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Global Chip Resistor Market to Reach About USD 1.44 Billion by 2027, Aided by the Growing Demand for Consumer Electronics

According to a new report by EMR titled, ‘Global Chip Resistor Market Report and Forecast 2022-2027’, the market attained a value of about USD 1.06 billion in 2021. The market is further expected to grow at a CAGR of 6.20% in the forecast period of 2022-2027 to reach a value of nearly USD 1.44 billion by 2027.

The market for chip resistor is being aided by the growing demand for consumer electronics, owing to the rising disposable income of the middle-class population. As chip resistors are cost-effective and highly adaptable, they are extensively used in diverse end-use sectors like medical, automotive, consumer electronics, and defence, among others. The growing miniaturisation of chip resistors is also boosting their use in various applications requiring enhanced precision, hence aiding the market growth.

 

In addition, with surged electrical stability and mechanical strength, chip resistors are increasingly used to boost the dependability and reliability of vehicles in the automotive sector. The growing popularity of electric vehicles and the development of innovative chip resistors that offer high accuracy and reliability for deployment in control units of vehicles are invigorating the market’s expansion.

 

Panasonic Industry Co., Ltd. (Panasonic Corporation), one of the leading companies in the market, launched the ERJ-UP3 Series Anti-Sulfurated Thick Film Chip Resistors in April 2020. The anti-surge and high-power resistors are ideal for harsh and challenging environments and are available in an 0603-inch case size. They offer anti-sulphurisation characteristics to reduce the risk of open circuits caused by a sulphur disconnection by using anti-sulphurated electrode materials and structures.

 

Moreover, the series features high power at 0.25W in a 0603 inch/ 1608 mm case size and ESD surge characteristics that are superior to standard thick film resistors. It also complies with JIS C 5201-8, IEC 60115-8, JEITA RC-2134C, and AEC-Q200, which ensures optimal reliability and quality of chip resistors.

 

Market Analysis by Type, Shape, Application, and Region:

  • The market, on the basis of type, can be divided into thick chip resistor, thin chin resistor, general purpose chip resistors, and current-sensing resistor, among others.
  • Based on shape, the market can be divided into square and rectangular.
  • The major applications of chip resistor include industrial, consumer electronics, automotive and transportation, telecommunication, aerospace and defence, and medical, among others.
  • The regional markets for chip resistor include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The growing demand for chip resistors to maintain current and voltage in automotive, consumer electronics, and medical applications is aiding the growth of the market.
  • The market for chip resistor is being driven by technological advancements, the increasing miniaturisation of chip resistors, and the electrification of various industries such as transportation and telecommunication, among others.
  • The development of high precision chip resistors with enhanced accuracy and lower risk of electrostatic risk is likely to fuel the market.
  • The increasing use of chip resistors to boost productivity and efficiency in various applications is expected to propel the market growth.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for chip resistor for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, shapes, applications, and major regions of chip resistor.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global chip resistor market are ROHM CO., LTD., YAGEO Group, TE Connectivity Corporation, Bourns, Inc., and Panasonic Industry Co., Ltd. (Panasonic Corporation), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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