Chip Resistor Market Size & Share to Surpass $2.0 Billion by 2028 | Vantage Market Research

WASHINGTON, Jan. 23, 2023 (GLOBE NEWSWIRE) — Global Chip Resistor Market is valued at USD 1.5 Billion in 2021 and is projected to reach a value of USD 2.0 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.70% over the forecast period 2022-2028.   

Market Overview

According to Vantage Market Research, key factors are anticipated to accelerate the Chip Resistor market growth over the forecast period. The rising digitalization of various global sectors is a major driver of Chip Resistor market growth. Due to developments in sensors, data capture, robots, computer power, and networking, companies can upgrade their materials to improve their production, service, and supply chains. The market for Chip Resistors is also expanding due to the growing demand for electronics in autos.

We forecast that the solution category in Chip Resistor market sales will account for more than 27% of total sales by 2028. Opportunities for the Chip Resistor market are anticipated to emerge shortly due to the rapid advancement of trends and technology in consumer electronics applications. Chip Resistor demand is anticipated to rise due to new electronic and electrical gadgets, including smart TVs, car logging devices, high-end laptops, RGB lighting, and others, and their use in daily life.

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Market Dynamics

Rise in Electronic Device Demand to Drive Market Growth

The need for electronics such as smartphones and the spread of applications such as the Internet of Things and cloud computing is predicted to be the main drivers of growth for the worldwide Chip Resistor market. One of the main factors projected to drive the market is incorporating new technologies like artificial intelligence (AI) and 5G networks into devices, together with the explosive rise of automotive and industrial electronics. For instance, Vishay Inter Technology, a semiconductors and passive electronic components producer, released a high-precision thin film wraparound Chip Resistor in May 2021. This resistor has a tight TCR of 2 ppm/° and is used in industrial, medical, military, and aerospace applications. Its resistance range is 100 to 3.05 M.

Market Technological Development Will Generate Vast Investment Opportunities

Due to advancements in cutting-edge technologies like 5G, the Internet of Things, and electric and driverless vehicles, the global Chip Resistor market is expanding quickly (IoT). The internet of things will greatly accelerate the continual growth of technology. It will present excellent chances for component suppliers and manufacturers in the coming year. By 2025, there will be around 25.1 billion Internet of Things (IoT) devices worldwide, according to the Global System for Mobile Communications Association (GSMA). Additionally, the car industry predicts that by 2030, 4.7 million autonomous electric vehicles will replace the roughly 5.1 million conventional automobiles delivered in the U.S. These changes will probably create good prospects for the Chip Resistor market.

Top Players in the Global Chip Resistor Market

• Bourns Inc. (United States)
• TE Connectivity (Switzerland)
• Vishay Intertechnology Inc. (United States)
• Koa Corporation (Japan)
• Tzai Yuan Enterprise Co. (China)
• International Manufacturing Services (United States)
• Yageo Corporation (Taiwan)
• Rohm Semiconductor (Japan)
• AVX Corporation (United States)
• Susumu Co. Ltd. (Japan)

For Additional Information on Chip Resistor Market Players and Detail List, Download a Report PDF Brochure

Top Trends in the Global Chip Resistor Market

• One trend that Vantage Market Research (VMR) expects to see in the Chip Resistor industry is the rise of electronics miniaturization and the growing demand for compact devices, which are less expensive and smaller than traditional lead resistors.
• Another trend that VMR predicts will continue in the Chip Resistor industry is the enhanced need for resistors to meet performance standards for cardiac monitoring circuits in automatic external defibrillators (AEDs). This is boosting the market for Chip Resistors by increasing the use of Chip Resistors that can handle high voltages, dissipate about 10W of power, and provide voltage linearity and temperature stability.

Top Report Findings

• Based on Type, most of the Chip Resistor market’s revenue is controlled by the thick film category. The demand for tiny advanced tools is predicted to expand in several industries, including automotive, consumer electronics, and many more. The usage of electronics and electrical devices is expected to increase.
• Based on End Use, the consumer electronics category controls most of the Chip Resistor market’s revenue. The rise in the number of consumer electronics devices, such as smartphones, tablets, and computers, can be ascribed to the market’s expansion and the rising demand for Chip Resistor solutions.

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Recent Developments in the Global Chip Resistor Market

• In India, Resistive Technologies Limited (RTCL) is one of the country’s largest manufacturers of Chip Resistors. The company recently agreed with Qualcomm Incorporated to supply its chips for next-generation LTE smartphones and tablets. RTCL also plans to enter the automotive market with its latest product line.
• Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC) has developed an innovative Chip Resistor manufacturing process to produce better resistors.

Thick Film Category in Chip Resistor Market to Generate Over 57% Revenue

Chip Resistors are an expensive investment. Vantage Market Research has analyzed the market for Chip Resistor to understand its current state and potential future growth factors. Based on the application, the Chip Resistor market is divided into Thick Film and Thin Film for better understanding.

During the forecast period, the market for Chip Resistor is anticipated to experience the highest CAGR for the thick film category. This is because tiny advanced tools are increasingly demanding across various industries, including consumer electronics and automotive.

On the other hand, the thin film category is anticipated to grow significantly. The development of data center infrastructure and the adoption of lead-free components are anticipated to propel the market for thin film Chip Resistors worldwide.

Asia Pacific Region in Chip Resistor Market to Generate More 47% Revenue

Asia Pacific dominates the Chip Resistor market, and this dominant trend will continue throughout the projection period. The region has a dominant position in terms of Chip Resistor market share due to the increased adoption of high-end technology-based gadgets combined with the low prices of electronics.

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Chip Resistor Market Forecast Report (2022-2028).

Global Chip Resistor Market Segmentation

By Type

• Thick Film
• Thin Film
• Others

By End Use

• Automotive & Transportation
• Consumer Electronics
• Industrial
• IT & Telecommunication
• Others

By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

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Regional Analysis

• North America will account for the largest market share of Chip Resistor. The major factors contributing to the growth of this market are increasing demand for low-power resistors and sensors owing to increasing recognition of energy conservation and environmental awareness, as well as the growing need for smart manufacturing solutions.
• Asia Pacific will be the second largest region, with a share of 23%. Europe will be the third largest region with a share of 16%. The primary drivers behind the growth of this market are the rising demand for low-power resistors and sensors in end-user applications such as automotive, communications, consumer electronics, and medical devices, among others. Latin America and, the Middle East & Africa are expected to account for 7% and 5% of the global market, respectively.
• The Middle East & Africa market is projected to grow at a modest rate over the forecast period owing to stringent government regulations about electrical equipment and rapid expansion of infrastructure development in this region.

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