Chip Resistor Market Size, Trends, and Future Scope Forecast 2022-2030

The Market Statsville Group (MSG) publishes the new report on the "Chip Resistor Market by Type (Thick Film, Thin Film, and Others), by End-Use (Consumer Electronics, Industrial, Medical & Healthcare, Telecommunication, Aerospace & Defense, and Others), by Region - Global Share and Forecast to 2030". The global chip resistor market size is expected to grow from USD 1,050.3 million in 2021 to USD 1,661.4 million by 2030, at a CAGR of 5.9% during the forecast period. Electronics is being applied in automobiles with advancements in technologies such as advanced driver assistance systems, electric power steering, infotainment systems, and others to offer an enhanced experience and make automobiles safer. Chip resistors are employed to control the electric current supply in the circuitry to operate the device or system efficiently. Thus, the increase in the use of electronics in automobiles positively impacts the growth of the chip resistor market.

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Global Chip Resistor Market Segmentation

The overall chip resistor market has been segmented into type, end-use, and region.

By Type (Thick Film, Thin Film, and Others)
By End-Use (Consumer Electronics, Industrial, Medical & Healthcare, Telecommunication, Aerospace & Defense , and Others)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Consumer electronics, by end-use, is estimated to hold the largest market share during the forecast period

The global chip resistor market is segregated into consumer electronics, industrial, medical & healthcare, telecommunication, aerospace & defense, and others based on end-use. The consumer electronics segment generated the highest revenue of 31.1% of the total global chip resistor market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. Chip resistors are widely used in electronic devices and systems. Smartphones, televisions, and others have chip resistors for efficient use and control of the current. The consumer electronics segment is expected to experience advancements during the study period.

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Continuous advancement in technology and increased penetration of mobile devices are projected to drive the segment growth during the forecast period. The increase in penetration of chip resistors in consumer electronic products is fueled by high competitive consumer electronics market, where players focus on upgrading the products such as laptops, smartphones, and digital recorders.

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Asia Pacific accounts for the largest market share in the chip resistor market in 2021

Based on the regions, the global chip resistor market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific accounted for the highest market share of 34.8% in the global chip resistor market and was anticipated to maintain its dominance throughout the forecast period. China is the highest revenue contributor in the overall Asia-Pacific chip resistor market and is the largest consumer and supplier of electrical and electronic items. There is an increase in the demand for chip resistors in China owing to the presence of a large number of gamers and mobile internet users and a large number of automotive and consumer electronics manufacturers in this region. In 2019, ZXcompo developed the RMK Series general chip fixed resistor, which has stable electrical capability high reliability and is used in the inset box, meters, mobile phones & telecom.

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Japan had the second-highest revenue contributor in the Asia-Pacific region and is projected to hold its position throughout the forecast period. Continuous advancement in technologies and an increase in consumers' inclination toward electronic products boost the growth of the chip resistor market in this region. KOA Speer Electronics, in 2020, introduced a high voltage thick film chip resistor for automotive applications named HV73V.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the chip resistor market. It also consists of leading companies such as Yageo Corporation, Panasonic Corporation, Rohm Semiconductor, CTS Corporation, TE Connectivity, Vishay Intertechnology Inc, Samsung Electro-Mechanics Co Ltd, Bourns Inc, AVX Corporation, and SUSUMU Co Ltd. These market players have focused on acquisitions and expansion to gain a larger market share in the chip resistor market.

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Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.

This release was published on openPR.