The Latin America, Middle East and Africa Through-hole Passive Components Market would witness market growth of 7.7% CAGR during the forecast period (2022-2028).
Circuit boards are another important product in which through-hole passive components are used. These components enable the board to perform functions like power stability, conversion, and circuit configuration, which are vital for an electronic gadget's proper functioning, for example, the use of capacitors in most of the necessary home appliances. Therefore, with the increasing manufacture of home appliances, consumer electronic goods, and other industrial digital devices, the demand for through-hole passive components is bound to grow.
Additionally, the growing adoption of smart grids across the world is influencing growth in the through-hole passive components market as well. Capacitors, transformers, resistors, and inductors are some of the components present in smart grids. Along with these, the features of remote control abilities and digital communication that are achieved with the application of PCBs also propel the demand for passive components.
Furthermore, smart meters, a smart grid’s necessary component, can improve reliability, security, and efficiency. These meters include an array of components that facilitates communication between the remote center and the location of the customer. Therefore, the through-hole passive components market is estimated to rise substantially during the forecast period because of the numerous governments’ increasing smart grid initiatives as well as installations of smart meters.
In Latin America, the rising disposable incomes of people are influencing purchasing capacities, as a result of which, growth in industries like consumer electronics, automobiles, and gadgets is being witnessed. It is estimated that the sales of consumer electronics and appliances like air conditioning units, TVs, computers, and refrigerators will grow immensely in the coming years. Similar growth was witnessed across the electric vehicle sector, sales of which approximately doubled in the last year. The most preferred electric vehicles were plug-in hybrids and hybrids. Additionally, the growing trend of video games significantly influenced the sales of devices like gaming consoles across the region.
The Brazil market dominated the LAMEA Through-hole Passive Components Market by Country in 2021; thereby, achieving a market value of $790.4 million by 2028. The Argentina market is showcasing a CAGR of 8.3% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 7.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Through-hole Passive Components Market is Projected to reach USD 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
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