The Passive Electronic Components Market is Anticipated to Witness High Growth Owing to Increase in Demand for Consumer Electronics

The passive electronic components market comprises discrete components like resistors, capacitors, and inductors that are used in various types of consumer electronics like smartphones, laptops, washing machines, and air conditioners. Passive components are crucial circuit elements that do not require external power to function and are used to regulate signal strength, resist current, store charge, block DC flow, and perform other similar functions. They are widely used in portable devices due to their compact size and ability to perform basic circuit operations without an external power source.

The passive electronic components market is estimated to be valued at US$ 34.24 Bn in 2025 and is expected to reach US$ 49.84 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2032.

Key Takeaways

Key players operating in the passive electronic components market are Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments, Inc., Panasonic Corporation, Murata Manufacturing Co. Ltd, Eaton Corporation, TE Connectivity Ltd., Honeywell International Inc., Toshiba Corp., Vishay Intertechnology Inc., YAGEO Corporation, TDK Corporation, KEMET Corporation (Yageo Corporation), AVX Corporation (Kyocera Corp), Lelon Electronics Corporation, and Taiyo Yuden Co. Ltd.

The Passive Electronic Components Market Demand for consumer electronics worldwide is a major opportunity for key players in the passive electronic components market. Rapid urbanization, increasing disposable income, and upgrading to new smartphone models frequently has fueled the demand for consumer electronics.

Key players are focusing on expanding their footprint in emerging economies through partnerships, joint ventures, and acquisitions. For instance, in 2021, Nexperia acquired JAWS for €85 million to expand its global sales footprint and access the Asia Pacific market.

Market Drivers:
- Increase in demand for smartphones, wearable devices, and other consumer electronics is the key driver for the passive electronic components market. By 2025, over 6 billion smartphones are expected to be sold globally.
- Rising adoption of Internet of Things (IoT) devices across various industries which require passive components to function properly is augmenting market growth. It is estimated that over 25 billion IoT devices will be installed globally by 2025.

Market Restraints:
- Price fluctuations of raw materials like silicon, copper, and petroleum-based plastic compounds can increase component prices, restricting market growth.
- Counterfeiting of passive components is another challenge as it reduces profitability of leading brands and manufacturers. It is estimated that over 10% of passive components sold globally are counterfeit.

Segment Analysis
Resistors segment dominates the passive electronic components market currently. Resistors are widely used to regulate voltage or current in any circuit. They are the most basic and fundamental electronic component found in all types of electronic devices. Within resistors, fixed resistors account for the largest share as they are cheaper and widely incorporated in consumer electronics devices. Inductors are the fastest growing segment. They are used in alternating current circuits as they can store magnetic energy. Inductors are predominantly incorporated in switching power supplies which are increasingly present in various electronic devices. Transformers are also gaining traction as they provide voltage conversion in different electronics.

Global Analysis
The Asia Pacific region holds the major share of the global passive electronic components market currently. This is mainly due to the large presence of electronics manufacturing companies as well as component suppliers in countries like China, Taiwan, Japan and South Korea. Various multinational corporations have set up their manufacturing plants in these countries due to availability of cost-effective labor and raw materials. North America is another prominent market driven by the consumer electronics and defense industries in the US. Europe is projected to rise at a notable rate during the forecast period due to expanding automotive production in Germany, UK and other countries. The Middle East & Africa region is anticipated to provide lucrative opportunities for passive component suppliers owing to rising electronics consumption in major economies.

Get This Report in Japanese Language -  世界の受動電子部品市場

Get This Report in Korean Language -글로벌 수동 전자 부품 시장

About Author:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )