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The global passive electronic components market was valued at US$ 34.11 Billion in 2021.
We expect the global passive electronic components market to exhibit a CAGR of 5.10% during 2022-2027.
The extensive utilization of passive electronic components in various electronic devices, computers, home appliances, gaming consoles, smartphones, etc., as they do not require continuous electrical power to operate, is primarily driving the global passive electronic components market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for passive electronic components.
Based on the type, the global passive electronic components market has been segmented into capacitor, inductor, and resistor. Currently, capacitor holds the majority of the total market share.
Based on the end use industry, the global passive electronic components market can be divided into aerospace and defense, consumer electronics, information technology, automotive, industrial, and others. Among these, the consumer electronics industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global passive electronic components market include Eaton Corporation PLC, KOA Corporation, Kyocera Corporation, Murata Manufacturing Co. Ltd., Panasonic Corporation, Samsung Electro-Mechanics Co. Ltd., Taiyo Yuden Co. Ltd., TDK Corporation, TE Connectivity, TT Electronics Plc, Vishay Intertechnology Inc., and Yageo Corporation.
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