The through-hole passive components market is demonstrating strong growth, anticipated to rise from $36.26 billion in 2023 to $38.83 billion in 2024, achieving a CAGR of 7.1%. This growth is driven by the booming electronics manufacturing sector and the integration of smart technologies. By 2028, the market is expected to reach $50.89 billion, maintaining a CAGR of 7.0%. Notable trends include the expansion of applications in automotive electronics and the introduction of low-profile components.
Major Driver In The Through Hole Passive Components Market
The anticipated growth of the through-hole passive component market is closely tied to the increasing demand for consumer electronic devices, encompassing gadgets with electronic circuit boards intended for daily use. The surge in adoption of smart home devices, wearables, and other connected gadgets contributes to a heightened demand for electrical components, elevating the popularity of through-hole passive components. As of January 2023, the U.S. Census Bureau reported monthly retail sales of electronics and appliances in the United States, reaching $7.59 billion in May 2022. Notably, this represents a substantial $3.37 billion increase in retail sales over the two-year period, emphasizing the substantial impact of rising consumer electronic device demand on the through-hole passive component market. Market size projections for 2023, 2024, and 2028 align with this upward trend.
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Through Hole Passive Components Market Competitive Landscape
Panasonic Holdings Corporation, Fujitsu Ltd., Texas Instruments Inc., TE Connectivity Ltd., TDK Corporation, Infineon Technologies AG, Murata Manufacturing Co Ltd., NXP Semiconductors NV, Microchip Technology Inc., Rohm Co Ltd., YAGEO Corp, Vishay Intertechnology Inc., Bourns Inc., Taiyo Yuden Co Ltd., Würth Elektronik Group, AVX Corporation, Nichicon Corporation, KEMET Corporation, Nippon Chemi-Con Corporation, KYOCERA AVX Components Corporation, Rubycon Corporation, Holy Stone Enterprise Co Ltd., EPCOS AG, Lelon Electronics Corp, Elna Co Ltd., Sagami Elec Co Ltd., Cornell Dubilier Electronics Inc., KOA Speer Electronics Inc., NIC Components Corporation, WIMA GmbH & Co KG
Key Through Hole Passive Components Market Trend
Product innovations are a key trend in gaining popularity in the through-hole passive component market. Major companies operating in the through-hole passive component market are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2023, Diodes Incorporated, a US-based semiconductor manufacturer and supplier, launched its debut line of silicon carbide (SiC) Schottky barrier diodes (SBD). The portfolio consists of eight 1200V products (2A, 5A, and 10A) from the DSCxx120 series and eleven 650V products from the DSCxxA065 series. This product's unique characteristic is its wide bandgap for SBD, which provides the benefits of greatly higher efficiency and high-temperature dependability while also answering market requests for lower system operating costs and minimal maintenance.
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Through Hole Passive Components Market Segmentation
The through-hole passive component market covered in this report is segmented –
1) By Component: Resistors, Capacitors, Inductors, Diodes, Transducers, Sensors, Other Components
2) By Leads Model: Axial, Radial
3) By Application: Consumer Electronics, Automotive, Industrial, IT And Telecom, Aerospace And Defense, Healthcare and Life Sciences, Other Applications
By Geography:The regions covered in the through-hole passive components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the through-hole passive component market in 2023, is expected to be the fastest-growing region in the global through-hole passive component market report during the forecast period. The regions covered in the through-hole passive components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Through Hole Passive Components Global Market Report 2024 furnishes information about the global through hole passive components market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
