General Electronic Components Global Market Report 2024

The general electronic components market size has grown strongly in recent years. It will grow from $514.79 billion in 2023 to $550.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed in the historical period can be ascribed to an increase in disposable income, greater internet penetration, a low-interest-rate environment, and heightened investments.

The general electronic components market size is expected to see strong growth in the next few years. It will grow to $708.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be linked to an increasing demand for electronic components in display devices, a rise in the demand for the Internet of Things (IoT), and the creation of financially rewarding opportunities. Major trends expected in the forecast period include 3D printed electronic components, an increase in merger and acquisition activities, the integration of artificial intelligence and machine learning in electronic components manufacturing, the adoption of modular connector systems for transportation applications, and a rise in collaborations and partnerships.

The anticipated growth in the general electronic components market is expected to be driven by the increasing demand for microwave tubes, cathode-ray tubes, X-ray tubes, photoelectric tubes, and triodes in display devices during the forecast period. Display devices, serving as output devices that provide information in visual form, are witnessing a surge in demand, particularly with the proliferation of smart devices. This trend is creating numerous opportunities for the growth of the electronic component market across various applications, including satellite and space technology, automotive, military applications, and the Internet of Things (IoT). In the Asia-Pacific region, China leads the market, boasting the presence of major chip designers, chipmakers, and critical components utilized in laptops, smartphones, and IoT applications.

The increasing deployment of satellites is poised to drive the future growth of the general electronic components market. Satellites, launched into space to orbit the Earth and collect data, rely on essential subsystems, materials, and components provided by companies such as General Electric. This facilitates satellite manufacturing by ensuring that these components meet the specific demands of space environments. For instance, in 2021, a record-breaking 146 orbital launches occurred, resulting in the deployment of 1,851 spacecraft - a remarkable 44% increase from the previous year. Therefore, the escalating number of satellites is a key factor propelling the growth of the general electronic components market.

The growth of the general electronic components market is significantly influenced by the adoption of the Internet of Things (IoT), representing a key trend in recent years. The IoT has witnessed substantial expansion, providing a platform for communication and connection among diverse devices, including fitness watches, smartphones, and smart meters. General electronic components such as resistors, transistors, capacitors, and diodes play a crucial role in the fabrication of smart devices, sensors, and actuators that establish interconnectivity. According to IoT Analytics, global IoT connections experienced an 18% growth in 2022, reaching 14.3 billion active IoT endpoints. Projections indicate that there will be over 30 billion IoT connections, averaging approximately 4 IoT devices per person, by 2025, highlighting a substantial demand for IoT devices.

Major companies engaged in the general electronic component market are actively pursuing innovative solutions to fortify their market presence. Innovative diode solutions involve the application of advanced diode technologies to address challenges and create opportunities across various industries. For example, in May 2023, Littelfuse Inc., a US-based electronics company, introduced the LTKAK2-L series high-power TVS diodes in a surface-mount package. The LTKAK2-L Series TVS Diodes, designed for compatibility with automated PCB assembly methods, come in a compact surface-mount package. This smaller solution, housed in a modified SMTO-218 package, allows designers to achieve robust circuit protection while utilizing less PCB area compared to axial leaded alternatives. With a surge current rating of 2 kA, these diodes enable designs to meet IEC-61000-4-5 Level 4 criteria, providing protection for a broad range of high-reliability AC and DC power supplies and applications.

Major companies operating in the general electronic components market report are Murata Manufacturing Co., Ltd., STMicroelectronics, Infineon Technologies, TE Connectivity, TDK Corporation, Yageo Corporation, Amphenol Corporation, Vishay Intertechnology, Texas Instruments, Analog Devices, Inc., Fairchild Semiconductor, EPCOS, API Technologies, Siemens Ltd., Bosch Ltd., ABB India Ltd., Crompton Greaves Ltd., Exide Industries Ltd., Bharat Electronics Ltd., Sterlite Technologies Ltd., Amar Raja Batteries Ltd., Surya Roshini Ltd., Finolex Cables Ltd., Qualcomm India Pvt Ltd., Honey well Automations India Ltd., 3M India Ltd., V Guard Industries Ltd., Schmersal India Private Limited, Svel Sensors & Controls Private Limited, Medical Sensors India Private Limited, Turck India Automation Private Limited, AAC Technologies, China Electronics Cooperation, Fujian Jinhua Integrated Circuit, Suzhou Orientation Semiconductors, Western Digital , Seagate Technology, Toshiba, Xiaomi Corporation, Meizu Technology Co., Ltd., Konka Group Co., Ltd , Hisense Group, Kyocera, Panasonic Corporation, Renesas Electric Corporation, Hitachi, Agilent Technologies Japan, Selko Epson, Yamaha, NEC, Fujitsu Components , Sharp, Sanyo, Pioneer , Slovakia, Sony, Foxconn and Daimler, Peugot, Prestigio Technologies, King Brother, JSC Eltech-SPb, Crocus nano Electronics, Korona Semiconductor, Rohm Semiconductors, Maxim Integrated Products Inc., Arrow Electronics, ON Semiconductor Corporation, New York Semiconductor, Rochester Electronics, Gama Electronics, AVX Corporation , Eaton Corp, Advanced Micro Devices, Smart Modular Technologies, IntelBras, Tecsys, The Leadership Group, Multilaser, Flextronics, LG, Digitron, Foto Electronica Beta Srl, AUTER, Ducasse Comercial Ltd., Tekemi, Videocorp, Satelinx Ingeniería Limited, Linktronic , Arabian Power Electronics Company, Leap Technologies FZC, United Transformers Electric, Electro Power Systems, Electro Mechanical Company LLC, Avnet South Africa, Samsung Electronics, Electrocomp (PTY) Ltd


Asia-Pacific was the largest region in the general electronic components market in 2023. North America was the second-largest region in the global general electronic components market share. The regions covered in the general electronic components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the general electronic components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain. The general electronic components market consists of sales of resistor, capacitor, transistor, and other components. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary types of general electronic components include passive components, active components, electromechanical components, and others. Electromechanical components utilize electrical signals to induce mechanical changes, such as the rotation of a motor. The generation of a magnetic field by an electrical current leads to physical movement. These products are distributed through aftermarket channels and manufacturer/distributor/service providers, catering to end users in industries such as aerospace, communication, automotive, and more.

The general electronic components market research report is one of a series of new reports that provides general electronic components market statistics, including general electronic components industry global market size, regional shares, competitors with a general electronic components market share, detailed general electronic components market segments, market trends and opportunities, and any further data you may need to thrive in the general electronic components industry. This general electronic components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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