Electrical And Electronics Components Market Outlook 2025-2034: Trends and Projections

What Is The Projected Market Size And Growth Rate Of The Global Electrical And Electronics Components Market?
The electrical and electronics components market size has grown rapidly in recent years. It will grow from $66.45 billion in 2024 to $73.84 billion in 2025 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to consumer electronics boom, automotive electronics growth, industrial automation, increased data storage needs, demand for energy-efficient devices.

The electrical and electronics components market size is projected to see a rapid growth in the near future. It will grow to $114.41 billion in 2029 at a CAGR of 11.6%. The growth in the forecast period can be attributed to the expansion of electric vehicles and charging infrastructure, edge computing enlargement, flexible and printed electronics, ever-growing cybersecurity demands, smart cities initiatives, and a shift towards sustainable and green electronics. Noteworthy trends in the forecast period include advanced semiconductor technologies, customization in component design, AI integration in component development, supply chain resilience and digitalization, and 5G technology deployment.

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What Are The Key Drivers of The Electrical And Electronics Components Market Growth?
The rising penetration of smartphones is anticipated to boost the growth of the electrical and electronics components market. Smartphones, being portable handheld devices used for various functions, have seen a surge in demand due to the increased accessibility of gadgets for entertainment and shopping such as laptops and smartphones. According to recent data published by Obrelo, a Lithuania-based e-commerce website, 96.1% of consumers will own a mobile phone in 2022. Further, 34% of the global populace own a tablet, followed by 59% of global consumers owning laptops and desktop computers. Therefore, the increase in smartphone penetration is a key driver of the electrical and electronics components market.

What Are The Major Segments of The Global Electrical And Electronics Components Market?

1) By Type: Passive, Active, Electro Mechanics
2) By End User: Consumer Electronics, Networking And Telecommunication, Automotive, Manufacturing, Aerospace And Defense, Healthcare, Other End Users

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Who Are The Major Players In The Electrical And Electronics Components Market?
Significant companies operating in the electrical and electronics components market include Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments Inc., Toshiba Corporation, Panasonic Corporation, Advanced Micro Devices Inc., Intel Corporation, Maxim Integrated Products Inc., Broadcom Inc., Qualcomm Inc., Analog Devices Inc., Microchip Technology Inc., Monolithic Power Systems Inc., Renesas Electronics Corporation, STMicroelectronics NV, Cypress Semiconductor Corporation, Honeywell International Inc., Tokyo Denki Kagaku Kōgyō K.K. Corporation, Vishay Intertechnology Inc., TE Connectivity Ltd., Smiths Interconnect Inc., Yamaichi Electronics Co Ltd., Enplas Corporation, Leeno industrial Inc., Rockwell Automation Inc., Idem Safety Switches Ltd., Asea Brown Boveri Ltd., EUCHNER GmbH + Co KG, Eaton Corporation plc, Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Woodward Inc., American Connectors Inc., Amphenol Industrial Products Group, Thomas & Betts Corporation, Mitsubishi Electric Corporation, Siemens AG.

What Key Trends Are Emerging In The Electrical And Electronics Components Market?
Technological advancement is a salient trend seen in the electrical and electronic components market. Notable companies in the market are investing in the development of new technological solutions to fortify their market presence. For instance, in March 2022, Odyssey Semiconductor Technologies, Inc., a New York-based semiconductor manufacturing company, introduced advanced vertical GaN power field-effect transistors (FETs), combining SiC’s higher voltage rating with GaN’s excellent conversion efficiency for ground-breaking performance in demanding applications.

Which Region Is The Fastest Growing In The Electrical And Electronics Components Market?
North America held the largest share in the electrical and electronics components market in 2024. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

What Does The Electrical And Electronics Components Market Report 2025 Offer?
Electrical and electronic components are fundamental discrete devices or physical objects in an electronic system, serving as the building blocks of electronic circuits. Their applicability spans across industries that require electronic components. The Electrical And Electronics Components Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

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