Product Code: ETC361404 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India active electronic components market import shipments demonstrated robust growth with a strong CAGR of 22.8% from 2020 to 2024, indicating expanding market dynamics. The growth rate between 2023 and 2024 slightly moderated to 12.3%, suggesting a stable trajectory with sustained momentum towards the end of the period.
The India active electronic components market was estimated to be worth around USD 3 billion and is expected to grow at a CAGR of 12% over the forecast period. This growth can be primarily attributed to increasing demand from industrial automation & process control systems, consumer electronics & white goods industries due to increased production across these segments along with government initiatives such as Make in India encouraging investments into electronics manufacturing activities within the country. Additionally, advancements in technology have led companies towards adopting premium quality components leading towards rise in component prices while also providing more options for customers looking for cheaper alternatives hence driving up overall industry revenue figures significantly.
The active electronic components market in India is experiencing substantial growth due to the rapid expansion of the electronics industry. The increasing adoption of consumer electronics, smartphones, and other smart devices is driving the demand for active electronic components such as transistors, integrated circuits, and microcontrollers. Moreover, the growth of the automotive electronics sector and the rising use of advanced technologies in sectors like healthcare and telecommunications are further contributing to market expansion. Additionally, government initiatives promoting local manufacturing and investments in electronics manufacturing units are boosting the market`s prospects.
The India active electronic components market encounters several challenges in the dynamic electronics industry. One of the primary challenges is the rapid pace of technological advancements, which demands constant innovation and updates in active electronic components. Manufacturers must keep up with the latest developments in semiconductors, integrated circuits, and other active components to remain competitive in the market. Moreover, the complexity of electronic systems and the integration of active components into various devices require meticulous testing and quality assurance. Ensuring reliability and performance while keeping production costs in check is a challenge faced by active electronic component manufacturers. The global semiconductor supply chain`s disruptions, as witnessed during the COVID-19 pandemic, also highlight the challenge of maintaining a stable supply of components in the face of unforeseen events. Additionally, the presence of counterfeit electronic components in the market poses risks to product quality and end-user safety, demanding stringent measures to combat counterfeiting and ensure genuine component sourcing. The India active electronic components market can overcome these challenges by investing in R&D capabilities, forming strategic partnerships with global manufacturers, implementing robust quality control measures, and enhancing supply chain resilience.
During the COVID-19 pandemic, the active electronic components market in India faced challenges due to supply chain disruptions and manufacturing shutdowns. The increased demand for electronic devices for remote work, online education, and entertainment drove the market, but component shortages and logistic bottlenecks posed challenges. Despite the temporary setbacks, the market witnessed growth as the demand for consumer electronics and automotive electronics continued to rise, fueled by the shift towards digitization and smart technologies.
In the India active electronic components market, several key players contribute to the supply of electronic components used in various applications. Texas Instruments India Pvt. Ltd. is a significant player known for its wide range of analog and digital semiconductor products. They cater to industries such as automotive, consumer electronics, and industrial automation. Another major player, STMicroelectronics India Pvt. Ltd., offers a comprehensive portfolio of active electronic components, including microcontrollers, sensors, and power management solutions. They serve sectors like telecommunications, healthcare, and energy management. Infineon Technologies India Pvt. Ltd. is also a key player in the market, providing semiconductor solutions for automotive electronics, power electronics, and industrial applications. These key players actively collaborate with original equipment manufacturers (OEMs), design houses, and research institutions to drive innovation and address the evolving needs of the India electronics industry. Their commitment to quality and technological advancements has established them as influential players in the India active electronic components market.