The Europe Through-hole Passive Components Market would witness market growth of 5.2% CAGR during the forecast period (2022-2028).
The increasing penetration of IoT and interconnected devices and the demand for digitalization and electronic devices in automobile and medical industries are further increasing the need for through-hole passive components. Additionally, industrial computers employed for the operation of mechanical and electrical processes, often referred to as programmable logic controllers (PLC), are also assembled with through-hole passive components.
The high demand for the through-hole passive components is also because of Industry 4.0, which is guiding the implementation of automation and robotics along with cloud computing, big data, and 5G. Furthermore, numerous governments globally are supporting initiatives that aim to assist industrial automation, widening the growth prospects for the technology’s implementation.
Additionally, the growing implementation of connected devices like security systems, gaming consoles, smart meters, smartphones, and home appliances, across various industries is driving innovation in the through-hole passive components’ development and usage. Manufacturers of these technologies are also paying attention to the provision of breakthrough solutions to guide the use of connected devices. Furthermore, the increasing number of battery-operated connected applications are demanding batteries with prolonged life to lower the need for maintenance or replacement, which has expedited the innovation drive in this industry.
The European region holds a strategically important asset in the application of semiconductors. Success in the development of semiconductor technology depends on a mix of manufacturing (fabrication and equipment) and advanced engineering (design and research) capabilities. Combining these abilities has been well-known strength of the region, like in the automotive sector. This is spurring the additional advancements in mature semiconductor technology, which would scale into the rest of the industrial ecosystem. As a consequence, the demand for essential passive components is increasing in the region.
The Germany market dominated the Europe Through-hole Passive Components Market by Country in 2021; thereby, achieving a market value of $3,148.3 million by 2028. The UK market is exhibiting a CAGR of 4.3% during (2022 - 2028). Additionally, The France market would experience a CAGR of 6% during (2022 - 2028).
Based on Leads Model, the market is segmented into Axial and Radial. Based on Application, the market is segmented into Consumer Electronics, Automotive, Industrial, IT & Telecom, Aerospace & Defense, Healthcare & Life Sciences and Others. Based on Component, the market is segmented into Capacitors, Resistors, Inductors, Sensors, Diodes, Transducers and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Through-hole Passive Components Market will Hit $50.3 Billion by 2028, at a CAGR of 5.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Vishay Intertechnology, Inc., Yageo Corporation, Murata Manufacturing Co., Ltd., KYOCERA AVX Components Corporation (Kyocera Corporation), Panasonic Corporation, Bourns, Inc., TDK Corporation, TE Connectivity and Microchip Technology, Inc.
By Leads Model
By Application
By Component
By Country
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