According to a new market research report published by Transparency Market Research, titled ‘Chip Resistor Market (Type: Thick-film Resistor, Thin-film Resistor, Current-sensing Resistor, and Others; and Application: Consumer Electronics, Industrial, Automotive & Transportation, Medical, Telecommunication, Aerospace & Defense, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ the global chip resistor market is expected to reach value of US$ 2,647.8 by 2027. The market is projected to expand at a CAGR of 6.14% from 2019 to 2027. According to the report, the market would continue to be influenced by the increasing digitization in industries across the globe. In terms of demand, Asia Pacific is projected to lead the global market, with the market in the region expanding at a CAGR of 7.33% during the forecast period.
Thick-film resistor segment held a major market share in 2018
Based on type, the chip resistor market has been segmented into thick-film resistor, thin-film resistor, current-sensing resistor, and others. The thick-film resistor segment held a major market share, in terms of revenue, in 2018. This is attributable to low cost and widespread usage of thick-film chip resistors in a variety of consumer electronics devices.
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Automotive & transportation to be rapidly expanding application segment throughout the forecast period
In terms of application, the market has been segmented into consumer electronics, industrial, automotive & transportation, medical, telecommunication, aerospace & defense, and others. This can be attributed to increasing application of electronics in automobiles as well as rapid advancements in electric vehicles. Furthermore, the automotive & transportation segment is expected to expand at a significant CAGR of 7.07% during the forecast period.
Asia Pacific expected to continue to hold a significant share
Asia Pacific is expected to hold the maximum share of the global chip resistor market during the forecast period. The growth is primarily attributable to the expanding consumer electronics industry and rapid pace of development of electric vehicles in the region, especially in China.
Major players operating in the global chip resistor market are Rohm Semiconductors, Yageo Corporation, TE Connectivity Ltd., Susumu Co. Ltd., Bourns Inc., and CTS Corporation. Details such as financials, business strategies, recent developments, product implementation expertise, key contracts, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
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The global chip resistor market has been segmented as follows:
Global Chip Resistor Market, by Type
- Thick-film Resistor
- Thin-film Resistor
- Current-sensing Resistor
- Others
Global Chip Resistor Market, by Application
- Consumer Electronics
- Industrial
- Automotive & Transportation
- Medical
- Telecommunication
- Aerospace & Defense
- Others
Global Chip Resistor Market, by Geography
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific (APAC)
- India
- Japan
- China
- Rest of APAC
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
- South America
- Brazil
- Rest of South Ameria
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html
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