Precision Resistor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Precision Resistor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Precision Resistor Market

The precision resistor market size was valued at USD 4.16 billion in 2021, and the market is now projected to grow from USD 4.35 billion in 2022 to USD 6.40 billion by 2029, exhibiting a CAGR of 5.7% during the forecast period of 2022-2029.

Pandemic notably impacted semiconductor cloth sales and supply chains, leading to a surprising drop in internet income for manufacturers like Murata Manufacturing Co. Ltd. This decline turned into in large part because of the decline in main industries like car and industrial digital device. However, put up-pandemic, the rising call for consumer electronics products has helped the semiconductor enterprise grow. This call for is anticipated to increase across healthcare, electronics, and car sectors as producer’s attention on restructuring their operational commercial enterprise fashions to create a disruption-proof model. This is anticipated to enhance universal efficiency and make a contribution to the precision resistor marketplace increase.

The international 5G demand is boosting India's annual manufacturing of mobile phones and network gadget with the aid of $100 billion, accounting for 40% of increase. This growth is pushed by using rising digitalization, purchaser electronics, and facts services, that have improved the demand semiconductor chips. The majority of semiconductors have resistors for power and resistance manage, that is increasing call for customer electronics like smartphones, laptops, and gaming consoles. This is helping India achieve its $300 billion electronics marketplace goal, with investments in customer electronics production and technical enhancements riding market growth.

Governments are implementing free alternate offers to draw overseas funding, boosting call for customer electronics, clever devices, and smart domestic appliances. The electronics component desires to be greater accurate, strength-restricting, temperature-resistant, and more secure, boosting the precision resistor market growth. India's electric powered vehicle (EV) sales are anticipated to grow at a CAGR of 90% and reach USD a 150 billion by way of 2030. EVs use Intelligent Power Modules, battery manage, protection modules, and thin metallic movie resistors for temperature manage and compactness. Countries like Japan, the U.S., India, and Australia are developing in-residence fabrication for ultra-precision solutions for precision device machines, such as CNC, commercial robots, military gadget accuracy, and aeronautical enterprise overall performance. These tendencies are increasing international marketplace proportion.

Comprehensive Analysis of Precision Resistor Market

The market for precision wire wound resistors, precision metal film resistors, and precision metal foil resistors is expected to grow significantly. These passive electronic components are used in various industries, including medical, communication, automotive, and industrial products. The market is divided into test & measurement equipment, industrial automation, medical equipment, semiconductors, telecommunications, and others. The semiconductors segment is expected to experience substantial growth due to the demand for smartphones and the proliferation of applications like the Internet of Things and cloud computing. The telecommunications segment is expected to see significant growth as precision resistors are used in transmission lines to match impedance and prevent reflections. The industrial automation segment is also experiencing significant growth due to rising demand and high-performance instrumentation in modern industrial automation applications. However, the test & measurement equipment and medical equipment segments are predicted to experience sluggish growth due to higher accuracy levels compared to other resistor types.

The Asia Pacific region lead the precision resistor market share by benefitting a market size of USD 1.78 billion in 2021 due to the presence of developed and developing companies in China, India, and South Korea. The location is pushed by way of the adoption of high-end technology-based gadgets and cheap digital costs. China, with its largest market proportion, is anticipated to enjoy the best CAGR in the coming years because of the growing presence of neighborhood producers like Tzaiyuan Enterprise Co., Ltd. And Yageo Corporation, who provide a huge range of merchandise at reduced costs in bulk.

These players are growing resistor products using advanced manufacturing methods, movie resistor technology, and extremely-excessive precision solutions. Electro Technik Industries, Inc. Partnered with Precision Resistor Company, Inc. In September 2022, expanding their product portfolio. Other key organizations within the market encompass Murata Manufacturing Co., Ltd., TDK Corporation, Samsung Electro-Mechanics, YAGEO Groupx, Kyocera AVX Components Corporation, Vishay Intertechnology, TE Connectivity_, OMRON Corporation, and Vishay Precision Group.

Murata obtained Resonant Inc. At USD 4.50 in step with share to make its role sturdy in the telecommunications market.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2018-2029

Base Year

2021

Estimated Year

2022

Forecast Period

2022-2029

Historical Period

2018-2020

Unit

Value (USD Billion)

Segmentation

By Type, Application, and Region

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 (Automotive and Others)

By Region

North America (By Type, Application)

• U.S. (By Type)
• Canada (By Type)

Europe (By Type, By Application)

• U.K. (By Type)
• Germany (By Type)
• France (By Type)
• Italy (By Type)
• Russia (By Type)
• Rest of Europe

Asia Pacific (By Type, Application)

• China (By Type)
• Japan (By Type)
• India (By Type)
• South Korea (By Type)
• Australia (By Type)
• China Taiwan (By Type)
• Indonesia (By Type)
• Thailand (By Type)
• Malaysia (By Type)
• Rest of Asia Pacific

Middle East & Africa (By Type, Application)

• GCC Countries (By Type)
• South Africa (By Type)
• Rest of Middle East and Africa

Latin America (By Type, Application)

• Brazil (By Type)
• Mexico (By Type)
• Rest of Latin America

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