PUBLISHER: SkyQuest | PRODUCT CODE: 1260013
PUBLISHER: SkyQuest | PRODUCT CODE: 1260013
Global Chip Resistor Market was valued at USD 1.05 billion in 2021, and it is expected to reach a value of USD 1.56 billion by 2028, at a CAGR of 5.9% over the forecast period (2022-2028).
Recent advances, such as green electronics and high-definition devices, as well as increased consumer electronics demand, are expected to drive market expansion. Furthermore, the rapid expansion of automotive and industrial electronics internationally is a crucial driver fueling growth in the chip resistor market. Furthermore, it is expected that continued improvements in cutting-edge technologies such as autonomous and electric vehicles, IoT, and 5G networks would generate profitable opportunities for the global chip resistor market to expand. Chip resistors may improve current chip and electrical conversion technologies, allowing for more efficient resource integration. Chip resistors can limit DC or AC, which is used to reduce voltage or maintain a constant current in an electrical circuit. Resistors can have a set resistance value in addition to being variable or adjustable within a specified range.
Top-down and bottom-up approaches were used to estimate and validate the size of global Chip Resistor Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Segments covered in this report:
Global Chip Resistor Market is segmented by Type, End Use, and region. Based on Type, the market is segmented as, Thick Film, Thin Film, Others. Based on End Use, the market is segmented as, Automotive & Transportation, Consumer Electronics, Industrial, IT & Telecommunication, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Driver
The chip resistor market is expected to grow significantly over the forecast period due to rising consumer demand for electronic devices such as smartphones. Furthermore, the market is expected to grow rapidly throughout the forecast period due to the rapid development of automotive and industrial electronics.
Furthermore, it is expected that the continuous development of emerging technologies, such as AI in goods, IoT, and 5G networks, would accelerate market expansion during the analysis period. However, the market's progress over the forecast period may be restricted by fluctuating raw material prices.
Restraint
As a result of the COVID-19 pandemic epidemic, the market has suffered. This is primarily because, during the outbreak, chip resistor production activities were hampered by lockdown laws in a number of countries.
Furthermore, export restrictions, a lack of raw materials, and increased demand from end-use industries such as automotive and transportation, consumer electronics, and many others have hindered market growth throughout the crisis.
Market Trends
The chip resistors industry is rising due to the increased use of electronics in automobiles. Furthermore, the growing demand for chip resistors is being spurred by the expansion of data centre infrastructure. The chip resistor market, on the other hand, is challenged by variable raw material costs.
As more industries become digital, the global chip resistor market is expanding. Because of advancements in sensors, data collecting, robots, computing power, and connectivity, businesses may be able to significantly improve their production, service, and supply chains.