The Thick Film Resistor Market is projected to grow at a CAGR of 5.06% during the forecast period, to reach a market size of USD 615 million by 2025 from USD 435 million in 2018. The need for thick film power & shunt resistors is anticipated to increase as a result of factors including growing acceptance of advanced technologies in the automotive industry, growing usage of 4G/5G networks, and rising demand for high-performance electronic and electrical systems.
Thick Film Resistor is estimated to hold the largest share in the market, by resistor type
In 2018, it is anticipated that thick film power resistors will command the biggest market share. Consumer electronics products, telecommunications, and the increased demand for electronic circuits in automobiles and other commercial vehicles all contribute to the growth of this industry. OEMs have been forced to add more electronic components to vehicles as a result of rising sales of electric and hybrid vehicles brought on by governmental laws, incentives, and tax exemptions. The demand for consumer electronics such as cellphones, computers, laptops, digital devices, tablets, printers, and smart televisions has surged as a result of significant technological breakthroughs. The demand for telecom equipment with thick film resistors has also been pushed by an expanding pool of telecom subscribers and an increase in internet service usage due to lower subscription costs. Future market growth is anticipated as a result of all these factors.
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Electrical & Electronics industry is estimated to be the fastest growing segment in thick film resistor market
During the forecast period, the thick film and shunt resistor market is anticipated to grow at the fastest rate in the electrical and electronic sector. Consumer electronics, computer electronics and peripherals, mobile phones and tablets, LED lights, energy meters, and backup power devices are just a few applications for these resistors. Since these types of resistors are used in electronic circuits, the demand for thick film power & shunt resistors has expanded along with the need for consumer electronics. Additionally, the demand for thick film and shunt resistors in the electrical and electronic industries would increase in the upcoming years due to increased industrial automation and the growing demand for small, effective electronic devices.
Asia Oceania: The largest region for thick film power& shunt resistor market for automotive industry
The thick film and shunt resistors are anticipated to have the highest market in the Asia-Oceania area. For practically every industry, this region has turned out to be a significant business prospect. For instance, Asia and Oceania held the largest market share in terms of vehicle production in 2018, accounting for between 54-66% of worldwide vehicle production. The rising standard of living, the expansion of metro areas, and population growth are the key drivers of the automobile industry. In places like China, South Korea, and Japan, the installation of ADAS in automobiles is now regulated due to a lack of infrastructure and an increase in traffic accidents. According to prominent industry insiders, the market for thick film power and shunt resistors in Asia and Oceania is primarily driven by the rise in industrial automation, vehicle electrification, and trend for small electronic gadgets.
Additionally, the development of the electrical and electronics industry has been aided by the growing urbanization and impending smart city projects, particularly in China and India. Due to its steadily growing telecom subscriber base, this region is likewise anticipated to develop at the quickest rate. By 2025, 1.5 billion 5G connections are anticipated in China and other Asia Pacific nations, according to the Walsin Technology Corporation investor presentation from 2018. The telecom providers are being forced to improve the effectiveness of their network offering, which would necessitate more sophisticated equipment, due to rising e-commerce activities and growing knowledge of the advantages of real-time data. The market for thick film power & shunt resistors for the telecommunications industry will expand with the rise in demand for this equipment.
Key Market Players
Some prominent players in the thick film resistor market are Yageo (Taiwan), KOA Corporation (Japan), Panasonic (Japan), Vishay (US), ROHM Semiconductor (Japan), TE Connectivity (Switzerland), Bourns (US), Viking Tech Corporation (Taiwan), TT Electronics (UK).
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