The global chip resistor market size was USD 4.0 Billion in 2022 and is expected to reach USD 7.35 Billion in 2032, and register a revenue CAGR of 7% during the forecast period. The market revenue growth is primarily driven by rising demand for electronic devices in several sectors, including consumer electronics, automotive, aerospace, and telecommunications. In the upcoming years, market revenue growth is expected to be driven by increasing usage of 5G technology and the Internet of Things (IoT).

The need for premium electronic components is one of the major factors driving the chip resistor market revenue growth. Demand for high-performance chip resistors that can endure extreme environmental conditions is being driven mostly by the automobile industry. In addition, the desire for smaller, more effective, and higher-performing chip resistors is being driven by rising popularity of smartphones and other consumer devices. In the upcoming years, it is also expected that the growing use of Light Emitting Diode (LED) lighting and Renewable Energy sources will create a high demand for chip resistors.

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In addition, the chip resistor market revenue growth is expected to be driven as Electric Vehicles (EVs) are increasingly being adopted. To function effectively, EVs need a lot of electronic parts, such as chip resistors. The demand for chip resistors is expected to expand rapidly over the next several years due to the rising demand for EVs.

The market does face certain difficulties, though. The availability of raw materials is one of the major issues the chip resistor business is now facing. Chip resistor manufacture involves a variety of raw materials, including ceramics, metals, and alloys. The cost of production and, ultimately, the market price of chip resistors can be considerably influenced by availability and pricing of these raw materials. In addition, many firms are seeking market share in this extremely competitive sector. With this, it is challenging for new competitors to become established in the market.

The growing use of Surface-Mount Technology (SMT) in chip resistor manufacturing is one of the emerging trends in the global market. Compared to through-hole technology, SMT has several benefits, such as reduced component sizes, a higher component density, and superior thermal performance. As a result, it is expected that during the next few years, demand for SMT chip resistors would rise dramatically.

Competitive Landscape:

  • Bureau Veritas SA
  • General Electric Company
  • Intertek Group plc
  • ALS Limited
  • Parker Hannifin Corporation
  • PerkinElmer, Inc.
  • Shell Global
  • SGS SA
  • Schneider Electric SE
  • Total S.A.

The global market is further segmented into type and application:

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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