Through-hole Passive Components Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is anticipated to hold largest revenue share of 44% by 2035. The Asia Pacific region is experiencing significant growth in the market due to the implementation of various modules in industries including automotive, consumer electronics, and industrial applications.
The rapid adoption of robotic processes in countries such as Japan, South Korea, India, and China across various industries, particularly in the automotive and consumer electronics sectors, is driving the demand for these modules throughout the region. The government initiatives being taken in the Asia Pacific, such as India’s Scheme for Manufacturing Electronic Components and Semiconductors, which provides incentives to manufacturers, are expected to play a crucial role in fostering the growth of the market in the upcoming years.
North American Market Insights
North American region through-hole passive components market is set to attain significant revenue share during the forecast period. North America has a strong industrial sector that includes manufacturing, automation, aerospace, defense, and energy industries. These industries rely heavily on through-hole components for various applications such as machinery control, power electronics, robotics, and infrastructure development.
The growing innovation and expansion in these sectors drive the demand for these modules in the North American region. The automotive industry plays a significant role in the North American through-hole components market. The region hosts many automobile manufacturers, and through-hole components are extensively used in automotive electronics and systems. The rising usage of advanced driver assistance systems (ADAS), electric vehicles (EVs), and connectivity features in vehicles also contributes to the increase in demand for through-hole components in the automotive sector. According to estimates, 4.5 million out of 15.07 million vehicles sold in North America in 2021 had some form of ADAS technology.
