Electronic Components Market by Type (Passive, Active, Electro mechanic); by Application (Automotive, Communication, Computing Application, Industrial, Others); and by Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2022 to 2027

The global Electronic Components market gathered revenue around USD 165.2 billion in 2021 and market is set to grow USD 266.7 billion by the end of 2027 and is estimated to expand at a modest CAGR of 7.9% during the prediction period 2022 to 2027.

An electronic components is a physical entity in an electronic device that is used to affect the electronic field. Electronic components are categorized into two types i.e. active components and passive components. Active electronic components are used to produce energy in the form of voltage, whereas passive electronic components are used in storing energy in the form of current. Passive components cannot amplify or energize the energy of the signal associated with them, they can only attenuate it, while active components can energize or amplify the signal.

Market Dynamics:

The increasing use of the internet of things and automotive technologies in electronic devices is expected to drive the overall growth of the electronic components market in recent years. In addition to this, an increase in the use of the internet of things in factories, homes, telecommunication, and domestic and industrial electronics are some of the factors that are driving the demand for electronic components. Further, the increasing demand for electronic components by Original Equipment Manufacturers (OEMs) to fit the smaller components to their circuit board assemblies is creating a significant opportunity for the electronic components market during the forecast period.

In addition, the increasing penetration of smartphones & other wearable devices and industrial automation is expected to propel the growth of the electronic components market during the forecast period. For instance, according to secondary sources, in 2021, the number of smartphones subscription across the globe surpasses 6.0 Bn and is expected to grow in the coming years. The countries like China, India, and the U.S. has the highest number of smartphones users.

The report also provides an in-depth analysis of electronic components market dynamics such as drivers, restraints, opportunities, and challenges:

Drivers

• Increasing demand from the electronics industry
• Rising penetration of smartphones
• Increasing growth of the automotive industry
• Adoption of IoT in various industries

Restraints

• The changing global economic, banking, and political outlook

Opportunities

• Increasing adoption of electric vehicles across the globe

Challenges

• Policies such as mammoth tax cuts, increasing tariffs, and others

Report Coverage

Based on the type, the active segment in the electronic components market accounted for the largest market share in 2020 and is expected to remain constant during the forecast period owing to its properties such as capable of electrically controlling and amplifying the flow of electrical current

Based on the type, the electronic components market has been segmented into passive, active, electro mechanic. The active segment in the electronic components market accounted for the largest market share and is expected to remain constant during the forecast period. The growth in the segment is attributed to its properties such as capable of electrically controlling and amplifying the flow of electrical current. Moreover, the rapidly growing demand for consumer electronics devices, such as smartphones and laptops. However, the passive segment in the electronic components market is growing at a constant rate during the forecast period due to increasing digitalization coupled with increased connectivity and mobility demand.

Based on application, the automotive segment in the electronic components market accounted for the largest market share in 2020 and is expected to show its dominance during the forecast period owing to the increasing adoption of electric vehicles across the globe

Based on application, the global electronic components market has been segmented into automotive, communication, computing application, industrial, others. The automotive segment in electronic components market held the largest market share in 2020 and is expected to continue this pattern during the forecast period. The growth in this segment is attributed to the increasing on-roads traffics, increasing passenger vehicles and high adoption of electric vehicles across the globe. However, the electronics industry segment in electronic components market is anticipated to grow at a significant rate during the forecast period due to the high penetration of smartphones across the globe.

Based on region, Asia Pacific is expected to dominate the electronic components market during the forecast period owing to the penetration of smartphones and increasing adoption of electric vehicles

Based on region, the global electronic components market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to dominate the electronic components market during the forecast period. The growth in the region is attributed to the increasing penetration of smartphones as well as the increasing adoption of electric vehicles. For instance, according to the report published by Global System for Mobile Communication (GSMA), in 2020, it is estimated around 2.8 Bn unique mobile subscribers in 2019 and is forecasted to be 3.0 Bn users by 2025 with a CAGR of 1.5%. Moreover, the increasing adoption of IoT in various industries is anticipated to flourish the electronic components market growth in the region. For instance, according to the same source as above, around 5.2 Bn connection of IoT in 2019 and is expected to reach 11.5 Bn by 2025. Thus, proliferating the growth of the electronic components market in the region.

Some of the prominent players in the Electronic Components Market include:

• Vishay Intertechnology, Inc.
• STMicroelectronics
• Texas Instruments Incorporated
• TOSHIBA CORPORATION
• NXP Semiconductors
• Panasonic Corporation
• Renesas Electronics Corporation
• Hitachi, Ltd.
• Infineon Technologies
• Advanced Micro Devices, Inc
• TDK Electronics AG
• Framatome
• KYOCERA Corporation
• Molex, LLC
• AVX Corporation

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

By Type

• Passive
• Active
• Electro mechanic

By Application

• Automotive
• Communication
• Computing Application
• Industrial
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

COVID-19 Impact on the Electronic Components Market Analysis:

The COVID-19 pandemic has negatively impacted various industries such as automotive, oil & gas, retail, and others. This is attributed to the strict lockdown imposed by the government to limit the spread of the COVID-19 pandemic. The electronic components market is completely dependent on the end-use industries such as automotive, healthcare, and others. The spending patterns of end-use industries have come down drastically, resulted in decreased demand from consumer electronics due to the weak economic conditions. However, due to the reopening of economies, the sign of recovery are beginning to appear in the electronics industry owing to the increasing demand for smartphones and other electronic appliances. Thus, the electronic components market gaining traction in the coming years.

A detailed analysis specific to the electronic components market will be provided in the report.

The report also provides an in-depth analysis of key trends in the electronic components market:

• The emerging technologies to increase efficiency while maintaining low cost is the major trend for the growth of the overall market
• The growing demand from end-use industries such as automotive, healthcare, and others

The report also provides an in-depth analysis of recent news developments and investments:

• In May 2021, TDK Corporation introduced a new range of EPCOS power capacitors for DC link applications. These brand new capacitors are accessible for rated voltages of 700 V DC to 2000 V DC and cover a capacitance range of 20 µF to 270 µF.
• In January 2021, Panasonic announced the launch of the EEH-ZK(U) Series Conductive Polymer Hybrid Aluminum SMD Electrolytic Capacitors, which are available together with the benefits of electrolytic capacitors with solid polymer capacitors. Further, it offers high-temperature tolerance and small case sizes.

Key Points Covered in Electronic Components Market Study:

• Growth of Electronic Components in 2022
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Electronic Components and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Electronic Components Consumption Analysis
•  Electronic Components Production Analysis
•  Electronic Components and Management