Global Passive Electronic Components Market Outlook Analysis
The global passive electronic component market valued at USD 32.77 billion in 2021. It is expected to reach a value of USD 42.82 billion by 2027, registering a CAGR of 4.65% over the forecast period, 2022-2027. The passive electronic component market witnessed significant growth over the past few years, primarily due to the increasing digitalization of various sectors, resulting in the rising adoption of consumer electronics across these sectors and the growing demand for connectivity and mobility. With these advancements, the complexity of electronic products is also increasing. This is accelerating the demand for passive components in the electronics and automotive industries.
The growth of inductors is currently steady, owing to the increasing number of product launches, the developments in the consumer electronics sector, the growing use of inductors in automotive electronics, and the increasing adoption of smart grids. The new trend of connected and smart devices is likely to witness more complex circuitry, leading to an increased demand for inductors in the near future.
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Key Focal Points in the Automotive Industry
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Competitive Context of the Passive Electronic Components Market
The competitive landscape of the Passive Electronic Components Market is fragmented owing to the presence of several market players globally. The market players are making several product developments and innovations to capture the maximum market share.
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List of Key Players in the Passive Electronic Components Market
*List Not Exhaustive
Mordor Intelligence has segmented the Passive Electronic Components Market based on capacitor, inductor, and resistor
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