Resistor Market Size, Trends, Growth, Outlook 2024-2033

The resistor market size has grown steadily in recent years. It will grow from $10.18 billion in 2023 to $10.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to increased consumer electronics demand, emergence of IoT devices, enhanced energy efficiency, military and aerospace applications, increased interest in augmented reality (AR).

The resistor market size is expected to see steady growth in the next few years. It will grow to $12.3 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to increasing use in automotive HUDs, advancements in flexible electronics, integration with edge computing, healthcare industry adoption, expanded applications in smart cities. Major trends in the forecast period include biodegradable transparent electronics, integration with AI and machine learning, augmented reality applications, integration with blockchain technology, focus on transparent batteries.

Market Overview -
A resistor is a passive electrical component that creates resistance in the flow of electric current. It is a fundamental component in electronic design and is widely used in countless electronic devices and systems. It is employed to control or restrict how much electrical current can pass across a circuit.

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Resistor Market Driven By Surge In Wearable Device Demand
The increasing demand for wearable devices is expected to propel the growth of the resistor market going forward. Wearable devices refer to electronic devices that can be worn on the body as accessories that are equipped with various sensors and often connect to smartphones or other devices to provide information or perform functions. The resistors are used in wearable devices to provide essential components that enable precise control, miniaturization, and innovation in electronic devices. For instance, according to the National Center for Biotechnology Information, a US-based National Library of Medicine, in 2021, the number of wearable devices in use was approximately 600 million. Further, this number increased to 928 million in 2021 and 1100 million in 2022. Therefore, the increasing demand for wearable devices is driving the growth of the resistor market.

Competitive Landscape -
Major companies operating in the resistor market report are Panasonic Corporation, Honeywell International Inc., Walsin Technology Corporation, TE Connectivity, Murata Manufacturing, OKAYA Electric Industries Co. Ltd., Samsung Electro-Mechanics, Rohm Co. Ltd., Yageo Corporation, Vishay Intertechnology, Bourns Inc., AVX Corporation, CTS Corporation, Ohmite Manufacturing Company, Viking Tech Corporation, Susumu Co. Ltd., Stackpole Electronics Inc., Cyntec Electronics, Caddock Electronics Inc., Cressall Resistors, Arcol, HVR Pentagon, KOA Corporation, Shenzhen Sunlord Electronics Co. Ltd.

Innovative Advancements In Resistor Technology Yageo Corporation Introduces High-Stability VT Series Thin Film Chip Resistor For Automotive Applications
Major companies operating in the resistor market are focusing on developing innovative technology, such as thin-film resistors, to maintain high resistance stability. Thin-film technology is a modern engineering approach that involves the development of very thin layers of material, typically ranging from a nanometer to a few micrometers in thickness. For instance, in October 2022, Yageo Corporation, a China-based company, launched VT Series, an automotive-grade thin film chip resistor. This resistor is designed to meet the high stability and reliability requirements of automotive electronics, telecommunication, industrial or medical equipment, measuring equipment, and power systems. It offers features such as high working voltage, superior resistance against sulfur-containing environments, and compliance with AEC-Q200 standards. The VT Series includes resistors with high precision, stability, and a wide range of resistance values, making them suitable for various applications.

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Key Segments -

The resistor market covered in this report is segmented -

1) By Type: Linear Resistors, Fixed Resistors
2) By Material: Thin Films, Thick Films
3) By Application: Automotive, Aerospace And Defense, Communications , Consumer Electronics And Computing, Other End-user Industries

Key highlights covered in the report -

1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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