April 18, 2024
Crystal Oscillator Market

Crystal Oscillator Market Poised to Grow at 5.5% CAGR between 2024-2030 owing to Extensive Applications in Consumer Electronics

The crystal oscillator market has witnessed a significant growth owing to its wide applications across various industries such as consumer electronics, automotive, industrial, healthcare, and IT & telecommunication. Crystal oscillators are electronic devices that use the mechanical resonance of a vibrating crystal of piezoelectric material to create an electrical signal with a precise frequency. Oscillators serve as timing devices in many electronic systems and play a crucial role in many electronic devices such as computers, cellphones, and watches. The growing demand for miniaturized and energy-efficient electronic products has accelerated the adoption of crystal oscillators in various consumer electronic devices. Technological advancements in communication infrastructure have also led to an increased uptake of crystals oscillators in newer applications. The Global crystal oscillator market is estimated to be valued at US$ 2594.8 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2030.

Key Takeaways
Key players: Key players operating in the Global Crystal Oscillator Market Demand are Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd, Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environment, and Waste Management Inc. Biffa Plc and Clean Harbors Inc. collectively account for over 20% of the global market share.

Key opportunities: Advances in networking infrastructure and fifth generation network technology (5G) have opened promising growth avenues for crystal oscillators. The development of miniaturized and energy-efficient oscillators suitable for wearable devices also provides lucrative opportunities. Additionally, the adoption of crystal oscillators in automotive and industrial IoT applications is expected to drive the market.

Global Expansion: To capitalize on growth opportunities worldwide, leading crystal oscillator manufacturers have enhanced their global footprint through acquisitions and partnerships. For instance, Daiseki Co. Ltd. completed the acquisition of waste management companies in Europe in 2022 to expand overseas.Similarly, Biffa Plc has partnered with local players in Asia Pacific and North America to provide customized waste management solutions globally.

Market drivers: Growth of consumer electronics industry: Expanding middle-class population, rising disposable incomes, and rapid urbanization have augmented demand for consumer electronic products such as smartphones, TVs, laptops etc. This is creating significant demand for crystal oscillators.

Market restrain: Trade war between major economies: Ongoing trade war between some major economies such as US-China is causing an atmosphere of uncertainty. This can negatively impact the production, procurement of raw materials and sales of crystal oscillators if prolonged.

Segment Analysis
The Temperature Compensated Crystal Oscillators segment holds major share in crystal oscillator market currently. Temperature compensated crystal oscillators provide better frequency stability than other varieties by maintaining crystal oscillation frequency within a designed tolerance over a wide range of operating temperatures. They find wide use in telecommunication infrastructure equipment and other applications requiring high frequency accuracy. The Surface Mount Crystal Oscillators segment is also growing at a steady pace. Surface mount crystal oscillators provide competitive advantages of small size and easy mounting on circuit boards. Growing demand for miniaturization in various electronic devices is driving the segment growth.

Global Analysis
Asia Pacific region dominates the global crystal oscillator market currently. Rapid infrastructure development and growth of consumer electronics industry in countries like China, India, South Korea and others is driving the crystal oscillator demand. Along with telecom equipment manufacturing, consumer electronics like smartphones, smartwatches see extensive use of crystal oscillators. North America and Europe also hold sizable shares. However, future market growth is expected to come primarily from Asia Pacific region due to continued digital transformation and expanding middle class in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it