Global Chip Resistor Market Predicted to Garner Revenue of $3,330.3 Million by 2028 at a CAGR of 6.9% from 2021-2028 - Exclusive Report [182 Pages] By Research Dive

The global chip resistor market is set to gain significant revenue in the forecast period. The Asia-Pacific region is predicted to dominate the market. Various key players are working on initiatives to help in the market growth

NEW YORK, Aug. 24, 2021 /PRNewswire/ -- As per the latest report published by Research Dive, the Global Chip Resistor Market is anticipated to witness a rise in revenue from $1,932.8 million in 2020 to over $3,330.3 million by 2028, rising at a stable CAGR of 6.9% from 2021-2028.

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Regional Analysis

The Asia-Pacific Chip Resistor Market is anticipated to witness a rise in revenue from $819.0 million in 2020 to over $1,434.1 million by 2028. This growth is due to the implementation of advanced technology which along with affordable pricing of electronics has also enhanced the functioning of products as well. These factors have initiated the growth of the chip resistor market in the analysis period.

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Key Market Segments

• By technology, the thick film chip resistor sub-segment garnered a revenue of $1,563.0 million in the forecast period. This growth is credited to the increased demand for production of groundbreaking products such as miniature tools as well as the utilization of electrical and electronic devices. Also, initiatives by organizations such as Bourns who introduced a new thick film resistor known as the AEC-Q200, which was set to be used in various sectors such as industrial and telecom also contributed to the growth of the segment.
• By end user, the telecommunication sub-segment is predicted to gain revenue of $955.7 million in the analysis period. The rapid increase in the production of smartphones and other smart devices has ensured the growth of the segment. Also, the requirement of working from home has also created opportunities of growth for the segment in the analysis period.

Market Dynamics

The world of technology has experienced multiple advancements over the years which include the discovery and introduction of Internet of Things and cloud computing. These factors are the primary source of growth of the global chip resistor market. To add further, implementation of Artificial Intelligence as well as 5G networks into the various products has led to an increase in the chip resistor market share in the analysis period.

On the other hand, the constantly shifting prices of the raw materials used in the production of chip resistors has limited the growth of the market. Metals such as ruthenium and palladium are mainly utilized in the manufacturing process and the fluctuation of prices is expected to restrain the growth of the market.

The various changes in technology which include 5G, autonomous vehicles as well as IoT is predicted to provide a boost for an increase in the chip resistor market size. These advancements have initiated the appropriate circumstances under which manufactures can provide their contribution to the market in the future. These factors are set to assist in the growth of the chip resistor market over the estimated timeframe.

Key Players, New Developments, and Strategies

As per the report, some of the renowned key players of the market are –

1. Bourns Inc.
2. Vishay Intertechnology, Inc.
3. Tzai Yuan Enterprise Co.
4. Yageo Corporation
5. AVX Corporation
6. TE Connectivity
7. Koa Corporation
8. International Manufacturing Services
9. Rohm Semiconductor
10. Susumu Co, Ltd.

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For instance, in May 2021, Vishay Intertechnology, a leading manufacturer of semiconductors and other electronic components launched a new rage of high precision, thin film wraparound chip resistors. These provide a compact TCR of ± 2 ppm/°C over a larger range of both temperature and resistance while also containing a high-power rating. They come in five sizes of 0402 to 2010 and are primarily used in the industrial, military or medical sector.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.

Impact of COVID-19 on the Global Chip Resistor Market

The rising cases of coronavirus resulted in several countries declaring travel bans and lockdowns to control its spread. But, this affected multiple industries including the chip resistor market. The disruption of the supply chain was major cause, as most manufacturers and industries were unable to find the raw materials required for production of chip resistors. Also, the lockdown led to industries being shut down resulting in a loss for the market.

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More about Industrial Refrigeration Market:

• Persistent Technological Advancements and Strategic Partnerships Among Major Companies to Create Vital Opportunities for the Global Chip Resistor Market Growth
• The Global Chip Resistor Market Anticipated To Generate A Revenue Of $ 3,330.3 Million, Growing At A CAGR Of 6.9% From 2021 To 2028 - Research Dive
• What are Different Types of Chip Resistors and Why are they Important?

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