IMARC Group, a leading market research company, has recently releases report titled “Chip Resistor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global chip resistor market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Chip Resistor
A chip resistor is a miniature passive component that plays a vital role in regulating and controlling electrical currents and signals. It is designed to offer precise resistance to the flow of electric current and is characterized by its compact size, which makes it suitable for integration into a wide range of electronic devices and circuits. It serves as a crucial component in electronic circuits and ensures the proper functioning of various applications. It generates low levels of electrical noise, which is essential in applications where signal integrity is critical. It provides precise resistance values and exhibits enhanced stability over time and under varying environmental conditions. As it is compatible with automated pick-and-place machines that assist in streamlining the manufacturing process and reducing assembly time and costs, the demand for chip resistor is increasing across the globe.
How Big Is the Chip Resistor Market?
The global chip resistor market size reached US$ 1,127 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,626 Million by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
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What are the growth prospects and trends in the chip resistor industry?
Presently, the rising popularity of miniaturization in electronic devices represents one of the major factors impelling the growth of the market. Apart from this, the increasing adoption of chip resistors, as they occupy minimal space while delivering precise resistance values, is supporting the market growth. In addition, the growing demand for smaller and more efficient electronic devices among individuals is positively influencing the market.
Moreover, the rising adoption of chip resistors in the automotive sector, as they can withstand harsh environmental conditions, offer enhanced reliability, and ensure the functionality and safety of automotive systems, is providing lucrative growth opportunities to industry investors. Besides this, the increasing utilization of the Internet of Things (IoT) devices among the masses is strengthening the market growth.
Additionally, the rising preference for eco-friendly chip resistors that adhere to stringent regulations regarding hazardous materials and reduce environmental pollution is propelling the market growth. In line with this, the increasing demand for chip resistors in the medical industry for developing medical devices, diagnostics, and patient monitoring equipment is bolstering the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Pressure-Sensitive
- Thermosensitive
- Others
Breakup by Technology:
- Thick Chip Resistors
- Thin Chip Resistors
- Others
Breakup by End Use:
- Automotive and Transportation
- Consumer Electronics
- Industrial
- IT and Telecommunication
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Bourns Inc., International Manufacturing Services Inc, Koa Corporation, Panasonic Corporation, Rohm Semiconductor, Samsung Electro-Mechanics, Susumu International U.S.A., TE Connectivity, TT Electronics Plc, Viking Tech Corporation, Vishay Intertechnology Inc. and YAGEO Group.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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