Passive Components Market to Cross US$ 25.3 billion in Revenues by 2033-end, Report by Persistence Market Research
Market Study on Passive Components: Skyrocketing Demand for Consumer Electronics and Penetration of Electrification in Automotive Industry Aiding Market Expansion!
New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the global Passive Components Market revenues are set to total US$ 15.8 billion in 2022. Overall passive component sales are forecast to rise at 4.8% CAGR during the assessment period. taking the overall market size to US$ 25.3 billion by the end of 2033.
Demand in the market remains particularly high for capacitors due to increasing applications in diverse industries. A steady CAGR of 4.7% has been predicted by PMR for the capacitors segment during the forecast period (2022 to 2023)