Chip Resistor Market Outlook – 2028
The chip resistor market size accounted for $999.4 million in 2020 and is expected to reach $1,567.2 million by 2028, registering a CAGR of 5.9% from 2021 to 2028.
Chip resistors limit DC or AC. They are used to control the current flow in a device or system and to drop the voltage or maintain the current at a certain level. Further, they are used in various applications such as consumer electronics devices, industrial automotive, and others. They can be used to protect, operate, or control circuits.
Chip resistors have the potential to enhance and even replace existing technology solutions within enterprise supply chains and change the structure of the work environment. Companies manufacturing chip resistors are demonstrating use cases that lead to an increase in workplace efficiency, productivity, and compliance, which is expected to be lucrative when the technology matures.
The surge in trends and technology in consumer electronics and automotive applications is expected to generate opportunities for the chip resistor market shortly. New electronic and electrical devices such as smart TVs, automotive logging device, high-end laptops RGB lighting, and others, and their use in day-to-day life are expected to increase the demand for chip resistors. For instance, in 2021, Panasonic Corporation developed a 0402 size, high-precision thin film chip resistor, which has the most robust electro-static discharge protection in the resistor field. This resistor is expected to help increase accuracy and lower the electrostatic discharge risk.
The increase in the use of consumer electronic devices and the rise in digitalization for chip resistors are the major factors that drive the global chip resistor market growth. However, the high manufacturing cost associated with chip resistors is expected to pose major threats to the market. Furthermore, technological advancements in the healthcare industry and an increase in applications in the automotive & transportation sectors are expected to offer lucrative opportunities for the global chip resistor market.
By Type
Thick Film segment will dominate the market throughout the forecast period
Segment Overview
The chip resistor market is segmented into type, end-use, and region. By type, the market is classified into thick film, thin film, and others. By end use, the market is divided into Automotive & transportation, consumer electronics, industrial, IT & telecommunication, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
By End Use
Consumer Electronics segment will maintain the lead during 2021 - 2028
Competitive Analysis
The key players profiled in this report include ROHM Semiconductor, Bourns Inc., TE Connectivity, Vishay Intertechnology Inc., CTS Corporation, Panasonic Corporation, Samsung Electro-Mechanics, Yageo Corporation, AVX Corporation, and SUSUMU Co. Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaborations, to enhance their market penetration.
By Region
Asia-Pacific region would exhibit the highest CAGR of 6.7% during 2021 - 2028
COVID-19 Impact Analysis
The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives and missed opportunities.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day by day as well as affecting the supply chain. It is creating uncertainty in the stock market, reducing business confidence, hampering the supply chain, and increasing panic among customers. European countries under lockdown have suffered a major loss of business and revenue due to the shutdown of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the chip resistor market in 2020.
According to the chip resistor market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries.
The emergence of COVID-19 has declined the growth of the chip resistor market in 2020 and is estimated to witness slow growth till the end of 2021. Implementation of partial or complete lockdowns across various countries globally is the prime reason for this decline in growth rate. As industries were temporarily shut, it reduced the need for maintenance from various industries.
Top Impacting Factors
Notable factors positively affecting the growth of the chip resistor market include a surge in digitalization and an increase in demand for consumer electronics. Electronic devices such as televisions, computers, or smartphones are in demand. Consumer electronics have the highest consumption of chip resistors to limit the flow of electric current in the device for the safety of the system or device. There is an increase in the demand for chip resistors as these are incorporated in all sorts of electric devices. This is attributed to increased demand for chip resistor use, which, in turn, drives the market growth.
However, high manufacturing costs associated with chip resistors hamper the growth of the market. Raw materials used in the manufacturing of the chip resistor are expensive, thus increasing the cost of chip resistor. Furthermore, the increase in applications in automotive & transportation and technological advancements in the healthcare industry is expected to offer lucrative opportunities for the growth of the chip resistor industry in the coming years.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global chip resistor market size along with the current trends and future estimations to depict imminent investment pockets.
- The overall chip resistor market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The present chip resistor market forecast is quantitatively analyzed from 2020 to 2028 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
- The report includes the market trends and the chip resistor market share of key vendors.
Chip Resistor Market Key Segments
By Type
- Thick Film
- Thin Film
- Others
By End Use
- Automotive & Transportation
- Consumer Electronics
- Industrial
- IT & Telecommunication
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ROHM Semiconductor
- Bourns Inc.
- TE Connectivity
- Vishay Intertechnology Inc.
- CTS Corporation
- Panasonic Corporation
- Samsung Electro-Mechanics
- Yageo Corporation
- AVX Corporation
- SUSUMU Co. Ltd.
Chip Resistor Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By END USE |
|
 By Region |
|
 Key Market Players | BOURNS, INC., CTS CORPORATION, ROHM CO., LTD. (ROHM SEMICONDUCTOR), SAMSUNG ELECTRO-MECHANICS CO., LTD., TE CONNECTIVITY LTD., AVX CORPORATION, SUSUMU CO., LTD., PANASONIC CORPORATION, VISHAY INTERTECHNOLOGY, INC., YAGEO CORPORATION |
Analyst Review
The global chip resistor market is witnessing decent growth, owing to increase in digitalization and rise in demand for consumer electronic products.
According to CXOs of the top companies in the market, the factor that fuels the growth of the global chip resistor market includes the launch of new electronic product and devices. The global chip resistor market is competitive, owing to strong presence of existing vendors. Chip resistor vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
Market players are striving to gain maximum opportunities from the developing chip resistor market by planning their strategies meticulously. Strategic partnership, collaboration, and product launches are some of the prominent strategies adopted by key market players in the chip resistor market. Adoption of chip resistors in consumer electronics, industrial, IT & telecommunication, and other sectors and products, increase in awareness among masses about the benefits of using and installing chip resistors in devices, and their effectiveness drive the growth of the chip resistor market.
The chip resistor market provides numerous growth opportunities to players such as Panasonic Corporation, Rohm Semiconductor, Bourns Inc, TE Connectivity, Yageo Corporation, and others.
The Chip Resistor Market is estimated to grow at a CAGR of 5.9% from 2021 to 2028.
The Chip Resistor Market is projected to reach $1,567.2 million by 2028.
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Increase in use in consumer electronic devices and rise in digitalization for chip resistor etc. boost the Chip Resistor market growth.
The key players profiled in the report include ROHM Semiconductor, Bourns Inc., TE Connectivity, Vishay Intertechnology Inc., and many more.
On the basis of top growing big corporations, we select top 10 players.
The Chip Resistor Market is segmented on the basis of type, end use, and region.
The key growth strategies of Chip Resistor market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Thin Film segment would grow at a highest CAGR of 6.6% during the forecast period.
Consumer Electronics segment will dominate the market by the end of 2028.
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