Automotive Passive Electronic Component Market Overview:
As per MRFR analysis, the automotive passive electronic component market size was estimated at 36.63 (USD Billion) in 2022. The automotive passive electronic component market is expected to grow from 38.12 (USD Billion) in 2023 to 54.6 (USD Billion) by 2032. The automotive passive electronic component market CAGR (growth rate) is expected to be around 4.07% during the forecast period (2024 - 2032).
Key Automotive Passive Electronic Component Market Trends Highlighted
Technological developments in vehicle electrification, autonomous driving, and growing electronic content have an impact on the automotive passive electronic component industry. The growing popularity of electric vehicles, which necessitate more passive components for power management and conversion, is one of the major market drivers.
The growing use of connected automobile technologies and advanced driver assistance systems (ADAS) is driving up demand for passive components that provide signal conditioning, filtering, and protection.
The development of high-power passive components for electric cars and the incorporation of passive components into cutting-edge packaging technologies present emerging prospects in this market.
Miniaturization of passive components, the introduction of novel materials, and the implementation of Industry 4.0 technologies for increased productivity and cost savings are some current trends.
Passive electronic components will become more and more in demand as the automobile sector develops, providing market participants with substantial growth opportunities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Passive Electronic Component Market Drivers
Increasing Adoption of Advanced Driver Assistance Systems (ADAS)
Passive electronic components are commonly used in the automotive industry as a part of the Advanced Driver-Assistance Systems (ADAS). The capacitors, resistors, and inductors are necessary for the functionality of the ADAS system due to their ability to provide a stable power supply to the system, condition the signal, and protect it against electrical disturbances.
Thus, the increasing adoption of systems with safety features and the ability to drive autonomously is expected to drive the demand for automotive passive electronic components in the future.
Electrification of Vehicles
The transition towards electric and hybrid vehicles is creating new opportunities for the automotive passive electronic component market. Electric vehicles require specialized electronic components that can withstand high voltage and current levels, as well as harsh environmental conditions.
Passive electronic components, such as capacitors, inductors, and transformers, are essential for power conversion, energy storage, and signal processing in electric vehicles.
The growing adoption of electric vehicles is expected to drive the demand for passive electronic components in the automotive industry.
Growing Demand for Connectivity and Infotainment Systems
The demand for passive electronic components in the automotive industry is rising due to the increasing integration of connectivity and infotainment systems in vehicles.
Such vehicles require a wide array of electronic components, such as capacitors, resistors, and inductors, for data transmission, power supply, and signal processing.
Additionally, the increasing adoption of connected and autonomous vehicles is likely to drive the demand for passive electronic components in the near future.
Automotive Passive Electronic Component Market Segment Insights:
Automotive Passive Electronic Component Market Product Type Insights
The market is segmented by product type into capacitors, resistors, inductors, diodes, transistors, and sensors. Capacitors are the largest segment, accounting for over 50% of the market in 2023. This is because they have a wide range of applications in automotive electronics.
For example, they are used for power supply filtering, signal conditioning, or energy storage. Resistors are the second-largest segment, followed by inductors, diodes, transistors, and sensors. This is because of the increasing use of electronics in vehicles and the growing demand for electric and hybrid vehicles.
Electric and hybrid vehicles require a higher number of passive electronic components compared to traditional vehicles. From this type, capacitors are expected to remain the largest segment throughout the forecast period.
This is because of their widespread use in automotive electronics and the growing demand for electric and hybrid vehicles. These types of vehicles require a higher number of capacitors for power supply filtering and energy storage. The market for resistors is also expected to grow rapidly due to their increasing use in automotive electronics for current limiting, voltage division, or signal conditioning.
Inductors are expected to grow slightly slower as their use is more specific. They are used in automotive electronics for power supply filtering or energy storage. Finally, the growing demand for diodes in power rectification and voltage protection in automotive electronics is expected to grow slowly.
On the other hand, the market for transistors is expected to grow slightly faster as they are increasingly used for power switching and signal amplification.
The growth of the sensor segment is expected to be the fastest as the demand for sensors in automotive electronics such as tire pressure monitoring, airbag deployment, lane departure warning systems, etc. grows. They are also used in advanced driver assistance systems and autonomous vehicles, whose adoption is growing.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Passive Electronic Component Market Application Insights
The application segment of the global automotive passive electronic component market is expected to grow significantly over the forecast period. The rising demand for advanced driver assistance systems and infotainment systems is driving the growth of this segment.
ADAS systems require a wide array of passive electronic components, such as resistors, capacitors, and inductors, to operate effectively. Similarly, infotainment systems also require a high number of passive electronic components to provide different features, such as navigation, audio streaming, and hands-free calling.
The publisher segmented the global automotive passive electronic component market by application and provided detailed data on size, share, and market trends. Companies can use the data to identify development opportunities and develop their growth strategies.
In 2023, the global automotive passive electronic component market revenue for Engine Control application is expected to be around USD 2.54 billion. The growth of this application segment will be facilitated by the rising demand for electronic engine management systems.
The market for Global Automotive Passive Electronic Component for Transmission Control will also experience substantial growth since automatic transmission is increasingly becoming the preferred transmission option.
Automotive Passive Electronic Component Market Vehicle Type Insights
The Vehicle Type segment is a crucial aspect of the global automotive passive electronic component market, influencing market trends and growth. Passenger Cars hold a significant share of the market due to their widespread adoption and high production volumes.
Commercial Vehicles, including trucks and buses, also contribute substantially, driven by increasing demand for efficient logistics and transportation solutions. Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) are gaining traction, driven by government incentives and environmental concerns.
Their growing popularity is expected to boost the demand for passive electronic components used in power electronics, battery management systems, and motor control units.
Two Wheelers and Three Wheelers are other key segments, particularly in emerging markets where they serve as affordable and efficient modes of transportation.
In 2023, the global automotive passive electronic component market revenue for Vehicle Type was estimated at USD 15.6 billion, and it is projected to reach USD 22.4 billion by 2032, exhibiting a CAGR of 4.2%.
This growth is attributed to increasing vehicle production, technological advancements, and the rising demand for safety and comfort features in vehicles.
Automotive Passive Electronic Component Market Regional Insights
The regional segmentation of the global automotive passive electronic component market offers valuable insights into the geographical distribution of market growth and opportunities.
North America holds a significant share of the market, driven by factors such as the presence of major automotive manufacturers and a strong aftermarket.
Europe follows closely, with a well-established automotive sector and a focus on advanced technologies. The Asia-Pacific region is expected to witness significant growth in the coming years, supported by the rising production of vehicles and the expansion of automotive electronics.
South America and the Middle East and Africa (MEA) regions also present growth potential, with increasing urbanization and demand for vehicles contributing to the market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Passive Electronic Component Market Key Players and Competitive Insights:
The development of the automotive passive electronic component market is being driven by the increased demand for electronic components in vehicles.
Moreover, the growing popularity of electric and hybrid vehicles affects the growth of the market. The surge in new product launches especially encompasses new passive electronic components.
Both major and Leading automotive passive electronic component market players try to launch new products by developing innovative components that conform to the market’s demands.
Furthermore, significant automotive passive electronic component market players invest in research and development to ensure their products are efficient and high-quality.
The players strive to remain on top of the competition as the main revenue gains are predicted to come from Asia, while players operating in developed markets are on the edge of satisfying the demands of B2B customers.
For instance, Murata Manufacturing Co., Ltd. is the major automotive passive electronic component market player that serves and markets a broad range of passive electronic components for the automotive industry, like capacitors, resistors, and inductors.
The company leverages its wide-reaching presence and is able to supply products to major automotive players globally. Its product quality and continuous innovation are also strong points.
TDK Corporation also operates as a Leading automotive passive electronic component market player and provides a wide range of passive electronic component products to the automotive market, including capacitors, resistors, and inductors.
The company is able to serve major automotive original equipment manufacturers worldwide too. Its product quality and continuous innovation make it a strong player as well.
Key Companies in the automotive passive electronic component market Include:
- Murata
- EPCOS
- Panasonic
- Yageo
- Bourns
- Vishay Intertechnology
- Kemet
- AVX
- TDK
- Samsung ElectroMechanics
- RohmnewnparaWalsin Technology
- Taiyo Yuden
- Wuerth Elektronik
Automotive Passive Electronic Component Market Developments
The increasing demand for electronic components in vehicles due to the rising adoption of advanced driver assistance systems (ADAS) and autonomous vehicles is driving market growth.
Government regulations mandating the use of safety features in vehicles are also contributing to the demand for passive electronic components.
Key players in the market include Panasonic, TDK, Murata, and Kemet. Recent developments include the launch of new products such as high-voltage capacitors and inductors for electric vehicles and the expansion of production facilities to meet growing demand.
Automotive Passive Electronic Component Market Segmentation Insights
Automotive Passive Electronic Component Market Product Type Outlook
- Capacitors
- Resistors
- Inductors
- Diodes
- Transistors
- Sensors
Automotive Passive Electronic Component Market Application Outlook
- Engine Control
- Transmission Control
- Body Control
- Safety and Security Systems
- Infotainment Systems
- Advanced Driver Assistance Systems (ADAS)
Automotive Passive Electronic Component Market Vehicle Type Outlook
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles (EVs)
- Hybrid Electric Vehicles (HEVs)
- Two Wheelers
- Three Wheelers
Automotive Passive Electronic Component Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
36.63(USD Billion) |
| Market Size 2023 |
38.12(USD Billion) |
| Market Size 2032 |
54.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.07% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Murata, EPCOS, Panasonic, Yageo, Bourns, Vishay Intertechnology, Kemet, AVX, TDK, Samsung ElectroMechanics, RohmnewnparaWalsin Technology, Taiyo Yuden, Wuerth Elektronik |
| Segments Covered |
Product Type, Application, Vehicle Type, Regional |
| Key Market Opportunities |
Electric vehicle proliferation Autonomous driving technology advancements Increasing demand for comfort and convenience features Growing adoption of infotainment systems Advanced driver assistance systems ADAS integration |
| Key Market Dynamics |
Increasing electric vehicle adoption Autonomous driving advancements Growing demand for safety features Miniaturization and integration Stringent emission regulations |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global automotive passive electronic component market reached USD 38.12 billion in 2023.
The global automotive passive electronic component market is expected to grow at a CAGR of 4.07% from 2024 to 2032.
Asia Pacific dominated the global automotive passive electronic component market in 2023.
Key applications of Automotive Passive Electronic Components include powertrain, body electronics, safety systems, and infotainment systems.
Key competitors in the global automotive passive electronic component market include TDK, Murata, AVX, Kemet, and Vishay.
The growth of the global automotive passive electronic component market is being driven by the increasing demand for electronic components in vehicles.
Challenges facing the global automotive passive electronic component market include the rising cost of raw materials and the shortage of skilled labor.
Opportunities for growth in the global automotive passive electronic component market include the development of new technologies and the expansion into new markets.
Key trends in the global automotive passive electronic component market include the miniaturization of components and the integration of multiple functions into single components.
The global automotive passive electronic component market is expected to reach USD 54.6 billion by 2032.
