Global Passive Components Market Report 2022: Market Value is Projected to Reach $49.04 Billion by 2027 from $35.69 Billion in 2021 with MLCCs Dominating - ResearchAndMarkets.com
The global passive components market in 2021 was valued at US$35.69 billion. The market value is projected to reach US$49.04 billion by 2027.
The market is expected to grow at a CAGR of 5.44% during the forecast period of 2022-2027, with multilayer ceramic capacitors (MLCCs) being the dominant product and a key growth driver.
Given the rising MLCC usage in various growing sectors and applications (e.g., 5G infrastructure, 5G SP, server/cloud, and automotive), it is expected to project secular growth in demand for overall passive components over the next five years.