Structural Components Market is predicted to reach at a CAGR of 6.3% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Structural Components Market”.

The Structural Components market is estimated to register a CAGR of 6.3% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Structural Components market— TactoTek Oy, Canatu Oy, Neotech AMT GmbH, Pulse Electronics (a Yageo Company), T-ink Inc., Molex LLC, and Panasonic Corporation, Odyssian Technology LLC, Optomec Inc., and Aconity3D GmbH

Market Highlights

The global structural components market is accounted to register a CAGR of 6.3% during the forecast period and is estimated to reach USD 12346.4 Million by 2032.

One of the main reasons propelling the expansion of the automatic power factor controller market is the increasing necessity for these devices across a range of end-user industries. The substantial expense of maintaining autonomous power factor controllers is impeding the market's growth. The industry is expected to benefit greatly from the manufacturers' increasing investments in innovation and improvements, which will accelerate the growth rate of the automatic power factor controller market.

Segment Analysis

The global structural components market has been segmented based on application.

Based on application, the global structural components market has been segmented into automotive, aerospace, consumer electronics, healthcare, and other applications. The aerospace segment was expected to hold the largest market share in 2022. This is due to the circumstances that airplanes encounter, which includes high pressure, air currents, and speed.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Structural Components Market Research Report

Regional Analysis

The global Structural Components market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Structural Components market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Structural Components market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Structural Components market comprises of Middle East, Africa, and Latin America.

The largest market share for Structural Components was maintained by the North American regional sector. This increase is attributed to the region's greater use of structural electronics can be linked to the strong uptake of these items in conductors, solar devices, and sensors used in luxury automobiles and spacecraft. In the US, structural electronics has advanced significantly and is backed by significant R&D efforts. For instance, the NextFlex research center was established with approximately USD 165 million in private and public funding to advance the technology that combines flexible substrates, printed circuits, and thinner silicon die.

Moreover, the Europe market has been persistently growing over the forecast period. The region is seeing an increase in the requirement to create an autonomous power factor improvement system because low power factor overloads power grids and transmission lines. Automatic power factor controllers are a viable solution for meeting this requirement.  In the foreseeable future, this region's need for automatic power factor controllers is anticipated to grow at a very rapid rate.

Additionally, because of the region's development of cutting-edge infrastructure, Furthermore, the fast industrialization and urbanization are driving the growth of the regional market. For instance, the Indian government claimed that it will increase the country's electric vehicle sales through the provision of subsidies. The Asia Pacific market will benefit from a growing emphasis on environmentally friendly energy sources.

Furthermore, the rest of the world's Structural Components market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising use of electric vehicles and hydrogen production research and development. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global structural components market is expected to reach USD 12346.4 Million by 2032, at a CAGR of 6.3% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the increasing emphasis placed on green energy and carbon emission reduction by government bodies through policies and initiatives


• Based on application, the aerospace segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.


• TactoTek Oy, Canatu Oy, Neotech AMT GmbH, Pulse Electronics (a Yageo Company), T-ink Inc., Molex LLC, Panasonic Corporation, Odyssian Technology LLC, Optomec Inc., and Aconity3D GmbH.