Chip Resistor Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Chip Resistor Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire.com/ -- The global chip resistor market has demonstrated robust growth in recent years. It is set to expand from $1.35 billion in 2023 to $1.44 billion in 2024, with a compound annual growth rate (CAGR) of 6.6%. Despite challenges, the market is projected to reach $1.88 billion by 2028 at a compound annual growth rate (CAGR) of 6.8%, driven by several factors including rising demand for electric vehicles, growth in renewable energy projects, and an increase in smart home devices.

Escalating Demand for Compact Devices Drives Market Expansion
The growing demand for compact electronic devices significantly contributes to the chip resistor market’s expansion. Compact devices such as smartphones, tablets, and wearable technology are increasingly favored for their portability and advanced functionality. According to a February 2022 report by the Global System for Mobile Communications Association (GSMA), smartphone connections, which totaled 6.2 billion in 2021, are expected to reach nearly 7.5 billion by 2025. This surge in demand is pushing the need for small, efficient chip resistors that support advanced electronics without compromising performance.

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Key Players and Market Innovations
Major players in the chip resistor market include Samsung Electronics Co., Panasonic Holdings Corporation, TE Connectivity Ltd., Murata Manufacturing Co. Ltd., and YAGEO Corp., among others. These companies are focusing on innovative product development to meet growing demands. For example, in October 2021, YAGEO Group launched its AH chip resistors designed with anti-sulfurated and high voltage capabilities, catering to the needs of both automotive and industrial applications. This innovation reflects the industry’s shift towards developing high-reliability components for demanding environments.

Trends Shaping the Market
The chip resistor market is witnessing several key trends:
• Adoption of Thin Film Technology: Increasing use of thin film resistors in advanced electronic applications.
• Integration in ADAS: Growing incorporation of resistors in advanced driver-assistance systems.
• Development of Resistor Networks: Enhanced resistor networks for complex circuit designs.
• Renewable Energy Applications: Rising use of resistors in renewable energy projects.
• Robust Resistors for Harsh Environments: Increased demand for resistors that can withstand extreme conditions.

Market Segmentation
The chip resistor market is segmented as follows:
• By Type: Pressure-Sensitive, Thermosensitive, Other Types
• By Technology: Thick Chip Resistors, Thin Chip Resistors, Other Technologies
• By Material: Silver, Palladium, Cupronickel, Other Materials
• By Operating Voltage: Up To 50V, 51V To 200V, 201V To 400V, Above 400V
• By End-Use Industry: Consumer Electronics, Information Technology and Telecommunications, Automotive and Transportation, Industrial, Healthcare, Aerospace and Defense, Energy and Utility, Other End-Use Industries

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the chip resistor market in 2023 and is expected to continue leading the market due to rapid technological advancements and significant investments in electronic manufacturing.

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Chip Resistor Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Chip Resistor Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on chip resistor market size, chip resistor market drivers and trends, chip resistor market major players, competitors' revenues, market positioning, and market growth across geographies. The chip resistor market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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