Global Through Hole Passive Components Market Thriving as Demand Surges for Reliable Electronic Components
Global Through Hole Passive Components Market
is increasing due to growing demand for reliable and durable electronic components
in various industries, including automotive, telecommunications, and consumer
electronics in the forecast period 2024-2028.
According to TechSci Research report, “Through Hole Passive Components
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast
2018-2028”, The global through-hole passive components market has witnessed
significant growth in recent years, driven by the increasing demand for
electronic devices across various industries. Through-hole passive components
are essential electronic components that are widely used in circuit boards and
play a crucial role in ensuring the smooth functioning of electronic devices.
These components include resistors, capacitors, and inductors, among others. One
of the key factors contributing to the growth of the through-hole passive
components market is the rapid expansion of the consumer electronics industry.
With the rising disposable income and changing lifestyles of consumers, the
demand for smartphones, tablets, and other electronic gadgets has surged.
This has led to an increased need for
through-hole passive components, as they are vital for the proper functioning
of these devices. Moreover, the growing popularity of wearable devices, such as
smartwatches and fitness trackers, has further fueled the demand for
through-hole passive components. Another significant driver of market growth is
the increasing adoption of automation and robotics across various industries.
Automation has become a key focus for industries seeking to enhance
productivity and efficiency. Through-hole passive components are extensively
used in the manufacturing and operation of automated systems, including
industrial robots, assembly lines, and control systems. As a result, the demand
for these components has witnessed a substantial upswing. Furthermore, the
automotive sector has emerged as a major consumer of through-hole passive
components. The automotive industry is undergoing a transformation, with the
integration of advanced technologies such as electric vehicles (EVs), autonomous
driving, and connected cars. These technologies require a wide range of
through-hole passive components to ensure reliable and efficient performance.
From power management systems to infotainment systems, through-hole passive
components are integral to the functioning of modern vehicles.
Geographically, Asia Pacific has emerged as a
dominant region in the through-hole passive components market. The region is
home to several major electronics manufacturing hubs, including China, Japan,
South Korea, and Taiwan. These countries have witnessed significant growth in
the production of electronic devices, thereby driving the demand for
through-hole passive components. Moreover, the presence of a large consumer
base and the increasing penetration of smartphones and other electronic gadgets
have further fueled the market growth in this region. However, the market is
not without its challenges. One of the key challenges faced by through-hole
passive component manufacturers is the increasing competition from surface
mount technology (SMT) components. SMT components offer advantages such as
smaller size, higher component density, and lower manufacturing costs. As a
result, many manufacturers are shifting towards SMT components, which poses a
threat to the through-hole passive components market.
In conclusion, the global through-hole passive
components market is witnessing significant growth, driven by the increasing
demand for electronic devices, the adoption of automation and robotics, and the
transformation of the automotive industry. While the market faces challenges
from SMT components, the growing consumer electronics industry and the
expanding automotive sector are expected to sustain the market's growth in the
coming years. Manufacturers in this market need to adapt to changing industry
trends and focus on innovation to stay competitive in this dynamic landscape.
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The Global Through Hole Passive Components
Market is segmented by Component, Leads Model, Application, and region. Based
on Component, the market is bifurcated into Resistors, Capacitors, Inductors, Diodes, Transducers,
Sensors, and Others. Based on the Leads
Model, the market is bifurcated into Axial Leads, Radial Leads.
Based on Application, the market is bifurcated into Consumer Electronics, IT
& Telecommunication, Automotive, Industrial, Aerospace & Defense,
Healthcare, and Others. Based on region, the market is further bifurcated into
North America, Asia-Pacific, Europe, South America, Middle East & Africa.
Based on Application, the global through-hole passive components market witnessed
significant growth across various application segments. Among these segments,
the consumer electronics sector emerged as the dominant type, and it is
expected to maintain its dominance during the forecast period. The consumer
electronics industry has experienced rapid advancements and innovations,
leading to increased demand for through-hole passive components. These
components play a crucial role in the functioning of electronic devices such as
smartphones, tablets, laptops, and gaming consoles. The growing consumer
preference for technologically advanced and feature-rich electronic devices has
fueled the demand for through-hole passive components in the consumer
electronics sector. Additionally, the increasing adoption of Internet of Things
(IoT) devices and wearable technology has further contributed to the market
growth. The IT and telecommunication sector also witnessed substantial growth
in the through-hole passive components market. With the rising demand for
high-speed data transmission and communication networks, the need for reliable
and efficient passive components has increased. The automotive industry is
another significant application segment that experienced considerable growth in
the market. The integration of advanced electronics and connectivity features
in vehicles has led to a surge in the demand for through-hole passive
components. Furthermore, the industrial, aerospace and defense, healthcare, and
other sectors have also contributed to the market growth, albeit to a lesser
extent. Overall, the consumer electronics sector is expected to maintain its
dominance in the global through-hole passive components market during the
forecast period, driven by technological advancements and increasing consumer
demand for electronic devices.
Based on Component, the global through-hole
passive components market witnessed a dominant performance by the resistors
segment. This segment accounted for a significant share of the market and is
expected to maintain its dominance during the forecast period. Resistors are essential
components in electronic circuits, used to limit current flow, divide voltage,
and adjust signal levels. They find extensive applications in various
industries, including automotive, telecommunications, consumer electronics, and
industrial automation. The increasing demand for electronic devices and the
growing trend of miniaturization in the electronics industry are driving the
demand for resistors. Additionally, the rising adoption of advanced
technologies such as 5G, Internet of Things (IoT), and autonomous vehicles is
further fueling the demand for resistors. Moreover, the increasing focus on
energy efficiency and the growing need for renewable energy sources are also
contributing to the demand for resistors in the global market. With the
continuous advancements in technology and the development of innovative
products, the resistors segment is expected to witness sustained growth in the
coming years. However, it is important to note that other segments such as
capacitors, inductors, diodes, transducers, sensors, and others also play a
significant role in the through-hole passive components market and are expected
to experience growth during the forecast period.
Key market players in the Global Through Hole
Passive Components Market are: -
- Murata Manufacturing Co., Ltd.
- TDK Corporation
- Vishay Intertechnology, Inc.
- Panasonic Corporation
- AVX Corporation
- KEMET Corporation
- Taiyo Yuden Co., Ltd.
- Würth Elektronik GmbH & Co. KG
- Yageo Corporation
- Samsung Electro-Mechanics Co., Ltd.
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“The global through-hole passive components
market was dominated by the Asia Pacific region, and it is expected to maintain
its dominance during the forecast period. The Asia Pacific region has been a
key player in the electronics industry, with countries like China, Japan, South
Korea, and Taiwan being major contributors to the market growth. These
countries have a strong manufacturing base and are known for their expertise in
electronics production. The region's dominance can be attributed to several factors.
Firstly, the increasing demand for consumer electronics, such as smartphones,
tablets, and wearable devices, has been a significant driver for the
through-hole passive components market. The Asia Pacific region is home to a
large consumer base, and the rising disposable income levels have fueled the
demand for these electronic devices. Secondly, the region has witnessed
significant investments in infrastructure development, particularly in sectors
like telecommunications, automotive, and industrial automation. These sectors
heavily rely on through-hole passive components for their operations, further
driving the market growth. Additionally, the presence of major electronic
component manufacturers in the region has contributed to its dominance. These manufacturers
have established strong supply chains and distribution networks, ensuring a
steady supply of through-hole passive components. Furthermore, the region's
favorable government policies and initiatives to promote domestic manufacturing
and technological advancements have further boosted the market growth. Overall,
the Asia Pacific region's dominance in the global through-hole passive
components market in 2022 is expected to continue during the forecast period,
driven by the region's strong manufacturing capabilities, increasing demand for
consumer electronics, infrastructure development, and supportive government
policies.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Through
Hole Passive Components Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Component (Resistors,
Capacitors, Inductors, Diodes, Transducers, Sensors, and Others), By Leads
Model (Axial Leads and Radial Leads), By Application (Consumer Electronics, IT
& Telecommunication, Automotive, Industrial, Aerospace & Defense,
Healthcare, and Others) By Region, and By Competition,” has evaluated the future growth
potential of Global Through Hole Passive Components Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Through Hole Passive Components Market.
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