PUBLISHER: Allied Market Research | PRODUCT CODE: 1266497
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266497
The global thin film chip resistor market is envisioned to garner $1,046.4 million by 2031, growing from $631.2 million in 2021 at a CAGR of 5.4% from 2022 to 2031.
The factors anticipated to drive the chip resistor market share and size in the projected period include the rising demand for consumer electronics and recent developments, such as eco-friendly electronics and high-quality equipment. Another significant element driving the growth of the chip resistor market is the global, rapid expansion of automotive and industrial electronics. The chip resistor market is anticipated to expand significantly over the forecast period.
High manufacturing costs associated with chip resistors hamper the growth of the market. Raw materials used in the manufacturing of the chip resistors are expensive, thus increasing the cost of chip resistors. Raw materials used in thin film chip resistors, such as ruthenium and palladium, continue to exhibit price volatility and are predicted to have an ongoing influence on chip resistor production costs.
The increasing advancements in emerging*technologies, including autonomous and electric vehicles, IoT, and 5G networks, are anticipated to provide lucrative opportunities for the growth of the global chip resistor market. Chip resistors could improve current chip and electric conversion technology to boost enterprise mobilization and effectively implement measures to advance electricity usage in commercial companies.
The COVID-19 pandemic had a negative impact across multiple industries, including the thin film chip resistor market. Because to the COVID-19 pandemic, the growth of essential industries using thin film chip resistors, such as industrial electronic equipment and automobiles, has recently slowed down. Manufacturing of thin film chip resistors has been restricted due to lockdown measures implemented in several nations, and many production facilities have been completely or partially shut down.
The key players profiled in this report include: Elektronische Bauelemente GmbH (EBG), Ever Ohms Technology Co., Ltd., KOA, Panasonic, Ralec Electronics Corp., Rohm Co., Ltd., Samsung Electro-Mechanics, Ta-I Technology Co., Ltd., Tateyama Kagaku Industry Co., Ltd., and Uniohm.