The Through-Hole Passive Components Global Market Report 2023 by The Business Research Company, provides Through-Hole Passive Components market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
According to The Business Research Company’s Through-Hole Passive Components Global Market Report 2023, the market size is expected to grow from .87 billion in 2022 to .41 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global through-hole passive component market size is expected to reach .61 billion in 2027 at a CAGR of 6.3%.
Rising demand for consumer electronic devices is expected to propel the growth of the through-hole passive component market going forward. A consumer electronic device is any gadget that contains an electronic circuit board and is intended for use by individuals on a daily basis. The rising adoption of smart home gadgets, wearables, and other connected devices drives up demand for electrical components, thus rising popularity of through-hole passive component.
The Through-Hole Passive Components market is segmented: 1) By Component: Resistors, Capacitors, Inductors, Diodes, Transducers, Sensors, Other Components 2) By Leads Model: Axial, Radial 3) By Application: Consumer Electronics, Automotive, Industrial, IT And Telecom, Aerospace And Defense, Healthcare and Life Sciences, Other Applications
Product innovations are a key trend in gaining popularity in the through-hole passive component market. Major companies operating in the through-hole passive component market are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2023, Diodes Incorporated, a US-based semiconductor manufacturer and supplier, launched its debut line of silicon carbide (SiC) Schottky barrier diodes (SBD). The portfolio consists of eight 1200V products (2A, 5A, and 10A) from the DSCxx120 series and eleven 650V products from the DSCxxA065 series. This product's unique characteristic is its wide bandgap for SBD, which provides the benefits of greatly higher efficiency and high-temperature dependability while also answering market requests for lower system operating costs and minimal maintenance.
