Chip Resistor Market Size, Share, Growth Analysis, By Type (Thick Film Resistors, Thin Film Resistors), By Product Type (Discrete, Array), By Operating Voltage, By End Use Industry, By Region - Industry Forecast 2024-2031
Global Chip Resistor Market size was valued at USD 1.1 billion in 2022 and is poised to grow from USD 1.16 billion in 2023 to USD 1.84 billion by 2031, growing at a CAGR of 5.9% during the forecast period (2024-2031).
The chip resistor market is poised for significant growth driven by advancements in green electronics and high-definition consumer devices. The accelerating demand for consumer electronics, coupled with the rapid expansion of automotive and industrial sectors globally, is further fueling this trend. Emerging technologies, such as autonomous and electric vehicles, the Internet of Things (IoT), and 5G networks, are expected to create lucrative opportunities within this space. Chip resistors play a crucial role in enhancing chip and electrical conversion technologies, facilitating efficient resource integration for businesses. Their ability to regulate voltage and current through fixed or variable resistance makes them integral components in various electrical circuits, ultimately supporting the market's promising outlook.
Top-down and bottom-up approaches were used to estimate and validate the size of the 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 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 analyzed to get the final quantitative and qualitative data.
Global Chip Resistor Market Segmental Analysis
Global Chip Resistor Market is segmented by type, product type, operating voltage, end use industry and region. Based on type, the market is segmented into thick film resistors, thin film resistors and others. Based on product type, the market is segmented into discrete and array. Based on operating voltage, the market is segmented into up to 50V, 51V TO 200V, 201V to 400V and above 400V. Based on end use industry, the market is segmented into consumer, electronics, IT & telecommunications, automotive & transportation, industrial, aerospace & defense, energy & utility and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Chip Resistor Market
The global chip resistor market is expected to experience substantial growth in the coming years, primarily driven by the increasing consumer demand for electronic devices such as smartphones. This surge in demand is complemented by the rapid advancements in automotive and industrial electronics, further propelling market expansion. Moreover, ongoing innovations in emerging technologies like artificial intelligence, Internet of Things (IoT), and 5G networks are anticipated to enhance market growth. However, it is important to note that the market's progress may be hindered by the volatility in raw material prices, which could create challenges during the forecast period.
Restraints in the Global Chip Resistor Market
The Global Chip Resistor market has experienced significant setbacks due to the repercussions of the Covid-19 pandemic. During the crisis, production activities were severely hampered by lockdown measures implemented across various countries, leading to a notable decline in the availability of chip resistors. Furthermore, export restrictions and a shortage of raw materials contributed to the market's slowdown. This situation was exacerbated by an increasing demand from key end-use sectors, such as automotive and transportation, as well as consumer electronics. Consequently, these intertwined factors have collectively impeded the growth of the chip resistor market during the challenging period caused by the pandemic.
Market Trends of the Global Chip Resistor Market
The Global Chip Resistor market is witnessing significant growth driven by the increasing integration of electronics in automotive applications, as well as the burgeoning demand for robust data center infrastructure. As vehicles become more electronics-driven, the necessity for high-performance chip resistors is rising. Furthermore, the proliferation of Internet of Things (IoT) devices further fuels demand in various sectors, including consumer electronics and telecommunications. However, this growth is tempered by challenges such as fluctuating raw material prices, which can impact production costs and overall market stability. Companies must navigate these complexities while capitalizing on the expanding opportunities in this dynamic market landscape.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Technological Advancement
Regulatory Landscape
Patent Analysis
Case Studies
Global Chip Resistor Market Size by Type & CAGR (2024-2031)
Market Overview
Thick Film Resistors
Thin Film Resistors
Others
Metal Film Resistors
Carbon Film Resistors
Global Chip Resistor Market Size by Product Type & CAGR (2024-2031)
Market Overview
Discrete
Array
Global Chip Resistor Market Size by Operating Voltage & CAGR (2024-2031)
Market Overview
Up To 50V
51V To 200V
201V To 400V
Above 400V
Global Chip Resistor Market Size by End Use Industry & CAGR (2024-2031)
Market Overview
Consumer
Electronics
IT & Telecommunications
Automotive & Transportation
Industrial
Aerospace & Defense
Energy & Utility
Others
Global Chip Resistor Market Size & CAGR (2024-2031)
North America (Type, Product Type, Operating Voltage, End Use Industry)
US
Canada
Europe (Type, Product Type, Operating Voltage, End Use Industry)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Type, Product Type, Operating Voltage, End Use Industry)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Type, Product Type, Operating Voltage, End Use Industry)
Brazil
Rest of Latin America
Middle East & Africa (Type, Product Type, Operating Voltage, End Use Industry)