Market and Technology Trends

Passive Components for Power Converters 2022

By Yole Intelligence

Continuous growth (CAGR 2021-2027: 8%) of the market for passive components will drive supply chain consolidation


  • Market forecast 2021-2027 in $M and units for capacitors, inductors, transformers, resistors, and laminated busbars
  • Market evolution analysis for these passive components in EV/HEV, photovoltaics, wind turbines, rail traction, UPS, and industrial motor drives
  • Passive component manufacturer landscape, supply chains and market shares
  • Presentation of the main technologies, innovations and challenges for capacitors, magnetics, resistors, and laminated busbars
  • Passive components demand and shortage analysis
  • Focus on how new trends including higher temperatures and higher switching frequencies at system level will impact the requirements for passive components
  • Analysis of the presence, functionality, and trends for passive components in power converters
  • Future technology roadmaps


  • The passive component market is over 15% of the size of the converter market, reaching $7.4B in 2021
  • The EV/HEV industry will drive a remarkable expansion of the capacitor, inductor, and transformer markets over the next five years, with a CAGR 2021-2027 exceeding 18%
  • The laminated busbar market for the rail industry represents over $75M
  • Nippon Chemi-Con, Nichicon, Rubycon, and Panasonic are the top electrolytic capacitor manufacturers, and Panasonic, TDK/Epcos, Nichicon, and Vishay are top film capacitor manufacturers
  • Rogers Corporation and Mersen are the leading laminated busbar manufacturers
  • In the power capacitor industry, film technology continues to be the mainstream
  • The specific requirements of passive components for automotive applications, such as vibration tolerance, downsizing, high-temperature tolerance, high reliability, and better thermal management, offer the opportunity for passive component manufacturers to improve their market position by providing solutions adapted to continuously evolving customer needs


  • Identify and analyze the main market segments for different passive devices
  • Analyze the dynamics of different markets and provide insight into drivers, restraints and challenges
  • Analyze the supply chain structure and evolution, and identify the key players. Provide an insight into vertical and horizontal integration trends, recent investments and M&A.
  • Provide a clear overview of current passive component technologies.
  • Highlight the main challenges and proposed innovations.

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