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Resistor Market Key Drivers, Size, Trends, Insights, Outlook, Overview 2024-2033
Resistor Market
Resistor Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $12.3 billion In 2028 At A CAGR Of 3.9% :
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.
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Resistor Market Major 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 Driver - 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.
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Prominent Trend - 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.
Resistor Market Players
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.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the resistor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the resistor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Resistor Market Report Structure
3. Resistor Market Trends And Strategies
4. Resistor Market - Macro Economic Scenario
5. Resistor Market Size And Growth
…..
27. Resistor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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