The North America Through-hole Passive Components Market would witness market growth of 5.7% CAGR during the forecast period (2022-2028).
The passive electronic industry has witnessed substantial development in the last few years. Much of this development is attributable to rising digitalization across numerous sectors, which has also facilitated the expansion of the consumer electronics industries along with the surge in demand for mobility and connectivity.
Consequently, the complexity and sophistication of electronic products have increased. Such developments also propel the demand for passive components in the industries like automotive and electronics. Furthermore, passive components are also required in devices that have to endure extreme temperatures, dust, liquid resistance requirements, vibration ratings, etc.
Hence, these equipment are extensively used in the oil & gas and aerospace industries as well. Additionally, the gradual growth of passive components like inductors is due to the rising product launches, developments in the consumer devices and electronics industry, increasing inductor use in automotive electronics, and the rising implementation of smart grids.
The United States has one of the biggest automotive industries in this region. To meet the requirement of statutory emission standards, there is immense pressure on manufacturers to develop efficient engine technology. Such elements have a considerable effect on the development of the electric vehicles sector. Additionally, the region has a sizeable number of OEMs that are establishing supportive policies that are in favor of the growth of electric vehicles. Furthermore, the younger generations heightened interest in luxury vehicles is creating a robust opportunity for this industry.
The US market dominated the North America Through-hole Passive Components Market by Country in 2021; thereby, achieving a market value of $10,241.1 million by 2028. The Canada market is experiencing a CAGR of 8.1% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 7.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Through-hole Passive Components Market is Predict to reach $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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