As per Intent Market Research, the General Electronic Components Market was valued at USD 30.0 billion in 2023 and will surpass USD 45.5 billion by 2030; growing at a CAGR of 6.1% during 2024 - 2030.
The general electronic components market is witnessing robust growth, driven by the increasing demand for advanced electronic devices across a range of industries. From smartphones and computers to automotive systems and healthcare devices, electronic components form the backbone of modern technology. Components such as passive and active components, connectors, and electromechanical parts are used in various applications, including consumer electronics, telecommunications, automotive, and industrial sectors. This wide range of applications ensures that the market for electronic components remains dynamic and expansive, with constant innovations enhancing the capabilities of end-use products.
As technology continues to evolve, there is a growing focus on miniaturization, efficiency, and performance. The ongoing development of smaller, more powerful, and energy-efficient components is driving the demand for advanced manufacturing technologies like Surface Mount Technology (SMT) and Through-Hole Technology (THT). These innovations are not only improving the overall functionality of electronic devices but are also opening up new opportunities in emerging markets such as the Internet of Things (IoT), autonomous vehicles, and healthcare electronics.
Passive Components Are Largest Segment in the Market Due to Their Wide Usage
Passive components are the largest segment in the general electronic components market, owing to their wide applicability across a variety of industries. Passive components, which include resistors, capacitors, inductors, and transformers, are essential in regulating electrical signals and managing power in electronic devices. These components do not require external power to operate and are crucial for controlling voltage, current, and signal flow, making them indispensable in electronic circuits.
The automotive and consumer electronics industries are among the largest end-users of passive components, where they are integral to power management systems, signal processing, and voltage regulation. With the growing trend toward electric vehicles, renewable energy solutions, and more sophisticated consumer electronics, the demand for passive components is expected to remain high. The reliability and versatility of passive components make them a vital part of the electronic components ecosystem, ensuring their dominance in the market.
Surface Mount Technology (SMT) is Fastest Growing Technology Owing to Miniaturization Trends
Surface Mount Technology (SMT) is the fastest-growing technology in the general electronic components market, driven by the need for smaller, more efficient, and reliable components in modern electronics. SMT involves placing components directly onto the surface of printed circuit boards (PCBs), which allows for smaller and more compact designs compared to traditional through-hole mounting. This technology has become a preferred method in the manufacturing of compact electronic devices, where space is at a premium.
The miniaturization trend, particularly in consumer electronics and automotive sectors, is accelerating the adoption of SMT. In smartphones, wearables, and medical devices, smaller form factors and enhanced functionalities are essential, making SMT technology increasingly indispensable. Moreover, SMT’s ability to support high-volume manufacturing with greater precision and efficiency is contributing to its rapid adoption, particularly in high-tech industries. This makes it a critical driver of growth in the general electronic components market.
Consumer Electronics is Largest End-User Industry Due to High Demand for Electronic Devices
Consumer electronics is the largest end-user industry in the general electronic components market, driven by the persistent demand for advanced and connected electronic devices. This industry encompasses a broad array of products such as smartphones, laptops, smart TVs, wearables, and home appliances. As consumers continue to demand more sophisticated, feature-rich, and compact devices, the need for high-quality electronic components in the manufacturing process grows.
The increasing adoption of technologies such as IoT, artificial intelligence, and 5G is further enhancing the demand for electronic components in consumer electronics. Additionally, the surge in disposable income and the growing popularity of smart home technologies are propelling the market forward. As consumer electronics evolve, there is an ongoing need for more efficient, smaller, and highly integrated components, ensuring the continued dominance of this sector in the general electronic components market.
Asia Pacific Leads the Market Due to Manufacturing Capabilities and Strong Demand
Asia Pacific is the largest region in the general electronic components market, driven by the region’s strong manufacturing capabilities and rapidly expanding demand for electronics across various sectors. Countries like China, Japan, South Korea, and India are global hubs for electronic component production, with robust supply chains and advanced technological infrastructure. The region’s dominance in the consumer electronics and automotive industries further boosts the demand for electronic components, particularly passive and active components.
In addition to manufacturing, Asia Pacific is also home to a rapidly growing consumer base for electronics, spurring demand for new products and innovations. The rise of smart cities, the adoption of electric vehicles, and the growth of the tech industry in this region contribute significantly to the overall market expansion. As Asia Pacific continues to drive global electronics production and consumption, it is expected to maintain its leadership position in the general electronic components market.
Competitive Landscape and Leading Companies
The general electronic components market is highly competitive, with a mix of established players and emerging innovators striving to capture market share. Key players in this market include companies like Murata Manufacturing, TDK Corporation, Vishay Intertechnology, and Panasonic Corporation. These companies offer a wide range of products, including passive components, connectors, and electromechanical components, and are known for their strong research and development capabilities.
The competitive landscape is characterized by continuous product innovation, strategic mergers and acquisitions, and partnerships aimed at expanding product offerings and market reach. Leading companies are also focusing on technological advancements, such as the development of more efficient and miniaturized components, to meet the evolving demands of the consumer electronics, automotive, and industrial sectors. As the demand for electronic devices and systems continues to rise globally, competition in the general electronic components market is expected to intensify, fostering further innovation and growth in the industry.
Recent Developments:
- In November 2024, Texas Instruments launched a new power management IC aimed at improving the efficiency of industrial applications.
- In October 2024, Infineon Technologies expanded its portfolio of automotive microcontrollers to meet the needs of electric vehicles (EVs).
- In September 2024, NXP Semiconductors introduced a new series of automotive-grade semiconductors focused on enhancing ADAS performance.
- In August 2024, STMicroelectronics announced a collaboration with a leading automaker to supply automotive-grade power ICs for electric vehicles.
- In July 2024, Analog Devices launched a new high-speed ADC aimed at 5G communications and industrial automation applications.
List of Leading Companies:
- Texas Instruments Inc.
- Infineon Technologies AG
- NXP Semiconductors
- STMicroelectronics
- Qualcomm Incorporated
- Analog Devices, Inc.
- Microchip Technology Inc.
- Broadcom Inc.
- Maxim Integrated Products, Inc.
- ON Semiconductor
- Renesas Electronics Corporation
- Xilinx Inc.
- Kyocera Corporation
- Toshiba Corporation
- Vishay Intertechnology, Inc.
Report Scope:
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Report Features |
Description |
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Market Size (2023) |
USD 30.0 billion |
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Forecasted Value (2030) |
USD 45.5 billion |
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CAGR (2024 – 2030) |
6.1% |
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Base Year for Estimation |
2023 |
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Historic Year |
2022 |
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Forecast Period |
2024 – 2030 |
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Report Coverage |
Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
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Segments Covered |
General Electronic Components Market By Product Type (Passive Components, Active Components, Connectors, Electromechanical Components, Electronic Assemblies), By Technology (Surface Mount Technology (SMT), Through-Hole Technology (THT), Hybrid Integrated Circuits (ICs)), By End-User Industry (Consumer Electronics, Automotive, Industrial, Telecommunications, Healthcare) |
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Regional Analysis |
North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) |
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Major Companies |
Texas Instruments Inc., Infineon Technologies AG, NXP Semiconductors, STMicroelectronics, Qualcomm Incorporated, Analog Devices, Inc., Microchip Technology Inc., Broadcom Inc., Maxim Integrated Products, Inc., ON Semiconductor, Renesas Electronics Corporation, Xilinx Inc., Kyocera Corporation, Toshiba Corporation, Vishay Intertechnology, Inc. |
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Customization Scope |
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
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