric drive trains. These drive trains are creating a significant demand for electronic components and subsystems.
The Government of China estimates that China’s automobile output is expected to reach 30 million units by 2020 and 35 million units by 2025. This is expected to drive the capacitors’ demand.

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Competitive Context of the Passive Electronic Components Market

The competitive landscape of the Passive Electronic Components Market is fragmented owing to the presence of several market players globally. The market players are making several product developments and innovations to capture the maximum market share.

In May 2022 – Vishay Intertechnology Inc. introduced a new high precision thin film wraparound chip resistor for industrial, military, and aerospace applications. In addition to offering the widest resistance value range in the market, the Vishay Sfernice PEP delivers higher power ratings in smaller case sizes than competing devices, which enables miniaturization and increases reliability by reducing the mechanical stress on solder joints.
April 2022 – TDK Corporation announced a definitive agreement on the establishment of a joint venture between Amperex Technology Limited and Contemporary Amperex Technology Co., Limited. Announcement on Business Alliance and Establishment of Joint Venture with CATL on April 28, 2021.

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List of Key Players in the Passive Electronic Components Market

KEMET Corporation (Yageo Company)
Panasonic Corporation
TDK Corporation
Vishay Intertechnology Inc.
Murata Manufacturing Co. Ltd
AVX Corporation (Kyocera Corporation)
Taiyo Yuden Co. Ltd
Sagami Elec Co. Ltd
Cornell Dubilier Electronics Inc.
Yageo Corporation
Lelon Electronics Corp
United Chemi-Con (Nippon Chemi-con Corporation)
Bourns Inc
Wurth Elektronik Group
API Delevan (Fortive Corporation)
Eaton Corporation
Coilcraft Inc
TT Electronics PLC
KOA Speer Electronics Inc.
TE Connectivity Ltd
Ohmite Manufacturing Company
Susumu Co. Ltd
Arcol UK Limited
Honeywell International Inc.

*List Not Exhaustive

Mordor Intelligence has segmented the Passive Electronic Components Market based on capacitor, inductor, and resistor

Capacitor (Market Size & Forecast based on Revenues (USD Billion), 2020-2027)  
Ceramic Capacitors
Tantalum Capacitors
Aluminum Electrolytic Capacitors
Paper and Plastic Film Capacitors

End-User Industry
Consumer Electronics
Aerospace and Defense
Communications/Servers/Data Storage

Europe, Middle East, and Africa
Asia Pacific (Excl. Japan and Korea)
Japan and Korea

Inductor (Market Size & Forecast based on Revenues (USD Billion), 2020-2027)   

End-User Industry
Consumer Electronics and Computing
Aerospace and Defense
Other End-user Industries     

North America
Asia Pacific
Rest of the World

Resistor (Market Size & Forecast based on Revenues (USD Billion), 2020-2027)    
Surface-mounted Chips

Consumer Electronics and Computing
Aerospace and Defense
Other End-user Industries

North America
Asia Pacific
Rest of the World

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