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2025: expect robust growth

MPD predicts the global market for electromechanical components is poised for significant growth in 2025, driven by advances in technology and demand for automation and digitalization.

According to Fortune Business Insights, the overall electronic components market, including electromechanical components, is projected to grow from USD 393.63 billion in 2024 to USD 847.88 billion by 2032, exhibiting a CAGR of 10.1 per cent during the forecast period.

While specific figures for electromechanical components are not isolated, this segment is expected to experience substantial growth due to its critical role in various applications, including automotive systems, industrial machinery and consumer electronics.

Fortune Business Insights also states the increasing integration of electronic components in vehicles, such as advanced driver-assistance systems (ADAS) and electric vehicle (EV) components, is boosting demand for electromechanical components. The automotive segment holds the highest market share in the electronic components market.

The rise of Industry 4.0 and the adoption of automation across manufacturing sectors are driving the need for reliable electromechanical components in machinery and control systems. Likewise, the proliferation of smartphones, wearable devices and smart home technologies continues to fuel demand for compact and efficient electromechanical components.

Beyond Market Insights says the Asia- Pacific region is expected to dominate the electronic components market, driven by rapid growth in the automotive and communication sectors. Countries like China, Japan and South Korea are significant contributors due to their strong manufacturing bases. The North America and European regions are also anticipated to witness steady growth, supported by advancements in technology and increasing adoption of automation across various industries.

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