Passive Electronic Components Market – Growth, Trends, And Forecast (2020 – 2025)
Passive Electronic Components market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
The Passive Electronic Components market is highly competitive and consists of a number of major players: KEMET Corporation, Panasonic Corporation, TDK Corporation, Vishay Intertechnology Inc., Murata Manufacturing Co Ltd., AVX Corporation, Taiyo Yuden Co Ltd., Nichicon Corporation, WIMA GmbH & Co KG, 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.
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Scope of the Report
The Passive Electronic Components Market is expected to register a CAGR of approximately 4.2% during the forecast period (2020 – 2025). The increasing adoption of digitalization and coupled with increased connectivity and mobility demand is further increasing the complexity of electronics. This is accelerating the demand for passive components in the electronics.
Key Market Trends
Automotive Industry Expected to Show Significant Adoption
– The automotive electronics are electronic systems used in road vehicles (ignition, radio, telematics, engine management, and in-car entertainment systems, among others). The automotive market is fast emerging to be the most profitable, with increasing opportunities for product innovation. With the increasing demand for hybrid electric vehicles, the need for passive electronic components is on the rise.
– Furthermore, owing to emission and energy concerns, electric vehicles have gained significant prominence. Even with a minor role of capacitors in micro to mild hybrid cars, energy savings can add up to 15%. In contrast, for more significant functions, such as energy storage systems in electrical trams, trains, and subways, energy savings can add up to 25% of the electricity used. Therefore, these factors are motivating automotive vendors to invest in the market studied.
– In March 2020, KEMET Corporation launched new metal composite power inductors, which are ideal for the growing demands of the automotive market. These new inductors are used in DC to DC switching power supplies, which play an essential role in the growing electrification of modern vehicles.
– Also, resistors are ideal for automotive technicians for diagnosing and testing sensors and monitored circuits. For instance, in March 2020, KOA planned to introduce a new range of wire wound and metal oxide high-power resistors in a ceramic case, which will be dedicatedly used for automotive pre-charge/discharge applications.
Asia-Pacific Expected to Dominate the Market
– The Asia-Pacific region is expected to dominate the market studies in the forecast period, owing to the presence of several market players, such as Panasonic Corporation, TDK Corporation, Murata Manufacturing, and Yageo Corporation, amongst other players in the region.
– Also, several technological advancements, such as the exponential growth of smartphones in the region, coupled with the number of smartphone users in the countries has been growing, which is poised to drive the market studied in this region.
– Further, smart city initiatives in the region have also been on the rise, which contributes to the growth of inductors in the region. Countries in the Asia-Pacific region, such as China, India, Japan, and South Korea, lead such initiatives. Smart City initiatives propel the growth of digitalization, 5G technology, and the deployment of several IoT sensors.
– The regional market players are viewing strategic investments as a lucrative opportunity for growth in the region. For instance, in January 2020, Yageo Corp. plans to invest NTD 10 billion for local investment. According to the company, Taiwan is a hub of the company’s research and development, as well as production. The investment will be aimed at developing high-end items for automotive electronics use and 5G applications.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Passive Electronic Components Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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