Newark, June 19, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 465.0 million thick film resistor market will reach USD 771.9 million by 2033. The market is growing primarily due to the growing demand for electronic devices and the growing acceptance of wearables and the Internet of Things (IoT). IoT devices and wearables typically require compact components to fit into small form factors. Thick film resistors work well in these applications because of their small size, high integration density, and compatibility with surface mount technology (SMT). The desire for smaller electronics is being driven by the rise in wearables and Internet of Things devices, which is, in turn, driving the demand for thick film resistors that are durable, compact, and strong. For example, the State of IoT Spring 2023 study states that the number of active IoT endpoints worldwide climbed by 18% in 2022 to reach 14.3 billion.
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The growing popularity of electric and hybrid cars and the developing 5G network, are anticipated to fuel market expansion. A sizable wireless infrastructure, comprising base stations, small cells, antennas, and RF (radio frequency) modules, is required for 5G networks to support higher data speeds, lower latency, and more network capacity. The requirement for thick film resistors in RF circuits, antenna-matching networks, and impedance-matching networks used in 5G infrastructure drives the need for high-performance resistors in these applications. For example, a forecast by 5G Americas estimates that by the end of 2023, there will be 1.76 billion 5G connections worldwide, an increase of 700 million connections net over the previous year.
Key Insights on Thick Film Resistor Market
Asia Pacific will account for the largest market size during the forecast period.
The growing 5G infrastructure and service initiatives in Asia-Pacific will present profitable chances for autonomous vehicles to enter the region, driving the market. Because of their excellent dependability and inexpensive cost, thick film resistors are frequently employed in the consumer electronics industry. They are frequently found in integrated passive devices, heating elements, and surface mount devices. Surface-mount technology (SMT)-compatible resistors and large-tolerance capacitors can also be produced using thick-film technology. The Chinese National Bureau of Statistics estimates that in April 2022, China produced about 32.66 million finished computers.
The thick film power resistor segment dominated the market with the most significant revenue of USD 158.1 million.
The thick film power resistor segment dominated the market, with the most significant revenue of USD 158.1 million. In the automotive, industrial automation, telecommunications, and renewable energy sectors, thick film power resistors are frequently used for applications like current sensing, voltage regulation, and power management.
The hybrid vehicles segment dominated the market with the most significant revenue of USD 195.3 million.
The hybrid vehicles segment dominated the market with the most significant revenue of USD 195.3 million. The interplay between the internal combustion engine and electric power system is controlled by intricate electrical systems in hybrid vehicles. Power inverters, motor drives, battery management systems, and hybrid control units are a few of these systems. Thick film resistors are crucial parts of hybrid automobile electronics that are used for power management, voltage regulation, and current sensing. They ensure that the hybrid engine will run effectively and dependably.
The electrical & electronics segment dominated the market with the most significant revenue of USD 186.0 million.
The electrical & electronics segment dominated the market with the most significant revenue of USD 186.0 million. Thin film resistors are a necessary component of many electronic devices, including computers, televisions, cellphones, industrial machinery, medical equipment, and more. As the demand for these electrical gadgets increases globally, so does the requirement for thick film resistors.
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Market Dynamics:
Drivers: Increasing demand for automobile electronics
The automobile industry is adding more electronic systems and components to cars to offer cutting-edge features like electrification, infotainment, and advanced driver-assistance systems (ADAS). Automotive electronics need thick film resistors to run engines, lights, safety features, sensors, and other systems. The rising use of electric and driverless cars (EVs) drives demand for thick film resistors.
Restraint: Restricted application
There are only few application of thick film resistors as compared to other resistor types. These thick films are used in automotive, industrial, and consumer electronics industry for some specialist applications that need specific resistor technologies. This is expected to hinder the market’s growth during the forecast period.
Some of the major players operating in the thick film resistor market are:
● TE Connectivity
● Panasonic Corporation
● Rohm Semiconductor
● Murata Manufacturing Co. Ltd.
● Bourns, Inc
● YAGEO Corporation
● KOA Speer Electronics INC.
● Vishay Intertechnology, Inc.
● Viking Tech Corporation
● TT Electronics Plc
Key Segments cover in the market:
By Resistor Type:
● Thick Film Chip Resistor
● Thick Film Power Resistor
● Shunt Resistor
● Through Hole Type
By Vehicle Type:
● Electric Vehicles
● ICE Vehicles
● Hybrid Vehicles
By Industry:
● Telecommunication
● Automotive
● Electrical & Electronics
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About the report:
The global thick film resistor market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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