Pune, India, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The global precision resistor market size was valued at USD 4.16 billion in 2021. The market is expected to expand from USD 4.35 billion in 2022 to USD 6.40 billion by 2029, exhibiting a CAGR of 5.7% from 2022 to 2029. The rise can be attributed to their growing popularity on account of long-term stability, high standards of resistance accuracy, and load life.
Fortune Business Insights™ provide this information in its research report, titled “Precision Resistor Market Forecast, 2022-2029”.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 5.7% |
| 2029 Value Projection | USD 6.40 Billion |
| Base Year | 2021 |
| Precision Resistor Market Size in 2021 | USD 4.16 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 120 |
| Segments covered | Type, Application and Geography |
Industry Growth Affected by Disruptions in Supply Chains and Semiconductor Materials
The coronavirus pandemic created supply chain disruptions and affected the sales of semiconductor materials. The market growth was affected by the impact on automobile and industrial electronic equipment sectors. However, the industry is expected to record substantial growth due to the rising demand among automotive and electronics sectors.
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Drivers and Restraints:
Market Value to Surge Impelled by Growing Use of Consumer Electronics
The precision resistor market growth is being impelled by the rising use of data services and consumer electronics and increasing digitalization. This is further impelled by the rising demand for superior network devices & infrastructure and the globally surging 5G demand.
However, the industry expansion is set to be hindered by a range of factors. These include lack of profit margins and disruptions in the supply of film resistors.
Segments:
Metal Film Resistors Segment to Record Substantial Growth Due to the Benefit of Electrical Resistance
Based on type, the market is fragmented into precision wire wound resistors, precision metal foil resistors, and precision metal film resistors. Of these, the precision metal film resistors segment is estimated to register appreciable expansion over the forecast period. This is due to the fact that the resistors provide electrical resistance.
Semiconductors Segment to Register Considerable Growth Owing to Surging Smartphone Demand
On the basis of application, the market for precision resistor is subdivided into industrial automation, telecommunications, test & measurement, semiconductors, medical equipment, and others. The semiconductors segment is expected to register a commendable surge over the estimated period. The escalation can be attributed to the growing demand for electronic devices such as smartphones.
Based on region, the market is subdivided into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides an in-depth analysis of the significant trends that are expected to drive industry expansion over the forecast period. It further gives an insight into the major aspects that are set to propel the business landscape throughout the estimated period. These findings have been provided following wide research and data collation.
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Regional Insights:
Asia Pacific to Lead Driven by the Presence of Various Companies in India, South Korea, and China
The Asia Pacific precision resistor market share is set to record appreciable expansion over the estimated period. The rise can be credited to the presence of several companies in China, India, and South Korea.
The North America market is anticipated to register substantial growth throughout the forthcoming years. This is majorly impelled by the existence of key manufacturers in the region. Besides, the companies in these regions are making efforts toward enhancing expenditure in research and development operations.
Competitive Landscape:
Leading Companies Strike Partnership Agreements & Deals to Strengthen Market Position
Prominent precision resistor companies are entering into partnership agreements and deals for strengthening their position in the market. Besides, various industry participants are focused on the adoption of a series of initiatives, including mergers, acquisitions, product developments, and others. Some of the additional initiatives include growing participation in trade conferences.
Key Industry Development:
June 2020 – Yageo Corporation acquired KEMET Corporation. With an enhanced global footprint, the combined company will be able to partner with blue chip and long-standing customers via 14 dedicated R&D centers and 42 manufacturing plants.
List of Key Players Mentioned in the Report:
- 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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Major Table of Contents:
- Global Precision Resistor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Type (USD)
- Precision Wirewound Resistors
- Precision Metal Film Resistors
- Precision Metal Foil Resistors
- By Application (USD)
- Test & Measurement
- Medical Equipment
- Semiconductors
- Telecommunications
- Industrial Automation
- Others (Automotive, etc.,)
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Precision Resistor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Type (USD)
- Precision Wirewound Resistors
- Precision Metal Film Resistors
- Precision Metal Foil Resistors
- By Application (USD)
- Test & Measurement
- Medical Equipment
- Semiconductors
- Telecommunications
- Industrial Automation
- Others (Automotive, etc.,)
- By Country (USD)
- U.S.
- Canada
- Europe Precision Resistor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Type (USD)
- Precision Wirewound Resistors
- Precision Metal Film Resistors
- Precision Metal Foil Resistors
- By Application (USD)
- Test & Measurement
- Medical Equipment
- Semiconductors
- Telecommunications
- Industrial Automation
- Others (Automotive, etc.,)
- By Country (USD)
- Germany
- France
- U.K.
- Italy
- Russia
- Rest of Europe
- Asia Pacific Precision Resistor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Type (USD)
- Precision Wirewound Resistors
- Precision Metal Film Resistors
- Precision Metal Foil Resistors
- By Application (USD)
- Test & Measurement
- Medical Equipment
- Semiconductors
- Telecommunications
- Industrial Automation
- Others (Automotive, etc.,)
- By Country (USD)
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
- Rest of Asia Pacific
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