Electronic Components Market Forecasts to 2032 - Global Analysis By Component Type, Material, Technology, Distribution Channel, Application, End User and By Geography

According to Stratistics MRC, the Global Electronic Components Market is accounted for $442.4 billion in 2025 and is expected to reach $1002.7 billion by 2032 growing at a CAGR of 12.4% during the forecast period. Electronic components are fundamental building blocks of electrical circuits, designed to regulate, control, or transmit electrical signals. They are categorized into active components (such as semiconductors and integrated circuits), passive components (including resistors, capacitors, and inductors), and electromechanical components (such as connectors and switches). These components enable the functionality of various electronic devices across industries, including telecommunications, automotive, consumer electronics, and industrial automation. Their efficient integration ensures performance optimization, power management, and signal processing in advanced electronic systems.

According to IEA's Global Electric Vehicle Outlook, more than 10 million electric cars will be sold globally in 2022, and the sales are expected to grow by another 35% or 14 million in the year. This explosive growth of electric cars' share of the overall car market has risen from 14% in 2022 and is set to increase further to 18% in 2023.

Market Dynamics:

Driver:

Explosive growth of consumer electronics

Increasing adoption of smartphones, wearables, and smart home devices is driving innovation in semiconductor technology. Miniaturization trends and the integration of AI-powered functionalities are further accelerating component development. Additionally, the rise of IoT-enabled devices and connected ecosystems is creating new opportunities for high-performance electronic components. As manufacturers focus on enhancing efficiency and reducing power consumption, the market is expected to witness sustained growth.

Restraint:

Risk of component obsolescence and short product lifecycles

Manufacturers must continuously update designs to keep pace with evolving industry standards, which adds to production costs. Additionally, rapid shifts in consumer preferences and emerging technologies can render existing components outdated. This challenge is particularly significant in sectors such as telecommunications and automotive, where compatibility with next-generation systems is crucial which impedes the market growth.

Opportunity:

Government initiatives and incentives for local manufacturing

Incentives such as tax benefits, subsidies, and infrastructure development are encouraging companies to establish production facilities locally. These initiatives aim to reduce dependency on imports and strengthen supply chain resilience. Additionally, investments in semiconductor fabrication and research are fostering innovation, enabling manufacturers to develop cutting-edge electronic components. The push for self-reliance in electronics production is expected to drive long-term industry growth.

Threat:

Intense price competition and commoditization of standard components

Standardized components, such as resistors and capacitors, are produced in high volumes, leading to aggressive cost competition among manufacturers. Companies must differentiate their offerings through technological advancements and value-added features to maintain profitability. Additionally, fluctuations in raw material costs and supply chain disruptions can impact pricing strategies leading to stunt market growth.

Covid-19 Impact:

The COVID-19 pandemic disrupted global supply chains, affecting the availability of electronic components. Lockdowns and factory closures led to production delays, causing shortages in critical sectors such as automotive and consumer electronics. However, the crisis also accelerated digital transformation, increasing demand for semiconductors and connectivity solutions. Remote work, e-learning, and telemedicine drove the need for high-performance computing devices, boosting component sales.

The active components segment is expected to be the largest during the forecast period

The active components segment is expected to account for the largest market share during the forecast period owing to their critical role in electronic circuit functionality, including amplification, switching, and energy conversion. Components such as transistors, diodes, integrated circuits, and power management devices are essential across a wide spectrum of applications, from consumer electronics to automotive and industrial automation. Their rising usage in smart devices and energy-efficient systems has significantly increased demand.

The surface-mount technology (SMT) segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the surface-mount technology (SMT) segment is predicted to witness the highest growth rate due to its ability to streamline the manufacturing of compact and high-density electronic assemblies. SMT allows for the efficient placement of components directly onto printed circuit boards, improving mechanical performance and reducing production time. As devices become increasingly compact, this assembly method is becoming the preferred choice for manufacturers across sectors.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share driven by its dominant position in global electronics manufacturing. Countries such as China, South Korea, Japan, and Taiwan host major semiconductor and electronic assembly hubs, supplying components to markets worldwide. The region benefits from a strong infrastructure, skilled workforce, and favorable government policies that support large-scale production. Additionally, rising consumer demand for advanced electronics within these economies further boosts internal consumption.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR attributed to increasing investments in next-generation technologies and onshoring of semiconductor production. The region is seeing heightened demand for components used in aerospace, defense, 5G infrastructure, and electric vehicles, all of which require high reliability and performance. Government initiatives aimed at strengthening domestic semiconductor capabilities are also contributing to growth.

Key players in the market

Some of the key players in Electronic Components Market include Amphenol Corporation, TE Connectivity Ltd., Murata Manufacturing Co. Ltd, TDK Corporation, Corning Incorporated, Delta Electronics, Inc., Hon Hai Precision Industry Co. Ltd (Foxconn), Celestica Inc., E Ink Holdings, Inc., Unimicron Technology Corp, Shengyi Technology Co. Ltd, Chaozhou Three-Circle Group, Sunny Optical Technology Group Co Ltd, Fabrinet, Elite Material Co. Ltd, Jabil Inc., Flex Ltd., and LARGAN Precision Co., Ltd.

Key Developments:

In May 2025, TDK accelerated the launch of its third-generation silicon anode batteries due to rising demand from smartphone manufacturers. These batteries offer higher energy density compared to conventional ones. A fourth-generation battery is planned for release next year.

In May 2025, Foxconn announced a partnership with NVIDIA to build a state-of-the-art AI Factory supercomputing center in Taiwan. This facility will provide advanced AI infrastructure to various sectors.

In April 2025, Fabrinet partnered with Innoviz Technologies to commence mass production of the InnovizTwo LiDAR product platform. This collaboration focuses on manufacturing both long-range and short-range LiDAR systems. The partnership aims to meet the growing demand for advanced driver-assistance systems.

Component Types Covered:

• Active Components
• Passive Components
• Electromechanical Components
• Other Component Types

Materials Covered:

• Silicon
• Germanium
• Gallium Arsenide
• Other Materials

Technologies Covered:

• Surface-Mount Technology (SMT)
• Through-Hole Technology
• Microelectronics
• Nanoelectronics
• Other Technologies

Distribution Channels Covered:

• Direct Sales
• Distributors
• Online Retail
• Third-party Resellers

Applications Covered:

• Power Management
• Signal Processing
• Data Conversion
• Amplification
• Switching
• Lighting & Display
• Sensing
• Other Applications

End Users Covered:

• Automotive
• Industrial
• Telecommunication
• Aerospace & Defense
• Healthcare
• IT & Computing
• Energy & Utilities
• Consumer Electronics
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
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