Electronic Components Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Electronic Components Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Electronic Components Market

The electronic components market size was valued at USD 363.93 billion in 2023, and the market is now projected to grow from USD 393.63 billion in 2024 to USD 847.88 billion by 2032, exhibiting a CAGR of 10.1% during the forecast period of 2024-2032.

The COVID-19 pandemic greatly impacted the market ecosystem in the component supply chain. Different kinds of providers and industries related to electrical and mechanical services could not function at their full potential as people were not coming out of their homes. Moreover, the pandemic spread over a wide area led to a lack of developing electronic elements. This led to the decline in electronic components market growth.

Contemporary advancements in industrial domains have led to rapid developments in the use of Internet of Things in industries and smart objects that connect household gadgets and factories to improve live data streaming. Technologies that are improving such as secure communication protocols and low consumption microcontrollers are creating increasing opportunities in electronics production. Moreover, the fact that IoT is expanding non-stop adds new opportunities for these elements as the material demand for sensors, wireless communication modules, microcontrollers, and other additional components for connectivity, control, and data acquisition increases. These factors are anticipated to drive the electronic components market share.

The extent of miniaturization is changing the technology industry by enabling the production of smaller components for various technologies. Mobile computers and medical microchips are forming the new workplace. The market players concentrate on the development and production of nanotechnological components for small portable elements of electronics that can be implemented in products with progressive functions and at the same time decrease the general ecological footprint. Moreover, miniaturization ensures that space inside the product is maintained and at the same time allows for additional features that would be otherwise not possible with the same form factor.

Comprehensive Analysis of Electronic Components Market

The electronic components market and semiconductor & electronics industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the semiconductor & electronics industry. These segmentations are methodically segregated By Type Analysis and By Industry Analysis. By the type segment the market is divided into active components, passive components and electromechanical components. Among all the segments active component is expected to have the highest market share throughout the forecast period owing to the rising application of active properties in different sectors such as automobile sector, consumer electronics, communication, industrial automation, and other sectors. Depending on the sector, the market is categorized into telecommunication, automotive, industrial machinery, consumer goods, healthcare, and others. Automotive has the largest market share. The growth is attributed to the take up of driver assistance systems. Electronics content in the EV is another factor created by the increasing safety systems and other electronics in the independent growth of cars driven on the road.

Asia Pacific holds the highest share of the electronic components market and is expected to grow at the highest CAGR in the forecast period. This is because the region provides easy access to raw materials, with the production and labor costs in the region being relatively lower. Further, the demand for consumer electronics is comparatively high in the regions, especially in China, India, Japan, and Taiwan. Additionally, countries within this region have also experienced a steep rise in computer demand, driven by the gains of intelligent appliances, innovative high-end products, and new smartphones.

The top players in the market play a crucial role in the semiconductor & electronics industry assuring industrial prospectus growth and setting market standards. These players include, TDK Corporation (Japan), KYOCERA AVX Components Corporation (U.S.), Murata Manufacturing Co., Ltd. (Japan), Panasonic Corporation (Japan), Amphenol Corporation (U.S.), Littelfuse, Inc. (U.S.), TE Connectivity (Switzerland), Vishay Intertechnology, Inc. (U.S.), Analog Devices Inc. (U.S.), and SAMSUNG ELECTRO-MECHANICS (South Korea).

In November 2023, Murata Manufacturing Co., Ltd. announced its development and commencement of mass production of GRM188D72A105KE01, a multilayer ceramic capacitor, whose capacitance is 1 µF and has been used in 48V power supply lines in servers, base stations, and data centers. Thanks to this new technology of Murata's proprietary, this product had become over 67% less in volume and 49% less in area than the 2012M size multidimensional ceramic capacitors, such as GRM21BC72A105KE01, that were released in 2012.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 10.1% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Type

Active Component

Diodes

Transistors

Integrated Circuit (IC)

Others (Emitters and Vaccum Tubes)

Passive Component

Resistor

Capacitor

Inductors

Others (Detectors and Antennas)

Electromechanical Component

Motor

Switches

Relays

Others (Terminal & Connectors, and Cables)

By Industry

Telecommunication

Automotive

Industrial Machinery

Consumer Electronics

Healthcare

Others (Energy & Utilities, Aerospace & Defense, etc.)

By Region

North America (By Type, Industry, and Country)

U.S. (By Industry)

Canada (By Industry)

Mexico (By Industry)

South America (By Type, Industry, and Country)

Brazil (By Industry)

Argentina (By Industry)

Rest of South America

Europe (By Type, Industry, and Country)

U.K. (By Industry)

Germany (By Industry)

France (By Industry)

Italy (By Industry)

Spain (By Industry)

Russia (By Industry)

Benelux (By Industry)

Nordics (By Industry)

Rest of Europe

Middle East & Africa (By Type, Industry, and Country)

Turkey (By Industry)

Israel (By Industry)

GCC (By Industry)

North Africa (By Industry)

South Africa (By Industry)

Rest of Middle East & Africa

Asia Pacific (By Type, Industry, and Country)

China (By Industry)

India (By Industry)

Japan (By Industry)

South Korea (By Industry)

ASEAN (By Industry)

Oceania (By Industry)

Rest of Asia Pacific


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