New York, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Through-hole Passive Components Market Size, Share & Trends Analysis Report By Component, By Leads Model, By Application, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06377978/?utm_source=GNW
Through-hole Passive Components Market Growth & Trends
The global through-hole passive components market size is expected to reach USD 60.28 billion by 2030, expanding at a CAGR of 6.4% from 2022 to 2030.
In practically every environment today, electronic gadgets are driven and controlled by electrical components that move the current through electronic circuits.An electronic component that dissipates, stores, and then releases the power had previously referred to as a passive element.
Passive electronic components are those which does not consume any energy.
It doesn’t generate energy, doesn’t require any power, and doesn’t need any kind of electricity to run.These components are usually placed on printed circuit boards (PCBs) sequentially.
The passive components drilled in the PCB boards are called through-hole passive components. The through-hole passive components offer a better build and are more resistant to the changes that occur with time.
One of the main factors propelling the growth of the global through-hole passive component market is the rising demand for through-hole passive components in the medical and automotive sectors. Global healthcare expenditure has increased substantially in recent years owing to the growing prevalence of immunodeficiency disorders, the increasing global population of geriatrics, and the rising number of people with diseases such as diabetes and high blood pressure.
These factors have led to a notable increase in the demand for electronic medical devices for a range of uses.In response, medical device manufacturers are introducing affordable and reliable medical equipment.
A variety of through-hole passive components are used in medical devices to achieve higher reliability and affordability. Devices such as blood glucose meters, blood pressure monitors, Electrocardiograms (ECG), and MRI and CT scans incorporate many through-hole passive components
However, suppliers of through-hole passive components such as capacitors, resistors, and inductors are also suffering from the impact of a weakening electronics market.The electronics market is highly mature and is witnessing sluggish sales, which is forcing vendors to lower quarterly forecasts after a prolonged period of long lead times and strong demand.
Through-hole passive components, connectors, and electromechanical components are often specified and designed into electronic device design cycles later than semiconductors.
Key companies working in the through-hole passive component industry are Vishay Intertechnology, Inc.; YAGEO Group; TDK Corporation; Murata Manufacturing Co.; Panasonic Holding Corporation Microchip Technology Inc.; TE Connectivity Ltd; and KYOCERA AVX Components Corporation. Companies are actively participating in various strategic initiatives such as product launches, acquisitions, and partnerships to gain a competitive advantage. For instance, in September 2021, KYOCERA AVX Components Corporation introduced the TCO series of automotive-grade capacitors. The chip capacitors offer an operating temperature range of up to 150 °C and rated voltage deliverance of up to 1,000 hours.
Through-hole Passive Components Market Report Highlights
• Key factors such as the increasing demand for consumer electronics, rise in automobile sales, and increased usage of through-hole passive components in medical devices are driving the market growth
• The growing importance of automation and Industry 4.0 in several industries such as manufacturing and oil & gas, etc. drives the industry growth. Moreover, governments of various countries are also providing subsidies to establish the manufacturing facilities of through-hole passive components which is opportunistic for the market
• The sensors segment is expected to dominate the market and expand at the highest CAGR of 11.2% from 2022 to 2030
• The Consumer Electronics segment dominated the through-hole passive component industry with a revenue share of 33.0% in 2021
• The use of robots in manufacturing, assembly lines, and packaging is also increasing, which is also responsible for the high adoption of through-hole passive components
Read the full report: https://www.reportlinker.com/p06377978/?utm_source=GNW
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