General Electronic Components Market In 2029
General Electronic Components Market Forecast
General Electronic Components Market Report
General Electronic Components Market Size
The Business Research Company’s General Electronic Components Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, December 31, 2025 /EINPresswire.com/ -- General Electronic Components Market to Surpass $482 billion in 2029. In comparison, the Semiconductor And Other Electronic Component market, which is considered as its parent market, is expected to be approximately $1,546 billion by 2029, with General Electronic Components to represent around 31% of the parent market. Within the broader Electrical And Electronics industry, which is expected to be $5,240 billion by 2029, the General Electronic Components market is estimated to account for nearly 9% of the total market value.
Which Will Be the Biggest Region in the General Electronic Components Market in 2029
Asia-Pacific will be the largest region in the general electronic components market in 2029, valued at $263,263 million. The market is expected to grow from $174,988 million in 2024 at a compound annual growth rate (CAGR) of 9%. The strong growth can be attributed to the increasing data centres and growing demand for electric and hybrid vehicles.
Which Will Be The Largest Country In The Global General Electronic Components Market In 2029?
The USA will be the largest country in the general electronic components market in 2029, valued at $121,226 million. The market is expected to grow from $88,927 million in 2024 at a compound annual growth rate (CAGR) of 6%. The strong growth can be attributed to the increasing data centres and expanding smart grid and renewable energy integration.
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What will be Largest Segment in the General Electronic Components Market in 2029?
The general electronic components market is segmented by product type into passive, active, electromechanical components and other products. The electromechanical components market will be the largest segment of the general electronic components market segmented by product type, accounting for 51% or $244,310 million of the total in 2029. The electromechanical components market will be supported by rising demand for connectors and relays in automotive safety and infotainment systems, increasing use in communication infrastructure including 5G networks, widespread integration in industrial machinery and robotics for precise control, expanding aerospace and defence applications requiring rugged and reliable systems, growing automation in residential and commercial buildings, demand for tactile user interfaces in consumer devices and advancements in component durability and efficiency.
The general electronic components market is segmented by end-use industry into aerospace, communication, automotive and other end-user industries. The other end use industries market will be the largest segment of the general electronic components market segmented by end-use industry, accounting for 79% or $379,842 million of the total in 2029. The other end use industries market will be supported by growing usage in consumer electronics like smart appliances and wearables, rising demand in industrial automation and process control, expansion of healthcare electronics for diagnostics and monitoring, development of smart agriculture and environmental sensors, increasing integration in education and research equipment, adoption in defence and security monitoring systems and customization for niche industrial needs.
The general electronic components market is segmented by sales into aftermarket and manufacturer/ distributor/service provider. The manufacturer/distributor/service provider market will be the largest segment of the general electronic components market segmented by sales, accounting for 96% or $460,573 million of the total in 2029. The manufacturer/distributor/service provider market will be supported by continuous innovations in design and integration services, increasing B2B demand for bulk component procurement, rising partnerships with OEMs for direct supply chains, growth of contract manufacturing and EMS providers, emphasis on quality assurance and global compliance standards, expansion into emerging markets through distributors and development of digital supply chain and logistics platforms.
What is the expected CAGR for the General Electronic Components Market leading up to 2029?
The expected CAGR for the general electronic components market leading up to 2029 is 8%.
What Will Be The Growth Driving Factors In The Global General Electronic Components Market In The Forecast Period?
The rapid growth of the global general electronic components market leading up to 2029 will be driven by the following key factors that are expected to reshape manufacturing efficiency, product innovation, and global supply chain resilience.
Growing Demand For Electric And Hybrid Vehicles- The growing demand for electric and hybrid vehicles will become a key driver of growth in the general electronic components market by 2029. Electric vehicles (EVs) are automobiles that are powered entirely or primarily by electricity stored in rechargeable batteries. Hybrid vehicles combine a conventional internal combustion engine with one or more electric motors and a battery pack to improve fuel efficiency and reduce emissions. EVs and hybrids require a wide array of sophisticated electronic components including battery management systems, power electronics, inverters, sensors, advanced driver-assistance systems (ADAS) and semiconductor chips—that are integral to their performance, safety and efficiency. As electric vehicles can contain up to three times as many semiconductors as traditional cars, manufacturers of electronic components are witnessing a rapid increase in orders and market value. As a result, the growing demand for electric and hybrid vehicles is anticipated to contributing to a 1.5% annual growth in the market.
Expansion Of Smart Grid And Renewable Energy Integration- The expansion of smart grid and renewable energy integration will emerge as a major factor driving the expansion of the general electronic components market by 2029. Smart grids rely on advanced electronic components such as sensors, inverters, converters and smart meters to enable real-time monitoring, seamless communication and efficient management of electricity flow. The increasing deployment of renewables like solar and wind power necessitates electronic devices (e.g., high-efficiency inverters and controllers) to convert, store and distribute variable energy outputs to the grid with minimal losses. As governments intensify decarbonization efforts, the need for sophisticated electronic components to support bidirectional energy flow, grid stability and integration of distributed energy resources continues to surge, cementing electronics as a foundational pillar of the future energy ecosystem. Consequently, the accelerating expansion of smart grid and renewable energy integration capabilities is projected to contributing to a 1.1% annual growth in the market.
Increasing Data Centres - The increasing data centres processes will serve as a key growth catalyst for the general electronic components market by 2029, A data centre is a specialized physical facility ranging from a single room to a large building or multiple buildings designed to house and manage computer systems, servers, networking equipment and storage infrastructure critical to an organization's IT operations. Data centres require vast quantities of advanced electronic components including semiconductors, servers, storage, networking equipment, power electronics and cooling systems to meet the escalating demands for data processing and storage, especially in the era of AI and high-performance computing. As computing demand rises, so does the need for microprocessors, memory chips, integrated circuits and robust power management devices, supporting both the active and passive electronic components sectors. Therefore, this increasing data centres operations is projected to supporting to a 0.9% annual growth in the market.
Rising Demand For Low-Power And High-Efficiency Electronic Components - The rising demand for low-power and high-efficiency electronic components will become a significant driver contributing to the growth of the general electronic components market by 2029. Across industries such as automotive, telecommunications, consumer electronics and industrial automation, there is increasing pressure to reduce energy consumption while improving device performance and reliability. This is fueling the development and adoption of components that consume less power but deliver higher efficiency, such as silicon carbide (SiC) and gallium nitride (GaN) semiconductors, advanced power modules and miniaturized integrated circuits. Moreover, governments and international organizations are promoting energy-efficient technologies as part of global climate goals, encouraging industries to adopt these components to lower operational costs and environmental impact. Consequently, the rising demand for low-power and high-efficiency electronic components strategies is projected to contributing to a 0.7% annual growth in the market.
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What Are The Key Growth Opportunities In The General Electronic Components Market in 2029?
The most significant growth opportunities are anticipated in the electronic and electromechanical components market, the general electronic components for industrial end-use market, and the general electronic components manufacturing and services market. Collectively, these segments are projected to contribute over $344 billion in market value by 2029, driven by rapid advancements in component miniaturization, rising demand for high-performance electronics, and expanding adoption across automotive, industrial automation, energy, and consumer device ecosystems. This surge reflects the accelerating shift toward smarter, more efficient electronic systems that enable higher reliability, improved power efficiency, and scalable production capabilities, fueling transformative growth across the broader general electronic components landscape.
The general electronic components manufacturing and services market is projected to grow by $141,790 million, the general electronic components and industrial end-use market by $122,078 million, and the electronic and electromechanical components market by $80,100 million over the next five years from 2024 to 2029.
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