Passive & Interconnecting Electronic Components Market Analysis, COVID-19 Impact,Outlook, Opportunities, Size, Share Forecast and Supply Demand 2021-2027|Trusted Business Insights

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Passive & Interconnecting Electronic Components market.

Trusted Business Insights presents an updated and Latest Study on Passive & Interconnecting Electronic Components Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Passive & Interconnecting Electronic Components market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Report Overview: Passive & Interconnecting Electronic Components Market

The global passive and interconnecting electronic components market size was valued at USD 160.2 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2027. Passive and interconnecting electronic components are integral parts of electronic devices such as smartphones, computers, gaming consoles, and home appliances. Thus, the significantly growing adoption of smartphones and laptops in developing countries such as India and China is estimated to drive the market for passive and interconnecting electronic components over the forecast period 2021-2027.

The 5G network infrastructure is being deployed rapidly across key countries such as the U.S., China, South Korea, Japan, and the U.K. The upcoming 5G services, coupled with a growing need for high-speed internet connectivity among consumers, have raised the demand for 5G devices across the globe. For instance, according to the GVR analysis, the global annual shipment of 5G devices has reached more than 10.0 million units in 2019 and is projected to grow significantly. Thus, the significant increase in the demand for 5G devices from numerous verticals such as industrial, automotive, and consumer electronics is expected to increase the adoption of passive and interconnecting electronic components from 2020 to 2027.

With a significant adoption of internet of things (IoT) devices, the industrial sector is rapidly transforming. The industrial IoT devices help manufacturing facilities to enhance their overall productivity and operational efficiency by providing ease of operability and minimize the total system downtime. Moreover, with the evolution of the fourth industrial revolution (Industrial 4.0), several manufacturing facilities are implementing several connected devices to streamline the operational processes through remote monitoring. Therefore, robust deployment of IoT devices across many industrial applications such as process automation and motion control is anticipated to augment the growth of the market for passive and interconnecting electronic components over the next seven years.

China is one of the key electronic goods exporters across the globe. For instance, China exported more than USD 50.0 billion value of passive electronic components in 2018 to global markets. Moreover, the U.S. is a significant importer of China. However, in 2018, the U.S. imposed around 25.0% import tariffs on electronic products manufactured in China. Additionally, the outbreak of Covid-19 seems to have a negative impact on production and international trades. Thus, the market for passive and interconnecting electronic components is expected to experience a slowdown in the growth from 2020 to 2021.

Component Type Insights: Passive & Interconnecting Electronic Components Market

The capacitor segment held the largest market share exceeding 35.0% in 2019. This is attributable to significant demand for various types of capacitors to be fabricated in consumer electronic devices, industrial, and other applications. Transformers play an essential role in functioning of an electronic device by stepping down the high voltage to the required voltage for the circuit. Therefore, with the growing production of several types of home appliances, industrial digital devices, and other consumer electronic goods, the demand for transformers is projected to see rapid growth during the forecast period.

Interconnecting components include printed circuit boards (PCB), connectors/sockets, switch, relays, and others. In 2019, interconnecting electronic components captured a significant share in the market for passive and interconnecting electronic components and is estimated to witness at a notable growth rate during the forecast period. The growth is attributed to its widespread installation in various electronic devices such as digital cameras, gaming consoles, and others to transmit media, content, and other applications. Moreover, continuing demand for networking and storage devices in data centers is further anticipated to augment the connectors/sockets adoption globally from 2020 to 2027. This, in turn, is anticipated to drive the market for passive and interconnecting electronic components over the forecast period.

Application Insights: Passive & Interconnecting Electronic Components Market

In 2019, the consumer electronics segment held a market share of over 40.0% and is estimated to exhibit a CAGR of 5.2% during the forecast period. The growth is majorly attributed to increasing demand for passive and interconnecting components for several consumer devices, mobile phones, wearable devices, set-top boxes (STB), and home appliances. Moreover, the demand for security cameras, sensor-based devices, and robotics is soaring rapidly across industrial applications such as process automation and remote monitoring. Therefore, it is estimated to boost the passive and interconnecting electronic components market in the next seven years.

The demand for networking devices such as modems, gateways, and repeaters, among others are increasing, especially in office automation and residential application segments. Besides, the deployment for 5G telecom equipment is rapidly emerging as key telecom operators investing heavily in order to provide enhanced bandwidth experience to their customers. Thus, the growing demand for network devices and telecom equipment is expected to surge the IT and telecommunication segment growth in the market for passive and interconnecting electronic components over the forecast period. Furthermore, robust demand for infotainment systems, driver assistance systems, and Global Positioning Systems (GPS), and other electronic systems for automotive applications is anticipated to foster the automotive segment growth from 2020 to 2027.

Regional Insights: Passive & Interconnecting Electronic Components Market

In 2019, Asia Pacific attained a market size of USD 95.1 billion emerging as the dominant region in the entire market for passive and interconnecting electronic components. The growth is majorly driven by the existence of major electronic product manufacturers and exporters in the region. Presence of key consumer electronics manufacturers such as Samsung Electronics Co., Ltd., BBK electronics (Includes brands such as Oppo, Realme, Vivo), Foxconn Technology Group, Xiaomi Corporation is expected to bode well for the regional growth. However, due to the Covid19 outbreak, prominent countries such as China, India, South Korea, and Japan are negatively impacted. The Covid-19 outbreak has affected production and trade (imports and exports) in many countries across the globe.

With the soaring trend for connected cars in the U.S., leading telecom giants such as Verizon Inc.; and AT&T Inc., are investing huge amounts in deploying 5G network infrastructure. This next-generation 5G mobile network is anticipated to provide unified connectivity to vehicles with infrastructures across the country. However, the industrial deployment of 5G is expected to be delayed due to the recent outbreak of Covid-19. Besides, the U.S. government is spending massive amounts on building smart cities countrywide. The deployment of 5G network infrastructure in the coming years is anticipated to increase new installations of telecom equipment and other networking devices, thereby driving the market for passive and interconnecting electronic components.

Key Companies & Market Share Insights: Passive & Interconnecting Electronic Components Market

Key market players are aggressively targeting on developing new and innovative products in order to enhance their overall product portfolios. For instance, in March 2019, AVX Corporation introduced a new series of miniature, surface-mount, and J-lead tantalum capacitors. These capacitors provide improved reliability and volumetric efficiency in high-temperature industrial and automotive applications.

Moreover, leading manufacturers are strategically focused on mergers and acquisitions, which help them to enhance the overall share in the market for passive and interconnecting electronic components. For instance, in November 2019, Yageo Corporation acquired KEMET Corporation worth a value of USD 1.8 billion. This strategy will help Yageo Corporation to expand its geographical presence with KEMET€™s 23 manufacturing facilities and 4,000 employees across North America, Asia Pacific, and Europe. Additionally, the strategy will help to enhance the capacitors segment share of Yageo Corporation as KEMET€™s major products includes ceramic capacitors, tantalum capacitors, magnetic, sensors and actuators, and electrolytic and film capacitors. Some of the prominent players in the passive and interconnecting electronic components market include:

Key Companies Profiled: Passive & Interconnecting Electronic Components Market Report

AVX Corporation
Vishay Intertechnology, Inc.
Mouser Electronics, Inc.
Murata Manufacturing Co., Ltd.
TDK Corporation
Taiyo Yuden Co., Ltd.
Samsung Electro-Mechanics
Hosiden Corporation.
Yageo Corporation
Nichicon Corporation
Panasonic Corporation
Fujitsu Component Limited
Fenghua (HK) Electronics Ltd.
Rohm Co., Ltd.
United Chemi-Con
TE connectivity
Molex Incorporated

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global passive and interconnecting electronic components market report based on component, application, and region:

Component Outlook (Revenue, USD Billion, 2016 – 2027)