The rapid development and widespread application of AI technology, especially in cloud computing, the Internet of Things, and next-generation communication technologies, is actively driving the growth of the market demand for passive components.
In recent years, the rapid development of AI technology has had a profound impact on the passive component market. As an important carrier of AI technology, AI servers have a surge in demand for high-performance and high-reliability passive components. According to industry analysis, the consumption of passive components such as MLCCs (chip multilayer ceramic capacitors) for AI servers far exceeds that of traditional servers, and the demand for special specifications such as large capacity and high voltage is particularly prominent. This change in demand has not only driven the rapid growth of the passive components market, but also prompted manufacturers to accelerate the pace of technological upgrading and product innovation.
According to the analysis of Huajing Industry Research Institute, the demand for passive components continues to grow in many fields, especially in the diversification of 5G mobile phone functions, new energy vehicles and 5G base station construction. The capacitance of smartphones is expected to grow from 2,000 μF in 2015 to 4,000 μF in 2023, with a CAGR of 9.05%. At the same time, with the trend of electrification and intelligence of vehicles, the demand for high-performance passive components is also increasing.
In addition to the field of AI, the rise of the new energy vehicle market has also brought a new growth point to the passive component market. With the global emphasis on environmental protection and sustainable development, the new energy vehicle industry is developing at an unprecedented speed. As one of the core components of new energy vehicles, the demand for passive components in motors, batteries and other systems has increased significantly. At the same time, new energy vehicles have higher performance requirements for high temperature resistance and miniaturization of passive components, providing manufacturers with more market opportunities.
Figure: The recovery of the passive component market is actively driven by AI and other fields
In the recovery process of the passive component market, the performance of domestic manufacturers is particularly bright. In recent years, domestic passive component manufacturers have made significant progress in technology research and development, capacity expansion and raw material supply. With the rapid development of emerging fields such as new energy and AI, domestic manufacturers have gradually emerged in the international market by virtue of their cost-effective advantages and technological innovation capabilities. This not only increases the market share of domestic passive components, but also lays a solid foundation for the improvement and development of the domestic semiconductor industry chain.
Starting in the second half of 2023, the prosperity of electronic products will gradually pick up, and the high inventory situation of manufacturers and channels will be alleviated. In the first quarter of 2024, the profitability of some manufacturers has further improved, the inventory has been depleted, and the performance guidance is optimistic. The market expects that the demand for personal computers and servers will gradually pick up in mid-2024, and the implementation of AI applications will increase the number of passive components used in the whole machine, increase the proportion of precision components, and increase the unit value of components.
The development and application of AI technology has brought new growth drivers to the passive components market. With the advancement of technology and the increase in market demand, the passive component industry is expected to continue to maintain its growth momentum, especially in the development trend of miniaturization, high capacity and high reliability. Domestic manufacturers are playing an increasingly important role in this process and are expected to occupy a larger share of the global market.
