The global passive component market is poised to grow by USD 11.68 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Passive Component Market 2020-2024 (Graphic: Business Wire).
Read the 120-page report with TOC on “Passive Component Market Analysis Report by Product (Capacitors, Resistors, and Inductors), End-user (Telecom industry, Consumer electronics, Industrial machinery, and Automotive industry), and Geographic segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024.”
The market is driven by the growth in demand for communication equipment. In addition, the advancement of IoT in industries is anticipated to boost the growth of the passive component market.
The growth of LTE high-speed communication standards is leading to the growth of communication equipment, which includes industrial communication devices and telecommunication devices. This is propelling the demand for passive components such as capacitors. Passive components such as small sensors and multilayer ceramic capacitors are extensively used in the automotive industry for powertrain, infotainment, and safety applications. Furthermore, end-user segments such as smartphones and automotive segments are developing high-performance, small, thin, and compact devices. This is propelling the demand for miniaturized passive components. These components are also used in engine control units, telematics, and navigation systems. Thus, the increasing demand for communication equipment is expected to drive market growth during the forecast period.
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Major Five Passive Component Market Companies:
AVX Corp. operates the business under various segments such as Electronic Components and Interconnect, Sensing and Control Devices. The company offers MS Series (MOS) Capacitors and Surface Mount Automotive MLCC. It also provides products such as RF, microwave, and GHz ranges.
KEMET Electronics Corp.
KEMET Electronics Corp. offers products through the following business units: Solid Capacitors, Film and Electrolytic, and Electro Magnetic, Sensors, and Actuators. The company offers Capacitors made of tantalum, aluminum, polymer, and ceramic and chokes for AC and DC current.
Murata Manufacturing Co. Ltd.
Murata Manufacturing Co. Ltd. operates under various business segments, namely C Component segment, Modules segment, and Others. The company offers single layered microchip, ceramic capacitor, silicon capacitor, variable capacitor, and polymer aluminum electrolytic capacitor for industrial purposes.
Nichicon Corp. offers products through the following business segments: Aluminum electrolytic capacitors, Plastic film capacitors, Conductive Polymer Aluminum Solid Electrolytic Capacitors, Functional Modules, and Others. The company offers DC-DC Converter and PCF Series Conductive Polymer Aluminum Solid Electrolytic Capacitors.
Nippon Chemi-Con Corp.
Nippon Chemi-Con Corp. offers products through the following business segments: Capacitor and Others. The company provides Aluminum Electrolytic Capacitors-LHJ series and Aluminum Electrolytic Capacitors-RWU series.
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Passive Component Market Product Outlook (Revenue, USD Billion, 2020-2024)
Passive Component Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Telecom industry
- Consumer electronics
- Industrial machinery
- Automotive industry
Passive Component Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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