PUBLISHER: Market Research Future | PRODUCT CODE: 1793489
PUBLISHER: Market Research Future | PRODUCT CODE: 1793489
US, Europe, APAC Electronic Components Market Research Report Information by Category (Active Electronic Components, Passive Electronic Components), by End-Use Vertical (Consumer Electronics, Automotive, Aerospace and Defence, Industrial, Medical, Telecommunications, Utilities, Robotics, Others), and by Region (US, Europe, APAC) Forecast till 2035
Industry Overview
The electronic components market is anticipated to attain USD 384,235.40 million and register a compound annual growth rate of 5.0% by the end of 2035. Electronic components are individual devices or parts that work together in circuits to manage, amplify, or control electrical signals. They can be active, like microchips and diodes, or passive, like resistors and capacitors. Found in nearly every modern device, they are the foundation of all electronic technology.
Across the US, Europe, and Asia-Pacific, the electronic components market is expanding at a steady pace, supported by the increasing use of IoT technology and connected devices. In Europe, smart infrastructure projects such as IoT-enabled street lighting are improving energy efficiency. In the U.S., connected healthcare and industrial IoT are expanding at a rapid pace, whereas APAC is reaping the advantages of rapid 5G deployment and massive smart city projects. The demand for parts such as sensors, processors, and wireless modules has not relented, as industrialization is going on. Technological improvements in chip design, for example, 5nm and 3nm processors, have been considerable, as they offer consumers electronics, autonomous vehicles, and industrial systems much higher processing power with much less energy.
Challenges persist, such as getting the needed quality of components at a price that is competitive and handling the obsolete parts problem, especially in sectors with long product lifecycles. Cost pressures from fluctuating raw material prices and OEM pricing demands further affect profitability.
Opportunities are emerging in industrial automation, renewable energy, and robotics. Automotive and healthcare robotics, solar and wind power systems, and Industry 4.0 technologies all rely heavily on advanced electronic components. With rising automation in factories, the use of AI-enabled systems, and the global push toward cleaner energy, component demand in these regions is set to grow. The market outlook remains positive as connected technologies become more integrated into everyday applications.
Industry Segmentations
Depending on the category, the electrical components market is segmented into active and passive electronic components.
The electrical components market is classified into consumer electronics, automotive, aerospace and defence, industrial, medical, telecommunications, utilities, robotics, and others.
The US market for electronic components is driven by the adoption of advanced wireless technologies, smart devices, and electric mobility. The installation of 5G networks has greatly increased the demand for high-speed connectivity chips and related hardware increase greatly. Growth in the area of EV has resulted in increased utilization of power electronics made especially for the purpose and thermal management systems. Several factors, such as the disruption of supplies and an import tariff, have led to a slowdown in the production of goods, while rapid innovation cycles are demanding constant upgrading. In order to remain competitive, firms are concentrating on domestic manufacturing and technology advancement.
One of the major demand drivers in Europe is the adoption of renewable energy and the recovery of the automotive industry. Projects of wind and solar energy depend greatly on the use of advanced inverters, control systems, and sensors. The automotive sector in Germany is pushing forward the development of connected and electric vehicles. Semiconductor supply is still somewhat dependent on imports, which is why local production capacity is needed. The region is benefiting from the support of cooperative R&D programs and the use of investing in automation in order to increase its market positioning.
Asia-Pacific's dominance is greatly supported by the region's strong consumer electronics and semiconductor manufacturing base. The likes of South Korea and Taiwan are at the forefront of advanced chip production, whereas China is still the go-to place for big assembly. Apart from that, the growth of IoT and industrial automation has been the main source of component demand in the area. Besides, the region is now moving towards green electronics, with a focus on efficiency and less impact on the environment. Supply chain diversification investments have been triggered by trade restrictions and pandemic-era shortages.
Major players in the electronic components market are Texas Instruments Incorporated, Broadcom Inc., Infineon Technologies AG, NXP Semiconductors NV, Renesas Electronics Corp, STMicroelectronics N.V., Microchip Technology, Silicon Laboratories Inc., Panasonic Holdings Corporation, Nordic Semiconductor ASA, Nippon Chemi-con Corporation, Samsung Electro-Mechanics, Glen Magnetics, Inc., AGILE MAGNETICS, INC, Vishay Intertechnology Inc., TDK CORPORATION, KOA Corporation, EREMU, SA, Sagami Elec Co., Ltd, Murata Manufacturing Co., Ltd, Broadcom Inc., Infineon Technologies AG, STMicroelectronics N.V., Microchip Technology, NIPPON CHEMI-CON CORPORATION, Samsung Electro-Mechanics, AGILE MAGNETICS, INC, Vishay Intertechnology Inc., TDK CORPORATION, and Murata Manufacturing Co., Ltd.