New York, July 11, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global SMD Shunt Resistor Market” published by Reports Insights, the market was worth USD 1,147.91 Million in 2022 and is anticipated to reach over USD 1,580.57 Million by the year 2030, growing at a CAGR of 4.2%.
SMD shunt resistor refers to a device that is utilized for generating a less resistance path to enable most of the current to flow throughout the circuit. SMD shunt resistor are primarily used in automotive, it & telecommunication, consumer electronics, and other industries. The benefits of SMD shunt resistors including high thermal stability, accurate current measurement, electrical noise prevention, and protection of electronic circuits from overvoltage are key determinants for increasing its adoption in the aforementioned end users. The market for SMD shunt resistors is highly competitive, with a large number of players offering a wide range of solutions. The market is projected to continue to grow in the coming years, driven by the increasing demand for SMD shunt resistors in the automotive and consumer electronics sectors among others.
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The increasing utilization of SMD shunt resistor in automotive industry is one of the key factors driving the market growth. SMD shunt resistors are used in the automotive industry for applications including power inverters, IGBT modules, battery current monitoring, and others. According to the China Association of Automobile Manufacturers, the overall passenger car production in China reached 14.8 million units in January-August 2022, representing an increase of 14.7% as compared to 2021. The rising production of automobiles is driving the adoption of SMD shunt resistors for aforementioned applications, owing to its precise current measurement and high thermal stability. Thus, the growing automotive industry is a prime factor driving the adoption of SMD shunt resistors, in turn proliferating the market growth.
Further, the rising application of SMD shunt resistors in consumer electronics sector is a vital factor spurring the growth of the market. SMD shunt resistors are deployed in electronic circuits of laptops, smartphones, and consumer appliances. The ability of SMD shunt resistors to protect devices from short-circuits and overvoltage are increasing its application in the consumer electronics sectors. Moreover, factors including the increasing adoption of smartphones, laptops, and consumer devices and the growing demand for advanced electronic circuit protection solution are among the key prospects fostering the application of SMD shunt resistors.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 1,580.57 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 4.2% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | KOA Corporation, ROHM CO. LTD., Vishay Intertechnology Inc., Panasonic, Walter Electronic Co. Ltd., TA-I Technology CO. LTD., TT Electronics, Viking Tech Corporation, TE Connectivity, Susumu International U.S.A., Ohmite Mfg Co., and Caddock Electronics Inc. |
| By Sales Channel | Direct Sales and Distributor Sales |
| By End User | Automotive, IT & Telecommunication, Consumer Electronics, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
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SMD Shunt Resistor Market Growth Drivers:
- Rising utilization of SMD shunt resistors in automotive sector is driving the market growth
- Increasing adoption of SMD shunt resistors in consumer electronics industry is spurring the market growth
Restraints
- Instability in raw material prices is restraining the market growth
Global SMD Shunt Resistor Market Segmentation Details:
Based on sales channel, the distributor sales segment contributed to the largest share to the market growth in 2022. Distributor sales channel involves the sales of products indirectly to customers through various e-commerce websites or offline distributors including retail stores, specialist stores, and others. Moreover, factors including ease of utilization, higher accessibility to a wide range of products, higher flexibility, and others are key prospects driving the segmental growth of the distributor sales channel.
Based on end user, the automotive segment is anticipated to offer substantial shares to the global SMD shunt resistor market growth during the forecast period. SMD shunt resistors are used in the automotive industry for their application in automobile IGBT modules, power inverters, battery current monitoring, and other related applications. Moreover, factors including increasing investments in automotive manufacturing facilities, rising adoption of electric vehicles, and growing need for reliable automobile electronic circuitry are expected to fuel the market growth during the forecast period.
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Based on region, North America accounted for the largest share contribution to the market growth in 2022. The prevalence of significant SMD shunt resistors providers in North America such as Vishay Intertechnology Inc., Susumu International U.S.A., Caddock Electronics Inc., and others lead to significant innovations in SMD shunt resistors in the region. In addition, factors including the growing automotive industry and rising investments in IT & telecommunication and consumer electronics sectors in North America are expected to drive market demand in the region during the forecast period.
Key Market Highlights
- The Global SMD Shunt Resistor Market size is estimated to exceed USD 1,580.57 million by 2030 and grow at a CAGR of 4.2% during the forecast period (2023-2030).
- Globally, SMD shunt resistor are divided based on the sales channel into direct sales and distributor sales.
- On the basis of end user, the market is classified into automotive, IT & telecommunication, consumer electronics, and others.
- The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in SMD shunt resistor.
List of Major Global SMD Shunt Resistor Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
-
- KOA Corporation
- ROHM CO. LTD.
- Vishay Intertechnology Inc.
- Panasonic
- Walter Electronic Co. Ltd.
- TA-I Technology CO. LTD.
- TT Electronics
- Viking Tech Corporation
- TE Connectivity
- Susumu International U.S.A.
- Ohmite Mfg Co.
- Caddock Electronics Inc.
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Global SMD Shunt Resistor Market Segmentation:
- By Sales Channel
- Direct Sales
- Distributor Sales
- By End User
- Automotive
- IT & Telecommunication
- Consumer Electronics
- Others
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