IMARC Group, a leading market research company, has recently releases report titled “Chip Resistor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global chip resistor market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Chip Resistor Market?
The global chip resistor market size reached US$ 1,127 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,626 Million by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
What is Chip Resistor?
A chip resistor is an electronic component that is designed to control the flow of electric current in circuits. It is manufactured through thin film or thick film technology, which allows for high precision and reliability. It is a small and rectangular device that is mounted directly onto printed circuit boards (PCBs) and serves as a passive component. It assists in offering precise and stable resistance to regulate the flow of electricity and protecting sensitive electronic devices from voltage surges while ensuring optimal performance. As a result, a chip resistor is widely employed in the telecommunication, automotive, electronics, medical, and aerospace industries worldwide.
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What are the growth prospects and trends in the chip resistor industry?
At present, the rising adoption of chip resistors in the automotive industry to ensure an accurate current control and protection of automotive electronic devices represents one of the key factors strengthening the market growth.
Besides this, the growing demand for chip resistors due to the increasing utilization of smartphones, laptops, and wearables devices is offering a positive market outlook. Moreover, the rising popularity of electric vehicles (EVs) among the masses around the world is supporting the growth of the market. Apart from this, the increasing demand for miniaturized chip resistors due to the rising consumer preference for compact and lightweight electronic products is propelling the market growth.
Furthermore, the growing utilization of chip resistors due to the increasing demand for Internet of Things (IoT) devices and smart home technologies is positively influencing the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
Breakup by Technology:
• Thick Chip Resistors
• Thin Chip Resistors
Breakup by End Use:
• Automotive and Transportation
• Consumer Electronics
• IT and Telecommunication
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Bourns Inc., International Manufacturing Services Inc, Koa Corporation, Panasonic Corporation, Rohm Semiconductor, Samsung Electro-Mechanics, Susumu International U.S.A., TE Connectivity, TT Electronics Plc, Viking Tech Corporation, Vishay Intertechnology Inc. and YAGEO Group.
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