Passive Electronic Components Market Size, Share, and Industry Analysis, By Component (Capacitors, Inductors, Resistors, and Others (Transformers, Diode)); By Material Type (Ceramics, Metal, Polymer, and Others (Tantalum)); By Application (IT and Telecommunication, Consumer Goods, Manufacturing, Automotive, and Others (Aerospace and Defence)); and Regional Forecast, 2024-2032

Passive electronic components are electrical elements that do not require a power source to operate, unlike active components such as transistors or integrated circuits. These components include resistors, capacitors, inductors, and transformers, and they are used to create or modify electrical signals without adding energy to the system. They are used in almost all electronic circuits and devices, from simple radios to complex computer systems, for functions such as filtering, timing, and signal conditioning. The growth driving factors for passive electronic components include the increasing demand for consumer electronics, the rise of the Internet of Things (IoT) and wearable devices, and the expansion of telecommunication and automotive industries that rely heavily on electronic components.

• According to NHLBI Study, almost one-third of American adults use wearables to track health and fitness and over 80% of those users share their data with doctors.


• In January 2024, Rex Brown and Epiphone released a new signature Thunderbird bass guitar, featuring unique design elements and high-quality components. The bass includes passive electronics, a C-shape profile walnut neck, 9ply neck-through-body mahogany, and Epiphone ProBucker 760 bass pickups, offering a characteristic look and sound for bass enthusiasts.

The COVID-19 pandemic disrupted global supply chains and manufacturing operations, leading to shortages and increased prices for passive electronic components. However, the surge in demand for electronic devices due to remote work and education helped drive the growth of the passive electronic components market during this period. Additionally, the pandemic accelerated the adoption of digital technologies across various industries, further fueling the demand for passive electronic components in emerging applications such as 5G networks, artificial intelligence, and the Internet of Things.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Consolidated SWOT Analysis of Key Players

Segmentation

Analysis By Component

Capacitors, inductors, and resistors are three crucial types of passive electronic components that play vital roles in electronic circuits and devices. Capacitors store electrical energy in an electric field and are used for filtering, bypassing, coupling, and timing circuits, such as power supply filtering, signal coupling in audio circuits, and tuning circuits in radios. Inductors, on the other hand, store energy in a magnetic field created by the flow of current and are employed in filtering, timing, and transforming circuits, finding applications in power supplies, radio frequency circuits, and signal filtering. Resistors resist the flow of electric current and serve functions such as current limiting, voltage division, load resistance, and pullup/pulldown, making them ubiquitous in electronic circuits for biasing transistors, setting gain, and as current sensing elements.

Together, these passive components are indispensable building blocks for conditioning and controlling signals, providing filtering and energy storage in virtually all modern electronics, from smartphones to industrial equipment. This is due to their low cost, reliability, and diverse functionality.

Analysis By Application

Passive electronic components find diverse applications across industries, each with distinct requirements and uses that drive their development and optimization. In the IT and telecommunications sector, capacitors enable high-speed data transmission by decoupling and bypassing noise in digital circuits, while inductors are crucial for radio frequency (RF) circuits in wireless communication systems, and resistors ensure impedance matching, voltage division, and current limiting in telecom equipment and data centers. Consumer goods such as smartphones, laptops, televisions, and home appliances heavily rely on passive components, with capacitors facilitating power supply filtering, audio coupling, and touch screen functionality, inductors integrated into power supplies, wireless charging circuits, and radio receivers, and resistors employed in user interfaces, battery management systems, and sensor networks.

• According to GSMA’s Mobile Economy Report, the contribution of the mobile ecosystem toward  public funding amounted to USD 560 billion in 2023. Additionally, the licensed cellular IoT connections are expected to grow from 3.5 billion in 2023 to 5.8 billion in 2030.

The manufacturing industry utilizes capacitors for motor start-up and power factor correction, inductors in motor drives, welding equipment, and power supplies, and resistors for current sensing, voltage division, and signal conditioning in industrial sensors and controllers to ensure reliable operation and precision. The automotive sector, with its engine control units (ECUs), infotainment systems, and advanced driver-assistance systems (ADAS), depends on capacitors for noise suppression and power conditioning, inductors in ignition systems, fuel injection systems, and electromagnetic interference (EMI) filters, and resistors for voltage division, current limiting, and sensor networks in automotive electronics.

Each industry's specific requirements, such as operating temperatures, size constraints, reliability, and cost considerations, drive the continuous development and optimization of passive components to meet their respective application needs.

Regional Analysis

The global passive electronic components market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. In 2023, a significant share of the market is held by Asia Pacific, due to the presence of numerous major passive electronic component manufacturers and foundries located in countries such as South Korea, Japan, China, and Taiwan. The region's thriving consumer electronics market, driven by the popularity of smart appliances, innovative high-end products, and new smartphones, is a key factor fuelling the demand for inductors.

China, in particular, has established itself as a global leader in the production and sales of consumer electronics, as recognized by the Ministry of Industry and Information Technology. With increasing investments aimed at enhancing production capabilities in the Asia Pacific region, the consumer electronics market is poised for further growth, consequently boosting the demand for inductors in this region.

Distribution of the Global Passive Electronic Components Market, By Region

• North America – 24%


• South America –5%


• Europe – 16%


• Middle East and Africa – 7%


• Asia Pacific – 48%

Key Players Covered

The report provides the profiles of key players such as Panasonic Corporation, TDK Corporation, Murata Manufacturing Co. Ltd., AVX Corporation, Bourns, Inc., Vishay Intertechnology Inc., KEMET Corporation, Samsung Group, Johanson Manufacturing Corporation, Walsin Lihwa Corporation, Eaton Corporation, Delta Electronics Inc. and Taiyo Yuden Co. Ltd.

Key Industry Developments

• November 2023: ROHM developed the BTD1RVFL series, which became the industry's smallest silicon capacitors for smartphones and compact devices. These capacitors, utilizing silicon semiconductor technology, offered higher performance in a smaller size, meeting the demand for compact components in high-density mounting.


• November 2023: Fukui Murata Manufacturing Co. Ltd, a subsidiary of Murata Manufacturing, revealed their intentions to create a new R&D hub called the "Ceramic Capacitor R&D Center". This center was designed to enhance the company's expertise in developing and producing ceramic capacitors, which are integral to Murata Manufacturing’s primary business.


• June 2023: Abracon expanded its inductor product offerings, doubling the number of options available on its website to over 7,000. This enhancement provided customers with a wide range of inductor products strengthening the company’s position as a provider of frequency control, power, timing, RF, magnetics, and antenna solutions.