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The thin film chip resistors market size is estimated to grow by USD 408.2 million at a CAGR of 4.5% between 2023 and 2028. The market is experiencing exponential growth due to the increasing digitalization and the shift towards remote work. This expansion necessitates advanced technologies to meet the demands for efficient, reliable, and scalable infrastructure solutions. Thin film printing technology emerges as a key offering in this regard, providing several advantages. It enables the creation of high-performance, cost-effective, and eco-friendly components. Thin film printing technology utilizes nanotechnology to deposit thin films on substrates, resulting in enhanced electrical conductivity, thermal management, and durability. Furthermore, it offers design flexibility, enabling customization of components to meet specific requirements. By adopting thin film printing technology, data center operators can enhance their infrastructure's performance, reduce costs, and ensure long-term sustainability.
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Thin film chip resistors are surface-mounted electronic components used in various applications, including computer power management, networking, robotics, and advanced material industries. These resistors offer advantages such as high precision, stability, and compact size, making them suitable for use in integrated circuit devices and surface-mount devices. The market is driven by the increasing demand for electricity and voltage control in various industries, such as automotive and transportation, IT and telecommunications, electronics, and IoT devices. The market is also fueled by the growing adoption of wireless communication technology and the need for high power ratings and low temperature coefficients and tolerances. They are available in various resistance values and are used in circuits to regulate current flow, control voltage levels, and provide resistance in electrical circuits. The market for these resistors is expected to grow significantly due to their increasing use in advanced technologies such as integrated circuit devices and surface-mount devices. The market is expected to grow at a steady pace due to the increasing demand for precision and stability in electrical circuits. The market is also expected to be driven by the growing demand for miniaturization and the need for high power ratings and low temperature coefficients and tolerances. The market is highly competitive, with key players including Murata Electronics, Panasonic, and Vishay Precision Group, among others. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth of data center infrastructure is notably driving market growth. They play a crucial role in regulating voltage and current within the electronic circuits of various applications, including passive electronic components, healthcare equipment, aerospace and military technology, solar energy systems, and power supply equipment. These resistors are increasingly being adopted due to their eco-friendly nature, as they are lead-free and do not contain toxic materials such as Ruthenium or Palladium. The demand is escalating, driven by the surge in data storage requirements for industries like IT and telecommunications, automotive and transportation, and electronics. Precision and long-term reliability are essential factors in applications such as medical instruments, frequency control in telecommunications equipment, and precision resistors in industrial equipment.
Furthermore, they are also used in harsh sulfur environments, such as integrated circuit devices and surface-mounted electronic components, making them suitable for applications in the automotive industry and electric power steering systems. Additionally, they find applications in advanced technologies like infotainment systems, mobile health technologies, patient identification, ECG devices, detection monitors, and robots, where precise resistance values are necessary. In the solar industry, they are used in spraying disinfectants and diagnostics, while in the healthcare sector, they are employed in potentiometers and thermometers. Overall, the market is expected to grow significantly due to the increasing demand for miniaturization, precision, and eco-friendly solutions in various industries. Thus, such factors are driving the growth of the market during the forecast period.
Shifting focus toward lead-free components is the key trend in the market. The market is witnessing significant growth due to the increasing demand for lead-free passive electronic components. With the harmful effects of lead becoming increasingly apparent, governments and industry players are prioritizing the production of eco-friendly electronics. As a response, vendors have developed lead-free chip resistors, such as those using Ruthenium and Palladium instead of lead. These resistors are suitable for various applications, including precision resistors in healthcare, aerospace & military, solar, and industrial equipment.
For instance, YAGEO's RC-P series and Vishay Intertechnology's D/CRCW series of thick film lead-free chip resistors offer long-term reliability and are suitable for general-purpose applications and sulfur environments. Additionally, these resistors are used in frequency control applications, such as in telecommunications equipment, precision resistors in medical instruments like ECG devices and potentiometers, and temperature sensors like thermometers. Furthermore, they are employed in automotive and transportation, IT and telecommunications, electronics, electric power steering, infotainment systems, mobile health technologies, patient identification, and robots. The focus on low sulfur environments and the need for high precision in various industries is driving the demand for these lead-free chip resistors. Thus, such trends will shape the growth of the market during the forecast period.
Varying consumer preference is the major challenge that affects the growth of the market. The market encompasses the production of precision resistors, primarily utilizing Ruthenium and Palladium as key materials, in the manufacturing of passive electronic components. These components, which include surface-mounted devices and integrated circuit devices, are integral to various industries, such as healthcare, aerospace & military, solar, and industrial equipment. The shift towards eco-friendly electronics has led to the development of lead-free chip resistors, ensuring long-term reliability and compatibility with sensitive applications. In the healthcare sector, precision resistors find extensive use in medical instruments, ECG devices, and detection monitors, requiring 1% tolerance and high frequency stability.
.Furthermore, the aerospace & military industry relies on these components for applications in avionics, satellite systems, and precision control systems, necessitating high performance and low sulfur environment compatibility. The solar industry utilizes chip resistors in power supply systems and solar inverters, while electric power equipment and electronic digital products employ them for resistance value adjustment and current limiting. The automotive and transportation sector integrates these components in electric power steering systems, infotainment systems, and patient identification systems. Telecommunications equipment, including robots and spraying disinfectants, also utilize precision resistors for frequency control and power regulation. In the industrial sector, these components are essential for various applications, such as potentiometers, thermometers, and temperature sensors, ensuring accurate readings and long-term reliability. In summary, the market caters to various industries, including healthcare, aerospace & military, solar, industrial equipment, and telecommunications, providing high-performance, precise, and reliable components for diverse applications. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
TE Connectivity Ltd. - The company offers thin film chip resistors such as RN 0805 and RN 0603.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the Industrial equipment segment will be significant during the forecast period. Thin film chip resistors, a type of surface-mounted electronic components, are gaining popularity in various industries due to their superior characteristics and eco-friendly nature. Manufactured using thin-film technology, these resistors have a thin layer of conductive material, such as Ruthenium or Palladium, deposited on a ceramic substrate through sputtering. This technology offers benefits like tolerance values as low as 1%, high-frequency performance, and excellent stability in varying environmental conditions, making them suitable for applications demanding precision
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The Industrial equipment segment showed a gradual increase in the market share of USD 570.50 million in 2018. The industrial equipment segment is projected to witness significant growth during the forecast period due to the increasing use of thin film chip resistors in power supply, electric power equipment, and solar applications. These resistors provide long-term reliability and perform exceptionally well in a sulfur environment, which is crucial for industries that operate in harsh conditions. Thin film chip resistors are also widely used in healthcare, aerospace & military, automotive and transportation, IT and telecommunications, and electronics industries. In healthcare, they are employed in medical instruments, patient identification systems, ECG devices, and detection monitors. In aerospace & military, they are used in precision resistors, frequency control devices, and other critical applications. In the automotive industry, they are used in electric power steering systems, infotainment systems, and other electronic control units. In telecommunications equipment, they ensure stable and precise resistance values, contributing to the overall performance and reliability of the equipment. Moreover, thin film chip resistors offer excellent stability and low temperature coefficients, making them suitable for applications in solar, power supply, and electric power equipment, where precise resistance values are essential. They also perform exceptionally well in eco-friendly electronics, such as those used in solar panels and medical instruments, where low sulfur environment is a critical factor.
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APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market is experiencing significant growth due to the increasing demand for advanced electronic devices and systems in various end use industries. These resistors play a crucial role in data capture and processing in sensors, computer power management, networking, robotics, and consumer electronics such as smartphones and tablets. In automotive electronics and industrial electronics, thin film chip resistors ensure voltage and current stability in circuits, enabling the functionality of advanced technologies like automation, hybrid electric vehicles, and electro-static discharge protection. New technologies, including artificial intelligence, IoT, 5G networks, aerospace, defense applications, and cloud services, are driving the market's expansion. Industrial electronic equipment, automobiles, manufacturing activities, medical, military, and aerospace applications all benefit from the reliability and precision of thin film chip resistors. Networking technologies and data center infrastructure also require these components for efficient electricity distribution and voltage regulation.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Film Capacitor Market: Film Capacitor Market Analysis APAC, Europe, North America, Middle East and Africa, South America - China, US, Japan, Germany, UK - Size and Forecast
Chip Mounter Market: Chip Mounter Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Germany, Japan, India - Size and Forecast
Semiconductor Market: Semiconductor Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Germany, Canada, UK - Size and Forecast
Thin film chip resistors are essential passive components in various electronic devices, providing voltage and current control in circuits. These resistors offer several advantages, including high precision, stability, and miniaturization, making them indispensable in the modern digital age. Key end-use industries driving the market include consumer electronics, automotive electronics, industrial electronics, and aerospace applications. The increasing demand for advanced technologies such as artificial intelligence, IoT, 5G networks, and automation is propelling the market's growth.
Furthermore, electricity consumption in data centers and cloud services is surging, necessitating the use of high-performance and reliable components like thin film chip resistors. New technologies like electro-static discharge protection and advanced materials are also gaining traction in the market. In the automotive sector, the integration of electronics in high-end automobiles and hybrid electric vehicles is leading to increased demand for thin film chip resistors. Industrial robots and manufacturing activities are also significant consumers of these components. The medical and military sectors, along with aerospace applications, are expected to offer significant growth opportunities for thin film chip resistor manufacturers in the coming years. Overall, the market is poised for steady growth, driven by the increasing digitalization of industries and the need for efficient and reliable electronic components.
Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 408.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, Germany, Japan, Canada, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ASJ Pte Ltd., Bourns Inc., Cal Chip Electronics Inc., Hong Kong Resistors Manufactory, International Manufacturing Services Inc., KOA Speer Electronics Inc., Micro Ohm Corp., Mini Systems Inc., Ohmite Manufacturing Co., OnChip Devices Inc., Panasonic Holdings Corp., SRT Resistor Technology GmbH, State of the Art Inc., Susumu Co. Ltd., Synton Tech Corp., TE Connectivity Ltd., TT Electronics Plc, Viking Tech Corp., Vishay Intertechnology Inc., and Yageo Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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