Chip Resistor Market Size, Growth, Trends & Forecast (2021 - 2026)
The global Chip Resistor market was worth US$ 1.3 billion in 2020, and it is predicted to grow to US$ 1.9 billion by 2026, with a CAGR of 5.0 per cent between 2021 and 2026.
Chip resistors can limit DC or AC and are used to lower voltage or maintain current at a specified dimension within an electronic circuit. Resistors might have a set resistance value or a variable or adjustable resistance within a defined range. Circuits can be protected, operated, or controlled with them. Chip resistors are used in a variety of industries, including consumer electronics, industrial manufacturing, automotive and transportation, medical, telecommunications, and aerospace and defence.
Chip resistors are well-suited for DC-to-DC conversion, AC adaptors, automobile ECUs, and motor circuits in the telecommunication, automotive, and consumer electronics industries, such as radio and tape recorders, TV tuners, video cameras, watches, and pocket calculators.
Chip Resistor Market Recent Developments
ROHM Semiconductor has announced the addition of 24 new compact, high-efficiency Schottky barrier diodes (SBDs) to its Schottky barrier diode (SBD) range (12 RBR series and 12 RBQ series). These 178 devices are suitable for protection and rectification circuits in automotive, industrial, and consumer applications.
The Open Group Sensors Open System Architecture (SOSA) Technical Standard 1.0 is being highlighted by TE Connectivity, which has a portfolio of connector options that correspond with it. SOSA relies on the OpenVPX architecture for interoperability, improved subsystem SWaP-C (Size, Weight, Power, and Cost), and rapid technological upgrades in aerospace and military embedded systems.
Vishay Intertechnology, Inc. unveiled a new modular panel potentiometer for off-road, aeronautics, and industrial applications that offers an industry-high rotating torque of 8 Ncm – 200 per cent more than the closest competitor device. The Vishay Sfernice P11H is a tiny 12.5 mm size with a 6.35 mm shaft diameter that can hold up to seven modules.
Samsung Electronics Co., Ltd. stated that it is one of the first global vendors to join Orange's Open RAN Integration Center in Paris, France. The two companies will work together to disaggregate the hardware and software aspects of traditional RAN, using Samsung's virtualized RAN (vRAN), which has been tested in the field with global tier-one operators.
Chip Resistor Market Drivers
Rising demand for high-performance based electronic and electrical systems, a high adoption rate for premium/high-end vehicles, increasing levels of demand for advanced technologies for automotive components, and an increase in the adoption rate of 4G and 5G networking technology are some of the key factors driving the chip resistor market. Furthermore, current advances such as high-definition equipment and environmentally friendly electronic items have increased market demand for chip resistors. Furthermore, the market is predicted to grow due to an increase in demand for consumer electronic items and high-end products or devices in developed countries. Furthermore, technical advancements in the consumer electronics industry, as well as an increase in application in automotive and transportation, are expected to add to the chip resistor market's growth.
Chip Resistor Market Restraints
During the projection period, raw material price volatility is expected to limit the global market growth. Raw materials used in chip resistors, such as ruthenium and palladium, continue to fluctuate in price and are predicted to have a long-term impact on-chip resistor pricing.
Chip Resistor Market Segmentation
Technology: The market is segmented into Thick Film and Thin Film.
During the projected period, the thick film chip resistor sub-segment is expected to have a dominant market share in the global market, with revenue of $1.5 billion. This is due to an increase in the need for improved tiny tools in many industries such as consumer electronics and automotive, as well as the increased acceptance of electronics and electrical equipment.
Thin-film chip resistors are expected to expand at the quickest rate, generating $1.2 billion in revenue by 2026, up from $727.4 million in 2020. The global thin film chip resistors market is predicted to rise due to increased data centre infrastructure and the adoption of lead-free components.
End-User: The market is segmented into Consumer Electronics, Industrial, Automotive & Transportation, Telecommunication, Aerospace & Defense, and Others.
The global chip resistor market's consumer electronic sub-segment is expected to grow at the quickest rate, surpassing $444.7 million by 2026, up from $238.8 million in 2020. The increased need for chip resistor solutions for consumer electronics can be ascribed to the development in the number of consumer electronic devices such as smartphones, tablets, and PCs.
During the analysis period, the telecommunication sub-segment is expected to have a dominant market share in the global market and generate $955.7 million in revenue. In today's technologically advanced world, the expanding number of smart gadgets and smartphones, as well as the necessity of working from home, may provide significant potential for the sub-segment over the projection period.
Chip Resistor Market Regional Analysis
By 2026, the Asia-Pacific Chip Resistor market is expected to generate $ 1.4 billion in revenue, up from $ 819.0 million in 2020. The increased use of high-end technology-based gadgets, combined with low electronics prices, is resulting in improved electronic products, allowing the area to dominate the chip resistor market share.
Asia-Pacific is one of the most important regions for the chip resistor devices market, supported by government regulations that stimulate the expansion of chip resistor production. Likewise, the Chinese government raised between USD 23 and USD 30 billion to fund the National IC Investment Fund's second phase. In addition, the rise of many industries in China and India, such as telecommunications and consumer electronics, is expected to increase demand for thick film devices. Rising urbanisation, disposable income, FDI policies, and e-commerce activities are all expected to enhance demand for electronic gadgets in this region, leading to increasing chip resistor demand.
Europe is speculated to be the world's largest purchaser of electrical devices. By 2026, semiconductor sales are predicted to increase by around 15%. During the projected period, the automotive segment is expected to be the largest market for thick film resistors by the end-use industry. The demand for thick film resistors is expected to rise as the demand for fast internet access, consumer electronics, comfort, and luxurious features rises. In Europe and North America, government regulations for high-safety equipment installation have increased the demand for high-accuracy chip resistors.
Chip Resistor Market Leader
Chinese firm Yageo is the largest supplier of Chip Resistors in the world.
Chip Resistor Market Key Players
Impact of COVID-19 For Chip Resistor Market
COVID-19 has recognized as a pandemic in 2019, and its impact on several industries, including the worldwide chip resistor industry, was felt. The fall in the growth of important industries using chip resistors, such as industrial electronic equipment and automobiles, has hampered market growth in recent years due to the COVID-19 pandemic. Due to lockdown measures enacted in several nations, chip resistor manufacturing activities have been restricted, and many production facilities have been totally or partially shut down. Furthermore, the export embargo, combined with a scarcity of raw materials, has caused delays in the fabrication of chip resistors. Due to difficulties in daily operations, demand from end-use industries such as consumer electronics, industrial, automotive & transportation, IT & telecommunication, and others have been significantly reduced. After the lockdown is removed, normal operations are likely to resume at full capacity, with demand rising steadily thereafter.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Chip Resistor Market, By Technology
6.1.1 Thick Film
6.1.2 Thin Film
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Chip Resistor Market, By End-User
6.2.1 Consumer Electronics
6.2.3 Automotive & Transportation
6.2.5 Aerospace & Defense
6.2.7 Market Size Estimations & Forecasts (2021-2026)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Chip Resistor Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Technology
7.2.3 By End-User
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Technology
7.3.3 By End-User
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Technology
7.4.3 By End-User
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Technology
7.5.3 By End-User
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Technology
7.6.3 By End-User
8. Key Player Analysis
8.1 TE Connectivity
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 KOA Corporation
8.4 ROHM Semiconductor
8.5 Murata Manufacturing
8.6 Viking Tech
8.7 TT Electronics
8.8 Bourns Inc
8.9 Vishay Intertechnology Inc
8.10 CTS Corp
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures