Global Thin Film Chip Resistor Market to Grow with a 5.4% CAGR in the Post-Pandemic Period Due to Product Launches from Leading Market Players [250-Pages] | Report by Research Dive
Global thin film chip resistor market is expected to grow due to the advances in data capture, sensors, & robotics. Industrial equipment sub-segment is expected to flourish greatly. The North America region is likely to grow significantly by 2031.
NEW YORK, March 15, 2023 /PRNewswire/ -- Global Thin Film Chip Resistor Market Forecast Analysis:
As per the report published by Research Dive, the global thin film chip resistor market is expected to register a revenue of $1,046.4 million by 2031 with at a CAGR of 5.4% during the forecast period 2022-2031.
Segments of the Thin Film Chip Resistor Market
The report has divided the thin film chip resistor market into the following segments:
Type: ultra precision 0.05% tolerance, 0.1% tolerance, 1% tolerance, and others
Application: instrumentation, medical instruments, power supply, electric power equipment, electronic digital products, and others
End-User: industrial equipment, consumer electronics, and other
Region: North America, Europe, Asia-Pacific, and LAMEA
Access to the Complete PDF Sample of the Thin Film Chip Resistor Market
Segment |
Sub-Segment |
Type |
Ultra Precision 0.05% Tolerance – Dominant market share in 2021 |
Growing use of ultra precision 0.05% tolerance resistors for quality control processes due to the high level of reliability and accuracy offered by them is expected to push the growth of this sub-segment further. |
|
Application |
Instrumentation – To hold a dominant market share by 2031 |
Wide range of applications for chip resistors including consumer electronics, telecommunication equipment, and medical devices is expected to propel the sub-segment forward. |
|
End-User |
Industrial Equipment – To hold a dominant market share by 2031 |
Growing importance of thin film chip resistors in a high sulfur environment of different industries is anticipated to push the market forward. |
|
Region |
North America – Dominant market share in 2021 |
Rising demand for electronic digital products such as smartphones and tablets is predicted to propel the market in the forecast period. |
Dynamics of the Global Thin Film Chip Resistor Market
Growing advancements in data capture, sensors, robotics, and computer networking is expected to become the primary growth driver of the thin film chip resistor market in the forecast period. Additionally, continuous development of new technologies such as artificial intelligence, IoT, and 5G networks is predicted to propel the market forward. However, according to market analysts, raw material price uncertainty might become a restraint in the growth of the market.
Development of data centres and growth in data centre infrastructure is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, increasing shift towards lead-free components is expected to propel the thin film chip resistor market forward in the coming period.
COVID-19 Impact on the Global Thin Film Chip Resistor Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The thin film chip resistor market, too, was negatively impacted due to the pandemic. The lockdowns and travel restrictions forced resistor manufacturing companies to stop their production cycles. Moreover, ban on import-export of raw materials required for manufacturing of resistors reduced the supply of resistors. Also, the demand for thin film chip resistors declined from the consumer electronics industry, which plummeted the growth rate of the market further.
Key Players of the Global Thin Film Chip Resistor Market
The major players of the market include
- Elektronische Bauelemente GmbH (EBG)
- Rohm Co. Ltd.
- Ta-I Technology Co. Ltd
- Ever Ohms Technology Co. Ltd.
- Ralec Electronics Corp
- Tateyama Kagaku Industry Co. Ltd.
- KOA
- Samsung Electro-Mechanic
- Uniohm
- Panasonic
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
For instance, in September 2022, TT Electronics, a leading electronic connector manufacturer, announced the launch of TFHP series of high power, thin film chip resistors. These new resistors are built using aluminum nitride (AlN) ceramic substrate which has a conductivity six times that of alumina. The product launch is predicted to help TT Electronics to improve their market share significantly in the coming period.
Granular Research on Specific Regions or Segments of Thin Film Chip Resistor Market & Avail 10%OFF
What the Report Covers?
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Thin Film Chip Resistor Market:
- A Quick Explainer on Thin Film Chip Resistors, Their Properties, and Applications
- Global Thin Film Chip Resistor Market to Observe Widespread Growth with Rising Demand for Miniaturization in Electronic Devices
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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