Thin Film Chip Resistor Market Expected to Reach $1.1 Billion, Globally, By 2031 at 5.4% CAGR: Allied Market Research

Rise in demand for chip resistors to manage electric current supply efficiently drives the growth of the global thin film chip resistor market.

PORTLAND, Ore., Feb. 17, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Thin Film Chip Resistor Market By Type (Ultra Precision 0.05% Tolerance, 0.1% Tolerance, 1% Tolerance, and Others), Application (Instrumentation, Medical Instruments, Power Supply, Electric Power Equipment, Electronic Digital Products, and Others), End-User (Industrial Equipment, Consumer Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global film chip resistor industry was estimated at $631.2 million in 2021, and is anticipated to hit $1.1 billion by 2031, registering a CAGR of 5.4% from 2022 to 2031.

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Drivers, Restraints, and Opportunities

Rise in demand for chip resistors to manage electric current supply efficiently drives the growth of the global thin film chip resistor market. On the other hand, high cost of raw materials and the development of new technologies to replace thin film chip resistors hinder the market growth to some extent. However, advancements in emerging technologies such as electric and driverless cars, 5G, and the Internet of Things (IoT) are expected to create lucrative opportunities in the industry.

Report Coverage and Details:

COVID-19 Scenario:

• Disruptions in the supply chain and the closure of manufacturing units across the globe negatively impacted the global thin film chip resistor market, especially during the initial period.
• However, the market started recovering by the end of 2021.

The Ultra Precision 0.05% Tolerance segment to dominate by 2031

By type, the ultra precision 0.05% tolerance segment held the major share in 2021, holding more than half of the global thin film chip resistor market revenue. This is because this type of resistor is the most precise type of resistor and has a tolerance of just 0.05%. The 0.1% tolerance segment, on the other hand, would showcase the fastest CAGR of 7.0% throughout the forecast period.  This is attributed to its major applications in electronic devices like keyboards and mouse.

The Instrumentation segment to rule the roost

By application, the instrumentation segment accounted for more than one-third of the global thin film chip resistor market revenue in 2021, and is expected to rule the roost by 2031. This is owing to the many applications of thin film chip resistors in various fields. The electronic digital products segment, simultaneously, would showcase the fastest CAGR of 7.6% during the forecast period. This is due to the many advantages offered by thin film chip resistors in electronic digital devices such as resistance dividers.

The Industrial Equipment segment to retain its dominance by 2031

By end-user, the industrial equipment segment garnered the major share in 2021, generating nearly two-thirds of the global thin film chip resistor market revenue. The same segment would portray the fastest CAGR of 5.8% during the forecast period. The fact that thin film chip resistors are widely used in industrial equipment for controlling voltage and reducing resistance fuels the growth of the segment.

North America garnered the major share in 2021

By region, North America held the highest share in 2021, around two-fifths of the global thin film chip resistor market revenue. This is attributed to the presence of many instrumentation and medical industries where thin film chip resistors are widely used for voltage controlling. Asia-Pacific, simultaneously, would manifest the fastest CAGR of 7.6% throughout the forecast period. This is owing to the growing demand for consumer electronics goods among individuals across the world.

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Key Players in the Industry

• Elektronische Bauelemente GmbH (EBG)
• Rohm Co. Ltd.
• Ever Ohms Technology Co. Ltd.
• KOA
• Uniohm
• Panasonic
• Ralec Electronic Corp.
• Samsung Electro-Mechanics
• Ta-I Technology Co. Ltd.
• Tateyama Kagaku Industry Co. Ltd.

The report analyzes these key players in the global film chip resistor market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the thin film chip resistor market forecast, segments, current trends, estimations, and dynamics of the thin film chip resistor market analysis from 2021 to 2031 to identify the prevailing thin film chip resistor market opportunities.
• The market research is offered along with information related to key drivers, restraints, and thin film chip resistor market opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the thin film chip resistor market segmentation assists to determine the prevailing thin film chip resistor market opportunity.
• Major countries in each region are mapped according to their revenue contribution to the global thin film chip resistor market outlook.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global thin film chip resistor market trends, key players, market segments, application areas, and market growth strategies.

Thin Film Chip Resistor Market Key Segments:

By Type:

• Ultra Precision 0.05% Tolerance
• 0.1% Tolerance
• 1% Tolerance
• Others

By Application:

• Instrumentation
• Medical Instruments
• Power Supply
• Electric Power Equipment
• Electronic Digital Products
• Others

By End-User:

• Industrial Equipment
• Consumer Electronics
• Others

By Region:

• North America (U.S., Canada, and Mexico)
• Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East and Africa)

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