Precision Resistor Market Forecasts to 2030 – Global Analysis By Product (Collectibles, Jewelry & Accessories, Musical Instruments and Other Products), Type (Precision Metal Foil Resistors, Precision Metal Film Resistors and Precision Wirewound Resistors)

Precision Resistor Market Forecasts to 2030 – Global Analysis By Product (Collectibles, Jewelry & Accessories, Musical Instruments and Other Products), Type (Precision Metal Foil Resistors, Precision Metal Film Resistors and Precision Wirewound Resistors), Services (Selling, Buying and Loan), Application, End User and By Geography

According to Stratistics MRC, the Global Precision Resistor Market is accounted for $4.9 billion in 2023 and is expected to reach $8.7 billion by 2030 growing at a CAGR of 8.5% during the forecast period. Precision resisters are defined as resisters that, although utilizing the same resistance technology, achieve greater specifications for resistance accuracy, temperature coefficient, load life, and long-term stability. A normal resistor with almost exact ohmic values and a very low tolerance value—as low as 0.005%—is a precision resistor. Bridges, precision AF attenuators, and measurement calibration equipment frequently require precision resistors. Precision resistors are a general term for a variety of resistor types. Due to their low manufacturing costs, carbon composite precision resistor types are being employed more frequently in electrical circuits.

Market Dynamics:

Driver:

Consumer electronics are in more demand and governmental norms are evolving

While emerging nations are currently working to implement 5G in their respective countries, the global demand for 5G requires stronger network infrastructure and devices. For instance, it is predicted that the current 5G revolution will increase India's yearly output of mobile phones and network equipment from the current USD 75 billion to USD 100 billion, representing a 40% increase in growth. The use of consumer electronics and data services, along with growing digitalization, has increased demand for semiconductor chipsets globally. The market is expanding simultaneously because most semiconductors use resistors for their fundamental power and resistance management functions.

Restraint:

Challenges of miniaturization and disruption in the supply chain

Precision resistors face difficulties as electronic gadgets become increasingly smaller. Resistors must have lower footprints while maintaining accurate resistance values and power handling capabilities due to shrinking device sizes and rising power densities. It can be technically difficult and expensive to achieve precision in small form factors. Additionally, due to the complex worldwide supply chain involved in procuring materials, components, and equipment, the market for precision resistors may face supply-chain issues. Production schedules can be affected, resulting in longer lead times and a decrease in the availability of precision resistors. Supply chain disruptions can also be caused by material shortages, political conflict, or natural disasters.

Opportunity:

Rising demand for innovative technology

To attract foreign direct investment, governments are developing a variety of policies, including free trade agreements. The demand for consumer electronics, smart devices, and smart home equipment is anticipated to increase as a result of these reductions. Additionally, the market will grow in the next few years as a result of this electronic component's increased accuracy, power restriction, temperature resistance, and safety standards.

Threat:

High cost and tolerances for manufacturing

To get accurate resistance values, precision resistors often need premium raw materials and production techniques. Higher production costs relative to conventional resistors are a result of these considerations. Precision resistors can therefore be more expensive, which might prevent them from being widely used, particularly in markets or applications where price is an important factor. However, to ensure exact resistance values, precision resistors must adhere to strict manufacturing tolerances. It can be difficult to consistently achieve these standards across high manufacturing volumes. The precision and uniformity of resistor values can be affected by changes in manufacturing processes, machinery, and environmental factors, which can result in yield losses or higher production costs.

Covid-19 Impact:

Precision resistor demand throughout several regions has been lower than anticipated compared to pre-pandemic levels, which is a shocking and unanticipated result of the worldwide COVID-19 pandemic. During the pandemic, the demand for precise resistors changed across several industries. Precision resistor demand increased in some industries, including healthcare, telecommunications, and consumer electronics, but decreased in others due to economic uncertainty and reduced production activity. The change in demand has a conflicting effect on the market as a whole.

The semiconductors segment is expected to be the largest during the forecast period

Due to the rising demand for smartphones and other electronic devices, as well as the adoption of cloud-based computing and the Internet of Things (IoT), the semiconductor category maintained the largest share of the market during the anticipated period. Additionally, the rapid increase in high-tech products like AI and its integration into 5G networks, automotive, and industrial devices are also major driving forces in this segment of the market. Moreover, modern electronics rely on integrated circuits, which are composed of multiple semiconductor elements like transistors, diodes, and resistors.

The precision metal film resistors segment is expected to have the highest CAGR during the forecast period

Over the course of the projection period, the precision metal film resistor segment is anticipated to grow profitably. These resistors, which provide electrical resistance and restrict the flow of current, are essentially passive electronic components. Additionally, A conductive metal substrate is covered in a thin layer of insulating ceramic and plastic powder. Not only that, but it is also utilized in manufacturing products, automobile electronics, medical devices, test and measurement devices, etc. In applications where a low temperature coefficient, initial precision, and less noise are necessary, this segment is getting used more often.

Region with largest share:

Due to the presence of existing and developing enterprises with substantial dominance of markets in South Korea, China, and India, Asia Pacific is predicted to hold the largest share of the market during the projected period. In addition, the regional market is expanding due to the use of expensive electronics combined with high-tech equipment. Overall, the Asian region's market for precision resistors is expanding rapidly as a result of rising demand for highly accurate resistors, the availability of cutting-edge technologies, and an increase in R&D activities. This is making them more affordable for customers and lowering the cost of production. These elements are boosting the regions growth.

Region with highest CAGR:

Owing to the region's robust industrial base, which is fueling demand for precision resistors, North America is predicted to experience profitable growth over the projected time frame. The high-tech manufacturing industry in the area is another factor in increasing demand for these components. Furthermore, the robust economy and high-tech industrial sector of the area further support the expansion of the market for precision resistors. Precision resistor demand has increased as a result of enterprises being able to invest in new technologies and manufacturing methods because of the region's robust economic growth.

Key players in the market

Some of the key players in Precision Resistor market include TE Connectivity, Viking Tech Corp, EZCorp Inc, Panasonic, Dollar Financial Group Global Corporation , Susumu, First Cash Financial Services Inc, Walsin Technology Corporation, Cash America International Inc , Gold & Silver Pawn Shop and Samsung Electro-Mechanics.

Key Developments:

In January 2023, Bourns, Inc. announced the expansion of its product portfolio with the release of high-power thick film resistors with four new AEC-Q200 compliant product series.

In May 2022, Vishay Intertechnology, Inc. announced the launch of a new high-precision thin film wraparound chip resistor for military, industrial, and aerospace applications.

In March 2022, Murata acquired Resonant Inc. at USD 4.50 per share to make its position strong in the telecommunications market.

Products Covered:
• Collectibles
• Jewelry & Accessories
• Musical Instruments
• Other Products

Types Covered:
• Precision Metal Foil Resistors
• Precision Metal Film Resistors
• Precision Wirewound Resistors

Services Covered:
• Selling
• Buying
• Loan

Applications Covered:
• Industrial Automation
• Telecommunications
• Test & Measurement
• Other Applications

End Users Covered:
• Semiconductors
• Medical Equipment
• Automotive
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Companies Mentioned
TE Connectivity
Viking Tech Corp
EZCorp Inc
Panasonic
Dollar Financial Group Global Corporation
Susumu
First Cash Financial Services Inc
Walsin Technology Corporation
Cash America International Inc
Gold & Silver Pawn Shop
Samsung Electro-Mechanics