November 29, 2021

USD 11.68 bn growth in Passive Component Market from 2019 to 2024 |17000+ Technavio Reports

NEW YORK, Nov. 11, 2021 /PRNewswire/ — The passive component market is set to grow by USD 11.68 billion from…

NEW YORK, Nov. 11, 2021 /PRNewswire/ — The passive component market is set to grow by USD 11.68 billion from 2019 to 2024, progressing at a CAGR of about 7% as per the latest report by Technavio.

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The passive component market covers the following areas:

The passive component market report offers a comprehensive analysis of the strategies adopted by vendors and the trends, drivers, and challenges affecting the market size. The report identifies growth in demand for communication equipment as one of the major factors driving the growth of the market. Also, the advancement of IoT in industries will be crucial in fueling the growth of the market over the forecast period. However, factors such as declining demand for desktop computers and TV sets may impede the market growth.

The passive component market analysis includes the product (capacitors, resistors, and inductors), end-user (telecom industry, consumer electronics, industrial machinery, and automotive industry), and geography (APAC, Europe, MEA, North America, and South America). This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

58% of the market’s growth will originate from APAC during the forecast period. China, Taiwan, and Japan are the key markets for passive components in APAC. APAC has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. 

Some Companies Mentioned

  • AVX Corp.
  • KEMET Electronics Corp.
  • Murata Manufacturing Co. Ltd.
  • Nichicon Corp.
  • Nippon Chemi-Con Corp.
  • Panasonic Corp.
  • Ryosan Company Ltd.
  • Samsung Electro-Mechanics Co. Ltd.
  • Taiyo Yuden Co. Ltd.
  • YAGEO Corp.

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Passive Component Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 7%

Market growth 2020-2024

USD 11.68 billion

Market structure


YoY growth (%)


Regional analysis

APAC, Europe, MEA, North America, and South America

Performing market contribution

APAC at 58%

Key consumer countries

China, Taiwan, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

AVX Corp., KEMET Electronics Corp., Murata Manufacturing Co. Ltd., Nichicon Corp., Nippon Chemi-Con Corp., Panasonic Corp., Ryosan Company Ltd., Samsung Electro-Mechanics Co. Ltd., Taiyo Yuden Co. Ltd., and YAGEO Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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