The Asia Pacific Passive And Interconnecting Electronic Components Market would witness market growth of 5.6% CAGR during the forecast period (2022-2028).
To improve their total product portfolios, key market players are focusing aggressively on producing new and innovative items. For example, AVX Corporation released a new range of tiny, surface-mount, and J-lead tantalum capacitors in March 2019. In high-temperature industrial and automotive applications, these capacitors improve reliability and volumetric efficiency.
Furthermore, major manufacturers are actively focused on mergers and acquisitions, which helps them grow their market share for passive and interconnecting electrical components. For example, Yageo Corporation purchased KEMET Corporation in November 2019. With KEMET's 23 manufacturing facilities and 4,000 personnel spread across North America, Asia Pacific, and Europe, Yageo Corporation will be able to extend its regional presence. Additionally, because KEMET's key products include tantalum capacitors, ceramic capacitors, magnetic, sensors and actuators, and electrolytic and film capacitors, the plan will assist Yageo Corporation to increase its capacitors segment share.
In an increasingly knowledge-intensive society, the communications sector has emerged as a critical infrastructure for socio-economic development. The expansion of telecom services to all parts of the country has become an essential component of a technologically advanced society. With 1189.28 million subscribers, India is currently the world's second-largest telecoms market (of which mobile telephone connections are 1168.32 million and landline telephone connections are 20.96 million). The country's overall teledensity is 90.23 percent. At the end of July 2019, the rural teledensity was 57.01 percent, while the urban teledensity was 160.87 percent.
The country's internet and broadband penetration are rapidly rising, bolstering the government's Digital India push. By the end of June 2019, the total number of Internet subscribers (broadband and narrowband combined) had reached 665.31 million. At the end of June 2019, the number of subscribers accessing the internet via wireless phones and other devices was 643.64 million, with 21.67 million wired internet customers and 594.59 million Broadband subscribers. In the fiscal year 2018-19, FDI equity inflows into the telecom sector were the US $ 2.67 billion.
It increased to the US $ 4.23 billion in 2019-20 (April-June). This is a 58.43% increase over the FDI received in 2018-19. Telecommunications drew US$ 4,227 million (Rs. 29,352 crores) in FDI equity inflows from April to June 2019, accounting for 25.89 percent of overall FDI equity inflows of US$ 16,330 million (Rs. 113,511 crores). The telecom industry is therefore likely to grow in the upcoming years in the region. And as a consequence, the passive and interconnecting electronic components will grow.
The China market dominated the Asia Pacific Passive And Interconnecting Electronic Components Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $27,654.5 million by 2028. The Japan market is experiencing a CAGR of 5% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 6.3% during (2022 - 2028).
Based on Type, the market is segmented into Interconnecting, and Passive. Based on Interconnecting Type, the market is segmented into Connectors/Sockets, PCB, Switches, Relays, and Others. Based on Passive Type, the market is segmented into Capacitors, Resistors & Inductors, Transformers and Diode. Based on Application, the market is segmented into Consumer Electronics, Aerospace & Defense, IT & Telecom, Automotive, Industrial, Healthcare and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Passive And Interconnecting Electronic Components Market is Projected to reach USD 248.5 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TE Connectivity Ltd., Samsung Electro-Mechanics Co., Ltd. (Samsung Group), Fujitsu Limited, Vishay Intertechnology, Inc., Panasonic Corporation, Rohm Semiconductors Co., Ltd., TDK Corporation, Murata Manufacturing Co., Ltd., Yageo Corporation, and Koch Industries, Inc. (Molex LLC).
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