PUBLISHER: The Business Research Company | PRODUCT CODE: 1531905
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531905
A chip resistor is an electronic component mounted on a surface to provide resistance in a circuit. Typically, it consists of resistive material deposited on a ceramic substrate, ensuring both compactness and reliability. These resistors are widely employed in electronic devices due to their small size and ease of integration.
Chip resistors come in various types including pressure-sensitive and thermosensitive variants. Pressure-sensitive chip resistors alter their resistance based on applied pressure. They are categorized into thick chip resistors, thin chip resistors, and others, using materials such as silver, palladium, cupronickel, and others. These resistors operate at voltages ranging from up to 50V, 51V to 200V, 201V to 400V, and above 400V. They find applications across diverse industries such as consumer electronics, information technology, telecommunications, automotive, industrial, healthcare, aerospace, defense, energy, utilities, and others.
The chip resistor market research report is one of a series of new reports from The Business Research Company that provides chip resistor market statistics, including chip resistor industry global market size, regional shares, competitors with a chip resistor market share, detailed chip resistor market segments, market trends and opportunities, and any further data you may need to thrive in the chip resistor industry. This chip resistor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The chip resistor market size has grown strongly in recent years. It will grow from $1.35 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historical period can be credited to the shrinking size of electronic devices, expansion in consumer electronics, greater automation in manufacturing, increased presence of automotive electronics, and growth in industrial electronics.
The chip resistor market size is expected to see strong growth in the next few years. It will grow to $1.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period is expected due to escalating demand for electric vehicles, expansion of renewable energy projects, a surge in smart home devices, heightened emphasis on energy efficiency, and the rising adoption of 5G technology. Key trends anticipated in this period include the increasing use of thin film technology, integration of resistors into advanced driver-assistance systems (ADAS), development of resistor networks for complex circuits, expanded application of resistors in renewable energy, and rising demand for durable resistors in challenging environments.
The rising demand for compact devices is expected to propel the chip resistor market in the future. Compact devices, such as smartphones, tablets, and wearable technology, are small, portable electronic gadgets designed for advanced functionality and convenience. This growing demand stems from increasing consumer preference for portability, technological advancements, and the need for connectivity and convenience in daily life. Chip resistors are extensively used in compact devices due to their small size and surface-mount capability, allowing efficient space utilization and integration into electronic circuits without sacrificing performance. For example, according to The Mobile Economy report published in February 2022 by the Global System for Mobile Communications Association (GSMA), smartphone connections, which numbered 6.2 billion and made up 75% of all mobile connections in 2021, are expected to reach nearly 7.5 billion and constitute 84% of all connections by 2025. Consequently, the rising demand for compact devices is driving the chip resistor market.
Leading companies in the chip resistor market are increasingly focusing on developing innovative products, such as automotive-grade chip resistors, to efficiently manage the demands of high-voltage industrial environments. Automotive-grade chip resistors are high-reliability electronic components specifically designed to meet the stringent performance and durability standards required for automotive applications. For instance, in October 2021, YAGEO Group, a Taiwan-based component manufacturing company, introduced its new AH chip resistors with anti-sulfurated and high voltage capabilities. These innovative resistors address the needs of both automotive and industrial applications, offering enhanced performance and reliability. The anti-sulfurated feature ensures the resistors remain effective in harsh environments with sulfuric compounds, while the high voltage capabilities allow them to handle demanding operating conditions. This new product line from YAGEO is set to meet the growing requirements of industries needing high-quality, high-performance resistors.
In January 2022, YAGEO Group, a Taiwan-based component manufacturing company, acquired Chilisin Electronics Corp. for an undisclosed amount. This acquisition is part of YAGEO's strategy to expand into high-margin passive component markets and optimize its product portfolio through acquisitions. Chilisin Electronics Corp. is a Taiwan-based company that manufactures chip resistors.
Major companies operating in the chip resistor market are Samsung Electronics Co., Panasonic Holdings Corporation, TE Connectivity Ltd., Murata Manufacturing Co. Ltd., YAGEO Corp., Rohm Co. Ltd., Vishay Intertechnology Inc., Bourns Inc., AVX Corporation, Walsin Technology Corp., China Zhenhua Group, Darfon Electronics Corporation, Tt Electronics Plc, Guangdong Fenghua Advanced Technology Holding Co. Ltd., CTS Corporation, HolyStone International, Kyocera AVX, Ta-I Technology Co. Ltd., Ohmite Mfg Co., KOA Speer Electronics Inc., Ever Ohms Technology Co. Ltd., Cyntec Co. Ltd., Stackpole Electronics Inc., Caddock Electronics Inc., Elektronische Bauelemente GmbH, Susumu Co. Ltd., Viking Tech, International Manufacturing Services Inc., Ralec Corp., Token Electronics Industry Co. Ltd., Asj Holdings Limited
Asia-Pacific was the largest region in the chip resistor market in 2023. The regions covered in the chip resistor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the chip resistor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The chip resistor market consists of sales of nichrome chip resistors, ceramic chip resistors, metal film chip resistors, carbon film chip resistors, tantalum nitride chip resistors, and silicon chip resistors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Chip Resistor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chip resistor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chip resistor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The chip resistor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.