Global Precision Resistor Market Insights Forecasts to 2030
- The Precision Resistor market was valued at USD 3 billion in 2021.
- The market is growing at a CAGR of 6% from 2022 to 2030
- The global Precision Resistor market is expected to reach USD 6 billion by 2030
- North America is expected to grow the fastest during the forecast period
Get more details on this report -
The Global Precision Resistor Market is expected to reach USD 6 billion by 2030, at a CAGR of 6% during the forecast period 2022 to 2030.
The global COVID 19 pandemic has been staggering and unprecendented with precision resistor witnessing lower than anticipated demand across various regions than pre pandemic levels. Precision resistors are high standards of resistance accuracy, temperature coefficient, load life with same resistor technology as well as mounting method. Precision resistors are related to precision. In these resistors, accuracy is all about precision of the resistance value. Accuracy is impacted by various reasons which collectively referred to as stress. These include self heating generated by ambient temperature changes and resistors. Apart from this, even after power up, voltage or pressure from circuit boards, moisture from external environment, welding static electricity, corrosive gases, overload are various issues which fluctuate the resistance value of the resistor and impact the resistance accuracy.
This research report categorizes the market for Precision Resistor market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Precision Resistor market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Precision Resistor market.
Global Precision Resistor Market Report Coverage
|Market Size in 2021:||USD 3 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||6%|
|2030 Value Projection:||USD 6 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||220|
|Tables, Charts & Figures:||129|
|Segments covered:||By Type, By Application, By Region|
|Companies Covered:||TDK Corporation, Murata Manufacturing Co. Ltd., YAGEO Group, Vishay Intertechnology, Inc., Samsung Electro-Mechanics, TE Connectivity, KYOCERA AVX Components Corporation, OMRON Precision Group, Inc., Bourns, Isabellenhuette, Susumu, Viking Tech Corp, Walsin Technology Corporation, Panasonic, Cyntec.|
Get more details on this report -
The primary factor which boost the demand of resistors is the rising demand for consumer electronics like laptops, smartphones, and portable gaming consoles. This helps India in achieving USD 250 billion electronics market powerhouse goal. Thus, investments done in increasing the consumer electronics production and technical improvements are few of the key driving factors which are expanding the market.
Disruption in the demand and supply of film resistors and lack of profit margins owing to the continuous reduction of the prices of raw materials are key factors affecting the overall growth of the market. Apart from this, heavy investments done in research and development to create a stable and concise design for end use electronics is another restraining factor. In addition, upgrading the current research and development and manufacturing units for lead free and sustainable parameters will further increase costs for the manufacturers.
- In 2021, Precision Metal Film Resistors segment holds the largest market share over the forecast period.
On the basis of type, the global precision resistor market is segmented into precision wire wound resistors, precision metal foil resistors, and precision metal film resistors. Among these, precision metal film resistors segment is dominating the market with the largest market share. These resistors are basically the passive electronic components which offer electrical resistance and limit the flow of current. It is made of thin layer of insulating ceramic and plastic powder to a conductive metal substrate. Not only this but it is also used in medical electronic equipment, test and measuring equipment, automotive electronics, industrial products, etc.
- In 2021, Semiconductors segment is anticipated to witness the highest market growth over the forecast period.
Based on the application, the global precision resistor market is segmented into test and measurement equipment, medical equipment, industrial automation, semiconductors, telecommunications, and others. Among these, semiconductors segment is anticipated to witness the highest market growth owing to the increasing demand for electronic devices like smartphones and the adoption of cloud computing and Internet of Things (IoT). In addition, the sudden growth of advanced technological products like AI and its use into 5G networks, automotive and industrial electronics are also the other key driving factors of this segment.
Regional Segment Analysis of the Precision Resistor Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Get more details on this report -
Asia Pacific holds the largest market share over the forecast period.
Asia Pacific is dominating the market with the largest market share in the global precision resistor market and is anticipated to continue its dominance throughout the forecast period owing to the presence of developed and developing companies having the strong dominance in India, China, and South Korea. Apart from this, the regional market is witnessing the growth by the use of high end technology based devices along with cheap electronic prices.
The report offers the appropriate analysis of the key organizations/companies involved within the global Precision Resistor market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
- In September 2022, Electro Technik Industries, Inc. collaborated with Precision Resistor Company, Inc. that belongs to Largo, Florida. This collaboration will expand the product portfolio of an already extensive resistor offering.
- In March 2022, Murata has made an acquisition with Resonant Inc. at USD 4.50 per share to dominate its presence in the telecommunications market.
List of Key Companies
- TDK Corporation
- Murata Manufacturing Co. Ltd.
- YAGEO Group
- Vishay Intertechnology, Inc.
- Samsung Electro-Mechanics
- TE Connectivity
- KYOCERA AVX Components Corporation
- OMRON Precision Group, Inc.
- Viking Tech Corp
- Walsin Technology Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global Precision Resistor market based on the below-mentioned segments:
Precision Resistor Market, By Type
- Precision Wire Wound Resistors
- Precision Meta Foil Resistors
- Precision Metal Film Resistors
Precision Resistor Market, By Application
- Test & Measurement Equipment
- Medical Equipment
- Industrial Automation
- Others (Automotive and Others)
Precision Resistor Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Need help to buy this report?