Global Passive Electronic Components Market Analysis 2022
The Global Passive Electronic Components Market is expected to reach $53.28 billion by 2028 growing at a CAGR of 6.6% from 2021 to 2028. Passive electronic components are integral parts of electronic devices such as smartphones, computers, gaming consoles, and home appliances. These are considered the backbone of computers, telecommunications, consumer electronics, and many other industries.
Factors such as rising digitalization of various sectors and increasing adoption of internet of things (IoT) devices are driving the growth of the market. However, higher metal price is restraining the growth of the market.
Based on type, the capacitor segment is going to have a lucrative growth during the forecast period due to the increasing demand for various types of capacitors to be fabricated in consumer electronic devices, industrial, and other applications.
The key vendors mentioned are Yageo Corporation, Wurth Elektronik Group, AVX Corporation (Kyocera Corporation), Vishay Intertechnology Inc., TE Connectivity Ltd, Cornell Dubilier Electronics Inc., KEMET Corporation (Yageo Company), Sagami Elec Co. Ltd, Panasonic Corporation, Murata Manufacturing Co. Ltd, Lelon Electronics Corp, Susumu Co. Ltd, Honeywell International Inc., Eaton Corporation, Taiyo Yuden Co. Ltd, Coilcraft Inc, Bourns Inc, TDK Corporation, Arcol UK Limited and WIMA GmbH & Co KG.
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