diff --git a/tools/cmake/build.cmake b/tools/cmake/build.cmake
index 97c43e8a23..6cf9a73b55 100644
--- a/tools/cmake/build.cmake
+++ b/tools/cmake/build.cmake
@@ -195,7 +195,8 @@ function(__build_expand_requirements component_target)
     # Since there are circular dependencies, make sure that we do not infinitely
     # expand requirements for each component.
     idf_build_get_property(component_targets_seen __COMPONENT_TARGETS_SEEN)
-    if(component_target IN_LIST component_targets_seen)
+    __component_get_property(component_registered ${component_target} __COMPONENT_REGISTERED)
+    if(component_target IN_LIST component_targets_seen OR NOT component_registered)
         return()
     endif()
 
@@ -365,51 +366,13 @@ macro(idf_build_process target)
     # Check for required Python modules
     __build_check_python()
 
-    # Write the partial build properties to a temporary file.
-    # The path to this generated file is set to a short-lived build
-    # property BUILD_PROPERTIES_FILE.
-    idf_build_get_property(build_dir BUILD_DIR)
-    set(build_properties_file ${build_dir}/build_properties.temp.cmake)
-    idf_build_set_property(BUILD_PROPERTIES_FILE ${build_properties_file})
-    __build_write_properties(${build_properties_file})
+    idf_build_set_property(__COMPONENT_REQUIRES_COMMON ${target} APPEND)
+    __component_get_requirements()
 
     # Perform early expansion of component CMakeLists.txt in CMake scripting mode.
     # It is here we retrieve the public and private requirements of each component.
     # It is also here we add the common component requirements to each component's
     # own requirements.
-    idf_build_get_property(component_targets __COMPONENT_TARGETS)
-    idf_build_set_property(__COMPONENT_REQUIRES_COMMON ${target} APPEND)
-    idf_build_get_property(common_reqs __COMPONENT_REQUIRES_COMMON)
-    foreach(component_target ${component_targets})
-        get_property(component_dir TARGET ${component_target} PROPERTY COMPONENT_DIR)
-        __component_get_requirements(error reqs priv_reqs ${component_dir})
-        if(error)
-            message(FATAL_ERROR "${error}")
-        endif()
-
-        list(APPEND reqs "${common_reqs}")
-
-        # Remove duplicates and the component itself from its requirements
-        __component_get_property(alias ${component_target} COMPONENT_ALIAS)
-        __component_get_property(_name ${component_target} COMPONENT_NAME)
-
-        # Prevent component from linking to itself.
-        if(reqs)
-            list(REMOVE_DUPLICATES reqs)
-            list(REMOVE_ITEM reqs ${alias} ${_name})
-        endif()
-
-        if(priv_reqs)
-            list(REMOVE_DUPLICATES priv_reqs)
-            list(REMOVE_ITEM priv_reqs ${alias} ${_name})
-        endif()
-
-        __component_set_property(${component_target} REQUIRES "${reqs}")
-        __component_set_property(${component_target} PRIV_REQUIRES "${priv_reqs}")
-    endforeach()
-    idf_build_unset_property(BUILD_PROPERTIES_FILE)
-    file(REMOVE ${build_properties_file})
-
 
     # Finally, do component expansion. In this case it simply means getting a final list
     # of build component targets given the requirements set by each component.
@@ -431,6 +394,7 @@ macro(idf_build_process target)
 
     # Get a list of common component requirements in component targets form (previously
     # we just have a list of component names)
+    idf_build_get_property(common_reqs __COMPONENT_REQUIRES_COMMON)
     foreach(common_req ${common_reqs})
         __component_get_target(component_target ${common_req})
         __component_get_property(lib ${component_target} COMPONENT_LIB)
diff --git a/tools/cmake/component.cmake b/tools/cmake/component.cmake
index b3dd460c83..6caca93a74 100644
--- a/tools/cmake/component.cmake
+++ b/tools/cmake/component.cmake
@@ -125,6 +125,23 @@ function(__component_dir_quick_check var component_dir)
     set(${var} ${res} PARENT_SCOPE)
 endfunction()
 
+#
+# Write a CMake file containing all component and their properties. This is possible because each component
+# keeps a list of all its properties.
+#
+function(__component_write_properties output_file)
+    idf_build_get_property(component_targets __COMPONENT_TARGETS)
+    foreach(component_target ${component_targets})
+        __component_get_property(component_properties ${component_target} __COMPONENT_PROPERTIES)
+        foreach(property ${component_properties})
+            __component_get_property(val ${component_target} ${property})
+            set(component_properties_text
+                "${component_properties_text}\nset(__component_${component_target}_${property} ${val})")
+        endforeach()
+        file(WRITE ${output_file} "${component_properties_text}")
+    endforeach()
+endfunction()
+
 #
 # Add a component to process in the build. The components are keeped tracked of in property
 # __COMPONENT_TARGETS in component target form.
@@ -184,44 +201,35 @@ endfunction()
 # Given a component directory, get the requirements by expanding it early. The expansion is performed
 # using a separate CMake script (the expansion is performed in a separate instance of CMake in scripting mode).
 #
-function(__component_get_requirements error requires_var priv_requires_var component_dir)
+function(__component_get_requirements)
     idf_build_get_property(idf_path IDF_PATH)
-    idf_build_get_property(build_properties_file BUILD_PROPERTIES_FILE)
-    idf_build_get_property(idf_target IDF_TARGET)
 
-    # This function assumes that the directory has been checked to contain a component, thus
-    # no check is performed here.
+    idf_build_get_property(build_dir BUILD_DIR)
+    set(build_properties_file ${build_dir}/build_properties.temp.cmake)
+    set(component_properties_file ${build_dir}/component_properties.temp.cmake)
+    set(component_requires_file ${build_dir}/component_requires.temp.cmake)
+
+    __build_write_properties(${build_properties_file})
+    __component_write_properties(${component_properties_file})
+
     execute_process(COMMAND "${CMAKE_COMMAND}"
-        -D "IDF_PATH=${idf_path}"
-        -D "IDF_TARGET=${idf_target}"
-        -D "COMPONENT_DIR=${component_dir}"
         -D "BUILD_PROPERTIES_FILE=${build_properties_file}"
-        -D "CMAKE_BUILD_EARLY_EXPANSION=1"
+        -D "COMPONENT_PROPERTIES_FILE=${component_properties_file}"
+        -D "COMPONENT_REQUIRES_FILE=${component_requires_file}"
         -P "${idf_path}/tools/cmake/scripts/component_get_requirements.cmake"
         RESULT_VARIABLE result
         ERROR_VARIABLE error
         )
 
     if(NOT result EQUAL 0)
-        set(error "${error}" PARENT_SCOPE)
-        return()
+        message(FATAL_ERROR "${error}")
     endif()
 
-    string(REGEX REPLACE ";" "\\\\;" _output "${error}")
-    string(REGEX REPLACE "\n" ";" _output "${_output}")
-    list(REVERSE _output)
+    include(${component_requires_file})
 
-    if(_output)
-        list(GET _output 1 _output)
-
-        string(REGEX MATCH "\(.*\):::\(.*\)" _output "${_output}")
-
-        string(REPLACE ":" ";" requires "${CMAKE_MATCH_1}")
-        string(REPLACE ":" ";" priv_requires "${CMAKE_MATCH_2}")
-    endif()
-
-    set(${requires_var} ${requires} PARENT_SCOPE)
-    set(${priv_requires_var} ${priv_requires} PARENT_SCOPE)
+    file(REMOVE ${build_properties_file})
+    file(REMOVE ${component_properties_file})
+    file(REMOVE ${component_requires_file})
 endfunction()
 
 # __component_add_sources, __component_check_target
diff --git a/tools/cmake/scripts/component_get_requirements.cmake b/tools/cmake/scripts/component_get_requirements.cmake
index 8223f709be..0b0d18727e 100644
--- a/tools/cmake/scripts/component_get_requirements.cmake
+++ b/tools/cmake/scripts/component_get_requirements.cmake
@@ -1,10 +1,5 @@
-include(${IDF_PATH}/tools/cmake/utilities.cmake)
-
 include("${BUILD_PROPERTIES_FILE}")
-include("${SDKCONFIG_CMAKE}")
-
-macro(require_idf_targets)
-endmacro()
+include("${COMPONENT_PROPERTIES_FILE}")
 
 function(idf_build_get_property var property)
     cmake_parse_arguments(_ "GENERATOR_EXPRESSION" "" "" ${ARGN})
@@ -12,17 +7,20 @@ function(idf_build_get_property var property)
         message(FATAL_ERROR "Getting build property generator expression not
                 supported before idf_component_register().")
     endif()
-    set(${var} ${property} PARENT_SCOPE)
+    set(${var} ${${property}} PARENT_SCOPE)
 endfunction()
 
-function(print_requires requires priv_requires)
-    spaces2list(requires)
-    spaces2list(priv_requires)
-    string(REPLACE ";" ":" requires "${requires}")
-    string(REPLACE ";" ":" priv_requires "${priv_requires}")
-    message("${requires}:::${priv_requires}")
+idf_build_get_property(idf_path IDF_PATH)
+include(${idf_path}/tools/cmake/utilities.cmake)
+
+function(__component_get_property var component_target property)
+    set(_property __component_${component_target}_${property})
+    set(${var} ${${_property}} PARENT_SCOPE)
 endfunction()
 
+macro(require_idf_targets)
+endmacro()
+
 macro(idf_component_register)
     set(options)
     set(single_value)
@@ -30,14 +28,16 @@ macro(idf_component_register)
                     INCLUDE_DIRS PRIV_INCLUDE_DIRS LDFRAGMENTS REQUIRES
                     PRIV_REQUIRES REQUIRED_IDF_TARGETS EMBED_FILES EMBED_TXTFILES)
     cmake_parse_arguments(_ "${options}" "${single_value}" "${multi_value}" "${ARGN}")
-    print_requires("${__REQUIRES}" "${__PRIV_REQUIRES}")
-    set(__is_component 1)
+    set(__component_requires "${__REQUIRES}")
+    set(__component_priv_requires "${__PRIV_REQUIRES}")
+    set(__component_registered 1)
     return()
 endmacro()
 
 macro(register_component)
-    print_requires("${COMPONENT_REQUIRES}" "${COMPONENT_PRIV_REQUIRES}")
-    set(__is_component 1)
+    set(__component_requires "${COMPONENT_REQUIRES}")
+    set(__component_priv_requires "${COMPONENT_PRIV_REQUIRES}")
+    set(__component_registered 1)
     return()
 endmacro()
 
@@ -45,5 +45,55 @@ macro(register_config_only_component)
     register_component()
 endmacro()
 
-set(CMAKE_BUILD_EARLY_EXPANSION)
-include(${COMPONENT_DIR}/CMakeLists.txt OPTIONAL)
+idf_build_get_property(__common_reqs __COMPONENT_REQUIRES_COMMON)
+idf_build_get_property(__component_targets __COMPONENT_TARGETS)
+
+function(__component_get_requirements)
+    # This is in a function (separate variable context) so that variables declared
+    # and set by the included CMakeLists.txt does not bleed into the next inclusion.
+    # We are only interested in the public and private requirements of components
+    __component_get_property(__component_dir ${__component_target} COMPONENT_DIR)
+    include(${__component_dir}/CMakeLists.txt OPTIONAL)
+
+    spaces2list(__component_requires)
+    spaces2list(__component_priv_requires)
+
+    set(__component_requires "${__component_requires}" PARENT_SCOPE)
+    set(__component_priv_requires "${__component_priv_requires}" PARENT_SCOPE)
+    set(__component_registered ${__component_registered} PARENT_SCOPE)
+endfunction()
+
+set(CMAKE_BUILD_EARLY_EXPANSION 1)
+foreach(__component_target ${__component_targets})
+    set(__component_requires "")
+    set(__component_priv_requires "")
+    set(__component_registered 0)
+
+    __component_get_requirements()
+
+    list(APPEND __component_requires "${__common_reqs}")
+
+    # Remove duplicates and the component itself from its requirements
+    __component_get_property(__component_alias ${__component_target} COMPONENT_ALIAS)
+    __component_get_property(__component_name ${__component_target} COMPONENT_NAME)
+
+    # Prevent component from linking to itself.
+    if(__component_requires)
+        list(REMOVE_DUPLICATES __component_requires)
+        list(REMOVE_ITEM __component_requires ${__component_alias} ${__component_name})
+    endif()
+
+    if(__component_requires)
+        list(REMOVE_DUPLICATES __component_priv_requires)
+        list(REMOVE_ITEM __component_priv_requires ${__component_alias} ${__component_name})
+    endif()
+
+    set(__contents
+"__component_set_property(${__component_target} REQUIRES \"${__component_requires}\")
+__component_set_property(${__component_target} PRIV_REQUIRES \"${__component_priv_requires}\")
+__component_set_property(${__component_target} __COMPONENT_REGISTERED ${__component_registered})"
+    )
+    set(__component_requires_contents "${__component_requires_contents}\n${__contents}")
+endforeach()
+
+file(WRITE ${COMPONENT_REQUIRES_FILE} "${__component_requires_contents}")
\ No newline at end of file