Global Precision Resistor Market Size Study & Forecast, by Type (Precision Wire Wound Resistors, Precision Metal Film Resistors, Precision Metal Foil Resistors), By Application (Test & Measurement Equipment, Medical Equipment, Semiconductors, Telecommunic

Global Precision Resistor Market Size Study & Forecast, by Type (Precision Wire Wound Resistors, Precision Metal Film Resistors, Precision Metal Foil Resistors), By Application (Test & Measurement Equipment, Medical Equipment, Semiconductors, Telecommunications, Industrial Automation, Others), and Regional Analysis, 2023-2030

Global Precision Resistor Market is valued at approximately USD 4.40 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2023-2030. The precision resistor is an electronic component that has a very minor tolerance for fluctuation in resistance value. Precision resistors are commonly used in applications where accuracy is crucial, such as in medical equipment and scientific instruments. These resistors are usually made of wire-wound or film materials. Wire-wound resistors are typically made by winding a thin wire of a conductive material, such as copper or nickel, around a ceramic core. On the other hand, film resistors are made by depositing a thin film of a conductive material, such as metal or carbon, on a substrate. Precision resistors find applications in several fields, including telecommunications, electronics, and scientific research, and measurement & control systems. It is commonly used in precision signal conditioning circuits, instrumentation, feedback networks, voltage dividers, and calibration equipment. Increasing demand for high-precision electronics, along with the rise in demand for test and measurement equipment are a few factors that propel the expansion of the precision resistor market across the globe.

Moreover, the increasing demand for precision resistors in the automotive industry, coupled with the advancements in the telecommunication and networking sector is further fueling the market demand. In addition, the rising inclination towards cutting-edge technologies, along with the robust growth of automation and robotics are a few other factors acting as a catalyzing factor for market growth across the globe. The automation and robotics industry are growing rapidly across sectors, including manufacturing, healthcare, automotive, and logistics. Precision resistors are essential in many automations and robotics application, as it enable feedback control, accurate sensing, and signal conditioning for optimal performance. For instance, a record number of 517,385 new industrial robots were installed in industries worldwide in 2021, representing an increase of almost 31% from 2020, as per the new World Robotics report. With nearly 3.5 million units already operating worldwide, the number of robots in use has reached a new high. Similarly, the International Federation of Robotics organization stated that China has been the world’s largest industrial robot market since 2013, accounting for nearly 52% of total installations in 2021. While, Japan, the U.S., the Republic of Korea, Germany, and China are the major markets for industrial robots in 2021, accounting for 78% of the global installation. Thus, these aforementioned factors are propelling the growth of the Precision Resistor Market during the estimated period. Moreover, the surge in adoption of Industry 4.0 and smart factory technologies, as well as the rising investments in research and development present various lucrative opportunities over the forecasting years. However, the intense competition from substitutes such as capacitors and inductors, along with the volatility of raw material prices are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Precision Resistor Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022, owing to the growing efforts towards technical advances, increased spending on research and development, and the presence of well-established market players in the region. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. Rising penetration of industry 4.0 and smart manufacturing technologies, coupled with growing demand for high-precision electronics are significantly propelling the market demand across the region.

Major market players included in this report are:
Panasonic Holdings Corporation (Japan)
Murata Manufacturing Co., Ltd. (Japan)
TDK Corporation (Italy)
Samsung Electro-Mechanics (Korea)
YAGEO Group. (Taiwan)
KYOCERA AVX Components Corporation (Japan)
Vishay Intertechnology, Inc. (U.S.)
TE Connectivity (Switzerland)
OMRON Corporation (Japan)
Vishay Precision Group, Inc. (U.S.)

Recent Developments in the Market:
In September 2021, TE Connectivity, a specialist in connectors and sensors, has acquired three businesses, including Toolbox Medical Innovations, Wi Inc., and microLIQUID, which were involved in manufacturing, usability testing, clinical research, and developing microfluidic cartridge and blister reagent packages. These acquisitions is expected to increase TE's potential to be a reliable partner to its clients through the inclusion of design and production solutions.
In October 2020, Vishay Intertechnology, Inc. announced that it company has acquired the entire global business and the majority of the assets of Applied Thin-Film Products, a privately held American manufacturer of build-to-print thin film substrates for microwave, fibre optics, and life sciences in order to boost its competitiveness.

Global Precision Resistor Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Precision Wire Wound Resistors
Precision Metal Film Resistors
Precision Metal Foil Resistors

By Application:
Test & Measurement Equipment
Medical Equipment
Semiconductors
Telecommunications
Industrial Automation
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Panasonic Holdings Corporation (Japan)
Murata Manufacturing Co., Ltd. (Japan)
TDK Corporation (Italy)
Samsung Electro-Mechanics (Korea)
YAGEO Group. (Taiwan)
KYOCERA AVX Components Corporation (Japan)
Vishay Intertechnology, Inc. (U.S.)
TE Connectivity (Switzerland)
OMRON Corporation (Japan)
Vishay Precision Group, Inc. (U.S.)

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