Global Chip Resistor Market size is predicted to reach $2.3 billion by 2030, growing at a CAGR of 6.5% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The surging demand for Thick Film Special Design for High Working Voltage and Stability in SMD Chip Resistors are poised to propel the market growth, finds IndustryARC in its recent report, titled “Chip Resistor Market Size, Share & Trends Analysis Report 2023–2030”

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North America to Register Highest Growth:

The Chip Resistor industry in this region is expanding due to the rise in demand for Electric and driverless automobiles within the Automotive & Transportation sector. Additionally, North America is home to many developed economies that has a strong presence of major manufacturers who continuously invests in new and innovative technologies and developments in the automotive and consumer electronics that are the major factors propelling the market growth in this region.

Over the projected period, North America will continue to dominate the Chip Resistor market due to the rising popularity of high-tech devices combined with the low cost of electronics, the area holds a prominent position in terms of Chip Resistor market share.

Chip Resistor Market 2023-2030: Scope of the Report

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Chip Resistors Market Report – Key Takeaways:

Automotive & Transportation Industry to Register the Fastest Growth

In the Chip Resistors Market analysis, the Automotive & Transportation Industry is estimated to grow with the highest CAGR of 7.2% during the forecast period. Incorporating new technologies like artificial intelligence (AI) into automobiles is one of the main factors, together with the explosive rise of self-driving automotive and electric automotive is nourishing growth opportunities for this particular segment.

Rising Demand for Electronic Devices is Driving the Market.

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 impact the market’s expansion and the rising demand for Chip Resistor solutions. Incorporating new technologies like artificial intelligence (AI) and 5G networks into devices is one of the main factors, together with the explosive rise of automotive and industrial electronics. This drives market growth.

Fastest Growth of the North American Region

Geographically, in the global Chip Resistor market share, North America is analyzed to grow with the highest CAGR of 7.3% during the forecast period 2023-2030. Technologically advanced and innovative product launches by major manufacturers present in the region are cost-effective and this is owing to the growing demand for consumer electronics goods among individuals across the world.

Rise in demand for thin film chip resistors expected to open up opportunities

Thin film chip resistors are resistors made of thin film material. They are commonly used to control the flow of electricity in electronic devices. They are useful in electronics because they help to ensure that the device operates properly and does not overheat. These are the resistors that process a thin resistor layer sat on top of a ceramic base.

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Key Opportunity Analysis:

Thick film Chip Resistors create the opportunity for advanced tools

In the Chip Resistor Market analysis, the thick film Resistor segment is estimated to grow with the highest CAGR of 7.1% during the forecast period. As Thick film Chip Resistors are used in tiny advanced tools, the demand for tiny advanced tools is predicted to expand in several industries, including automotive, consumer electronics, and many more.

Therefore, the usage of electronics and electrical devices is expected to increase.ROHM announced the availability of a new lineup of high-power wide terminal thick-film chip resistors (10-910mΩ) ideal for current detection in a variety of applications, including inverters, AC, and energy-efficient appliances.

The Emergence of Effective Resistors in New Technologies

The demand for integrated circuits has increased as a result of the government’s aims to strengthen its EV charging infrastructure. The use of effective resistors with leakage-detecting capabilities is the opportunity for market expansion as hybrid and electric vehicles continue to be improved to attain greater efficiency.

5G technology and the Internet of Things (IoT) are a few examples of emerging technologies, Resistive Technologies Limited (RTCL) and Qualcomm Incorporated recently reached an agreement for the latter to provide its chips for upcoming LTE smartphones and tablets. With its most recent product line, RTCL also intends to reach the automotive industry.

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The Report also Covers the Following Areas:

Chip Resistor Market Size and Forecast

Chip Resistor Market Trends

Chip Resistor Market Analysis by Product Type

Vinyl Flooring Market 2023-2030: Key Highlight

CAGR of the market during the forecast period 2023-2030

Value Chain Analysis of key stakeholders

Detailed Analysis of market drivers and opportunities during the forecast period

Chip Resistor Market size estimation and forecast

Analysis and predictions on end users’ behavior and upcoming trends

Competitive Landscape and Vendor Market Analysis including offerings, developments, and financials

Comprehensive Analysis of challenges and constraints in the Chip Resistor Market

Covid and Ukrainian Crisis Impact:

Over the past two years when the lockdown got imposed Chip resistor market growth has been hampered by the fall in growth of key industries using them, such as industrial electronic equipment, and automobiles and restrictions made in exports and imports. The trades and services across the globe got blocked which resulted in a shortage of raw materials, and the surge in instrument and equipment prices impacted the market heavily.

Resistor prices have increased significantly due to the high inflation rates in industrialized nations around the world. It is anticipated that the purchasing power will considerably affect developing economies and is thought to be beneficial in many ways.

The Russia-Ukraine conflict hindered the development of the chip resistor industry since numerous consumer electronics manufacturing companies were compelled to close their doors, seriously disrupting the supply chain. Also, there was a severe lack of raw materials because of the war’s complete halt to export and import activity, which put additional pressure on the industry’s expansion.

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List of Key Market Players in the Chip Resistor Market:

The Global Chip Resistor Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

TE Connectivity Ltd. Susumu corporation Ltd.

Susumu corporation Ltd

Bourns Inc.

Vishay Intertechnology Inc.

Yageo Corporation

Murata Manufacturing Corporation Ltd.

Panasonic Corporation

Rohm Semiconductor Pvt. Ltd.

Avx Corporation

Ralec Electronic Corporation

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