Through-hole Passive Components Market Size Expands to Touch USD 54.3 Billion by 2029

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Through-hole Passive Components Market

Through-hole passive components market is flourishing because of rising demand for through-hole passive components in the medical and automobile industries and high adoption of connected devices.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global through-hole passive components market size at USD 35.76 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global through-hole passive components market size to grow at a significant CAGR of 6.21% reaching a value of USD 54.27 billion by 2029. Major growth factors of global through-hole passive components market include increasing penetration of linked devices, as well as the increasing demand for through-hole passive components in the medical and automotive industries. Global healthcare costs have risen dramatically in recent years as a result of the increasing frequency of immunodeficiency illnesses, an aging global population, and a surge in the number of people suffering from diseases such as diabetes and high blood pressure. These reasons have resulted in a significant increase in the demand for electronic medical devices for a variety of applications. As a result, medical device makers are introducing low-cost, dependable medical equipment. Hence, these factors are expected to boost the expansion of overall market. However, increased competition from surface mount technology is anticipated to hinder the growth of global through-hole passive components market.

Global Through-hole Passive Components – Overview

Through-hole passive components are drilled on printed circuit boards and not connected superficially, making them robust and capable of handling various pressures and forces more efficiently than non through-hole passive components. To improve dependability and affordability, medical gadgets incorporate a range of through-hole passive components. Many through-hole passive components are used in devices, such as blood glucose meters, blood pressure monitors, electrocardiograms (ECG), and MRI and CT scans.

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Increasing adoption of through-hole components in connectors

Connectors are utilized in electronic equipment. Almost all electrical sectors need and manufacture millions of connectors each week. Due to their great dependability, through-hole passive components are used in connectors. The excellent reliability of these components is achieved by the fact that the passive components employed in these pieces likewise transit through the board before being soldered into place. Passive through-hole technology components are employed more than surface mount technology because a strong connection must be maintained between the printed circuit boards (PCB) and other components.

Challenge: Alternative speedier assembling processes

Though through-hole component assembly is favored for goods that require greater robustness and uniformity, surface mount assembly remains more prevalent. This is mostly due to the fact that miniaturization is only possible to a limited amount with through-hole components. In most cases, through-hole assembly necessitates larger-specified boards. Furthermore, unlike through-hole components, surface mount components are minimal in weight and do not interfere with their operation. As a result, they are suitable for use in high-density, compact circuits.

Impact of COVID-19 on Global Through-hole Passive Components Market

COVID-19 had a detrimental impact on passive component manufacturing business, particularly the through-hole passive component market. Sales of passive components fell as a result of the temporary shutdown of manufacturing facilities and restrictions on movement across international borders in various countries. Most developed nations were negatively affected, and governments blocked markets to limit virus spread. This resulted in a decrease in the usage of electronic devices, with ramifications for the passive components business as well.

Global Through-hole Passive Components Market – By Application

Based on application, global through-hole passive components market is divided into Consumer Electronics, Automotive, Industrial, IT & Telecom, Aerospace & Defense, and Healthcare & Life Sciences. The industrial segment held the highest market share. The increasing usage of sensor-based devices, robotic systems, and security cameras in various industrial applications such as remote monitoring and process automation is driving the segment’s expansion.

Competitive Landscape

Major players operating in global through-hole passive components market 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. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Through-hole Passive Components Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Through-hole Passive Components Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Through-hole Passive Components Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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