June 25, 2024
Crystal Oscillator Market

The Global Crystal Oscillator Market is projected to driven by Proliferation of Electronic Devices

Crystal oscillators are integral components used in electronic circuits to generate frequency reference signals for various electronic applications like cell phones, laptops, automotive systems, industrial equipment, and medical devices. They are compact electrical resonators that utilize the piezoelectric properties of quartz crystal to generate oscillations at a precise frequency. The growing demand for consumer electronics as well as increased electronic content in automobiles are major factors driving the need for crystal oscillators. Crystal oscillators deliver high stability and accuracy within a small package and do not require an external timing reference, which makes them highly suitable for portable and mobile 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 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One major trend gaining momentum in the crystal oscillator market is the growing adoption of temperature compensated crystal oscillators (TCXOs). TCXOs provide higher frequency stability than ordinary crystal oscillators over a wide range of operating temperatures. They offer drift rates less than one part per million (ppm) and are widely used in applications that require precision frequency references like telecom infrastructure equipment, GPS systems, test and measurement instruments, and industrial devices. Customized TCXO designs with specific drift characteristics are being developed to meet the exacting frequency stability requirements across diverse industry verticals. Manufacturers are also focusing on miniaturizing oscillator sizes through advanced microelectronic packaging while maintaining their stability and accuracy benefits. This is enabling the integration of crystal oscillators into smaller and more compact electronic circuit boards.

Porter’s Analysis

Threat of new entrants: The crystal oscillator market requires considerable investments in R&D for developing new products. Thus, the threat of new entrants entering the market is moderate to low.

Bargaining power of buyers: The crystal oscillator market has a large number of buyers with no single buyer accounting for a major share of demand. Hence, the bargaining power of buyers is low to moderate.

Bargaining power of suppliers: Key components required for developing crystal oscillators such as quartz, oscillator/clock/crystal manufacturing equipment suppliers have a global presence. Thus, the bargaining power of suppliers is moderate.

Threat of new substitutes: Alternative frequency sources such as atomic clocks and MEMS-based oscillators pose a threat to crystal oscillators. However, crystal oscillators currently have cost advantages. Thus, the threat of substitutes is moderate.

Competitive rivalry: The global crystal oscillator market is moderately fragmented with the presence of numerous global and regional players. Intense competition exists based on product quality, pricing, innovation, and customer relationships.

Key Takeaways

The Global Crystal Oscillator Market Size is expected to witness high growth. 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 2031.

Regional analysis: The Asia Pacific region is projected to be the fastest as well as largest growing regional market for crystal oscillators during the forecast period. This is driven by high demand from consumer electronics, automotive, industrial, and telecommunication applications. China dominates the Asia Pacific crystal oscillator market followed by Japan and South Korea.

Key players: Key players operating in the crystal oscillator market 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. are two of the largest players with wide geographical presence and service offerings.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it